Interested in become a mortgage broker?
Looking for a career change? Consider starting a new career in the real estate sector - there's never been a better time! With a fast-growing working professional population in our province, mortgage brokers are seeing a rise in business. Mortgage brokers help buyers finance their houses or real estate property purchases and handle all associated formalities. If you have a strong intuition for contracts and finance, excel at building new relationships, have strong ethical standards, and a great worth ethic, you're a great candidate for the mortgage industry.
STEP 1: CONFIRM YOUR ELIGIBILITY
Eligibility Requirements
Individuals interested in becoming a mortgage broker must meet the following qualifications:
• Be at least 18 years of age
• Be able to lawfully study and work in Canada
• Be able to provide specific government-issued identification (ID)
• Have a minimum of Canadian high school education or equivalent
• Be proficient in the English language
STEP 2: PRE-LICENSING EDUCATION
In order to become a licensed mortgage broker in Alberta, candidates must first complete the MAP (Mortgage Associates Program). MAP consists of two courses: the Fundamentals of Mortgage Brokerage and the Practice of Mortgage Brokerage. A final exam is then required in order to complete the MAP. Candidates have one year to complete the entire MAP program.
The Fundamentals of Mortgage Brokerage is currently offered by the Real Estate Council of Alberta (RECA) and is the prerequisite to the Practice of Mortgage Brokerage. The course fee is $1250 and includes access to the online course, support from Learner Support Services, an eBook, and a practice exam. Authorized exam centres deliver the exams, and candidates are responsible for the exam fee.
The Practice of Mortgage Brokerage is offered through AMBA, and allows candidates to apply their knowledge through practice-related scenarios, and the technical competencies involved in the steps in a mortgage transition. This course is offered online, is self-paced, and includes online manuals. The course fee is $1500. A Canadian Qualifier Plus calculator is required for this course. You can purchase the calculator by contacting AMBA.
Final Exam
Once a candidate has successfully completed the Practice of Mortgage Brokerage course, they must register to write the final exam. Exam centres are located in Calgary, Edmonton, Drayton Valley, Fairview, Fort McMurray, Grand Prairie, Lethbridge, Lloydminster, Medicine Hat, Olds, Peace River, and Red Deer. An exam sitting fee is due at the time of your exam, and may vary depending on location. CLICK HERE for a complete list of exam centres and contact information.
STEP 3: CRIMINAL RECORD CHECK
In order to qualify for licensing, all candidates must provide RECA with a Certified Criminal Record Check (CCRC). To do so, you may contact a private, accredited fingerprint agency or your local law enforcement agency and request a CCRC. RECA must review and accept your CCRC before you can become licensed.
STEP 4: OBTAIN EMPLOYMENT
Once RECA approves your Certified Criminal Record Check, you must contact a licenced brokerage in Alberta and come to an agreement for them to hire you. When a brokerage hires you, you'll likely be required to complete an employment contract and then complete your licencing application. We encourage all graduates of the MAP program to seek employment with brokerages who are members of AMBA in order to have access to all member benefits. To search our broker member database, CLICK HERE.
STEP 5: COMPLETE LICENSING APPLICATION
Once you've found a brokerage to work for, your new broker-owner will begin the licensing process with RECA. As part of your licensing application, you'll be required to pay your licencing fees (in some cases this is paid for by your brokerage). You can check on the status of your licencing application via your myRECA account.
STEP 6: SETUP YOUR AMBA MEMBER PORTAL
If you've joined a brokerage that is an AMBA member, you'll have access to a private, members-only portal which provides our members with discounts on events, professional development, and continuing education. To ensure you have access, ask your broker-owner to update their broker listing in the member portal, or send our Membership Specialist an email.
Looking for a career change? Consider starting a new career in the real estate sector - there's never been a better time! With a fast-growing working professional population in our province, mortgage brokers are seeing a rise in business. Mortgage brokers help buyers finance their houses or real estate property purchases and handle all associated formalities. If you have a strong intuition for contracts and finance, excel at building new relationships, have strong ethical standards, and a great worth ethic, you're a great candidate for the mortgage industry.
STEP 1: CONFIRM YOUR ELIGIBILITY
Eligibility Requirements
Individuals interested in becoming a mortgage broker must meet the following qualifications:
• Be at least 18 years of age
• Be able to lawfully study and work in Canada
• Be able to provide specific government-issued identification (ID)
• Have a minimum of Canadian high school education or equivalent
• Be proficient in the English language
STEP 2: PRE-LICENSING EDUCATION
In order to become a licensed mortgage broker in Alberta, candidates must first complete the MAP (Mortgage Associates Program). MAP consists of two courses: the Fundamentals of Mortgage Brokerage and the Practice of Mortgage Brokerage. A final exam is then required in order to complete the MAP. Candidates have one year to complete the entire MAP program.
The Fundamentals of Mortgage Brokerage is currently offered by the Real Estate Council of Alberta (RECA) and is the prerequisite to the Practice of Mortgage Brokerage. The course fee is $1250 and includes access to the online course, support from Learner Support Services, an eBook, and a practice exam. Authorized exam centres deliver the exams, and candidates are responsible for the exam fee.
The Practice of Mortgage Brokerage is offered through AMBA, and allows candidates to apply their knowledge through practice-related scenarios, and the technical competencies involved in the steps in a mortgage transition. This course is offered online, is self-paced, and includes online manuals. The course fee is $1500. A Canadian Qualifier Plus calculator is required for this course. You can purchase the calculator by contacting AMBA.
Final Exam
Once a candidate has successfully completed the Practice of Mortgage Brokerage course, they must register to write the final exam. Exam centres are located in Calgary, Edmonton, Drayton Valley, Fairview, Fort McMurray, Grand Prairie, Lethbridge, Lloydminster, Medicine Hat, Olds, Peace River, and Red Deer. An exam sitting fee is due at the time of your exam, and may vary depending on location. CLICK HERE for a complete list of exam centres and contact information.
STEP 3: CRIMINAL RECORD CHECK
In order to qualify for licensing, all candidates must provide RECA with a Certified Criminal Record Check (CCRC). To do so, you may contact a private, accredited fingerprint agency or your local law enforcement agency and request a CCRC. RECA must review and accept your CCRC before you can become licensed.
STEP 4: OBTAIN EMPLOYMENT
Once RECA approves your Certified Criminal Record Check, you must contact a licenced brokerage in Alberta and come to an agreement for them to hire you. When a brokerage hires you, you'll likely be required to complete an employment contract and then complete your licencing application. We encourage all graduates of the MAP program to seek employment with brokerages who are members of AMBA in order to have access to all member benefits. To search our broker member database, CLICK HERE.
STEP 5: COMPLETE LICENSING APPLICATION
Once you've found a brokerage to work for, your new broker-owner will begin the licensing process with RECA. As part of your licensing application, you'll be required to pay your licencing fees (in some cases this is paid for by your brokerage). You can check on the status of your licencing application via your myRECA account.
STEP 6: SETUP YOUR AMBA MEMBER PORTAL
If you've joined a brokerage that is an AMBA member, you'll have access to a private, members-only portal which provides our members with discounts on events, professional development, and continuing education. To ensure you have access, ask your broker-owner to update their broker listing in the member portal, or send our Membership Specialist an email.
Are you ready to become a mortgage broker?
