Questions about mortgage costs

What does it cost to use By Referral Mortgage Consultants-BRMC?
What are the typical costs associated with getting a mortgage?

What does it cost to use By Referral Mortgage Consultants-BRMC?

There are absolutely no costs associated with the online mortgage application process. Even when your application is approved, there are still no costs. Also, at no time are you under any obligation to accept our mortgage offer.

Of course if you decide to accept our approval and follow through with the mortgage, there will be some costs associated with the mortgage itself and may include costs for items like appraisals, legal fees, surveys, etc. These costs are not specific to By Referral Mortgage Consultants-BRMC but are normal expenses associated with mortgages in Canada. Once your mortgage application has been approved, a member of the By Referral Mortgage Consultants-BRMC Mortgage Team will be in contact with you to go over these costs in detail.

In some cases, when secondary lenders are required to facilitate your mortgage requirements which may be the result of credit concerns, brokerage fees may apply. However, you will be made fully aware of any fees prior to your commitment.

What are the typical costs associated with getting a mortgage in Canada?

In general terms, the following are typical costs which you will incur when obtaining a mortgage. Again, these costs are not specific to By Referral Mortgage Consultants-BRMC but are normal expenses associated with mortgages in Canada and may depend on your location. A member of the By Referral Mortgage Consultants-BRMC Mortgage Team will discuss these costs in detail once your mortgage is approved. The following are given as a guide only.

- Legal Fees	$850 - $1,000
- Appraisal	$200 - $300
* Title Insurance	$200

*Title Insurance is required on most mortgages with loan to value ratios over 65%. A survey certificate can be substituted.

Depending on your Province, you may be subject to a property purchase tax when purchasing a new home. Again, a By Referral Mortgage Consultants-BRMC Mortgage Specialist will be in contact with you to discuss these costs.