How to Become a Mortgage Broker in Canada

Mortgage broker commissions vary by lender and individual broker, but are generally between 0.5% and 1.2% of the borrower’s total mortgage amount. The exact percentage also depends on the term and type of mortgage. A percentage of the commission is deducted and paid to the mortgage broker before the mortgage broker receives their share. This amount depends on the commission split that a Mortgage Broker negotiates with their brokerage.