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How to Get Your Mortgage License in Ontario

Are you considering a career in mortgage brokering? Becoming a licensed mortgage agent in Ontario is a great opportunity to enter the real estate financing industry, helping clients secure home loans and investment opportunities.

In Ontario, mortgage professionals are regulated by the Financial Services Regulatory Authority of Ontario (FSRA), which oversees licensing requirements and industry compliance.

If you're looking to get started, follow this step-by-step guide to obtaining your mortgage license in Ontario.

Step 1: Meet the Basic Requirements

Before you begin the licensing process, ensure you meet the following basic eligibility criteria:

  • You must be at least 18 years old
  • You must be a resident of Canada
  • You must have a valid Social Insurance Number (SIN)
  • You must work under a licensed mortgage brokerage
  • You must meet the educational requirements set by FSRA

Step 2: Complete the Mortgage Agent Course

To become a licensed mortgage agent in Ontario, you must successfully complete an approved Mortgage Agent Course. These courses are offered by FSRA-approved educational institutions such as:

  • Mortgage Professionals Canada (MPC)
  • Real Estate and Mortgage Institute of Canada (REMIC)
  • Seneca College

The course typically covers topics like mortgage products, regulations, ethics, and risk assessment. It usually takes a few weeks to complete, depending on the institution and your schedule.

Step 3: Pass the Course Exam

Upon completion of the course, you’ll need to pass a final exam to demonstrate your knowledge. A minimum passing grade (often 60% or higher) is required to proceed with your licensing application. The exam is typically multiple-choice and can be taken online or in person.

Step 4: Find a Sponsoring Mortgage Brokerage

In Ontario, you cannot operate independently as a mortgage agent. Instead, you must be employed by a licensed mortgage brokerage that sponsors your application. The brokerage will provide you with mentorship, training, and guidance as you begin your career in mortgage brokering.

What to Look for in a Brokerage:

  • A strong reputation in the industry
  • Supportive training programs
  • Competitive commission structures
  • Licensing and compliance assistance
  • Access to multiple lenders and mortgage products

At Lendworth, we offer a team-oriented environment, ongoing training, and direct access to experienced mortgage professionals. If you're looking for a brokerage to kickstart your mortgage career, reach out to us!

Step 5: Apply for Your Mortgage Agent License with FSRA

Once you have completed your course and secured a sponsoring brokerage, you can apply for your mortgage agent license through FSRA. Your brokerage will submit your application on your behalf.

Application Requirements:

  • Proof of successful completion of the mortgage agent course
  • Employment with a licensed mortgage brokerage
  • Payment of the licensing fee (approximately $941 for a two-year term)
  • A background check may be required

Once approved, your name will appear in FSRA’s public registry as a licensed mortgage agent.

Step 6: Maintain Your License and Continue Learning

To maintain your mortgage license, you must:

  • Renew your license every two years through FSRA
  • Complete Continuing Education (CE) credits as required by FSRA
  • Stay updated on industry regulations and best practices

As you gain experience, you may consider upgrading your license to a Mortgage Broker License, which allows you to manage a brokerage and supervise agents.

Start Your Mortgage Career with Lendworth

At Lendworth, we support new mortgage professionals by providing: ✅ Comprehensive training ✅ Access to top lenders ✅ Competitive commission structures ✅ Hands-on mentorship

If you're ready to start your career as a mortgage agent in Ontario, contact Lendworth today! Let’s help you build a successful future in the mortgage industry.

📩 Apply now or reach out to us at admin@lendworth.ca

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