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How Does the Loan Commission Work?

When you take out a loan with a broker, the lender will make a payment to the broker as a sort of finders-fee. However, they won’t do this out of their own pockets but will instead be charging it to you, even if it isn’t immediately obvious. Whether that’s a slight increase interest rate based on the fact you’ve applied through a broker or a simple loan setup fee, you’ll have to pay more to cover the cost that is then passed on to the broker.

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