Home-Based mortgage agent

The lender usually pays the commission when a mortgage funds. Some brokers also charge a fee to clients with harder-to-place files, where the rules in their province allow it.

A commission on each funded mortgage or renewal, usually split with your brokerage. Referrals from realtors, lawyers and past clients grow the income, and renewals bring repeat business over time.

• Comfortable with numbers and paperwork
• Clear, patient communication
• Building referral relationships
• Self-discipline when income is irregular

• Licensing is set by each province or territory and you must be licensed before arranging mortgages. Examples of regulators include FSRA in Ontario, BCFSA in British Columbia and the AMF in Quebec, so confirm which body applies where you will work
• Errors and omissions insurance, which is often arranged through the brokerage
• Income can take months to start and varies with interest rates and the housing market
• Commission can be clawed back in some cases, such as when a client pays out early, so check your brokerage agreement
• Strict rules on disclosure, client identification and privacy

Startup costs are typically estimated at around $2,000 to $7,000, depending on your set-up and how you work. Errors and omissions insurance is often arranged through the brokerage, so check what your brokerage covers.

Monthly revenue is typically estimated at around $1,500 to $7,500, depending on your client flow, interest rates and the housing market. Income can take months to start, and commission can be clawed back in some cases, so check your brokerage agreement.

Licensing is set by each province or territory, and you must be licensed before arranging mortgages. Regulators include FSRA in Ontario, BCFSA in British Columbia and the AMF in Quebec, so confirm which body applies where you will work.