Commission share and cashback offers with Mortgage

On FairBroker® you can get mortgage offers with commission share and cashback. FairBroker® platform creates competition between Mortgage Brokers and Lenders. The competition encourages Mortgage Brokers and Lenders to make attractive mortgage offers including cashback and commission share.

commission share and cashback mortgage offers

FairBroker® offers multiple price plans for borrower’s to choose from. In the ‘Free’ plan, commission share is optional and is the discretion of the mortgage broker. In all other ‘Fee for Service’ plans, the mortgage broker is obligated to pass on the commission received from the lender to the borrower in exchange for a fixed price for service.

How to identify a deal/offer with commission share?

The deal/offer with commission share will have a distinct icon in the summary view. The icon indicates that the Mortgage Broker has offered to share the commission with the borrower.

while the ‘Fee for Service’ plans mandatorily offers commission share, the ‘Free’ plan does not make it mandatory for commission share. If you have created a deal request under the ‘Free’ plan, You will be able to filter and view only the deals/offers where a commission share is offered. The borrower can do this by selecting the ‘Deals with Cashback/Commission Share’ filter option

Mortgage Brokers are paid a commission by the lender/bank when they settle mortgage with the lender/bank. If you are creating a deal request under the ‘Free’ plan, you can highlight in your deal request that you are looking for deals from mortgage brokers where the mortgage broker is willing to share the commission received from the lender/bank with you. With this indication, the mortgage broker has knowledge of what you are looking for in a good deal offer.

Please note, the commission paid to a mortgage broker is in fact paid using the interest money collected by the lender from the borrower. While most mortgage brokers claim to be working for you free, they are not. Asking your mortgage broker to share the commission received from the lender will also decrease your effective interest rate on your mortgage.

Our ‘Fee for Service’ plans adequately compensates mortgage brokers for the service they offer. Read more about our ‘Fee for Service’ plans to understand how it works.

Please read through our comprehensive help file to understand other functionalities of the FairBroker® platform. It takes less than five minutes to create a deal request on the FairBroker® platform.

It is our mission to ensure transparency and the best outcome for the borrower and hard-working mortgage broker. Looking for a mortgage or looking to refinance your existing mortgage? Create a deal request on FairBroker® and get unbiased mortgage advice and assured commission share from mortgage brokers.

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