Mortgage Referral Program for Individuals
Benefits:
- We don’t sell other financial products to the party you referred
- Referral Fees paid directly into your bank account
- Superior mortgage rates and flexible mortgage approvals
- Residential, Commercial and Agricultural products available from Banks, Trust Companies, Credit Unions and Private Lenders
- No charge-backs on your mortgage referral fees
- Referral partners don’t require a mortgage licence or E&O Insurance for simple introductions
- Free mortgage website with your customized information so you can share with your friends and family on Social Media
- You have a dedicated Mortgage Professional to help support your customers’ requests
- Access information and make introductions from your personal mortgage website
Compensation Structure
For each client that you refer that results in a completed mortgage transaction, you will receive a referral fee. Referral fees are calculated as a percentage of the finder’s fee received by ResCom from the applicable mortgage.
The Numbers!
Example #1:
ResCom arranges a $500,000 first mortgage and your client chooses a 5-year variable rate product. Your compensation would be calculated as follows:
- Mortgage Amount: $500,000
- Product: 5-year variable
- Finder Fee: 0.8% (80 bps)
- Gross Commission on deal: $500,000 x 0.8% (80 bps) = $4,000
- Referral Fee (15%): $4,000 x 15% = $600!
Example #2:
ResCom arranges a $500,000 first mortgage and your client chooses a 10-year fixed rate product. Your compensation would be calculated as follows:
- Mortgage Amount: $500,000
- Product: 10-year fixed term
- Finder Fee: 1% (100 bps)
- Gross Commission on deal: $500,000 x 1% (100 bps) = $5,000
- Referral Fee (15%): $5,000 x 15% = $750!
*Examples subject to change.
For any questions about the Mortgage Referral Program for Individuals, please contact ResCom Mortgage Solutions Inc.
Primary Contact: Kevin McIntyre | President & CEO
Toll-Free: 1.855.585.2080
Email: Kevin@rescommortgage.com