What does a Mortgage Agent Level 1 licence allow?

Under Ontario regulation 409/07 a Level 1 agent may arrange mortgages only with lenders that are financial institutions or lenders approved under the National Housing Act (Canada). FSRA gives the same reading in its guidance. The limit is set by the type of lender.

Can Kandice arrange a private mortgage?

No. FSRA says a Level 1 agent cannot do suitability work for private lenders and that only a Level 2 agent or broker is accountable to the client on those deals. For a private lender you would need a Level 2 agent or broker.

How much down payment does a home purchase need?

Canada sets a minimum of 5% on the first $500,000 of the price and 10% on the part between $500,000 and $1.5 million. At $1.5 million or more the minimum is 20% of the price. Below 20% down the mortgage usually needs mortgage loan insurance.

How long can a mortgage run?

For an insured mortgage the maximum amortization is 30 years for first-time buyers and for buyers of a new build, and 25 years for other buyers, as the Department of Finance and the Financial Consumer Agency of Canada describe it. With 20% or more down the lender sets the maximum.

What is the qualifying rate for an uninsured mortgage?

The Office of the Superintendent of Financial Institutions sets the minimum qualifying rate for uninsured mortgages at the greater of your contract rate plus 2% or 5.25%. A lender uses it to test whether you could carry the payment at a higher rate.

Do I have to use BRX Mortgage if I buy or sell with Kandice or Kirby?

No. You can arrange a mortgage with any lender or licensed mortgage professional you choose. Using BRX Mortgage is not a condition of working with Kandice or Kirby on a purchase or a sale.

Mortgages

Mortgages in Muskoka with Kandice Moore

Kandice Moore is a Mortgage Agent Level 1 with BRX Mortgage Inc. operating as BRX Mortgage. This page explains what that licence allows and the mortgage rules that matter when you buy in Muskoka.

Mortgage licence details

Kandice Moore, Mortgage Agent Level 1, licence M26000347

BRX Mortgage Inc. operating as BRX Mortgage, FSRA brokerage licence 13463

Both licences were checked on FSRA’s public registry on October 29, 2026. Check them yourself on the FSRA registry (opens in a new tab).

Kandice Moore, Mortgage Agent Level 1

Call 705-706-1841 or write to [email protected].

Kandice is also a Salesperson with eXp Realty of Canada Inc., Brokerage. Mortgage services come from BRX Mortgage and real estate services come from eXp Realty. They are separate.

What Kandice can help with

Kandice can talk through a mortgage for a purchase or a refinance of a home or a cottage. She can also talk through a mortgage on a commercial property. She arranges mortgages only with the lenders her licence allows. Ontario’s regulation limits a Level 1 agent to financial institutions and to lenders approved under the National Housing Act. A deal with a private lender is outside a Level 1 licence.

This page does not quote rates, payments or approvals. A lender sets those after it has seen your application. If you want business financing that is not secured by property, ask Kandice what BRX Mortgage can arrange. A mortgage licence covers loans secured by property and she will tell you plainly what falls outside it.

The numbers that shape a Muskoka purchase

Down payment. The minimum is 5% of the first $500,000 of the price and 10% of the part between $500,000 and $1.5 million. From $1.5 million up it is 20% of the price. With less than 20% down a mortgage usually needs mortgage loan insurance, which CMHC prices as a percentage of the loan.

Amortization. An insured mortgage can run up to 30 years for first-time buyers and for buyers of a new build. It can run up to 25 years for other buyers. With 20% or more down the lender sets the limit.

The qualifying rate. For an uninsured mortgage, OSFI sets the minimum qualifying rate at the greater of the contract rate plus 2% or 5.25%. Your income has to carry the payment at that rate.

Closing costs. The Financial Consumer Agency of Canada names home inspection, legal fees, property tax adjustments and title insurance. It suggests budgeting 1.5% to 4% of the price. Ontario land transfer tax comes on top. See the land transfer tax calculator and the mortgage calculator.

If you are a first-time buyer

Four programs can lower what you need up front. The First Home Savings Account lets you save toward a first home with a deduction. The Home Buyers’ Plan lets you withdraw up to $60,000 from an RRSP and repay it over 15 years. Ontario refunds up to $4,000 of land transfer tax to eligible first-time buyers. The District of Muskoka runs a Gateway Homeownership Program with a down payment loan, but its page says the 2026 funding is fully allocated and new eligible applicants go on a wait list. The first-time home buyer guide sets out the rules and sources for each.

Commercial mortgages

A commercial mortgage is a loan secured by commercial property. A Level 1 licence is limited by the type of lender and not by the type of property, so Kandice can discuss a commercial mortgage with a lender her licence allows. Each lender sets its own terms, so ask what applies to your property and your business.

How Kandice is paid and what you can ask

Kandice acts as a real estate salesperson and as a mortgage agent. Ontario’s regulation allows a mortgage agent to take pay for mortgage work only from the brokerage she acts for, which here is BRX Mortgage. Ontario’s rules also call for written disclosure of any conflict of interest and of any financial benefit. Ask Kandice how she is paid for each role and ask for that disclosure in writing before you decide anything.

You are free to arrange your mortgage with any lender or licensed mortgage professional. You do not have to use BRX Mortgage to buy or sell with Kandice or Kirby.

Ask Kandice about a mortgage

Your message goes to Kandice Moore alone. Please do not include account numbers, your social insurance number or other financial identifiers in this form.

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What should Kandice or Kirby know?

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Nothing here is legal, tax, mortgage or investment advice.

Sources

Ontario, O. Reg. 409/07 (mortgage brokerages, agents and brokers: licensing), checked October 29, 2026
FSRA, New mortgage agent and broker licensing requirements (guidance MB0047INT), checked October 29, 2026
FSRA, Mortgage industry public relations and advertising requirements, checked October 29, 2026
FSRA public registry of licensees, checked October 29, 2026
Financial Consumer Agency of Canada, Down payment, checked October 29, 2026
Financial Consumer Agency of Canada, Choose a mortgage, checked October 29, 2026
CMHC, Mortgage loan insurance for homeownership, checked October 29, 2026
OSFI, Minimum qualifying rate for uninsured mortgages, checked October 29, 2026
Canada Revenue Agency, First Home Savings Account, checked October 29, 2026
Canada Revenue Agency, Home Buyers’ Plan, checked October 29, 2026
Ontario, Land transfer tax refunds for first-time homebuyers, checked October 29, 2026
District Municipality of Muskoka, Gateway Homeownership Program, checked October 29, 2026

General information only, not mortgage, legal, tax or investment advice. Rates and terms come from lenders and change. Kandice Moore, Mortgage Agent Level 1, licence M26000347. BRX Mortgage Inc. operating as BRX Mortgage, licence 13463.