How does a mortgage broker get paid — and do I pay you anything?
In most cases, no. You don't pay me a fee for arranging your mortgage — my compensation is paid by the lender. In the rare case where a fee would apply, I tell you clearly and in advance, before you commit to anything.
Last updated 2026-09-27
Who pays me
When I arrange your mortgage, my compensation is paid by the lender, not by you. That is how most mortgages arranged through a broker work.
So in most cases, working with me costs you nothing extra on top of the mortgage itself. The usual costs of buying or refinancing a home still apply — legal fees, for example, and an appraisal if the lender asks for one — but none of those are fees to me.
When would there be a fee?
Rarely. There are a small number of situations where a fee applies. If yours is one of them, I tell you before you decide anything: what the fee is, why it applies and how much it is. You won't hear about a fee from me for the first time at the end.
If you're not sure whether your situation could be one of those, ask me on the first call. It's a fair question, and you should get a straight answer.
What to look at instead
What matters for you is the mortgage itself: the rate, the term, the payment, and what it would cost if your plans change — the penalty if you sell or refinance early, for example. When I bring you options, I lay those out side by side so you can see why I'm recommending one over another.
BC's new Mortgage Services Act, in force from October 13, 2026, also puts this in writing: when a mortgage broker presents your mortgage options, you receive a form disclosing the compensation the broker expects to receive, and afterwards a form showing what was actually received. BC Financial Services Authority: Mortgage Services Act
Common questions
Is it really free to use a mortgage broker?
In most cases, yes — you don't pay me a fee, because my compensation comes from the lender. In the few situations where a fee applies, I tell you clearly and in advance, before you decide anything.
When will I know whether my situation involves a fee?
Before you commit to anything. If a fee could apply to your situation, I say so up front — what it is, why and how much — so you can decide with the full picture.
Ten minutes tells you where you land
No credit check in the first step, and nothing to prepare first.
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