The steps to a mortgage broker licence in Ontario, British Columbia and Alberta: the approved course, the exam, a sponsoring brokerage, the cost and how long it takes.
Written by A.I.M.I. Collective Mortgage Group, Brokerage editorial team
Published October 2026 · Last reviewed 6 October 2026
Official sources: Financial Services Regulatory Authority of Ontario (FSRA), BC Financial Services Authority (BCFSA), Real Estate Council of Alberta (RECA)
To become a mortgage broker in Canada you take your province's approved licensing course, pass the exam, and apply for a licence through a brokerage that sponsors you. In Ontario that is the FSRA Level 1 mortgage agent course, about $360 to $450 and 47 hours. In British Columbia it is UBC Sauder's Mortgage Services Licensing Course at $1,500. In Alberta it is two RECA recognised courses at about $1,500 each. A licence from one province does not carry over to another.
Regulator: FSRA. Course: Level 1 mortgage agent, about 47 hours, $360 to $450. Licence fee $941. Under $1,500 all in, often two to three months. Ontario steps
Regulator: BCFSA. Course: UBC Sauder Mortgage Services Licensing Course, $1,500 plus $200 per exam attempt, twenty assignments. About $2,000 to $2,500 before licensing fees. BC steps
Regulator: RECA. Two recognised courses at about $1,500 each, the RECA exams and a $575 licence fee. Around $4,000 all in, three to nine months. Alberta steps
Be at least 18, live in Canada and be able to pass a criminal record check. Each regulator adds its own suitability test.
Only the course your regulator recognises counts. Online and self paced options exist in all three provinces.
Book it through the course provider. Budget for a possible retake, since some provinces charge per attempt, such as $200 in BC.
Your licence is issued through a licensed brokerage, so you need one lined up before you apply. Most people choose while finishing the course.
The brokerage submits or supports the application with the regulator. Then you can arrange mortgages, and the first client file begins.
Leave your name, province and the month you expect to write the exam. We will check in around then, and when you have passed we will walk you through what a brokerage needs from you.
In everyday speech everyone is a mortgage broker. On paper the entry licence has a different name in each province: mortgage agent Level 1 in Ontario, mortgage associate in Alberta, and a licence held through a brokerage in British Columbia under the new Mortgage Services Act. Moving up to a broker licence takes licensed experience and another course. See mortgage agent vs mortgage broker for the detail.
Ontario is the fastest and cheapest, Alberta the slowest and most expensive, and BC sits in between. Our side by side comparison of mortgage broker courses in BC, Alberta and Ontario sets out cost, hours and exams.
Income is commission, paid when a mortgage funds, so the first months are lean. A first funded deal commonly takes two to four months. Read how much mortgage brokers make and how mortgage agent jobs really work before you choose a brokerage.
A.I.M.I. Collective onboards licensed mortgage agents and brokers in BC, Alberta and Ontario. We do not sponsor the licensing course, but once you have passed the exam we will walk you through what a brokerage needs from you and what your first year looks like here.
Upgrade from Level 1 to Level 2 in Ontario: 12 months licensed, the Private Mortgages Course, no FSRA fee, and what Level 2 lets you do.
What mortgage agent and broker jobs in Canada actually are: commission not salary, licensed through a brokerage, and what to compare before you join one.
REMIC, Mortgage Professionals Canada, CMBA Ontario, Humber, UBC Sauder, AMBA and Alberta Real Estate School compared on price, format and exam rules.
The difference between a mortgage agent and a mortgage broker in Ontario, BC and Alberta, what Level 1 and Level 2 agents can do, and how to move up.
Book a discovery call. We onboard licensed brokers in BC, Alberta and Ontario and will show you exactly what your first 90 days look like here.