How Mortgage Brokers Are Paid in Ontario – And How I Can Help You Save!
If you’re thinking about working with a mortgage broker, you might be wondering: How do mortgage brokers get paid?
The good news? In most cases, you don’t pay a thing! Mortgage brokers are typically compensated by the lender, meaning you get expert mortgage advice and access to great rates—without an extra cost to you. Let me break it down:
- Commission from Lenders
When I help you secure a mortgage, the lender pays my commission as a way of thanking me for bringing them your business. This means my focus is on finding you the best mortgage deal possible—because when you’re happy with your mortgage, we both win!
- No Cost to You
In most cases, you won’t pay me anything directly. My services are covered by the lender as part of their standard business expenses.
✅ What this means for you:
✔️ Expert mortgage advice, at no extra cost
✔️ Access to multiple lenders and the best available rates
✔️ A stress-free mortgage process with someone negotiating on your behalf
- Are There Any Exceptions?
There are some situations where a broker fee may apply, but I’ll always be upfront about it. You may encounter fees if:
You require a private lender or non-traditional mortgage due to unique circumstances (e.g., credit challenges, self-employment, or non-traditional income).
Your mortgage involves complex financing that requires extra work to secure approval.
Transparency is key! If a fee applies, I’ll explain everything in advance so there are no surprises.
My Goal: Helping You Save!
As a mortgage broker, my job is simple: to save you money and make your mortgage process as smooth as possible. Whether you’re a first-time homebuyer, refinancing, or investing in real estate, I’m here to find you the best mortgage options available.
Have questions? Let’s chat!
Call: 905-929-1199
Email: lamalfi@tmacc.com
Serving: Ancaster, Hamilton & All of Ontario
Let’s get you the best mortgage deal—without the stress!