The government and FSRA have implemented new licensing classes for mortgage agents and brokers effective April 01, 2023. Visit the page for details. See the new Licensing Requirements Transition for details.

If you wish to deal in mortgages as a mortgage agent level 1 in Ontario, you must apply for a licence with the Financial Services Regulatory Authority of Ontario (FSRA).

About the mortgage agent level 1 licence 

An Ontario mortgage agent level 1 is a professional who deals or trades in mortgages for a licensed mortgage brokerage, under the supervision of a licensed mortgage broker.

A mortgage agent level 1 may arrange mortgages solely with lenders which are financial institutions or approved lenders under the National Housing Act, as described in regulation.

All individuals acting as a mortgage agent level 1 in Ontario must have a licence from FSRA. They must also be sponsored by one licensed mortgage brokerage.

Fee for a new application

The fee for a new mortgage agent level 1 licence is $941. The fee will be prorated based on the month in which your application is submitted in the fiscal year.

The Principal Broker of your brokerage will submit the application fee to FSRA after reviewing your licence application. Depending on the arrangement with your Principal Broker, you may need to provide your brokerage with your licence application fee so it can be paid on your behalf.

Requirements for getting a licence

If you wish to become a licensed mortgage agent level 1 in Ontario, you must:

  1. Be 18 years of age or older.
  2. Be a resident of Canada.
  3. Have an Ontario mailing address that can receive registered mail (not a post office box).
  4. Have a valid email address.
  5. Be authorized by a mortgage brokerage to deal in mortgages.
  6. Complete an approved mortgage agent education program for a Mortgage Agent Level 1 licence.
  7. Be suitable for a licence.

To verify your suitability to have a licence, you will need to confirm that:

  • You are familiar with the laws of Ontario relating to the licensing of level 1 mortgage agents, level 2 mortgage agents and brokers.
  • You will hold yourself out publicly and carry out business in good faith as a mortgage agent level 1 in the name in which you are licensed.
  • You are not engaged in any other business or occupation that would jeopardize your integrity, independence or competence.
  • You are of good character and reputation.
  • You have provided all information about bankruptcies, lawsuits, criminal records, decisions from other regulators or licensing bodies and other employment information.
  • You are a suitable person to receive a licence and meet all licensing requirements.

Mortgage Agent Level 1 education requirements 

To meet the education requirements for a mortgage agent level 1 licence, you must successfully complete the FSRA-approved mortgage agent level 1 education program. You must apply for a mortgage agent level 1 licence within two years of successfully completing one of these approved mortgage agent level 1 education programs.

Approved mortgage agent education programs

The mortgage agent level 1 program consists of the mortgage agent level 1 course. FSRA has approved several mortgage agent level 1 courses for licensing purposes. All these courses were developed using the same curriculum, but different providers may use different formats such as classroom, correspondence, online or a combination of teaching methods. The tuition fees for each course are set by each independent program provider. All the approved programs include a final examination.

This course is offered through:

French Language courses

French-language courses and examinations are also available. To inquire, please email [email protected] to obtain the contact information of the approved French language course provider.

Education equivalency requests

Certain individuals might qualify for an agent level 1 licence without the education requirement if they meet other education and experience requirements. To see if you qualify, review the education equivalency criteria.

Ready to apply?

If you have met all the requirements for becoming a licensed mortgage agent level 1, ask your sponsoring brokerage to start your application process. 

  1. The Principal Broker of your sponsoring brokerage will initiate your licence application through Licensing Link. Then, they will send you an email with two (2) links:
  1. In the first link, you will be required to complete a criminal background check through FSRA’s approved vendor Triton Canada (Triton).

New Criminal Record check process

FSRA is changing its licensing process for criminal background checks to ensure the processes remain up to date. Criminal record checks are part of FSRA’s rigorous licence qualification process to protect consumers by ensuring only suitable individuals sell or offer financial products and services in Ontario.

FSRA now requires licence applicants to complete their criminal record checks through our approved vendor Triton. You must use FSRA’s link directing you to Triton’s website. After completing the background check, you will then return to your sponsoring application email and complete your licensing application on FSRA’s website. Please note that a fee of $19.15 applies for Triton’s service, and the background check is valid for 90 days.

If you have any further questions about the new background check process, please contact us.

Frequently asked questions - Background check process

  1. You will then return to the sponsoring application email and use the second link to continue your application process through Licensing Link.
  1. Click on the application link in the email. This link will take you to Licensing Link.
  2. Complete and submit your application. It will be sent back to your sponsoring brokerage for final approval.
  3. Your sponsoring brokerage’s Principal Broker will review your licence application and submit it with the required fee.

What happens after the application is submitted:

FSRA will send you an email to confirm it has received your application.

For most applications

  • It should take 20 business days for FSRA to review and/or issue your licence.
  • Keep checking Licensing Link to see if the licence has been approved.

If the application requires additional review

Please note that if additional review is required, it may take longer to process your application.

We encourage you to check your email frequently for updates on your application.