How to Become a Mortgage Broker in Canada: Licensing Requirements by Province (2026)

The Short Version: You Need a Provincial License

Every Canadian province requires a license to legally arrange mortgages for compensation, there is no federal mortgage broker license. You will complete an approved pre-licensing education course, pass an exam, and then work under a licensed brokerage before you can operate independently. The specific regulator, course provider, and requirements vary by province.

Ontario: FSRA

Ontario is regulated by the Financial Services Regulatory Authority of Ontario (FSRA). To start, complete an FSRA-approved mortgage agent education program for a Mortgage Agent Level 1 license, the standard entry point for new agents.

Ongoing continuing education (CE) requirements apply by license category, FSRA has been tightening conduct and technical knowledge requirements in recent CE cycles, so confirm current course content rather than relying on what a course covered a year or two ago.

British Columbia: BCFSA

British Columbia is regulated by BCFSA. To work as a mortgage broker or sub-mortgage broker, you must complete BCFSA-approved licensing education first.

Important timing note: BC is mid-transition. Effective October 13, 2026, the Mortgage Services Act (MSA) replaces the old Mortgage Brokers Act, introducing a full licensing framework across four service categories, with new brokers required to obtain a Mortgage Broker license and work under a licensed Principal Broker within a licensed brokerage. If you are getting licensed in BC around this transition, confirm which framework your course and application fall under, see our full guide on the BC MSA for brokers.

Alberta: RECA

Alberta is regulated by the Real Estate Council of Alberta (RECA). If you deal in mortgages on behalf of another person for compensation, you generally need a mortgage broker license through RECA, which sets its own pre-licensing education and exam requirements.

Quebec: AMF

Quebec is regulated by the Autorité des marchés financiers (AMF), under a framework involving formal training, exams, a probationary period, and certification steps, generally the most structured path of the four provinces covered here.

Provincial Regulators at a Glance

A quick reference for which regulator and entry-level license applies where you plan to practice:

After You Are Licensed: Finding a Brokerage

You cannot operate independently as a brand-new agent, you need to be sponsored by a licensed brokerage. What to weigh when choosing one as a new agent:

• Mentorship and deal-review support in your first 90 days matters more than the headline commission split, a lower split with real support from a broker manager often outperforms a higher split with none • Which lenders and lender tiers the brokerage has strong relationships with • What tools (CRM, lender matching, deal submission software) the brokerage provides vs what you need to bring yourself • Training structure: some brokerages run formal onboarding programs, others expect you to learn on live deals

What Tools You Need on Day One

New brokers don't need an expensive stack to start. The minimum: a CRM to track leads and pipeline, access to your brokerage's deal submission platform (commonly Filogix Expert), and a way to compare lender criteria quickly rather than calling BDMs one at a time for every file. bips includes client and deal tracking free with its placement engine, and the first 3 placements cost nothing, which makes it a practical starting point before paying for unlimited placements at $150/month once your deal volume justifies it.