What is a Mortgage Agent or Mortgage Planner?

In order to be a Mortgage Agent, in most provinces, one must first go through vigorous educational training and requirements. Once licensed, depending on the province, you are deemed to be a mortgage agent or other titles (a Mortgage Sub-Broker is the term used in BC). Unfortunately the industry has not settled on a title that is uniform across Canada at this time. You will encounter terms such as Mortgage Agent, Mortgage Sub-broker, Mortgage Planner and various others.

I prefer the title “Mortgage Planner” as fundamentally this is what I do. I help you plan your Mortgage so that it suits your goals and needs.Unlike the banks mortgage specialists, I don’t work for any particular lender; I work for you the home buyer. There are over 50 different lenders out there including the major banks, that offer a range of different mortgage products and rates. An independent mortgage broker has access to these options and can shop, compare, and recommend the product that’s right for you and your situation.