Who Pays The Mortgage Broker?
Acquiring broker commissions from lenders is one of the most common compensation methods, ideally amounting to anywhere from 1% to 3% of your total home loan amount. All professional mortgage brokers get paid either by the lender you close a loan with or the borrower. However, a few rare instances where a broker may directly charge a borrower for their services. In such cases, the fee is ideally the same but is added to your financial closing costs.