Experience
No prior agent experience required
New application fee
$941, prorated by application month
Background check
Triton; current listed fee $19.15
Sponsorship
One licensed Ontario brokerage
On this page
What a Level 1 agent can do
A Mortgage Agent Level 1 deals or trades in mortgages for a licensed brokerage under supervision. The licence is limited to mortgages from financial institutions and lenders approved under the National Housing Act as described by FSRA.
That distinction matters operationally. A new Level 1 agent needs to learn when a file still fits an institutional route and when the borrower’s circumstances may require a Level 2 agent or broker to take responsibility for a private-lender transaction.
Current Level 1 licensing requirements
FSRA requires the applicant to be at least 18, be a resident of Canada, have an Ontario mailing address capable of receiving registered mail, have a valid email address, complete the approved Level 1 program, be authorized by a brokerage and be suitable for licensing.
- Apply within two years of completing the approved Level 1 program.
- Use the FSRA-directed Triton process for the required background check.
- The sponsoring Principal Broker reviews and submits the application.
- Do not conduct licensed mortgage activity until the licence is active.
Application, renewal and continuing education
FSRA currently lists a $941 new Level 1 application fee, prorated based on the month of application. It lists a $19.15 Triton fee for the background check. The current annual Level 1 renewal fee is $841.
Continuing education is a separate obligation. For the 2024–2026 CE cycle, Level 1 and Level 2 agents were required to complete 5 hours of Conduct CE plus 10 hours of Professional CE. Future CE cycles should always be checked against FSRA’s current rules.
When to start thinking about Level 2
Level 2 is not available immediately to a brand-new agent. FSRA requires at least 12 months of Level 1 experience over the last 24 months and completion of the approved Private Mortgages Course within the prescribed window.
Use the Level 1 period to become very strong at institutional underwriting fundamentals. Private lending is not a substitute for knowing why a bank or alternative institutional lender will or will not accept a file.
Career next step
Considering a brokerage?
Use the Career Academy to compare the profession first. If our operating philosophy fits what you are looking for, you can then introduce yourself through the dedicated agent application pathway.
Agent applicationFrequently asked questions
Can a Level 1 mortgage agent arrange private mortgages in Ontario?
Level 1 agents are restricted to the lender classes permitted by the Level 1 licence. Level 2 agents can deal with all mortgage lenders, including private lenders.
How much is the Level 1 licence fee?
FSRA currently lists the new Level 1 application fee as $941, prorated based on the month the application is submitted.
How long is the Level 1 course valid?
FSRA says you must apply for a Level 1 licence within two years of successfully completing an approved Level 1 education program.
Primary sources
Licensing rules and fees can change. These pages are reviewed against primary regulatory sources; always verify current requirements before applying or renewing.