How Do Mortgage Brokers Get Paid in Toronto?

Mortgage brokers are typically paid by the lender, meaning buyers usually don’t incur additional fees for their services.

When you work with a mortgage broker, their compensation typically comes as a commission from the lender once your mortgage closes. Here’s what buyers should know:

• No added cost to you: For standard residential mortgages, the broker is paid by the lender, not the borrower.
• Competitive incentives: Because brokers have access to multiple lenders, they’re motivated to find you the best fit—whether that’s the lowest rate or the right product.
• Exceptions: In rare cases (such as private lending or unusual financial situations), a broker may charge a direct fee. This is disclosed upfront, so there are no surprises.

For most buyers, this structure means you benefit from professional advice, broader lender access, and advocacy—without writing a cheque to your broker.

The Fox Marin Team regularly connects clients with trusted Toronto mortgage brokers who are transparent about compensation and entirely focused on securing the best financing for your needs.

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