The mortgage industry in Ontario is booming, with rising demand for real estate professionals, now is a great time to become a licensed mortgage agent. Whether you’re switching careers or entering the workforce for the first time, it’s important to understand how long the licensing process takes.
Timing matters, especially for new agents eager to start earning and building their client base. The path to becoming licensed can vary based on your personal pace, the course provider you choose, and how quickly you find a sponsoring brokerage. Let’s break it down.
You can become a mortgage agent in Ontario in a process of 2 weeks, but for most people, it takes between 4 to 12 weeks.
Several factors affect your timeline:
- Course duration (self-paced vs. instructor-led)
- How quickly you secure a brokerage
- How fast FSRA processes your application
Step-by-Step Breakdown of the Process:
Step 1: Check FSRA Eligibility Requirements:
Before anything else, make sure you meet FSRA’s basic licensing criteria. You must be:
- 18 years or older: A Canadian resident with an Ontario mailing address (no P.O. box) and a valid email.
- Employed by a licensed brokerage: In Ontario, you can’t practice independently as an agent – you need a sponsoring brokerage to submit your licence application
- Suitable to hold a licence: FSRA will verify your background (criminal record, credit history, etc.) to ensure you’re of good character.
- Ready for the education: You will need to complete an FSRA-approved mortgage agent course Ontario (Level 1) and pass the final exam.
FSRA also requires that you apply for your mortgage licensing process Ontario within two years of finishing the approved course. Confirming these prerequisites early helps ensure a smooth licensing process.
Step 2: Complete an FSRA-Approved Mortgage Agent Course
Next, enroll in an FSRA-approved mortgage agent training program. These courses teach you mortgage products, industry regulations, ethics and more, and they culminate in a final exam.
Several institutions offer identical accredited curriculum, popular providers include Mortgage Professionals Canada (MPC), CMBA Ontario (formerly IMBA), the Real Estate & Mortgage Institute of Canada (REMIC), and Humber Polytechnic.
Training can be delivered in different formats. For example, MPC’s mortgage agent course Ontario can be completed in-class over 5 full days or online (about 40 hours). You generally have up to 6 months to finish after registering, then take the course exam. Once you pass, you’ll get a certificate of completion – keep this, as it’s required for your licence application.
Step 3: Find a Sponsoring Mortgage Brokerage
While completing your FSRA approved mortgage course (or once it’s done), start looking for a licensed mortgage brokerage. In Ontario, a mortgage agent must be sponsored by a brokerage to legally arrange mortgages. Your sponsoring brokerage will mentor you and handle your licence application.
Choosing the right brokerage: Look for a firm with strong training and support, a wide panel of lenders, and a commission structure that fits your goals. A good broker offers mentorship, helps you learn the ropes, and connects you with clients. Mortgage Squad can introduce you to reputable Ontario brokerages that welcome new agents.
Step 4: Submit Your Mortgage Agent Licence Application
After you’re trained and sponsored, it’s time to apply for the mortgage licensing process Ontario. Your brokerage’s Principal Broker will initiate the application in FSRA’s Licensing Link system and send you instructions. The process typically includes:
- Criminal background check: FSRA requires applicants to complete a fingerprint-based background check through an approved vendor (Triton). You’ll be directed to Triton’s site via a link, complete the check and pay a small fee (around $19.15). The results are valid for 90 days.
- Complete the application form: Return to the FSRA application link, sent by your broker to fill out the rest of your information. You’ll upload your course certificate and confirm details about your sponsoring brokerage.
- Broker review and submission: Your Principal Broker reviews your application and submits it to FSRA along with the required fee.
Make sure you have the essentials ready: proof of FSRA approved mortgage course completion, details of your brokerage, and the licence fee (currently $941 for a two-year term, prorated by date). Once everything is in order and submitted, FSRA will send an email confirming they have received your application.
Step 5: FSRA Review and Licence Issuance
After submission, FSRA’s licensing team reviews your file. FSRA aims to process about 75% of applications within 20 business days, so typically you’ll have a decision within 3–4 weeks if no issues arise. You can monitor progress on the Licensing Link portal and watch your email for updates.
- Next steps: FSRA will email you once they receive and begin reviewing your application. If they need more information, they will contact you (this may extend the timeline).
- Final step: When your licence is approved, your name will appear on FSRA’s public registry as a licensed Mortgage Agent. At that point, you are officially authorized to deal in mortgages!
Step 6: Ongoing Requirements and Next Steps:
Once you’re licensed, remember to maintain and grow your credentials. Mortgage agent licenses in Ontario must be renewed every two years. FSRA also mandates continuing education (CE) credits to stay current. For example, agents are required to complete a 5-hour Conduct CE course and 10 hours of Professional CE by March 2026. Staying on top of these requirements keeps your licence active and shows lenders and clients you remain knowledgeable.
As you gain experience, you can focus on closing deals, expanding your network, and even considering an upgrade to a Mortgage Broker (Level 2) licence in the future.
Ready to start your mortgage career?
Mortgage Squad has the experience to guide you through every step of this timeline. Contact us to book a free consultation, join our mentorship program, or get connected with a sponsoring brokerage to become a mortgage agent in Ontario. We’ll help you navigate the Ontario mortgage licensing process with confidence, so you can launch your career as a licensed mortgage agent. Good luck on your journey!