Mortgage broker fees and pricing
A clear explanation of how Pragmatic Mortgage Lending gets paid, when borrower-paid fees can apply, and how costs are disclosed before commitment.
On most standard prime residential mortgages in Canada, borrowers do not pay Pragmatic Mortgage Lending directly. The lender usually pays the brokerage compensation when the mortgage funds.
Some files are different. Private mortgages, alternative or B-lender files, commercial lending, and unusually complex scenarios can involve a lender fee, a broker fee, or both. When that happens, the fee should be disclosed clearly before you commit, including whether it is a flat amount or a percentage of the mortgage amount.
Most prime files
Purchase, renewal, switch, and refinance files with mainstream lender execution are usually lender-paid.
When a fee can apply
Private, alternative, commercial, or especially complex files may carry borrower-paid fees alongside other lender costs.
How we disclose it
Any borrower-paid fee should be shown up front as a flat amount or percentage, with the broader total-cost picture explained clearly.
What to review before you commit
- Whether the file is lender-paid or borrower-paid.
- Any broker fee, lender fee, or administration fee and how it is calculated.
- Appraisal, legal, discharge, assignment, or private-lender costs that affect total cost.
- Whether the mortgage solution still makes sense after you include the full fee picture.
Rate presentation
Public rate examples on this site are scenario-based examples, not guaranteed commitments. Final pricing depends on the property, documentation, occupancy, insurance status, loan-to-value, and the lender's policy at the time of approval.
Common questions
Do borrowers usually pay Pragmatic Mortgage Lending directly?
Usually no on standard prime residential mortgages. In many purchase, renewal, switch, and refinance files, the lender pays the brokerage compensation when the mortgage funds.
When can a borrower-paid fee apply?
Borrower-paid fees are more common on private, alternative, commercial, or unusually complex files where the lender does not cover the brokerage compensation.
How are borrower-paid fees disclosed?
When a fee applies, it should be disclosed before commitment as a flat amount or percentage of the mortgage amount, along with any lender fees and other material closing costs.