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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

Amountly Inc. operating as Amountly

Licence #: 12784
Principal Broker: PIRATI, VENKATA
Contact Information: 1286 Kennedy Road, Unit 4 Toronto ON M1P2L5
Telephone: 416-254-2540
Status: Licensed

Aquity Mortgage Inc. operating as Mortgage Alliance Sage Financial Group

Licence #: 11578
Principal Broker: PATEL, BHARAT
Contact Information: 11 Aldwinckle Heights Toronto ON M3J3S7
Telephone: 416-414-1820
Status: Licensed

Avanti Financial Services Inc. operating as Indigoblue Financial Group Your Mortgage Architects

Licence #: 11977
Principal Broker: Not Applicable
Contact Information: 1 Greensboro Drive, Suite 301 Toronto ON M9W1C9
Telephone: 905-839-2929
Status: Surrendered
Effective Date: July 24, 2017

Avison Young Commercial Real Estate (Ontario) Inc.

Licence #: 10637
Principal Broker: FIEDER, MARK
Contact Information: 18 York Street, Suite 400, Mailbox #4 Toronto ON M5J2T8
Telephone: 647-788-4075
Status: Licensed

Ayele Financial Corporation

Licence #: 12877
Principal Broker: DOCKERY, HORACE
Contact Information: 4030 Sheppard Avenue East Toronto ON M1S1S6
Telephone: 888-762-9353
Status: Licensed

Barry Gordon Goldlist

Licence #: 11475
Principal Broker: GOLDLIST, BARRY
Contact Information: 138 Grey Road Toronto ON M5M4G1
Telephone: 416-822-8792
Status: Licensed

Baystreet Mortgage Group Inc.

Licence #: 12902
Principal Broker: WALICHT, MACIEK
Contact Information: 100 King Street West, Suite 5700 Toronto ON M5X1C7
Telephone: 647-490-4737
Status: Licensed

bcIMC Fixed Term Fund Corporation

Licence #: 10412
Principal Broker: ATKINS, DEAN
Contact Information: 181 University Avenue, Suite 2100 Toronto ON M5H3M7
Telephone: 416-863-1010
Status: Licensed

bcIMC Specialty Fund Corporation

Licence #: 10805
Principal Broker: RYAN, KEVIN
Contact Information: 181 University Avenue, Suite 2100 Toronto ON M5H3M7
Telephone: 416-863-1010
Status: Licensed

Bedrock Financial Group Inc. operating as Dominion Lending Centres Bedrock Financial

Licence #: 12275
Principal Broker: WALSH, EDWARD
Contact Information: 1935 Leslie Street Toronto ON M2B2M3
Telephone: 416-398-2464
Status: Licensed


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