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Mortgage brokers are paid upfront and trail commission based on mortgage broker commission rates. Will you ever have to pay when getting a home loan? The cut is pretty much an administration cost and service fee for the services they provide such as distributing commissions, software, systems.
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Breaking a closed mortgage can be costly: Roseman – That was what he saw on the first page of his mortgage agreement. Only on the third page – in fine print – did he find out that he had received a rate discount of 1.55 per cent. “Pretty sneaky..
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