Becoming a Level 1 Mortgage Agent in Ontario is the first step towards a rewarding career in the mortgage industry. This guide explains the process of getting a Level 1 Mortgage Agent license.
Firstly, you must complete an accredited Mortgage Agent education program approved by the Financial Services Regulatory Authority of Ontario (FSRA). The cost of these programs can range from $338 to $425.
A full breakdown and review of each of the course providers can be found here.
Once you’ve passed the exam, you can then join a licensed mortgage brokerage and apply for a Mortgage Agent License through the FSRA. The license fee is $841 (plus a one-time $100 fee) for a one-year license. Note that the brokerage may also have additional fees when joining.