Not in Ontario, British Columbia or Alberta. The provincial mortgage licence covers commercial mortgages. In Ontario, private commercial deals need a Level 2 agent or broker licence like any private mortgage.
The same provincial licence that covers residential mortgages covers commercial ones. There is no separate commercial licence in Ontario, British Columbia or Alberta.
What commercial work needs instead is different skills, different lenders and usually help on the first files. Underwriting looks at the property and its income as much as the borrower, and the lender list is different from residential.
A new agent can do commercial deals with support. Co brokering with an experienced commercial broker is the usual way to learn without risking the client's deal.
Commercial is a core pillar at A.I.M.I. Collective. Residential brokers bring their first commercial files to the Deal Desk for structuring and lender placement, so they learn on real deals without losing them.
The licence, the skills, the lenders and how to get your first commercial files funded.
How to become a commercial mortgage agentWhy commercial files are the fastest lever for a residential broker at $10 to $30 million, where the files already sit in your book, and how to start.
A practical path for residential brokers into commercial mortgages: which deals to start with, what lenders need and how an underwriting desk helps.
A commercial file at A.I.M.I. Collective, step by step: the first email, the 24 hour Deal Desk review, term sheet, reports, timeline and fee.
Bring your questions to a discovery call and a broker owner will answer them directly.