How are mortgage brokers paid?
Mortgage brokers are paid by the lenders and not you. Essentially we are given a small percentage of the mortgage as a thank you for generating them mortgage business. This amount is the same from lender to lender so there isn’t a significant incentive to use one lender over the other.
On a standard mortgage, if your mortgage broker or banker charges you a fee, we recommend finding a new mortgage broker.
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Remember to Own Your Life and have a nice day!
Best Regards,
Jessi Johnson
