When I get a mortgage license, will I eligible to apply for my own mortgage? I am planning to have a rental property business and by getting a certificate I am hoping to avoid the broker fees and also have a true understanding/grasp of the interest rate assigned to my mortgages I will receive on my properties/units.
It's possible with some lenders. But understand this is a perceived conflict of interest, as you may not act in the best interest of the lender. Also note that many banks clearly state that they do not permit Brokers to conduct their own personal mortgage transactions. As such, these deals will not be approved, and referral fees will not be paid.
Hi Victor, it was an informative video but i have aquestion if i want to start commercial mortgage then still i have to get Mortgage Agent Level 1 license?
Commercial lending is vastly more complex than residential lending. If you want to do commercial mortgages, you need at least a level 1 mortgage agent license. However, I would strongly recommend level 2 and also taking a commercial lending course. Check out Mortgage Professionals Canada (MPC) alternative/commercial courses.
I’m a trucker looking to switch to becoming a mortgage broker. Going to do a course here soon. Any tips? Have u heard of any blue collar types switching to something like this ?
Hi Gary, great question. I don't think it matters if you're blue or white collar. What matters most is the ability to build relationships, sales skills, and to have an entrepreneurial mindset. Feel free to reach out to me if you'd like to discuss further. My contact is in the description.
Hi Victor how are you? Question for you. I am a realtor right now in the gta do you think it’s a good idea if I take my mortgage license too? Thank you 🙏
Hi Alex, there's no straight up answer for that. It can be beneficial in circumstances where you build referral partners that complement your business. On the other hand, it may potentially hinder your ability to network with other realtors who perceive you as direct competition. It really depends on your business model and how you plan to leverage your skills and network. If you'd like to discuss this further, feel free to reach out to me.
Hi, you can enroll with the online masterclass training. If you want personalized coaching and attend weekly training sessions, please consider joining my brokerage. victorcamba.com/apply
Hey! Do you have any tips to get a job at a brokerage? I have no previous job experience in finance and no related schooling other than the mortgage course. Is there anything that could make me stand out as an applicant?
Thanks for your question! The benefit of a one time payment is you gain instant access to the entire course and case studies on day one, so you can implement the strategies straight-away. For details, visit: victorcamba.com/mortgage-agent-training-course/
Hi I understand being a mortgage agent means you are doing your own business but I want to know do mortgage agents need to register as sole proprietors or they have to register as a corporation in the province of Ontario?
Either is optional. Registering a sole proprietorship is required in Ontario if you are not using your own name as your business name. Check with the provincial government website for more details. That being said, keep in mind that, as per FSRA, a mortgage agent can only use the name registered in their license. Also, all public relations materials related to mortgage brokering must clearly and prominently display the brokerage’s authorized name and license number. Hope this helps.
@@shalinirana7567 Hi Shalini, we inquired for you, and FSRA did not provide a direct answer. The rules say "resident of Canada". They suggest you speak to immigration Canada about your definition of "residency". You can also call FSRA directly to see if you can get further clarification.
When I get a mortgage license, will I eligible to apply for my own mortgage? I am planning to have a rental property business and by getting a certificate I am hoping to avoid the broker fees and also have a true understanding/grasp of the interest rate assigned to my mortgages I will receive on my properties/units.
It's possible with some lenders. But understand this is a perceived conflict of interest, as you may not act in the best interest of the lender. Also note that many banks clearly state that they do not permit Brokers to conduct their own personal mortgage transactions. As such, these deals will not be approved, and referral fees will not be paid.
Hi Victor, it was an informative video but i have aquestion if i want to start commercial mortgage then still i have to get Mortgage Agent Level 1 license?
Commercial lending is vastly more complex than residential lending. If you want to do commercial mortgages, you need at least a level 1 mortgage agent license. However, I would strongly recommend level 2 and also taking a commercial lending course. Check out Mortgage Professionals Canada (MPC) alternative/commercial courses.
Do you think we should start career working in bank or direct with brokerage ?
I’m a trucker looking to switch to becoming a mortgage broker. Going to do a course here soon. Any tips? Have u heard of any blue collar types switching to something like this ?
Hi Gary, great question. I don't think it matters if you're blue or white collar. What matters most is the ability to build relationships, sales skills, and to have an entrepreneurial mindset. Feel free to reach out to me if you'd like to discuss further. My contact is in the description.
I need go be permanent resident for being a mortgage agent in canada or I can get mortgage agent license while i have a work permit in canada???
Hi Victor how are you? Question for you. I am a realtor right now in the gta do you think it’s a good idea if I take my mortgage license too? Thank you 🙏
Hi Alex, there's no straight up answer for that. It can be beneficial in circumstances where you build referral partners that complement your business. On the other hand, it may potentially hinder your ability to network with other realtors who perceive you as direct competition. It really depends on your business model and how you plan to leverage your skills and network. If you'd like to discuss this further, feel free to reach out to me.
@@victorcamba thank you for the reply I appreciate it.
Hi, how can I attend your training?
Hi, you can enroll with the online masterclass training. If you want personalized coaching and attend weekly training sessions, please consider joining my brokerage. victorcamba.com/apply
✅✅✅Get the BEST training. FREE PREVIEW: victorcamba.com/mortgage-agent-training-course/
Hey! Do you have any tips to get a job at a brokerage? I have no previous job experience in finance and no related schooling other than the mortgage course. Is there anything that could make me stand out as an applicant?
Hi Emily, I lead a team at my brokerage, so I would be happy to give you some tips. Email me directly: victor.camba@8twelve.mortgage
Is there a payment plan for your course?
Thanks for your question! The benefit of a one time payment is you gain instant access to the entire course and case studies on day one, so you can implement the strategies straight-away.
For details, visit: victorcamba.com/mortgage-agent-training-course/
Hi I understand being a mortgage agent means you are doing your own business but I want to know do mortgage agents need to register as sole proprietors or they have to register as a corporation in the province of Ontario?
Either is optional. Registering a sole proprietorship is required in Ontario if you are not using your own name as your business name. Check with the provincial government website for more details. That being said, keep in mind that, as per FSRA, a mortgage agent can only use the name registered in their license. Also, all public relations materials related to mortgage brokering must clearly and prominently display the brokerage’s authorized name and license number. Hope this helps.
Hi, can i become a mortgage agent as an international student in Ontario?
You must be a resident of Canada. See details here:
www.fsrao.ca/licensing/mortgage-agent-level-1/become-mortgage-agent-level-1
@@victorcamba thank you for replying.yes I am residing in Canada with a students visa, is that good enough for me to start it?
@@shalinirana7567 Hi Shalini, we inquired for you, and FSRA did not provide a direct answer. The rules say "resident of Canada". They suggest you speak to immigration Canada about your definition of "residency". You can also call FSRA directly to see if you can get further clarification.
@@victorcamba i appreciate the response. Thank you so much ❤️
A person is on open work permit eligible for Mortgage Agent or not?