How to Get Licensed as a Mortgage Agent in Ontario

How to get licensed as a mortgage agent

Embarking on a career for Mortgage Agent Licensing in Ontario including education, examination, and licensing. This article provides a detailed guide on how to navigate this process, including choosing an education provider and understanding the required course.

Step-by-Step Licensing Process

  1. Complete an authorized mortgage agent education program: The first step towards turning into an authorized loan agent in Ontario is to complete an authorized training program. The Financial Services Regulatory Authority of Ontario (FSRA) has accredited several companies for this education, listed on their website here.
  2. Pass the Licensing Exam: To complete the education program, you need to pass a licensing examination. The examination assessments your knowledge of the material protected to your guides and is a prerequisite for applying on your license.
  3. Join a brokerage: Once you’ve passed the exam, you will have 2 years to find a FSRA licensed mortgage brokerage to hire you.
  4. Apply for Your License: You’ll want to have an active offer from a mortgage brokerage, as they will sponsor your licensing.

Education Providers and Courses

There are several schooling companies in Ontario.  Each provider is different and sets their own policies and price. It’s important to research and choose a issuer that excellent fits your wishes. You can view a comprhensive breakdown of each provider by clicking here.