Top 20 Mortgage Brokerages in BC

This Page's Content Was Last Updated: May 23, 2023
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Mortgage brokers are professionals who act on behalf of borrowers to find the best available mortgage rates in the market. They can negotiate the best deal for their clients by accessing the best deals offered by multiple lenders. Their remuneration is commission based, and they receive a commission of 0.5% to 1% from the lenders. Their service to the borrowers is free of cost. In Canada, mortgage brokering is a licensed profession, and the BC Financial Services Authority (BCFSA) is responsible for issuing licenses to mortgage brokers in British Columbia. Listed below are some of the best online and local brokerages in B.C.

Quick Picks

  • nesto: nesto is a leading digital lending platform offering a quick and easy online application and approval process. Their brokers are paid on a salary basis instead of a commission, thus offering unbiased advice and the best deals. The brokerage offers several benefits to applicants, such as cashback and an extended lock-in period.
  • MortgagePal: The Vancouver-based brokerage offers an easy online application and approval process. Borrowers can also choose their preferred broker at the time of application.
  • Dominion Lending Centres: One of the largest broker networks in Canada, with over 400 offices and 3,000 brokers. The network works with over 90 lenders to provide the best mortgage rates to its clients.
  • The Mortgage Group: One of the largest brokerages based out of Vancouver, with a team of over 800 mortgage professionals across Canada. Borrowers can easily find the closest broker from their website and quickly get the best available rates.

Top Mortgage Brokers in British Columbia

Best 5-Year Fixed Mortgage Rates in Canada CanadaLeaf
Mortgage Term:

British Columbia Online Brokerages with Competitive Rates

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Headquartered in Montreal, nesto is a digital lending platform that was established in 2018. Being an online broker, nesto’s application process is completely online. This provides great flexibility to the clients as they can apply from anywhere and anytime. The application can be completed in just a few minutes, and if the borrowers need advice regarding their application, they can consult with nesto’s agents over email or phone.

To ensure that nesto’s agents offer unbiased advice to their clients, the brokerage pays its agents a fixed salary instead of paying them a commission on the deals they finalize. According to nesto, the rates offered by them are the absolute minimum rates that a bank can offer, which is also called a ‘floor rate.’ The financing options currently offered by nesto include:

  • New Mortgage
  • Mortgage Renewal
  • Mortgage Refinance

To ensure that the clients get the best rate in the market, nesto offers a low rate guarantee. If the clients find a lower rate elsewhere, nesto will try to match or beat that rate and compensate the clients with $500 at closing for failing to do so. Apart from the rates with the regular 120-day lock-in period, nesto offers some featured rates with an extended lock-in period of 150 days. Borrowers can also benefit from other promotions offered by nesto, such as the cash back mortgage, where the borrowers can get 1% cash back on the mortgage amount, up to a maximum of $9,250 for a 5-year term.

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Neo Mortgage

Neo Mortgage is an online brokerage service introduced by Neo Financial. Borrowers can apply online anytime and from anywhere and close the mortgage through a completely digital process. Application and approval are straightforward and take only a few minutes. Borrowers can also speak to a mortgage advisor over a phone call to resolve any queries. Neo Mortgage’s website has currently listed five lending partners, and they currently offer the following services:

  • New Mortgage
  • Mortgage Renewal
  • Mortgage Refinance

According to Neo Mortgage, borrowers may be able to save thousands of dollars in interest by choosing to borrow through them. neo mortgage is motivated to work with borrowers with all kinds of credit scores. Thus, borrowers with less than perfect credit scores can apply with neo mortgage; however, they do not guarantee approval.

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MortgagePal is a digital brokerage that is headquartered in Vancouver. Borrowers can apply online or reach out to one of the brokers listed on the website directly. Once the application is submitted, the brokerage offers the borrowers with options of lenders to choose from. After choosing the preferred lender, the brokerage works with the lender to get the borrower approved quickly. Mortgage Pal’s website has over 30 agents listed on it, and the brokerage works with dozens of lenders, including banks, credit unions, and mortgage-only lenders. According to MortgagePal, being an online broker, they can save thousands of dollars in interest for the borrowers.

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True North Mortgage

True North Mortgage is a leading brokerage in Canada that has 12 offices across the country. The brokerage is headquartered in Calgary and has two offices in B.C. Borrowers can choose to apply online, give them a call or visit one of the offices in person. Additionally, the brokerage offers a unique mobile brokers service for borrowers living in Vancouver. Mobile brokers are brokers who meet the borrowers at a place and time of their choice. True North Mortgage claims to save an average of $3,000 for its clients.

