How We Get Paid
How Much Does Your Service Cost? If your mortgage is attained through a conventional bank or lending institution and doesn't require "specialty" or private financing, then the cost for our service to you is ZERO. Much like other professionals in the financial industry we're compensated by a finders fee.
How Do I Know That You Don't Have Incentives To Take Me To A Specific Lender? We're compensated by the lender through a 'finders fee'. Regardless of which bank we arrange your financing through, finders fees are standard throughout the industry. This way you can be sure that there are no conflicts of interest. We're always looking for the mortgage that will serve you best.
How Much Do You Get Paid By The Lender? Since you're openly talking about money to us, we feel it's only fair that we talk openly about money with you! Generally, we get compensated 0.80% of your mortgage amount for a fixed 5 year mortgage. If the term is less, then we earn closer to 0.65%. If the term is more than 5 years, like a 10 year term mortgage, then the compensation is closer to 1.25% of the mortgage amount.
Why Are We Sharing This With You? A successful business transaction is one where we develop a lasting professioanl relationship with you. Why? If we:
- exceed your expectations,
- provide advice in your best interest and
- develop a professional relationship built on trust
then the likelihood of you using our service again or referring us to friends and family is high. We are in business since 1977 because of the value of those who we serve.
Call us at 416.461.0204 or send us an Online Mortgage Application.