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Why Choose a LIcensed Mortgage Broker?

Why Choose a Broker

For many Canadians, the purchase of a home is likely the biggest financial investment decision they will make in their lifetime. To help realize the dream of homeownership, you'll want to work with a professional mortgage broker who will offer sound, professional advice and provide a mortgage solution that matches your needs and circumstances.

It is the job of a professional mortgage broker to stay ahead of the game, learning about the array of products available that best suit their clients’ needs. Generally, the broker is paid a referral fee by the lender, not by their client. Lending institutions will usually provide their best interest rates to the broker ensuring that, as the homebuyer, you don’t have to negotiate to get the best rate.

By assessing your needs, a broker will carefully weigh important decisions, such as lump sum payments and fixed versus variable rates, before they are made. A broker will also guide you through the process of completing and submitting mortgage applications and supporting documentation required by the lender. If the terminology seems a little confusing, your broker is there to explain important information and conditions set out by the lender as well as any steps required to close the mortgage transaction.

A few things to note about mortgage brokers:

  • Mortgage brokers are professionals and many are licensed by the province within which they work. They must maintain a high level of professionalism and keep up with all of the offerings and developments within the industry.
  • Mortgage brokers should have an established place of business. They have chosen mortgage brokerage as their career and demonstrate their long-term commitment to the industry. In this regard, they are no different than insurance brokers.
  • In order to best meet a consumer’s needs, mortgage brokers have a wide array of products from which to choose – mortgage banks, private sources, independent lenders, etc. And, a lender will deal with a broker only after a thorough selection process, checking references, interviewing and obtaining a copy of their broker licence.
  • In addition to the above points, and for obvious reasons, be sure that you have a good interpersonal rapport with the broker you choose. It’s all about trust, credibility and ultimately the relationship.

In short, consumers choose a mortgage broker for four reasons: choice, advice, service and savings. By considering these factors, you’ll be able to make an informed decision, comfortably.

Source: http://mbsweblist.fsco.gov.on.ca/

Here is a list of Licensed Mortgage Brokers in Ontario as of February 15th, 2018

Canstone Realty Advisors LP operating as Forgestone Capital Management GP

Licence #: 12759
Principal Broker: SIMONYI, STEFAN
Contact Information: 110 Yonge Street, Suite 1100 Toronto ON M5C1T4
Telephone: 416-627-0648
Status: Licensed

Canuck Real Estate Corporation

Licence #: 10122
Principal Broker: SARKAR, PAUL
Contact Information: 93 Whitehall Road Toronto ON M4W2C8
Telephone: 416-858-3100
Status: Licensed

Capital City Realty Limited

Licence #: 11775
Contact Information: 265 Newton Drive Toronto ON M2M2P5
Telephone: 416-512-9996
Status: Licensed

Capital West Mortgage Inc.

Licence #: 12865
Principal Broker: ENG, DAYMON
Contact Information: c/o: Spark LLP, Attn: Sanjay Kutty, 169 King Street East, Floor 3 Toronto ON M5A1J4
Telephone: 604-351-4949
Status: Licensed

CapitalSense Corp.

Licence #: 12361
Principal Broker: WU, FENGLI LIVIA
Contact Information: 18 Burleigh Height Drive Toronto ON M2K1Y7
Telephone: 416-225-8003
Status: Revoked
Effective Date: November 15, 2016

Capline Capital Corporation

Licence #: 11515
Principal Broker: SCAVO, FRANK
Contact Information: 99 Winston Park Blvd Toronto ON M3K1C4
Telephone: 416-633-9952
Status: Licensed

CBRE Limited

Licence #: 10501
Principal Broker: ODD, ANDREW
Contact Information: 145 King Street West, Suite 600 Toronto ON M5H1J8
Telephone: 416-362-2244
Status: Licensed

CDN Business Investor Corp.

Licence #: 10234
Contact Information: 19 Woodbine Douns Blvd., Unit 201 Toronto ON M9W6N5
Telephone: 416-410-8477
Status: Licensed

CDPQ Mortgage Investment Corporation

Licence #: 12065
Principal Broker: Not Applicable
Contact Information: 55 University Avenue, Suite 1701 Toronto ON M5J2H7
Telephone: 416-956-0150
Status: Surrendered
Effective Date: October 6, 2016

Centum Ace Financial Inc.

Licence #: 11761
Principal Broker: BAKSHI, SUNEEL
Contact Information: 5010 Steeles Avenue West, Suite 11A Toronto ON M9V5C6
Telephone: 416-857-0755
Status: Licensed


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