Key takeaways
- →A new Level 1 licence carries three published cost items: FSRA's $941 fee (prorated), a $19.15 criminal record check, and the course fee itself.
- →Upgrading to Level 2 or mortgage broker costs no separate FSRA fee, provided the licence one level below is active — only the course fee applies.
- →The Mortgage Broker annual renewal fee is $883; reinstating a lapsed licence costs $941 (Level 1) or $983 (Level 2 or broker), both prorated.
- →The $941 headline figure isn't a flat rate — it's prorated by the month of application within FSRA's fiscal year.
Our national cost article covers what it costs to become a Level 1 mortgage agent in Ontario at the entry point. This piece goes further — the full published cost stack across Level 1, Level 2, mortgage broker, and reinstatement, using only FSRA's and the approved providers' own published figures.
Every number below is quoted as currently published. FSRA's licensing fee is prorated, so the headline figure isn't what everyone actually pays — more on that below.
01 · What does it cost to get a new Level 1 licence, in full?
Three published cost items apply to a first-time Level 1 application: FSRA's licence fee, the mandatory criminal record check, and the course itself.
| Cost item | Amount (as published) |
|---|---|
| New Mortgage Agent Level 1 licence fee (FSRA) | $941, prorated by month of application within the fiscal year |
| Criminal record check (Triton Canada, FSRA's approved vendor) | $19.15; valid for 90 days |
| Level 1 course (REMIC RMAC) | Online $358; Live Webcast $365; In-Class $445 — REMIC's own FAQ elsewhere states a $338–$385 range; figures vary by page |
| Level 1 course (MPC Ontario Mortgage Agent Course) | In-Class $429; Virtual Class $429; Online E-Text $399; Online Printed Text $429 |
The $941 FSRA fee is prorated by the month of application within FSRA's fiscal year — it isn't a flat $941 no matter when you apply.
The fees are published; the hours aren't
Every dollar in this stack buys a licence, not a book of business.
Once the fees are paid and the course is passed, the real work — and the real hours — start. Treadstone's fulfillment associates and underwriting course are built for that next stage.
02 · What do the Level 2 and mortgage broker upgrades cost?
Both upgrades are free of an FSRA fee — but only if you hold an active licence at the level below when you apply. The course itself still costs money:
| Cost item | Amount (as published) |
|---|---|
| Upgrade to Level 2 (with an active Level 1 licence) | No FSRA fee to upgrade |
| Level 2 course (REMIC Private Mortgage Course) | Online $298; Live Webcast $298 |
| Level 2 course (MPC Private Mortgages Course) | $329 Members / $399 Non-Members (all formats) |
| Upgrade to Mortgage Broker (with an active Level 2 licence) | No FSRA fee to upgrade |
| Mortgage broker course (REMIC) | Live Webcast $448; In-Class $488 |
| Mortgage broker course (MPC OMBEP, Phase I only) | $495 (Phase II priced and registered separately — not published) |
The experience requirements that sit alongside these course and fee figures are covered in full detail elsewhere in this pillar rather than repeated here.
03 · What does renewal or reinstating a lapsed licence cost?
Renewal and reinstatement carry their own published fees, distinct from a first-time application:
| Cost item | Amount (as published) |
|---|---|
| Mortgage Broker annual renewal fee | $883 |
| Reinstate Mortgage Agent Level 1 (expired under 2 years) | $941, prorated |
| Reinstate Mortgage Agent Level 2 (expired under 2 years) | $983, prorated |
| Reinstate Mortgage Broker licence (expired under 2 years) | $983, prorated |
For the full reinstatement rules — including the two-year cutoff that determines whether reinstatement is even possible — see reinstating a lapsed Ontario mortgage licence.
04 · What's a realistic all-in number for getting licensed?
Adding the published figures for a first-time Level 1 applicant choosing REMIC's online course: $358 (course) + up to $941, prorated (FSRA fee) + $19.15 (criminal record check) — roughly $1,318 before proration reduces the FSRA portion. Choosing MPC's online e-text option instead swaps in $399 for the course line. Neither total includes provincial sales tax or any brokerage-specific onboarding costs, which aren't published by FSRA or the course providers.
For agents weighing whether to handle file processing solo once licensed, Treadstone's work with Canadian mortgage professionals and the Canadian Mortgage Underwriting Course waitlist are both worth a look before the first file lands.
Frequently asked questions
This article is general information to help you scale — not a substitute for tailored advice on your specific business, licensing, or compliance obligations. All figures are illustrative examples for planning purposes; actual costs vary by province, market, and brokerage.