Like other top brokerages in the country, True North Mortgage offers its clients the ‘lowest rate guarantee.’ If any of their clients find a better rate at another brokerage, True North Mortgage promises to beat or match that rate. On failing to do so, they compensate the client with $500 at the time of mortgage closing. A unique product currently offered by True North Mortgage through its in-house lender THINK Financial is ‘Rate Relief’, a short-term solution for relief from the increased interest rates. Those opting for this product can get a lower-than-market fixed rate for six months. Afterward, they can renew their mortgage with THINK Financial or pay a 1% administration fee to them. True North Mortgage offers the following services:

  • New Mortgage
  • Pre-approval
  • Refinance
  • Renewals and Transfers
  • Mortgage Porting
  • Purchase Plus Improvements
  • Newcomers to Canada
  • Vacation and Secondary Homes
  • Vacation and Secondary Homes
  • Investment Properties
  • Non-Resident Mortgage
  • HELOCs
  • International Home Purchases
  • Self-Employed Mortgages
  • Reverse Mortgages
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Citadel Mortgages

The full-service mortgage brokerage Citadel Mortgages was established in 2018. Headquartered in Toronto, the brokerage has seven offices in seven different provinces of Canada. The brokerage offers the following mortgage services::

Apart from the above, Citadel Mortgages offers an all-in-one mortgage solution combining mortgage and HELOC, allowing borrowers to pay off their mortgages faster. Their long list of lending partners includes banks, credit unions, and private lenders, helping them extend mortgage services to borrowers with good, bad, and no credit. Borrowers can get prequalified in as little as 60 seconds using their online application. Borrowers can benefit from Citadel Mortgages' incentives, such as cashback, complimentary hotel stays, and AIR MILES.

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Butler Mortgage

One of Canada's most experienced full-service brokerages, Butler Mortgage, was established in 1995. Headquartered in Toronto, the brokerage offers mortgage services across Ontario, British Columbia, and Alberta. Butler Mortgage has an expansive list of over 350 lenders, including banks, credit unions, and more. Their clients have access to various mortgage and financing options that include:

  • Purchase
  • Pre-Approval
  • Refinance
  • Renewal
  • Investment Property
  • Vacation/Second Home
  • Purchase Plus Improvement

Butler Mortgage’s ‘Up-Front Rate Guarantee’ guarantees the best rate for its clients from the beginning. Should a client find a better rate elsewhere, the brokerage is committed to beating or matching that rate. However, if they fail to do so, they compensate the client with $500 when they close the mortgage.

Another guarantee provided by the brokerage is the ‘After-Approval Rate Guarantee.’ After you are locked in at a particular rate, the brokerage keeps monitoring the market for better rates. If they find a rate 0.1% lower than the locked-in rate, and your lender doesn’t agree to match it, the brokerage allows you to switch lenders at no additional cost. Butler Mortgage also offers a ‘RateGuard Approval’ that enables clients to get a new lower rate if the rate drops during the 120-day lock-in period.

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QuestMortgage is a digital brokerage service offered by the online trading platform, Questrade. As the process is digital, borrowers can apply and get approved online. However, they can consult with mortgage advisors over the phone to resolve queries or to check for the best available rates. The rates may be locked in for 120 days.

Like other brokerages, QuestMortgage too offers prepayment privileges to its clients. Borrowers can choose to increase their monthly payments by 100% of the original amount. They can also pay off an extra lump-sum amount every year, up to 20% of the balance at the beginning of the term. Besides, borrowers can secure their mortgage with creditor’s insurance with Canada Life, for which they can apply at the time of application.

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CanWise is a Canadian lender that offers its mortgage rates only through its brokerage arm Apart from CanWise, offers mortgage rates from many other financial institutions, including banks and credit unions. The mortgage solutions currently offered by them include:

  • Mortgages for buying
  • Renewing
  • Refinance
  • Vacation/Second Home
  • Newcomers to Canada
  • Divorce
  • First-time homebuyers, and
  • Business / Self-employed buyers.

The mortgage products from the lender boast features like mortgage porting, bridge financing, annual additional lump-sum payment options, and increasing regular payment. With CanWise lending, your mortgage gets registered as a standard charge, not collateral.

