Roles
Mortgage Broker
A licensed professional who shops your mortgage application across multiple lenders and presents you with options.
A mortgage broker (also called a mortgage agent in some provinces; the licence levels vary) is licensed by the provincial regulator — FSRA in Ontario, BCFSA in BC, and the Nova Scotia Department of Finance in NS — to arrange mortgages on behalf of borrowers.
Brokers don't lend their own money. They submit your file to multiple A Lenders, B Lenders, and (when appropriate) private lenders, then present you with the best matching option. On most A Lender deals, the lender pays the broker's commission directly — you pay no fee. On B Lender or private deals, a broker fee may apply and must be disclosed in writing before you sign.
Using a broker doesn't cost more on most prime mortgages, and a broker's panel of lenders is typically much wider than any single bank's offerings. Brokers also handle the paperwork end-to-end, coordinating with appraisers, lawyers, and insurers.
Every agent on Brkrr is cross-checked against their provincial regulatory registry, so the licence is verified before they appear in our directory.