How to Become a Mortgage Agent

Ontario

Embark on your journey to becoming a successful mortgage agent in Ontario! This comprehensive guide covers all the necessary steps, from meeting the basic requirements to obtaining your mortgage agent license on Financial Services Regulatory Authority (FSRA) website.

Step 1: Basic Requirements for Aspiring Mortgage Agents

• Age and Residency: Be at least 18 years old and a Canadian resident.
• Ontario Mailing Address: Have a valid Ontario address (not a P.O. box) for registered mail services.

Step 2: Educational Pathway - Complete the Pre-Licensing Course

• Mandatory Education Program: Candidates must complete the mortgage certificate course within two years before applying for the mortgage license.
• There are four approved Course Providers in Ontario. The tuition fees vary by provider, ranging from $358 to $445.
  • REMIC
  • Humber College
  • Canadian Mortgage Broker Association (CMBA)
  • Mortgage Professionals Canada (MPC)
• There are three education options:
• Online Self-Study: including an electronic textbook (approx. 40 hours to complete)
• Virtual Classroom: Participate in Zoom classes
• In-Person Classes: Attend a 5-day course (9 a.m. to 4:30 p.m.)

Step 3: Educational Pathway - Pass the Licensing Exam

• Final Examination: take REMIC as an example. REMIC exam is a closed book supervised exam. It lasts 3 hours, contains 50 multiple choice questions. The passing score varies from 60% to 70%.
• Students will have one chance to rewrite the exam if they fail the first attempt.
• You will receive the electronic REMIC certificate after you pass the exam and submit the feedback.

Step 4: Get Sponsored by a Mortgage Brokerage

• After being hired by a mortgage company, the company will initiate your Agent Level 1 licensing application on the FSRA website.

Step 5: Complete the Background Check

• After the mortgage company initiates your application, you will receive an email notification from FSRA to complete your portion of the application, including submitting the background check.

Step 6: Licensing Costs and Renewals

• The mortgage company will submit the payment for you after reviewing your application. The initial license fee is $941 for a full year and it's prorated by month if you apply after April 1st.
• The annual renewal fee is $841, due annually on April 1st.

Step 7: Advancing Your Career:

• Level 2 Mortgage Agent License: Available after one year as a Level 1 agent, upon completion of the private mortgage course.
• Mortgage Broker License: Eligible after two years as a mortgage agent and completion of the mortgage broker course, allowing you to supervise agents and become a Principal Broker.

British Columbia

Embark on your journey to becoming a successful mortgage broker in British Columbia! This comprehensive guide covers all the necessary steps, from meeting the basic requirements to obtaining your mortgage broker license on BC Financial Services Authority (BCFSA).

Step 1: Basic Requirements for Aspiring Mortgage Brokers

• Age and Residency: Be at least 18 years old and a Canadian resident or holding a lawful study and work permit.
• Education: have a minimum of Canadian high school or equivalent
• British Columbia Mailing Address: Have a valid British Columbia address (not a P.O. box) for registered mail services.

Step 2: Create an Account

• Create an Account on BCFSA platform IRIS

Step 3: Educational Pathway - What's New in 2026

The Mortgages Service Act (“MSA”) will come into effect on Oct 13, 2026. Individuals considering a career as a mortgage broker now have two options:

Option 1: Start the Original Certificate Course before October 2026

1. Candidates must complete the mandatory mortgage certificate course in BC within two years of registration of the course and also pass the final exam.
   • The approved course provider is the University of British Columbia (UBC) Sauder School of Business. The tuition fee is $1450, and $200 examination fee per attempt.
   • The final exam contains 100 multiple-choice questions with a 65% passing benchmark. Students must pass the final examination within two years of assignment completion.
2. After you complete the current Mortgage Brokerage in BC course, you will also need to complete the MSA transition education.
   • There are 2 MSA transition courses:
     • “MSA: Getting Started”. Online course, approximately 30 minutes to complete. Course Fee: $25.
     • “MSA: The New Mortgage Broker” (scheduled to launch in Spring 2026). Online course, approximately 5 modules. Course Fee: $150.

Option 2: Wait and Take the MSA Mortgage Broker Licensing Course

1. This course is expected to launch a few months before the “MSA” comes into force on Oct 13, 2026. Individuals cannot provide mortgage services before completing this course.

Extra Study Help: GoBC: This institution provides online tutorials, video lessons, and live Zoom coaching for BC candidates who are having trouble completing the UBC mortgage certificate course.

