Do I have to Pay a Fee to Use a Mortgage Broker?

For most mortgage transactions, a fee is not charged to the client. You get to use the services and leverage the mortgage brokers education, expertise and experience for free! Since you do not pay a fee to use a mortgage broker, there is no risk to you to meet with a broker and discuss your mortgage options and see how they could benefit you.

The financial institutions pay the brokerage house a finders fee and therefore a consumer does not need to pay. In some circumstances such as private lending or commercial financing, a fee may be charged but only if agreed-upon between the broker and the borrower beforehand. However in most residential transactions, a fee is not charged from the brokerage.