Local B.C. Mortgage Brokerages

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#105 - 1385 West 8th Avenue
Vancouver, BC

The Mortgage Group is a brokerage based out of Vancouver that was established in 1990. The brokerage offers its mortgage services across Canada through its team of over 800 mortgage professionals. Borrowers can look up the broker that is closest to them through TMG’s website and contact them directly. Alternatively, borrowers can directly apply through TMG’s website, after which a broker contacts them with the best mortgage options. Borrowers can also use their free tools and calculators to estimate their mortgage payments. TMG offers a variety of mortgage solutions for experienced and new buyers alike.

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Main Office: 600-1200 West 73rd Ave.
Vancouver, BC

A boutique brokerage based out of Vancouver, Clear Trust Mortgages also has offices in Surrey and Toronto. With a team of over 100 brokers, the brokerage has been ranked as one of Canada’s top-performing firms by Mortgage Professionals of Canada. As suggested by its name, the firm keeps clarity and trust at the center of its customer service. The firm believes in providing personalized service to each client and is committed to finding the best deal. Besides mortgages from banks, it offers rates from credit unions, B-lenders, and private lenders. Like some other brokerages, it also provides mortgage prepayment privileges to its clients.

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2608 Granville Street #550,
Vancouver, BC

Green Mortgage is a Vancouver-based brokerage established in 2011. Apart from residential mortgages, they provide access to commercial mortgages. They specialize in building real estate portfolios and real estate investing. They have access to over 60 lenders. They offer mortgages for first-time buyers, refinance, renewal, investment properties, and commercial properties.

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103 - 252 Esplanade W.
North Vancouver, BC

One Stop Mortgage Corp. is a mortgage brokerage servicing British Columbia and Alberta that was established in 1994. Borrowers looking for an urgent service can get approved over a phone call instantly and have the money available within 24 hours. The full-service brokerage offers several solutions, such as a new mortgage, HELOC, debt consolidation, construction loans, and mortgage investment opportunities. As they work with different kinds of lenders, they can also provide services to borrowers with bad or no credit scores as well.

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102 - 1497 Admirals Road
Victoria, BC

The roots of Select Mortgage were established in 1998 under the name Pacific Express Mortgage Corporation. Later the name was changed to U-Select in 1999 and was finally changed to Select Mortgage Corp. in 2006. Today, the brokerage has six offices in Victoria and Lower Mainland and a team of over 50 mortgage advisors. The brokerage works with over 35 lenders, including major banks and credit unions. The brokerage offers various mortgage solutions, including private mortgages, reverse mortgages, second / vacation property mortgages, and renovation mortgages.

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Head Office: Jubilee Professional Building
1830 Oak Bay Avenue, Suite 203
Victoria, BC

Based out of Victoria, Cutting Edge is a brokerage serving all of Vancouver Island. It has been in operation since 2011 and is part of the Mortgage Alliance network. The brokerage has three offices and one affiliate office in and around Victoria; and has access to over 40 lending partners. Besides offering residential mortgages for new purchases, renewals, and refinance, the brokerage also specializes in reverse mortgages and personal loans. Borrowers can apply for a mortgage online and select their preferred broker. Alternatively, they can contact the brokerage through their website or phone number or visit one of their offices.

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Head Office: 307 Goldstream Ave
Victoria, BC

Auxilium Mortgage Corporation is a Victoria-based brokerage that has been operational since 2011. The brokerage has two offices in Victoria and collaborates with over 50 lenders, including banks, credit unions, and trust companies. The brokerage provides new mortgages, renewal, and refinance services and also specializes in bad credit and inter alia mortgages. The brokerage frequently updates the best rates on its website; however, borrowers can contact them by phone for the latest rates. Borrowers can apply for a mortgage online and complete their approval process digitally or visit the brokerage's office. Additionally, borrowers can get in touch with the brokerage through online inquiry. The brokerage offers a $250 incentive for successfully completed referrals.

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Victoria: Suite 301, 1321 Blanshard Street
Victoria, BC
Nanaimo: #2, 70 Church St. Box #127
Victoria, BC

Olympic Mortgage is a brokerage established in 2009 with two offices in Vancouver Island. The brokerage’s lending partners include banks, monoline lenders, b-lenders, and private lenders. According to the brokerage, it offers its clients ‘super low rates.’ The mortgage solutions offered by the brokerage include mortgages for newcomers, mortgages for the self-employed, commercial mortgages, and reverse mortgages. To get started, borrowers can fill out the online application form or book a 15-minute consultation through the brokerage’s website. Borrowers can also fill out the online inquiry form or call the brokerage.

