The cheapest and fastest licence of the three provinces, and the one with the most providers to choose from. Here is how it works.
Written by A.I.M.I. Collective Mortgage Group, Brokerage editorial team
Published September 2026 · Last reviewed 5 October 2026
Official sources: Financial Services Regulatory Authority of Ontario (FSRA)
Ontario licenses new entrants as mortgage agent level 1 through FSRA. You complete one FSRA approved Level 1 course, pass its exam, then a licensed brokerage sponsors your application. Level 1 lets you arrange mortgages with financial institutions and lenders approved under the National Housing Act. Private lenders and MICs come later with level 2.
Ontario's Level 1 mortgage agent course is FSRA approved, offered by four providers, runs about 47 hours and costs roughly $360 to $450. Add the exam, a sponsoring brokerage and the $941 FSRA licence fee, and you are under $1,500 all in. Two to three months from start to licence is realistic.
Mortgage Professionals Canada, Canadian Mortgage Brokers Association Ontario, the Real Estate and Mortgage Institute of Canada (REMIC), and Humber Polytechnic. French language delivery is available.
REMIC lists $358 online, $365 live webcast and $445 in class. CMBA Ontario charges $365 in every format, and Mortgage Professionals Canada $399 to $429. See every provider compared.
Around 47 hours of study, finished in anywhere from one week to six months. REMIC's exam is three hours, 50 multiple choice questions, 60 percent to pass, first attempt included.
FSRA's new licence fee, prorated by when in the fiscal year you apply. You must apply within two years of finishing the course.
In Ontario you cannot apply on your own. A licensed brokerage authorises you and sponsors the application, which means you are choosing a brokerage before you have a licence. Choose on mentor, lender status and processing support, not on the split, because your first year income depends on the first three far more than the fourth.
The course teaches the rules. It does not teach you how to structure a self employed file, which lender takes a bruised credit refinance, how to build a pipeline before your first pay cheque, or what a normal day looks like. Read a day in the life of a mortgage broker, what the job actually is, the first 90 days plan, and what to look for in your first brokerage.
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.
We onboard licensed brokers only, so the licence is yours to earn before we can help with anything else. After that you get weekly lender training, a team chat where new and experienced brokers answer around the clock, and senior brokers who will work your first files alongside you. There is no scripted programme with a guaranteed timeline. There is a room full of people who pick up.
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.
Step by step: the course, exam and sponsoring brokerage you need to become a mortgage broker in Ontario, BC or Alberta, plus the cost and timeline.
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.
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.