Your own local mortgage brokerage
Open a small brokerage with a street-front office, a few agents and a name your community knows.
- C$12k-50k
- Full-time
- Own premises
- Licence or permit needed
Estimates for a small start in Canada, not guarantees.
What it is
You hold the principal broker role and run a brokerage under your own name. You arrange mortgages yourself and may bring in a few agents. You handle compliance, lender relationships and a small local office.
Your first three steps
- Check your provincial regulator's requirements for the principal broker role, including experience and exams
- Draw up a simple budget covering licensing, insurance, office rent, software and several months of living costs
- Contact lenders and mortgage syndicators about becoming an approved brokerage, and ask about their volume requirements
Who pays
Lenders pay commission on funded mortgages. Some files may also carry client fees where your provincial rules allow.
How it makes money
You earn commission on your own deals plus a share of what your agents bring in, minus lender and staff costs. Renewals and referral partners build the pipeline over time.
Skills that help
- Mortgage expertise and compliance knowledge
- Leading and supporting a small team
- Local networking and marketing
- Managing cash flow
Watch out for
- Principal broker requirements and brokerage licensing differ by province, so check with your regulator
- Errors and omissions insurance and commercial general liability insurance
- You are responsible for your agents' compliance, files and record keeping
- Office rent and staff costs continue when the market slows
- Check municipal rules on signage and business licences for your premises
Deep research report · Canada
Everything you need to start: your own local mortgage brokerage
Researched with live web search for Canada: real startup prices, the licences and rules, what others charge, a break-even example, how to find your first customers and a 30-day launch plan. With sources.
- Startup costs with real prices
- Licences, registration and rules
- Pricing: what others charge
- Break-even example
- Finding your first customers
- 30-day launch plan
- Risks and how to reduce them
Questions people ask
How much does it cost to open a mortgage brokerage in Canada?
Startup costs are typically estimated at around $12,000 to $50,000, depending on your office and set-up. Office rent and staff costs continue when the market slows, so plan your cash flow with that in mind.
How much revenue can a small mortgage brokerage make?
Monthly revenue is typically estimated at around $5,000 to $25,000, depending on how many mortgages you and your agents fund and on market conditions. Fixed costs such as rent and staff continue when the market slows.
What rules apply to running a mortgage brokerage in Canada?
Principal broker requirements and brokerage licensing differ by province, so check with your regulator. Also check errors and omissions and commercial general liability insurance, and remember you are responsible for your agents' compliance, files and record keeping.
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