A broker arranges; a lender provides the financing
A mortgage broker or agent may help assess options and arrange financing with a lender, within the scope of their authorization. A direct lender provides financing under its own lending criteria. The same brand can have more than one role; ask which legal entity is acting in your transaction.
Clarify the selection and the compensation
Ask what alternatives were considered, which lenders the intermediary can work with, who pays the intermediary, and what you pay. A statement that someone has many lenders is not a guarantee of a suitable offer.
Verify authorization for your province
Check the professional and firm through the relevant official registry. Names, registration classes, and permitted activities matter. Do not assume authorization in one province permits every activity elsewhere.
Questions for your first conversation
Bring these questions to the provider:
- Are you arranging the financing or lending your own funds?
- Who is the lender named in the commitment?
- What fees or referral payments apply?
- Why is the proposed mortgage suitable compared with alternatives?
- Who should I contact with questions or a complaint?
Check the official sources.
Use the regulator for the property’s province. These links do not imply an endorsement of this website.