In order to become a licensed mortgage broker in Ontario, you must be authorized by a mortgage brokerage, and agree to deal in mortgages for that brokerage only. You must also:
- Be 18 years of age or older
- Be a resident of Canada
- Have a mailing address in Ontario that can receive registered mail (not a PO box)
- Successfully complete an approved course and exam
- Have already been licensed as a mortgage agent for at least 24 months - during the 36 month period prior to your mortgage broker application
Mortgage broker education program
Before applying for your broker licence, you will need to take a course, approved by the CEO of FSRA, and pass an exam. Courses are available in English and French and are offered by Mortgage Professionals Canada (MPC). You must apply for your broker licence within 3 years of completing the course.