Step 4: Complete a Certified Criminal Record Check (CCRC)

• Please note that your CCRC must be conducted by the Royal Canadian Mounted Police (RCMP), municipal police department or military police.

Step 5: Prepare Your Employment History

• The employment history should be for the past 5 years without gaps.

Step 6: Get Sponsored by a Mortgage Brokerage

• After being hired by a mortgage company, the company will provide you with the managing entity registration number that you will need during the application process.

Step 7: Licensing Costs and Renewals

• The registration fee of a mortgage broker is $1500
• The mortgage broker license is typically valid for 2 years. The renewal fee of the license is $1500

Alberta

Embark on your journey to becoming a successful mortgage associate in Alberta! This comprehensive guide covers all the necessary steps, from meeting the basic requirements to obtaining your mortgage agent license on Real Estate Council Alberta (RECA).

Step 1: Basic Requirements for Aspiring Mortgage Associates

• Age and Residency: Be at least 18 years old and a Canadian resident or holding a lawful study and work permit
• Education: have a minimum of Canadian high school or equivalent
• Alberta Mailing Address: Have a valid Alberta address (not a P.O. box) for registered mail services

Step 2: Create a myRECA Account

• Create an Account on RECA. When you first log in, you will need to submit an Eligibility application. The application costs $350 and it takes at least 10 business days to process.

Step 3: Educational Pathway - Complete the Pre-Licensing Course

• After RECA approves your application, you can now enrol in the Pre-Licensing courses. There are two mandatory courses. The tuition fees are approximately $2700 if you purchase both courses as a bundle.
• Fundamentals of Mortgage Brokerage
  • Recognized Course Providers: Alberta Mortgage Brokers Association (AMBA) and Alberta Real Estate School (ARES).
• Practice of Mortgage Brokerage
  • Recognized Course Provider: AMBA and ARES

Step 4: Educational Pathway - Pass the Licensing Exam

• Candidates must complete all unit quizzes and module tests, and achieve a minimum grade of 70% on final exams of both courses.
• Students will have one chance to rewrite the exam if they fail the first attempt.

Step 5: Complete a Certified Criminal Record Check (CCRC)

• Please note that your CCRC must be no older than 6 months at the time you submit the licensing application.

Step 6: Get Sponsored by a Mortgage Brokerage

• After your CCRC is approved by RECA and you are being hired by a mortgage company, the company will initiate the licensing application for you on RECA.

Step 7: Licensing Costs and Renewals

• You will receive the payment link on RECA after your mortgage company submits the licensing application. The initial license fee is $575 for a full year.
• The annual renewal fee is $475, due annually on September 30 each year.

Nova Scotia

Embark on your journey to becoming a successful mortgage associate in Nova Scotia! This comprehensive guide covers all the necessary steps, from meeting the basic requirements to obtaining your mortgage agent license Nova Scotia Mortgage Website.

Step 1: Basic Requirements for Aspiring Mortgage Associates

• Age and Residency: Be at least 19 years old and a Canadian resident or holding a lawful study and work permit.
• Education: have a minimum of Canadian high school or equivalent
• Nova Scotia Mailing Address: Have a valid Nova Scotia address (not a P.O. box) for registered mail services.

Step 2: Create an Account

• Create an Account on Nova Scotia Mortgage Website

Step 3: Educational Pathway - Complete the Pre-Licensing Course

• Candidates have to complete the Nova Scotia Associate Mortgage Broker Course within two years before applying for the associate license. The course fee is $375.
• The course provider for the course is Mortgage Professionals Canada (MPC).

Step 4: Educational Pathway - Pass the Licensing Exam

• The course takes roughly 40 hours online with a final exam. The exam contains 100 multiple choice questions with a 60% passing benchmark.

Step 5: Complete a Certified Criminal Record Check (CCRC)

• Please note that your CCRC must be conducted by the Royal Canadian Mounted Police (RCMP), municipal police department or military police that is dated no earlier than three months before the date of the application.

Step 6: Get Sponsored by a Mortgage Brokerage

• After being hired by a mortgage company, the company will initiate the licensing application for you.

Step 7: Licensing Costs and Renewals

• The mortgage company will submit the payment on behalf of you. The licensing fee is $300.
• Every licensed mortgage associate will need to renew their license by October 31st each year. The renewal fee is $300.

New Brunswick

Embark on your journey to becoming a successful mortgage associate in New Brunswick! This comprehensive guide covers all the necessary steps, from meeting the basic requirements to obtaining your mortgage agent license on Financial And Consumer Services Commissions of New Brunswick (FCNB).