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225 Dundas Street
Victoria, BC

Wise Victoria Mortgages is an independent brokerage in a landmark Vic West building. The brokerage has provided mortgage services since 2004 and has over 100 years of combined experience. They offer various mortgage services, such as construction draw financing, non-resident mortgages, tax-strategized mortgage solutions, commercial mortgages, bridge loans, and more. Individuals looking to borrow can apply online on their website or contact the brokerage through phone, e-mail, or an online inquiry form.

Mortgage Broker Networks in Canada

Canada also has several mortgage broker networks, where the brokers independently own mortgage businesses but are a part of a larger network. Some of these networks are a part of financial groups such as DLCG and M3 Financial Group.

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Dominion Lending Centres
Dominion Lending Centre in Vancouver
Floor 18-450 Marine Dr. SW,
Vancouver, BC

With over 400 offices across Canada, Dominion Lending Centres is among the country's biggest mortgage broker networks. The network has more than 3,000 mortgage experts working with over 90 lenders. The network is committed to providing its clients with top-notch service and the best mortgage rates. Network members can access numerous resources and tools, while training programs and other industry-standard updates are also available to brokers in the network. Borrowers can use the 'My Mortgage Toolbox' mobile app the network provides to start planning their mortgages.

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VERICO Mortgage Brokers Network
VERICO Mortgage Office in Vancouver:
#560 – 171 W. Esplanade
North Vancouver, BC

Established in 2005, VERICO is a mortgage broker network that operates across Canada from the east to the west coast. With over 230 mortgage businesses (consisting of more than 3500 mortgage advisors) in its network, the network helps finance homes for over 45,000 Canadian families annually. In 2022, the network was recognized as the National Broker Network of the Year at the Canadian Mortgage Awards.

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The Mortgage Centre
The Mortgage Centre Office in Vancouver:
#560 – 171 W. Esplanade
Surrey, BC

The Mortgage Centre is the longest-running broker network in Canada, established in 1989. The network has over 1800 mortgage brokers, 127 franchises, and 259 offices spanning from Atlantic Canada to British Columbia. The network gives its brokers access to marketing resources, along with access to training programs and the latest technology to help them provide excellent customer service to its clients.

British Columbia Mortgage Broker Regulations

The BC Financial Services Authority (BCFSA) licenses mortgage brokers in British Columbia, including brokers in Victoria and Vancouver. The Mortgage Brokers Act also requires private mortgage lenders who lend more than ten mortgages a year to be licensed as a mortgage broker.

How do I become a mortgage broker in British Columbia?
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Mortgage brokers in British Columbia are licensed by the BC Financial Services Authority (BCFSA). Becoming a mortgage broker is a two-step process. You will need to first become licensed as a sub-mortgage broker, and then as a mortgage broker. There are a few requirements to getting a BCFSA mortgage broker license, including:

  • Be 19 years of age or older
  • Complete UBC's Mortgage Brokerage in British Columbia Course
  • Complete UBC's Broker's Licensing Course

An application to become licensed as a sub-mortgage broker in British Columbia costs $1,500, and the mortgage broker license costs $1,900.

BC Mortgage Broker Education Requirements

The University of British Columbia's Mortgage Brokerage in British Columbia is the only course approved by the BCFSA to be registered as a mortgage broker. The course consists of a series of assignments, multiple choice and written, that need to be passed in order to register for the final exam. Students have one year to complete these assignments, with no more than 2 assignments allowed to be completed per week.

The final exam is 100 multiple choice questions, a passing mark of 65%, and a three-hour time limit. Completion of the exam will allow you to apply for a sub-mortgage broker license. To be eligible for a mortgage broker license, you will then have to complete UBC's Broker's Licensing Course.

Structured similarly to the Mortgage Brokerage in British Columbia Course, the Broker's Licensing Course consists of a series of assignments to be completed in under one year with a final examination at the end.

Education Equivalency

If you are already licensed with the Real Estate Council of British Columbia or have already taken real estate services through UBC's Sauder School of Business, you can take the Mortgage Brokerage Supplemental Course as a replacement to the full BC Mortgage Brokerage Course. You are still required to complete the full three-hour final exam.

Tuition for the Mortgage Brokerage in British Columbia Course is $1,150, while the Supplemental Course is $775. Tuition for the Broker's Licensing Course is $1,150.

You may also receive an exemption from the British Columbia Registrar of Mortgage Brokers, based on your previous education and experience. This will allow you to skip the assignment portion of the Mortgage Brokerage Course and to take the final examination directly. UBC offers a study guide for those taking the exam directly through their Challenge Package.

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