Mortgage Brokers License – How to get licensed in Ontario – 3 Steps

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 brokers license (when you first start in the industry it’s called a mortgage agent 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.

Detailed Steps to get your Mortgage Broker’s License

1. Pass the FSCO approved mortgage agent course for licensing

 There are four mortgage agent course providers in Ontario: 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 $365 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 on choosing 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.

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 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)

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, 2018 (the last one was March 31, 2016). The fee is calculated like this: $100 + (# of months to March 31, 2018 x $30).

For example, if you applied for a license on December 1, 2016 then you would pay an application fee of $100 plus (16 months to March 1, 2018 x $30) = $100 + $480 = $580

In Summary

In total your new career should cost you approximately $1,000 to $1,500 to get started when you add up the education, licensing and costs charged by your brokerage for E & O insurance and other related costs. Your income potential is unlimited, making this a fantastic investment.

When you’re ready to become a licensed mortgage broker and get your mortgage broker 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.


  • 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.

  • 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.

  • 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.

  • 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.

  • Natalya August 23, 2016 at 2:47 pm

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

  • 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.

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