How we’re paid
You pay at closing, with one exception.
We are paid when your loan closes, with one exception described below. Fee terms are confirmed in a written agreement before we begin work.
Standard fees
Repeat clients and clients with multiple deals receive reduced fees.
- Loans under $1.5 million2%
- Loans of $1.5 million and over1%
- Minimum fee per deal$5,000
- Document-processing fee, collected at closing$495
Percentages are of the loan amount. The minimum applies unless we have agreed otherwise in writing. Fee terms are set in your written agreement.
When we create your financial documents
Lenders need current internal financial statements, such as a profit and loss statement and a balance sheet. An accountant normally supplies these. If yours are ready, nothing is due until closing.
If we have to create them, along with other credit documents, that is substantial extra work. We take it on only after our credit review shows your loan can be financed. In that case, half of our fee is due up front and the rest at closing. Our fee never changes. Only when you pay it does.
Examples: on a $1.5 million loan, the fee is $15,000 and $7,500 is due up front. At the $5,000 minimum, $2,500 is due up front.
If you decide not to move forward
If we created your financial documents and you decline the terms we negotiated, you are free to take the package to another lender or broker. The up-front half of our fee is not refunded. It covers our cost of preparing the package.
No further fee is due in that case. This is set out in your written agreement before we begin.
Why this structure
Our fee depends on your loan closing.
We do not charge to search for lenders. We earn our fee by getting a loan closed on terms you accept. The up-front portion exists only when we create your internal financial documents.
Want to get ahead of it? A complete set of financials means nothing is due until closing. Download the checklist and templates.