Commercial banks and AAA lenders tend to directly pay mortgage brokers. Since this isn’t the case, there are fees you should be aware of. Additionally, there are insurance fees passed on to borrowers as well. Borrowers can expect to be charged a broker’s service fee. This fee can range and as of 2021, most brokers charge about 1.3% on a 5 year fixed mortgage. Here is a useful tip; remember that you can negotiate. Your leverage is there, find it. There is usually someone in the market willing to earn your business for a slightly reduced rate, especially when you directly mention another broker you are in touch with. While no one wants to pay above and beyond, this is a standard fee. Luckily it is taken from the advance of the mortgage and not paid until a deal is closed for most deals. Canada Mortgage and Housing Corporation (CMHC) insurance fees can range from 0.60% to 4.00% with loan values from 65%-95% respectively. Here is a helpful tip; select provinces are subject to provincial sales tax.