How to Become a Licensed Mortgage Agent in Ontario

In order to become a licensed mortgage agent you have to undergo the mortgage agent licensing course Ontario. Any individual who has the desire to possess a mortgage agent license must meet the following requirements.

-          The candidate must have attained the age of 18 years or older.

-          The candidate should be a resident of Canada.

-          The candidate must possess a mailing address in Ontario. That mailing address should be competent to receive registered mails. It should not be a post office box.

To apply for a mortgage broker’s license, the candidate must adhere to the following requirements. These requirements are in addition to the above given requirements.

-          Any Mortgage Brokerage should authorize the candidate. He should be certified to trade or deal mortgages on behalf of the Mortgage Brokerage.

-          The candidate should be working with a single Mortgage Brokerage only.

-          The candidate must have completed an approved mortgage agent’s education program.

-          The candidate should possess a mortgage agent license for at least 24 months, during the total 36 months period. Only then, he can apply for the mortgage broker’s license.

-          The candidate must have successfully completed an approved mortgage brokers education course and exam. This should be done up to three years before filing for mortgage broker’s license.

The curriculum for the mortgage agent licensing basic course comprises of buying and selling procedures, property financing, home and building construction, property valuation, negotiation and documentation, and legal & government. In addition, you can also seek assistance from state specific mortgage agent license requirements, potential employers, and interview tips.

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