Real Estate and Mortgage Institute of Canada Inc.
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Mortgage Brokers License – How to get licensed in Ontario – 4 Steps

REMIC 12th Edition

I’m glad you’re interested in getting a mortgage brokers license.  It is a wonderful industry with literally unlimited income potential.  In Ontario there is a straightforward three step process to get your mortgage agent license (when you first start in the industry it’s called a mortgage agent license – once you’ve been a licensed mortgage agent for at least two years and you complete the broker educational course you can apply to change your license to a mortgage brokers license).  I’m going to list the steps and then explain them in detail.

1. Pass the FSCO approved mortgage agent course for licensing (offered by REMIC), also referred to as the mortgage agent licensing course

2. Get hired by a FSCO licensed mortgage brokerage (REMIC offers free job placement assistance for those who need it)

3. Get licensed.  The FSCO licensed mortgage brokerage applies to FSCO for your license.  We’ll discuss the licensing requirements below.

4. Upgrade to mortgage broker license after you’ve been a licensed agent for two years and meet the broker educational requirements.

Detailed Steps to get your Mortgage Brokers License

1. Pass the FSCO approved mortgage agent course for licensing

There are four mortgage agent course providers in Ontario (this is the first step to get a mortgage brokers license): REMIC, Seneca College (uses the REMIC textbook), IMBA and CAAMP (two trade associations).  Out of these four REMIC teaches and has more students licensed by FSCO than all other providers combined.    You can view a comparison of the providers here, at

The course ranges in price and duration, depending on the provider.  REMIC offers the least expensive (from $298 to $385 all in) and quickest way (online or in class in as little as one week) to complete the mortgage agent course.  You can view the course options here

2. Get hired by a FSCO licensed mortgage brokerage

This is a fairly easy, but very important step.  There are many brokerages that are hiring both full and part time mortgage agents, and offer everything from web sites to full training and ongoing support.  You need to be aware that there are different standards of training and support.  In other words, while a brokerage says it offers great training, it may not be as great as you want it to be.  So what can you do?

In the REMIC course there is a section that discusses how to choose the right brokerage.  It includes a list of questions that you need to ask to ensure you’re getting hired by a brokerage that you will enjoy working for.  Choosing a great brokerage is definitely an important step in the process to getting your mortgage brokers license.

In addition REMIC is the only educational provider that offers a free job placement assistance program.  This program will help you choose a brokerage that you feel is right for you.   These are only two reasons to choose REMIC for your mortgage broker career.  Click here to read them all.

3. Get licensed.  The FSCO licensed mortgage brokerage applies to FSCO for your mortgage agent license. 

According to FSCO, to be eligible for licensing you must meet these minimum requirements:

  • be at least 18 years old
  • be a resident of Canada
  • have a mailing address in Ontario that is not a post office box and that is suitable to permit services by registered mail
  • be authorized by a brokerage to deal or trade in mortgages on its behalf (this means that you need to be hired by a brokerage before you can get your license)
  • have successfully completed an approved education program for mortgage agents within two years before he or she applies for the license (this means the REMIC course is valid for two years from the time you pass it;  you need to get your license within those two years)

Costs for your license

You will then have to pay for your license to FSCO. Here is a breakdown of the costs to FSCO to begin your mortgage career:

  • Licenses come up for renewal every two years, with the next renewal on March 31, 2020 (the last one was March 31, 2018). The fee is calculated like this: $100 + (# of months to March 31, 2018 x $44).
  • For example, if you applied for a license on December 1, 2018 then you would pay an application fee of $100 plus (16 months to March 1, 2020 x $44) = $100 + $704 = $804

Additional costs

Typically the only additional cost you’ll need to pay is your portion of your brokerage’s errors and omissions insurance (referred to as E & O).  The brokerage will have a master E & O policy that you will be covered under. To help pay for that policy the brokerage typically charges every agent and broker to be covered under their policy.  This can cost a few hundred dollars per year.  

Be aware that some brokerages will also have additional fees.  These may include registration fees, training fees, marketing fees and so on.  It’s important to interview with several mortgage brokerages and choose the one that you feel is best suited for what you need and the level of support you need in your new career.  Using our list of questions to ask when being interviewed by a brokerage will definitely help you understand the differences in brokerages.

4. Upgrade to mortgage broker license

Once you’ve been a licensed mortgage agent for at least two years and have completed the mortgage broker course, you can apply to change your license to a broker.  The main difference between an agent and broker license is that a broker can supervise mortgage agents and be the Principal Broker (similar to chief compliance officer) of a mortgage brokerage.

In Summary

In total your new career should cost you approximately $1,800 to $2,000 to get started when you add up the costs involved.  For example if you were to get a mortgage agent license on April 1st, 2018, the costs would be approximately $1,754, depending on the cost of the course you take and the cost of the E & O.

  • Education:  $298
  • Mortgage agent licensing: $1,156 ($44 x 24 months plus $100 application fee)
  • E & O: $300

Your income potential is unlimited, making this a fantastic investment.

