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Common Mortgage Questions

Have a question? Send us an email: info@umgatlantic.ca

How do mortgage brokers get paid?

The short, simplified, answer is we get paid by the lender, not by you, the client. When your deal closes, we get paid a commission by the lender when your mortgage funds, also known as "closes." Our payment would come from the lender's overall cost of doing business. It's all done internally by the lender so you will not see it as a separate line item you would pay at closing.

However, some brokers will charge fees for their services, and sometimes there are special circumstances — like in alternative lending — where there are additional fees. You can find the long, detailed answer on our blog all about how brokers get paid.

How many lenders do you work with?

We have access to over 80 different lenders in Atlantic Canada. As of May 12, 2026 there are 88 different lenders available to us and you. With that said, there are just over a dozen lenders our team frequently uses. They are a mix of banks, monoline lenders, credit unions, and alternative lenders.

The main reason we keep reaching for these handful of lenders is because in Atlantic Canada, not all lenders will lend here, or if they do, it’s only in the major cities. Another reason is we've built strong working relationships with these lenders and they understand our market, which helps us create a smooth experience for our clients.