Step 1: Meet the Basic Requirements

Before applying, you need to meet a few basic criteria. You must be at least 18 years old, a resident of Canada, and have a clean criminal record. Additionally, you’ll need to complete your high school education or have an equivalent diploma.

Step 2: Complete a Mortgage Agent Course

To start, you need to obtain your mortgage agent license in Ontario. This involves completing an approved mortgage agent course. The course covers essential topics like mortgage law, regulations, and financial practices. It's typically a short-term course, often completed within a few weeks. Make sure to choose a program approved by the Financial Services Regulatory Authority of Ontario (FSRA).

Step 3: Work as a Mortgage Agent

Once you have your mortgage agent license, you'll need to gain some experience. Most brokers work for at least 12 months as a mortgage agent before applying for a broker license. This helps you build practical skills and industry knowledge.

Step 4: Apply for a Mortgage Broker License

After gaining experience, you can apply for a licensed mortgage to become a broker. You'll need to complete an additional course and pass a final exam. After that, submit your application to FSRA, along with the necessary fees.