When you’re ready to become a licensed mortgage agent and get your mortgage brokers license, REMIC will be here to help.  Once you’ve passed the course REMIC will be here to get you started in this exciting new career.


  • Ameena Nouman June 24, 2019 at 5:25 am

    My nephew is studying here in Canada on a study permit. Is he eligible to take up this course on study permit?

    • Joseph White June 24, 2019 at 12:34 pm

      Yes, he can take the course but must have one piece of government issued, non-expired photo ID and one other piece of identification.

  • Ernie June 17, 2019 at 7:52 am

    I understand that you have to be hired by a Mortgage Broker for a full 24 month period, are you required to work full time or can this be part time? Is there a specified number of hours required?

    • Joseph White June 17, 2019 at 1:18 pm

      To become a broker, which means you can start your own brokerage or become a principal broker, you must be licensed for at least two years as an agent. You can work part-time and there are no specified number of hours that you must have.
      Joe White

  • Harvey June 15, 2019 at 8:03 am


    I am planning to take this course but I am hesitant if I Can get someone (mortgage brokerage firm) around Ottawa area who could sponsor me.

    Thank you.


    • Joseph White June 17, 2019 at 1:17 pm

      Hi Harvey,
      There are many brokerages in Ottawa that are hiring. I suggest you do a google search of mortgage brokerages in Ottawa and then start calling them. You can also go to, click on the Mortgage Brokerage button, enter Ottawa in the City/Town and click Search. You will get a listing of all brokerages in Ottawa.
      Let me know if you need any assistance.
      Joe White

  • Elaine May 17, 2019 at 10:05 pm

    I am from the UK on a 2 year work visa. After 2 years, I plan to apply for Canadian Permanent Residency. Am I able to take the course and get licensed? I’m not sure what the “be a resident of Canada” means (ie living in Canada vs Permanent Resident status). Thank you!

  • JR May 4, 2019 at 10:39 pm

    how difficult is it to get hired by mortgage broker after completing agent course?

    • Joe White May 6, 2019 at 4:52 pm

      Most brokerages hire new agents, as new agents are on commission. But you must also be prepared to apply with your resume and references.

  • Ash April 20, 2019 at 12:02 pm

    Hi, my wife is here in Canada on a visitor permit and her sponsorship application is in process. Can she take your course and once she is a Canadian PR take the job as Agent and then apply for the brokerage license.


    • Joe White April 22, 2019 at 1:06 pm

      Yes, She can take the course. She only needs to meet licensing requirements once she is ready to get licensed, and the course certificate is valid for two years.
      Joe White

  • kirti April 19, 2019 at 4:24 pm


    Can I pay licensing fees on a monthly basis? and

    if any chance I have to cancel license I have to pay full 2 years licensing fees?

    Thank you

    • Joe White April 22, 2019 at 1:09 pm

      No, licensing fees are paid to the regulator and must be paid in full when you apply for the license. Currently licensing is valid until 2020, so you would have to pay a prorated amount until then.
      Here is a link to more info:

  • Gary April 3, 2019 at 7:36 am

    Hi, I already passed my agent course from Remic.
    Can you take the mortgage broker course before being licensed for 2 years?
    I dont see any links on directing to the brokers course.
    Please help.

    • Joe White April 3, 2019 at 10:48 am

      Yes, you can. The broker course is offered by Mortgage Professionals Canada.
      All the best!

  • Adewale January 13, 2019 at 9:34 pm


    Can a refugee claimant with undecided case take this course or be licensed as a Mortgage Agent?

    • Joe White January 14, 2019 at 1:25 am

      To take this course you need valid, government issued photo ID.
      To get licensed you need that plus you must be a Canadian resident.

  • Yousun December 21, 2018 at 2:34 am

    Does your mortgage agent course tuition $365 include textbooks?

    • Joe White December 21, 2018 at 2:51 pm

      Hi, yes it does. If you have any questions please feel free to call us or email

  • Linda August 22, 2018 at 9:36 pm

    My license expired in April 2013. Do I need to retake the course? #11645

    • Joe White September 2, 2018 at 6:00 pm

      Hi Linda, yes you do. Please contact us directly for more info.

  • Sundar July 15, 2018 at 4:16 am

    Hi, Guys
    Currently I’m working as a Branch manager in one of the leading banks in Canada. I helped lots of clients get mortgage approval in the past and currently I also act as a compliance officer for my financial advisors .

    Based on my information above,
    can I have mortgage license?
    If I can, am I able to work as mortgage agent or become mortgage broker in future while working at my Bank?

    • Joe White July 15, 2018 at 4:04 pm

      While this is likely not necessarily prohibited by the MBLAA it is likely that this will violate your employment contract. I suggest you check with your employer first.

  • Jawa chaudhry March 4, 2018 at 12:41 pm


    I have been mortgage agent for over 7 years and would like to get my brokers license. How can enroll and what is the process?

