Mortgage Broker Cost in Quebec — 2026 Guide

Verified by OACIQ — Updated on July 1, 2026

All mortgage brokerage information is verified according to OACIQ regulations. Learn more about OACIQ

One of the most frequent questions from prospective homebuyers in Quebec is: "Is a mortgage broker free?" The short answer is yes, in the vast majority of situations. Here's everything you need to know about the compensation of OACIQ-certified mortgage brokers.

The mortgage broker compensation model is based on a commission paid by the lender (bank, credit union, insurer) who obtains your file. This commission, generally between 0.5% and 1.2% of the loan amount, is paid by the financial institution — not by you. Your mortgage rate is not increased accordingly.

Key Points

Residential purchase — FREE

For 95% of residential property purchases in Quebec, the broker's service is entirely paid by the lender. You pay nothing.

Mortgage renewal — FREE

The broker who helps you shop your renewal is paid by the new lender. Free service.

Refinancing — Variable

For a simple refinancing, the service is often free. For complex refinancing with debt restructuring, fees of $500 to $1,500 may apply.

Bad credit — Possible fees

For difficult credit files or private loans, the broker may charge fees of 1% to 3% of the loan amount, disclosed in advance.

Mandatory OACIQ disclosure

Every OACIQ broker must disclose their compensation in writing before signing. If a broker doesn't, report it to the OACIQ.

Mortgage Broker Cost by Transaction Type

Category	Value
Residential purchase	$0 (free)
Renewal	$0 (free)
Simple refinancing	$0 to $500
Complex refinancing	$500 to $1,500
Private loan (bad credit)	1% to 3% of loan
Income property	0.5% to 1% of loan

Frequently Asked Questions

Can a broker charge fees without telling me?+

No. The OACIQ requires every mortgage broker to disclose their compensation in writing before signing any document. This disclosure is a legal obligation in Quebec. Non-compliance exposes the broker to OACIQ disciplinary sanctions.

Why do lenders pay brokers?+

Financial institutions view brokers as their business development agents. A broker brings a qualified client ready to sign. The lender prefers paying a commission to a broker rather than investing in advertising and staff to find that client.

Are rates higher if I go through a broker?+

No. Lenders offer the same or better rates to brokers than to their own branch clients. Some lenders even offer exclusive rates to brokers, inaccessible to the general public.

How do I verify a mortgage broker is OACIQ certified?+

Go to oaciq.com → Public Registry → Broker Search. Enter the broker's name to see their status, accreditations and any disciplinary history.