AI tools have become part of everyday life for many Canadians. From planning meals, organizing travel, summarizing information, and drafting documents. But when it comes to mortgage advice, the convenience of AI should not be mistaken for credible guidance.
A recent national survey by REMIC and Abacus Data found that 26% of Canadians aged 18 to 29 used AI tools for financial or mortgage advice in the past year, vs. 17% who consulted a licensed mortgage broker or financial advisor. The same survey found that only 45% of Canadians know AI mortgage advice is not regulated.
That matters because mortgage decisions are personal, regulated, and often long term. In Ontario, mortgage agents and brokers must complete required education, pass licensing exams, and meet ongoing continuing education requirements before they can legally provide mortgage advice. AI tools do not carry those qualifications, regulatory obligations, or accountability.
Mortgage rules, lender guidelines, stress test requirements, and available products can change quickly. A licensed professional can review your income, credit profile, down payment, renewal timing, and goals, then help you understand your options based on current lender and regulatory requirements.
Ready to make informed, confident mortgage decisions?
Do not leave one of your largest financial commitments to automated tools or generic online advice. Contact me today for current, personalized mortgage guidance tailored to your financial goals.