Top 8 Mortgage Brokerages in Kingston
Mortgage brokers work on behalf of borrowers to scout for the best available mortgage rates and deals in the market. As they have access to many lenders, they can negotiate the best deal for their clients. These brokers are paid a commission by lenders, and the borrowers are not required to pay anything. Kingston, a historic city on the eastern end of Lake Ontario at the mouth of the St. Lawrence River, is home to Queen's University, the Royal Military College, and a growing base of government and healthcare employers. Although home prices in Kingston are lower than in the GTA, even a small rate difference can save borrowers thousands of dollars over the mortgage term. Therefore, working with an experienced local broker can make a meaningful difference. Listed below are some of the top brokerages that serve Kingston.
Kingston Mortgage Brokerages at a Glance
Kingston Online Brokerages with Competitive Rates
Butler Mortgage is a Toronto-headquartered mortgage brokerage that has operated for more than 25 years and serves borrowers across Ontario, including Kingston. According to the company, it monitors rates from prime lenders across the market and provides access to mortgage options from more than 350 lenders.
Its Ontario offices and service areas include Toronto, Hamilton, and Ottawa. Kingston borrowers can complete the mortgage process remotely by phone, without needing to visit an office. Butler Mortgage also offers an Up-Front Rate Guarantee. If a borrower finds a lower eligible rate, the brokerage states that it will beat the rate or provide $500 at closing. Types of financing offered include:
- Home purchase mortgages
- Renewals and transfers
- Refinancing
- Construction and Purchase Plus Improvements
- Second mortgages and home equity solutions
- Self-employed mortgages and low-documentation mortgages
Joe Purewal Mortgages is an award-winning mortgage brokerage with more than two decades of experience, serving clients throughout Ontario, including Kingston, Mississauga, and Toronto. Operating under Invis, the brokerage has been a top performer for many consecutive years and has helped over 10,000 clients secure financing, backed by hundreds of five-star reviews and multiple Readers' Choice awards.
The team is known for solving difficult mortgage challenges, specializing in bank declines, self-employed income, credit challenges, second mortgages, private financing, tax arrears, and debt consolidation. The team also assists with standard purchases, renewals, refinancing, investment properties, and pre-approvals. Borrowers can reach the team by phone, email, or through an online inquiry.
Based in Toronto, Ontario, Frank Mortgage is a digital mortgage brokerage that provides mortgage solutions across Canada (excluding Quebec), including in Kingston. Founded in 2019, the company aims to simplify the mortgage process by combining technology with licensed mortgage advisors. Frank Mortgage helps borrowers access a range of mortgage options from multiple lenders, including first-time homebuyer mortgages, refinancing, and investment property financing. The brokerage focuses on offering competitive rates and a streamlined online experience that allows borrowers to compare options and complete the application process digitally. Customers can also connect with mortgage advisors through phone or email for guidance throughout the process.
Local Kingston Mortgage Brokerages
The Mortgage Professionals is a locally owned and operated brokerage headquartered in Kingston, and describes itself as the largest mortgage brokerage in Eastern Ontario. The brokerage was founded in 1989 and reports processing over $300M in mortgage volume annually. It serves Kingston, Napanee, Gananoque, and the surrounding Leeds and Grenville area. It offers purchases, renewals, refinancing, and resources such as a mortgage penalty calculator and a first-time buyer's guide. Borrowers can check the latest rates on their website. To apply, they can visit the Kingston office, call, or book online.
The Mortgage Advisors Kingston is a small team of long-time Kingston-area residents offering full-service residential mortgage advice. The team handles first-time purchases, refinancing, renewals, portability, home equity and renovation financing, debt consolidation, credit repair, and mortgages for newcomers to Canada and the self-employed. Clients can also connect with their partner real estate agents, legal professionals, home staging services and accounting professionals. Borrowers can apply online or contact an agent directly by phone or email.
Kingston Mortgage Solutions is an independently owned and operated brokerage, with a team of over 15 brokers and agents serving Kingston and the surrounding area. The brokerage was established in 2012 and has been named a ThreeBestRated "Best Business" and a CMP Magazine "Top 20 Small Market Brokers." The brokerage is a part of the Mortgage Alliance network, and its agents handle purchases, renewals, refinancing, rental and investment properties, and construction financing. Borrowers can reach the team by phone, email, or online inquiry.
Mortgage Broker Networks in Canada
Several mortgage broker networks in Canada are made up of independently operating brokerages that share access to the rates, resources, and tools the network provides. By joining a network, brokerages can access rates from many lenders without partnering with each one individually, and can receive support with technology, marketing, and training. Several brokerages serving Kingston operate under these national networks. Below are two of the largest, each represented by a member firm that serves the Kingston area.
Mortgage Architects is a national mortgage brokerage network founded in 2006 and part of the DLC Group, with more than 1,500 mortgage brokers across Canada and partnerships with over 50 lenders. Its brokers can draw on marketing, technology, and training support from a Mississauga head office, with regional offices in Vancouver and Calgary.
Dominion Lending Centres ranks among Canada's biggest brokerage networks, with more than 2,900 mortgage professionals working out of over 350 offices nationwide. It partners with upwards of 90 lenders, and its brokers can draw on a wide range of tools and resources supplied by the network. To keep them current with industry standards, DLC also runs regular training sessions, and it offers its own mobile app, 'My Mortgage Toolbox.'
About Mortgage Brokers in Ontario
Mortgage brokering is a licensed profession in Canada, and any individual who wants to practise as a broker or agent must obtain a licence from the regulator in their province. In Ontario, mortgage brokers and agents are licensed and regulated by the Financial Services Regulatory Authority of Ontario (FSRA).
How to become a mortgage broker in Ontario?
To become a licensed mortgage agent in Ontario, individuals must first complete an approved Mortgage Agent education program and then apply through a licensed brokerage that will sponsor their licence. Key requirements include:
- Be at least 18 years of age
- Be a resident of Canada
- Complete an FSRA-approved mortgage agent education course and pass the exam
- Be authorized (sponsored) by a licensed mortgage brokerage
Agents start with a Mortgage Agent Level 1 licence and may later advance to Level 2 and then a Mortgage Broker licence through experience and additional education. Brokerages must pay annual regulatory fees, maintain errors and omissions insurance, and comply with FSRA standards.
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