🚀 go-pugleaf

Free appraisals?  An appraisal costs $187.25 including GST.  When push comes
to shove, in order to beat another mortgage broker's rate, we will also eat
the appraisal fee.  I want the general public to be aware of something which
is a bit of a trade secret within the brokerage industry:  for brokering a
mortgage deal we all get paid about 75 basis points for a 5 year term ($1125
on a $150K mortgage) and 125 basis points for a 10 year term ($1875 on a
$150K mortgage).  I know that most brokers will be upset for me revealing
that information to the public, but it is important that people are aware of
how miniscule eating an "appraisal fee" really is in the greater scheme of
things.  A broker has the option of using part of his commission to buy down
the mortgage rate, which is the reason why our rates are often lower than
those of other brokers.

Frank Manzo
Mortgage Broker
Trillium Mortgage
franco1@netcom.ca

"LK" <lev@comnet.ca> wrote in message
news:tcongmnqakfnc1@corp.supernews.com...
> Dear Sir,
We believe that we offer
> very competitive rates, unparalleled service, free appraisals, and we
share
> our knowledge of the mortgage market with our clients.
>
> Sophie
> Sales representative
>
> "THE SECOND OPINION" <secondop@attcanada.ca> wrote in message
> news:EsPx6.15662$TW.67968@tor-nn1.netcom.ca...
> > I know for a fact that those are NOT the best mortgage rates on the
market
> > ... I share an office with Trillium Mortgage, one of the largest
mortgage
> > brokers in Canada.  They offer between 5.75% and 5.95% for a 5 year
fixed
> > term.  I have personal knowledge of friends of mine that they have
gotten
> > these rates in the past week.  Unlike your company, Trillium Mortgage
buys
> > down the rates with a portion of their commission, preferring instead to
> > work in high volume and low margin.  They have been in business nearly
20
> > years.  I learned about them when I bought my first home back in 1990.
> >
> > Just call their hotline from 9 AM to 9 PM, 7 days a week, at
416-488-6142.
> >
> >
>
>
>
>