Mortgage Agent Career Academy · Career

Mortgage Agent vs Mortgage Broker in Ontario

Compare Ontario Level 1, Level 2 and Mortgage Broker licences by lender scope, experience requirements, education and supervision responsibilities.

Reviewed by Parasdeep Singh, Principal BrokerLast reviewed August 25, 2026Ontario-specific

Level 1

Institutional/NHA-approved lender scope

Level 2

All mortgage lenders

Broker

All lenders + may supervise agents

Principal Broker

Separate brokerage oversight role

Ontario has three individual mortgage licence classes

Since April 1, 2023, Ontario distinguishes Mortgage Agent Level 1, Mortgage Agent Level 2 and Mortgage Broker. The classes are not interchangeable job titles; they define lender scope and, for brokers, supervisory capability.

Mortgage Agent Level 1

Level 1 is the entry licence. No prior mortgage-agent experience is required, but the applicant must complete the approved Level 1 program, be sponsored by a brokerage and meet FSRA’s other licensing and suitability requirements. The permitted lender classes are narrower than Level 2.

Mortgage Agent Level 2

Level 2 requires at least 12 months of Level 1 experience over the last 24 months plus the approved Private Mortgages Course. Level 2 can deal with all mortgage lenders, including private lenders.

Mortgage Broker

A Mortgage Broker requires at least 24 months of Level 2 experience over the last 36 months plus approved broker education. Brokers can deal with all mortgage lenders and may supervise Level 1 and Level 2 agents. A broker may also be appointed Principal Broker, subject to the applicable requirements.

For a consumer, ‘broker’ is often used casually to describe anyone in the broker channel. For licensing and compliance, the exact FSRA licence class matters.

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 application

Frequently asked questions

Is every mortgage agent a mortgage broker in Ontario?

No. Ontario has separate Level 1, Level 2 and Mortgage Broker licence classes.

What can a broker do that a Level 2 agent cannot?

Both can work with all mortgage lenders, but a Mortgage Broker may supervise mortgage agents and can be appointed Principal Broker if the other requirements are met.

Can I become a broker immediately after the Level 1 course?

No. The current path requires Level 1 experience, then Level 2, then at least 24 months of Level 2 experience over the last 36 months before the broker upgrade.

Primary sources

Licensing rules and fees can change. These pages are reviewed against primary regulatory sources; always verify current requirements before applying or renewing.