Top 6 Mortgage Brokerages in Sudbury
Instead of selling one lender's products, a mortgage broker gathers a borrower's details once and compares mortgage rates across a range of banks, credit unions, and alternative lenders. Greater Sudbury is the largest city in Northern Ontario, with an economy built on nickel mining and mining supply, along with Laurentian University and Health Sciences North. A broker's wide lender panel can help homebuyers in the region save thousands of dollars on their mortgage. Below are some notable brokerages serving Greater Sudbury borrowers, from online brokerages to firms with a Sudbury office.
Quick Picks 💡
- 1Joe Purewal MortgagesAn Ontario brokerage with more than 20 years of experience, known for placing a range of files, including bank declines, self-employed income, and credit issues, alongside standard purchases and renewals.
- 2Frank MortgageA fully online brokerage that shows borrowers the rates and products they may qualify for across its lender partners and often offers rate discounts or cash-back specials to online applicants.
Sudbury Mortgage Brokerages at a Glance
Sudbury Online Brokerages with Competitive Rates
Butler Mortgage is a well-known Canadian brokerage offering some of the lower rates, and it has been around for over 25 years. The brokerage suggests it tracks the rates offered by every major prime lender, covering over 350 lenders to find clients a competitive rate.
Butler offers a range of services, including home purchase mortgages, renewals, transfers, refinancing, construction loans, purchase plus improvement loans, second mortgages, home equity solutions, self-employed mortgages, and low-documentation mortgages. The brokerage offers several rate guarantees to its clients to assure them that they will receive the best possible rate. Though it doesn't have a physical office in Sudbury, its simple phone-based process is open to borrowers anywhere in Ontario.
Joe Purewal Mortgages is a GTA-based brokerage with more than 20 years in the business, and clients can work with the team by phone, email, or online form. A top performer under the Invis network, the brokerage is credited with arranging financing for more than 10,000 clients. Its track record of over 1,000 five-star reviews on Google makes it a trustworthy choice.
Joe Purewal Mortgages focuses on files that a bank may turn down, including bank declines, self-employed income, credit challenges, tax arrears, private financing, and debt consolidation. The brokerage also handles everyday purchases, renewals, refinances, investment properties, and pre-approvals.
Launched in 2021, Frank Mortgage is a Toronto-based online brokerage offering a fully digital mortgage process from application to closing. Their proprietary algorithm allows borrowers to see all the products and rates they may qualify for across its lender partners, rather than steering applicants toward a single lender. Frank Mortgage assigns a mortgage advisor to every borrower once they submit the application, who follows up and walks them through the options. Borrowers can use Frank Mortgage for new purchases, refinances, and renewals, and can either complete the process online on their own or book a free consultation by phone.
Sunlite Mortgage is a Scarborough-based brokerage, licensed under FSRA #13304, that serves borrowers across Ontario and has a mortgage agent based in Greater Sudbury who also covers North Bay and nearby Northern Ontario communities. Sudbury clients can meet with the agent virtually or in person, or start with the brokerage's online application. Sunlite works with more than 50 banks, credit unions, and private lenders, and it promotes a cashback mortgage offer.
Local Sudbury Mortgage Brokerages
Today's Mortgage Choice, which operates as The TMC Group, is an independent brokerage headquartered in Sudbury. It began in 2014 when five agents in different parts of Ontario joined forces to secure better rates and products for their clients. The brokerage's website now lists over 25 agents and administrative staff, with agents in Sudbury, Toronto, Durham, Peterborough, Ottawa, Thunder Bay, and Manitoulin Island. The brokerage suggests that some of its members have been in the industry for 20 to 30 years. Alongside mortgages, it arranges personal loans and home and auto insurance, and it runs specialty programs for spousal buyouts, newcomers, and self-employed borrowers.
Good Fit Mortgage Solutions is a local Sudbury team whose agents are licensed with Premiere Mortgage Centre Inc. The team has a 5-star rating on Google after more than 250 reviews, making it a reliable choice. The brokerage's lender panel spans major banks such as TD and Scotiabank, credit unions and caisses populaires, monoline lenders like First National and MCAP, and alternative and private lenders. Prospective clients can start with a live online chat without sharing any personal information, and a licensed representative follows up by phone or email if they decide to apply.
About Mortgage Brokers in Ontario
In Canada, nobody can call themselves a mortgage broker or agent without a licence from their province's regulator. In Ontario, the Financial Services Regulatory Authority of Ontario (FSRA) is responsible for licensing and supervising both brokers and agents.
Becoming a licensed mortgage agent in Ontario starts with completing an FSRA-approved education program, after which a candidate needs a licensed brokerage willing to sponsor their licence before they can practise. New agents start out at Mortgage Agent Level 1, working their way up to Level 2, and eventually a full Mortgage Broker licence.
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