Why use a mortgage broker?
- One application, many lenders. A broker can take your file to big banks, credit unions, monoline, alternative and private lenders and bring back the best fit.
- Usually free on prime mortgages. The lender pays the broker's fee; on private and some alternative mortgages a fee may apply and must be disclosed on the bid.
- Help when your file isn't simple. Self-employed income, a recent credit issue, a rental or a tight closing: brokers know which lenders say yes.
- Licensed and regulated. Brokers and agents are licensed provincially (FSRA, BCFSA, RECA, AMF and others) and their licence is shown on every bid.
Broker vs bank: what's the difference?
| Mortgage broker | Your bank | |
|---|---|---|
| Lenders compared | Many (banks, credit unions, monolines, private) | One |
| Cost to you on prime mortgages | Usually $0 (lender pays) | $0 |
| Help with complex files | Yes, across lender types | Limited to the bank's rules |
| Best for | Rate shopping, renewals, self-employed, credit rebuild | Existing relationship, bundled banking |
Verified brokers and lenders
No approved brokers and lenders of this type yet. Post your request and licensed mortgage brokers serving your area can bid.
Which lender type suits you?
| Lender type | Cost | Flexibility | Speed | Best for |
|---|---|---|---|---|
| Bank | Low | Strict | 2–4 weeks | Strong credit and income |
| Credit union | Low | Moderate | 2–4 weeks | Local, member-focused |
| Monoline | Low | Moderate | 2–3 weeks | Prime borrowers via brokers |
| Alternative (B) | Medium | Flexible | 1–3 weeks | Self-employed, credit issues |
| Private / MIC / fund | Higher + fees | Equity-based | Days | Short-term, complex files |
How lenders are verified
Business email on the lender's own domain, licence checked on the regulator's register, logo and profile reviewed, and admin approval. Read more.
Lenders by province
Ontario ONBritish Columbia BCAlberta ABQuebec QCManitoba MBSaskatchewan SKNova Scotia NSNew Brunswick NBNewfoundland and Labrador NLPrince Edward Island PEYukon YTNorthwest Territories NTNunavut NU
Related
Challenge your mortgage rate
Connect with verified brokers and lenders bidding on your mortgage. Free for homeowners, four short steps.