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Updated about 3 years ago on . Most recent reply

User Stats

520
Posts
527
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Chris Baxter
  • Rental Property Investor
  • Port Coquitlam, BC
527
Votes |
520
Posts

Commercial Mortgage Broker Fee Structure (Canada)

Chris Baxter
  • Rental Property Investor
  • Port Coquitlam, BC
Posted
I am refinancing a 22 unit MF property as our original assumed mortgage is up for renewal.  The local broker's contract stipulates a commission fee to be paid by the borrower (me) not by the lender, and claims that the lenders do not pay commission on commercial mortgages.  Is this common practice (Canadian context only, please)? My existing commercial mortgages are all either assumed or negotiated directly with the lender, and this is my first time running into this fee structure.

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