  • Kaitlan December 21, 2017 at 12:41 am

    Does it have to be my personal address? I have a PO box.

    • Joe White December 28, 2017 at 3:13 pm

      It doesn’t have to be your personal address but it can NOT be a PO Box. As stated,
      “have a mailing address in Ontario that is not a post office box and that is suitable to permit services by registered mail”

  • gary December 14, 2017 at 4:04 am

    My licences expired on march 31, 2012. hasn’t been renewed as yet. What do i need to do to renew my licence. Do I need to take exam all over again?

    • Joe White December 18, 2017 at 6:13 pm

      You will need to retake the course and re-apply for a new license if you haven’t been licensed in 5 years. Please feel free to contact us and we’ll be happy to help!

  • Jobiemae October 11, 2017 at 3:59 pm

    I have a full-time day job. Can I be a mortgage agent part-time or I’m required to work full-time as an agent?

  • Alex October 6, 2017 at 5:42 pm

    Can a Mortgage Broker also be an Accountant or Bookkeeper in Ontario?

    • Joe White October 10, 2017 at 5:35 pm

      Yes, the MBLAA does not specifically prohibit a mortgage broker from having any other specific job, however it does state that the other job cannot jeopardize your ability to do your job as a mortgage broker.

  • Joe White October 1, 2017 at 5:19 pm

    No, the regulator, FSCO, does that when you apply for your license.

  • Felicia Rosmiyati September 5, 2017 at 6:02 am


    “Be a resident of Canada” does it mean has to be a citizen or permanent resident? I am not PR or citizen, I am international student and just finished my college and will have 3 years work permit, can I take the mortgage agent course?

    Thank you

    • Joe White September 5, 2017 at 3:23 pm

      No, you don’t need to be a permanent resident to take the course.

  • Ange August 21, 2017 at 4:58 pm

    This article is unclear when differentiating between Mortgage Agent and Broker. In fact, it blurs the two, when they are not the same thing. This article should be called “your Mortgage Agent’s license”, not “your Mortgage Broker’s license”. If one followed all your steps, you would only have a Mortgage Agent’s license, not a Mortgage Broker’s license. And you also left out that you actually require 24m of experience as a Mortgage Agent before obtaining your Mortgage Broker License.

    • Joe White September 5, 2017 at 3:27 pm

      The first step to getting a broker’s license is the agent license. That is a must. You must follow the steps to get an agent license before you can get a broker license.

    • Joe White September 5, 2017 at 3:33 pm

      The first step to getting a broker’s license is the agent license. That is a must. You must follow the steps to get an agent license before you can get a broker license.
      We’ve also added the final step on getting the broker license after being licensed for two years and completing the broker course.
      Thanks for your input!

  • joe June 21, 2017 at 7:11 pm

    Hi i am a realtor under toronto real estate board. Is it possible for me to become a mortgage broker Please

    • Joe White June 26, 2017 at 5:39 pm

      Yes, you can have two licenses. You will need to take the mortgage course and then get hired by a mortgage brokerage. That brokerage then applies to FSCO for your license.

  • Kimar January 15, 2017 at 11:51 pm

    how much does it cost to take the test? for the mortgage agent and broker

    • Joe White January 16, 2017 at 2:35 am

      Hi and thanks for your question.
      The exam for th mortgag agent course is not a separate cost. It is included in the cost of tuition. For more information please feel free to respond to this post, call us during the day or use our live help.

  • Natalya August 23, 2016 at 2:47 pm

    Do you provide the Mortgage Broker Course, I already have my Mortgage Agent Course

  • D July 11, 2016 at 11:55 am

    Do I have to hired by a brokerage prior to starting the course?

    • Joe White July 18, 2016 at 4:08 pm

      No, you have up to two years to get hired by a brokerage after passing the course.

  • Denise Perrin June 1, 2016 at 7:26 pm

    Hi there!

    Am I permitted to have a mortgage agent license and my life license?

    • Joe White June 6, 2016 at 4:17 pm

      Yes, you can hold both.

  • waqar ahmed January 29, 2016 at 11:31 pm

    I have already registered and would like to attend in class study period starting from Feb 01-5, pl let me know the process for the same.

    • Joe White January 30, 2016 at 5:34 pm

      Please contact us directly at 877 447 3642 or email for assistance on this specific question.

  • Jaena Alano December 6, 2015 at 9:18 am

    Is my having a mortgage broker license be in conflict with Canadian Securities License?

    • Joe White December 7, 2015 at 7:33 pm

      The MBLAA, the legislation governing the mortgage brokerage industry in Ontario does not prohibit you from having other licenses. However, you should check with your regulator to ensure that they allow you to hold other licenses.

    • Joe White January 30, 2016 at 5:35 pm

      I apologize for the late response. Typically questions are asked via live help, by calling or emailing us.
      No it is not a conflict.

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