Rates and Fees

Mortgage brokerages are typically paid a commission by the lender for providing service to you the borrower. Each of our participating mortgage brokers and lenders set their own competitive rates and may charge additional fees according to their sole business practices.

Finder’s Fees

The lender providing the mortgage pays the broker a commission in the ofrm of a finder’s fee for referring and managing the application and mortgage closing.

Lender Fees

Lender fees are fees charged by banks and other financial institutions for processing and funding a loan. They can include application fees, attorney fees, recording fees, underwriting fees and more. Lender fees are items payable in connection with a loan and contribute to the total amount of the borrower's costs.

Brokerage Fees

In addition to receiving finder’s fees, it is common for brokers to charge “Brokerage fees” to non-prime borrowers. This is because the non-prime mortgage clients usually have far more complicated applications that require more time. Brokers must often discuss the application with multiple lenders in order to determine who has the best terms for the client’s unique circumstances.
Banks and lenders typically consider prime borrowers those who fit within their lending parameters; have regular, full time income; carry little or manageable debt; have a good credit history; etc.