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Canada Mortgage Brokers and Agents

To secure the best mortgage rates in Canada, contact a mortgage broker or agent in your area. Using a local broker gives you the ability to meet in-person to discuss your needs and concerns and gives you access to the best mortgage rates offered by banks and lenders across Canada.

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Canadian mortgage brokers and agents

Work with a Canadian mortgage broker or agent to gain access to the best Canadian mortgage rates and expertise. Connecting with a local mortgage broker offers plenty of benefits, such as personalized expertise from an industry professional, based on your personal financial situation. Because mortgage brokers have access to many products offered by a variety of providers, they can help you compare the best mortgage rates offered by banks and lenders across Canada. Working with a broker also simplifies the mortgage shopping process; rather than meeting with multiple representatives from different providers about your mortgage needs, you only need to meet with one person, while accessing the wider mortgage marketplace.


Canadian mortgage brokers

Mortgage brokers in Canada serve as the “origination point” for your mortgage. This means they serve as your representative in the mortgage shopping and selection process, by providing you with access to multiple mortgage products from multiple lenders. A Canadian mortgage professional will work closely with you to evaluate your financial needs and situation to determine the best rate and product to service your needs.

Read: Bank vs. broker


The advantages of using a mortgage broker in Canada

    • A broker’s services are free. The lender that provides the mortgage loan will pay the broker a finder’s fee
    • All the negotiating and paperwork is handled by the broker
    • Canadian brokers have extended hours because they operate independently
    • A mortgage agent in Canada can source a mortgage from multiple lenders
    • Mortgage professionals have immense industry knowledge because they are not limited to one lender, so they have a broad view of the mortgage landscape

Read: The pros and cons of using a mortgage broker


Canadian broker associations and licensing

Nationally, there is no unifying governing body that all mortgage brokers adhere to. Rather, each mortgage professional licence is handled province-to-province. However, in all provinces, the mortgage broker-to-be must be at least 18 years of age and have Canadian citizenship.

The Canadian Association of Accredited Mortgage Professionals, also known as CAAMP, does offer licensing courses for individuals in order to receive the Accredited Mortgage Professional (AMP) designation. The courses cover important topics such as ethics, standards, and responsibilities. The Accredited Mortgage Professional designation (AMP) is the only national proficiency standard for Canada’s mortgage industry. It’s not required but adds additional credibility.

Frequently asked questions

Why is a mortgage broker better than a bank?

What is the lowest mortgage rate in Canada right now?

What does a mortgage broker do?

How do mortgage brokers make money?

What is the difference between a mortgage broker and a real estate agent?