Step 1: Basic Requirements for Aspiring Mortgage Associates

• Age and Residency: Be at least 19 years old and a Canadian resident or holding a lawful study and work permit.
• Education: have a minimum of Canadian high school or equivalent
• New Brunswick Mailing Address: Have a valid New Brunswick address (not a P.O. box) for registered mail services.

Step 2: Create an Account

• Create an Account on FCNB

Step 3: Educational Pathway - Complete the Pre-Licensing Course

• Candidates have to complete the New Brunswick Associate Mortgage Broker Course within two years before applying for the Associate Mortgage Broker license. The course fee is $375.
• The approved course provider is Mortgage Professionals Canada (MPC).

Step 4: Educational Pathway - Pass the Licensing Exam

• The course takes roughly 40 hours online with a final exam. The exam contains 100 multiple choice questions with a 60% passing benchmark.

Step 5: Complete a Certified Criminal Record Check (CCRC)

• Please refer to the FCNB website for the requirements of the CCRC.

Step 6: Get Sponsored by a Mortgage Brokerage

• After being hired by a mortgage company, you will initiate the licensing application, download the application and send to the Principal Broker for approval. The brokerage will submit the signed application for you.

Step 7: Licensing Costs and Renewals

• Please make sure to submit the payment via your portal. The licensing fee is $300.
• Every licensed mortgage associate will need to renew the license by March 31 each year.

Saskatchewan

Embark on your journey to becoming a successful mortgage associate in Saskatchewan! This comprehensive guide covers all the necessary steps, from meeting the basic requirements to obtaining your mortgage agent license on Financial and Consumer Affairs Authority (FCAA) website.

Step 1: Basic Requirements for Aspiring Mortgage Associates

• Age and Residency: Be at least 18 years old and a Canadian resident or holding a lawful study and work permit.
• Education: have a minimum of Canadian high school or equivalent
• Saskatchewan Mailing Address: Have a valid Saskatchewan address (not a P.O. box) for registered mail services.

Step 2: Create an Account

• Create an Account on FCAA portal RLC

Step 3: Educational Pathway - Complete the Pre-Licensing Course

• Candidates have to complete the Saskatchewan Mortgage Associate Course within two years before applying for the license. The course fee is $375.
• The approved course provider is Mortgage Professionals Canada (MPC).

Step 4: Educational Pathway - Pass the Licensing Exam

• The course takes roughly 40 hours online with a final exam. The exam contains 100 multiple choice questions with a 60% passing benchmark.

Step 5: Get Sponsored by a Mortgage Brokerage

• After being hired by a mortgage company, the company will initiate the licensing application for you.

Step 6: Complete a Certified Criminal Record Check (CCRC)

• After the mortgage company submits your application, you will receive an email notification from FCAA to complete your portion of the application, including submitting the criminal check.

Step 7: Licensing Costs and Renewals

• You will submit the payment in your portal. The first time licensing fee is $650.
• Every licensed mortgage associate will need to renew the license by June 30 each year. The renewal fee is $400.

Manitoba

Manitoba uses registration terminology rather than numbered public licences. Mortgage salespersons and authorized officials register under The Mortgage Brokers Act (Manitoba) and work through a registered mortgage brokerage.

Step 1: Join a Registered Mortgage Brokerage

• A mortgage salesperson is registered with a specific employing brokerage and may only act on behalf of that brokerage.

Step 2: Educational Pathway - Complete the Pre-Licensing Course

• Candidates must complete the Manitoba Mortgage Salesperson Course within the two years before applying for registration.
• The course fee is $375. The approved course provider is Mortgage Professionals Canada (MPC).

Step 3: Apply for Registration

• Complete Manitoba's application for registration as a mortgage salesperson or authorized official. The current form and regulator contact details are available through the Province of Manitoba forms portal.

Step 4: Complete the Regulator's Requirements

• Provide the suitability and supporting information requested by the Manitoba Securities Commission. The Commission may also require a prescribed course and written examination.

Step 5: Registration Costs and Renewals

• The current regulation lists a $400 fee for a new mortgage salesperson registration and a $400 renewal fee.
• Registrations expire on May 31 each year. A salesperson's renewal application is submitted by their employing registered mortgage broker.

Manitoba does not publish a licence or registration number for website disclosures. Registration status can instead be verified by name in the Manitoba public registry.