fees+commision on construction loan

[Hadi Komeyl]

Hi all,

I am interested in the commissions involved with a construction loan for a new home in Canada or down south. Could fellow BPers advise on the following:

1. how much do brokers make on a new mortgage. Base on my research its somewhere around 0.5-1% (excluding the brokerage's fees).
2. how much do brokers make on "construction loans"? The rate for these are 8-9% /yr based on your equity to loan ratio. To clarify, a construction loan is obtained once the foundation of the house has been completed and is paid our in instalments.

I tried searching the forums and googling for a while, but no luck. I would appreciate everyone's feedback. I would greatly appreciate everyone's feedback or a link would be helpful too, although I dont think brokerages would advertise this.