How Much Does a Mortgage Broker Cost

Joel Olson • December 2, 2021

The best things in life are free?

 

Okay, a really great question that we get a lot is that, how much do we charge as brokers?

 

How much does it cost for you to come to us, have us move around you to lenders to lenders, and present your borrowing request in front of different banks, credit unions, and other types of trust lenders, and that type of thing.

 

 Mortgage broker services are 100% free.

 

How it works is that if you go into the TD Bank or you go into your local credit union, you don't actually pay to talk to the teller, you don't have to pay to talk to the loans person, but you know some way, somehow those folks are getting paid from operational costs.

 

They're getting a wage, all that type of thing.

 

So, that operational cost goes towards us as a broker because you're not going to go inside of a branch in the vast majority of cases.

 

You're not going to need to have them do the work, so that's not an additional cost.

 

 

So when you're using us, we are charging you nothing whatsoever and the bank's paying as a separate transaction.

 

But it's not something where you're getting paid for, it's getting slid in, or it's affected your rate.

 

It is a situation where we are getting that cost that would normally go towards a bank employee.

 

Now here's where it gets really, really great.

 

When you legally go and talk to an independent financial planner or you're going inside of your bank, they are not legally obligated to work or look out for your best interests.

 

 If you go inside TD, they can't tell you to go to CIBC because they're going to be a better deal.

 

That would make them lose their job.

 

However, the opposite is true of a mortgage broker.

 

If we are always favoring one lender over another lender, that means that we are in violation of what our licensure recalls.

We have to be looking for the best possible deal for the lender.

 

This is why we will often hear us talk about the idea that even if you think or even if we're going to place you with your existing lender, your existing bank, it's worth it to come to us because we have to make sure that they are actually offering the best deal.

 

It's very common for people to get better deals to their own bank through us than it is when they go directly into the branch.

 

Anyway, I hope that helps you out to know that our services are free.

 

There are certainly some private loans we do that we charge broker or lender fees, but those are the vast majority and very, very extreme circumstances, and those cases truly we can do what no one else can do.

 

So if you have any questions, please reach out to us.

 

We have loved to answer any of your mortgage questions as well as if you could subscribe to this channel, like our post, and share with anybody you know.

 

We'd really appreciate that.

 

Thanks so much, have a great day.


 Don't forget to subscribe to our Youtube Channel here:


https://www.youtube.com/channel/UCMm4ANhnIibo6LirxLkCAGw


And if you need to discuss any strategies, you can schedule a time on my calendar here:


  https://calendly.com/joel-20/discovery-zoom-call

 

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Joel Olson
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Bank of Canada Holds Rate at 2.25% — April 29, 2026

By Joel Olson • April 29, 2026
The Bank of Canada announced today that it is holding its target for the overnight rate at 2.25%, with the Bank Rate at 2.5% and the deposit rate at 2.20%. This decision comes against a backdrop of significant global uncertainty — and for Canadian homeowners, buyers, and anyone with a mortgage coming up for renewal, here's what it means.

Your Guide to Real Estate Investment in Canada

By Joel Olson • April 28, 2026
Your Guide to Real Estate Investment in Canada Real estate has long been one of the most popular ways Canadians build wealth. Whether you’re purchasing your first rental property or expanding an existing portfolio, understanding how real estate investment works in Canada—and how it’s financed—is key to making smart decisions. This guide walks through the fundamentals you need to know before getting started. Why Canadians Invest in Real Estate Real estate offers several potential benefits as an investment: Long-term appreciation of property value Rental income that can support cash flow Leverage , allowing you to invest using borrowed funds Tangible asset with intrinsic value Portfolio diversification beyond stocks and bonds When structured properly, real estate can support both income and long-term net worth growth. Types of Real Estate Investments Investors typically focus on one or more of the following: Long-term residential rentals Short-term or vacation rentals (subject to local regulations) Multi-unit residential properties Pre-construction or assignment purchases Value-add properties that require renovations Each type comes with different financing rules, risks, and return profiles. Down Payment Requirements for Investment Properties In Canada, investment properties generally require higher down payments than owner-occupied homes. Typical minimums include: 20% down payment for most rental properties Higher down payments may be required depending on: Number of units Property type Borrower profile Lender guidelines Down payment source, income stability, and credit history all play a role in approval. How Rental Income Is Used to Qualify Lenders don’t always count 100% of rental income. Depending on the lender and mortgage product, they may: Use a rental income offset , or Include a percentage of rental income toward qualification Understanding how income is treated can significantly impact borrowing power. Financing Options for Investors Investment financing can include: Conventional mortgages Insured or insurable options (in limited scenarios) Alternative or broker-only lenders Refinancing equity from existing properties Purchase plus improvements for value-add projects Access to multiple lenders is often crucial for investors as portfolios grow. Key Costs Investors Should Plan For Beyond the purchase price, investors should budget for: Property taxes Insurance Maintenance and repairs Vacancy periods Property management fees (if applicable) Legal and closing costs A realistic cash-flow analysis is essential before buying. Risk Considerations Like any investment, real estate carries risk. Key factors to consider include: Interest rate changes Market fluctuations Tenant turnover Regulatory changes Liquidity (real estate is not easily sold quickly) A strong financing structure can help manage many of these risks. The Role of a Mortgage Professional Investment mortgages are rarely “one-size-fits-all.” Lender policies vary widely, especially as you acquire more properties. Working with an independent mortgage professional allows you to: Compare multiple lender strategies Structure financing for long-term growth Preserve flexibility as your portfolio evolves Avoid costly mistakes early on Final Thoughts Real estate investment in Canada can be a powerful wealth-building tool when approached with a clear strategy and proper financing. Whether you’re exploring your first rental property or planning your next acquisition, understanding the numbers—and the lending landscape—matters. If you’d like to discuss investment property financing, run the numbers, or explore your options, feel free to connect. A well-planned mortgage strategy can make all the difference in long-term success.