Top 8 Mortgage Brokerages in Newfoundland and Labrador
Mortgage brokers have access to mortgage rates and mortgage products from several lenders and can negotiate with them on behalf of their clients, potentially saving borrowers thousands of dollars in interest. Mortgage brokers are paid a commission by the lender, typically ranging from 0.5% to 1% of the total mortgage amount, so their services are generally free of charge to borrowers. In Newfoundland and Labrador, mortgage brokerages and brokers are regulated by the Consumer and Financial Services Division of the Department of Government Services under the Mortgage Brokerages and Brokers Act. Listed below are some of the best online and local mortgage brokers offering services in Newfoundland and Labrador.
Quick Picks 💡
- Pineapple-Shoreline Mortgages: A local NL brokerage, Pineapple-Shoreline Mortgages is based in St. John’s and offers all types of mortgage solutions. The brokerage also offers credit repair solutions, debt consolidation services and personal loans.
- The Home Mortgage Centre: A brokerage with brokers who have over 35 years of experience in the lending industry, The Home Mortgage Centre is one of the most trusted brokerages in NL.
Top Mortgage Brokers in Newfoundland and Labrador
Newfoundland and Labrador Online Brokerages with Competitive Rates
The Mortgage Group is a Vancouver-based brokerage with a network of over 1,900 mortgage professionals providing mortgage solutions across Canada. The brokerage was founded in 1990 and has grown into one of the largest brokerage firms in the country. Borrowers can look up the brokerage's website to find a TMG broker near them. They can contact the broker directly and meet with them to discuss their mortgage options or apply with them over the phone or online. The brokerage's website also supports direct online applications while also providing several tools, calculators, and resources for borrowers.
Local Newfoundland and Labrador Mortgage Brokerages
Pineapple - Shoreline Mortgages is a brokerage based out of St. John’s. The brokerage has a team of over 15 brokers serving the east coast of Canada. Borrowers can get all kinds of mortgage solutions through the brokerage, including pre-approval, investment properties and self-employed buyers. The brokerage also offers credit repair solutions, debt consolidation services and personal loans. The latest rates offered by the brokerage are available on their website. Borrowers can apply for a mortgage through the brokerage’s website. They can also contact the brokerage through phone or e-mail.
East Coast Mortgage Brokers is a brokerage based out of St. John’s and serving the entire province of Newfoundland and Labrador. With a team of over 30 mortgage professionals, it is one of the largest brokerages in the province. Borrowers can check the latest mortgage rates offered by the brokerage on their website. The brokerage offers debt management and special financing services apart from general mortgage solutions. Borrowers can apply online through the brokerage’s website or contact them through phone. The brokerage also offers a live chat service on its website that borrowers can use to get more information.
The Home Mortgage Centre is a brokerage based out of St. John’s, NL, and has offices in Clarenville and Springdale as well. The independent brokerage is a part of The Mortgage Centre broker network and has served Newfoundland and Labrador borrowers since 1993. The brokerage’s team consists of Accredited Mortgage Professionals (AMP), with some of the brokers having over 35 years of experience in the mortgage and lending industry. Borrowers can apply for a mortgage directly through the website. Borrowers can also choose to apply with the broker of their choice. To get advice about their mortgage, borrowers can contact the brokerage through phone or email. They can also contact one of the brokers directly.
APlus Mortgage Group Inc. is a brokerage based out of St. John’s, NL, that has been offering mortgage solutions and other financial services in NL for over 35 years. Apart from various mortgage solutions, the brokerage also offers services such as accounting services, insurance, and investments. APlus clients enjoy multiple benefits like a loyalty discount card for getting discounts at many businesses and discounts when using their preferred professional partners (lawyers, appraisers, home inspectors). Borrowers can check the brokerage’s website for the latest rates and can also apply online. They can contact the brokerage through phone or email for advice.
Newfound Mortgage Professionals is a brokerage based out of St. John’s, NL, serving borrowers across Newfoundland and Labrador. Founded by mortgage broker Gord Healey and operating under the national TCG Lending Centres brand, the brokerage has a team of brokers with backgrounds and specialties across the lending industry. Borrowers can get all kinds of mortgage solutions through the brokerage, including first-time buyer mortgages, mortgages for newcomers to Canada, renewals, refinances, and financing for investment properties. The brokerage works with dozens of lenders across Canada. Borrowers can book a consultation or apply for a mortgage through the brokerage’s website. They can also contact the team by phone or email.
Cal LeGrow Insurance & Financial Group is a firm based out of St. John’s, NL, that has served Atlantic Canada for over 30 years. Alongside its insurance and financial planning divisions, Cal LeGrow has a dedicated team of mortgage brokers offering solutions such as new purchases, renewals, refinances, and financing for second, rental, and vacation properties. As a broker, the firm shops multiple lenders on the borrower’s behalf to find competitive rates and terms. Borrowers can contact the mortgage team by phone or through the brokerage’s website, where they can also request a callback or start an application.
Mortgage Broker Networks in Canada
In Canada, broker networks comprise independently owned brokerages with access to the network's rates and services. Some of these networks are affiliated with larger financial groups, such as DLCG and M3 Financial Group. Listed below are some of the major networks operating in Newfoundland and Labrador.
Mortgage Architects is a national broker network headquartered in Mississauga, Ontario, with regional offices in Vancouver, Calgary, Laval, and Halifax, offering mortgage services throughout Canada. Borrowers can find the Mortgage Architects closest to them through the network’s website. Borrowers can contact the brokers to get advice or apply with them directly through the website. The network works with over 50 lenders, which include not just banks and credit unions, but also trust companies and other national and regional lenders.
About Mortgage Brokers in Newfoundland and Labrador
To practise in Newfoundland and Labrador, mortgage brokers and brokerages must be licensed by the Department of Government Services under the Mortgage Brokerages and Brokers Act. Applicants must have an address for service in the province and submit a criminal record check. The licensing fee is $200 for a mortgage broker licence and $400 for a mortgage brokerage licence. Licences remain in effect subject to annual filings and payment of an annual fee.
To become licensed, applicants must complete the Newfoundland and Labrador Mortgage Broker Course (NLMBC), the approved education program offered by Mortgage Professionals Canada, which became a licensing requirement on April 1, 2025. The online course takes approximately 40 hours to complete, and applicants must pass a final examination (online with a remote proctor or in person) with a mark of at least 60%. Those acting as a principal broker for a brokerage must also complete the Newfoundland and Labrador Mortgage Brokerage Management Course (NLMBMC).
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