Mortgage Brokers - Commission / Structuring Fee

[Ahsan Usmani]

Hi - I plan on doing my first apartment deal in DFW area this year and I am currently researching various banks and mortgage broker for Commercial loans. I have contacted couple of Mortgage Brokers and they told me that they charge a structuring fee of 2.5 - 2.7% of the financed amount (payable at closing). I want to know

- How much typically Mortgage Brokers charge? Is it common for them to charge a commission / fee of 2.5 to 2.7% of the financed amount?

- Is there any downside of using a Mortgage Broker for getting a Commercial Loan (besides paying them commission / fee)?