When it comes to financing the purchase of a property in Quebec, the question of costs related to obtaining a mortgage is inevitable. Among these fees, the question often arises: who bears the costs of mortgage brokerage in Quebec?

Unlike some regions where the borrower is generally responsible for these fees, in Quebec, it is typically the lender who usually covers the costs associated with mortgage brokerage. Mortgage brokers provide professional services to facilitate the process of obtaining a loan by seeking the best terms from lenders. Although their expertise comes with a cost, it is the lender who takes on these fees as part of the transaction.

Usually, the commission that is assigned is calculated as a percentage, which varies from one lender to another. It generally ranges between 0.5% and 1.5% of the total loan amount. Your mortgage broker is obligated to disclose that they will receive a commission.

In conclusion, in Quebec, it is generally the lender who pays the mortgage brokerage fees. However, it is always recommended for borrowers to openly discuss these fees with their broker and lender to understand the details and ensure a transparent and fair transaction.