This section focuses on the credentials of a licensed and trained mortgage professional.

They are licensed
To become a mortgage broker in Ontario you need to take a course, pass an exam and have a license. There are also ongoing courses that a mortgage broker needs to complete.

They are true experts in their field
A good broker has a knowledge of not only mortgages and lenders, but the real estate market as a whole.

In order to find the best solution for your needs and assure that you are getting great advice, a mortgage broker needs to stay up-to-date with industry updates. Also, mortgage rules and what is happening around Ottawa, Ontario and the rest of Canada. Furthermore, mortgage brokers will be networking with lawyers, home inspectors, real estate agents and more. This helps broaden their knowledge, guidance and advice.

A honest opinion
Mortgage agents are highly regulated in Ontario. The idea of hidden fees from a mortgage broker or lender would be hard to fathom. The mortgage broker must provide you with a document that outlines the details of the mortgage and any cost associated with their service. Also any costs with the transaction is a whole from an appraisal fee, closings costs, mortgage insurer premium and so on.
You have to agree in writing to any fees charged by the lender or mortgage broker prior to closing.
Learn more: What are all theses insurances?