A mortgage broker shops your financing across several lenders rather than tying you to one bank: securing a realistic pre-approval, assembling your file, comparing rates and terms, then explaining penalties, portability and prepayment privileges before you commit. The lowest posted rate rarely tells the whole story. Before choosing, verify an active provincial licence, access to a broad panel of lenders rather than a single source, and a candid explanation of the penalty clauses. Payotte verifies the licence and track record of the single mortgage broker it recommends in each Markham sector — no ads, no paid placement.
The Markham real estate market
As of February 2026, the median price in Markham stood at $1,042,500. The average home, all property types combined, traded near $1,039,458. Inventory sat at roughly 4.49 months of supply.
Scope: City of Markham (York Region) · TRREB · Feb 2026. — Source : TRREB
How much does a mortgage broker cost?
In most standard residential files: nothing for the borrower. The broker is paid by the lender, typically around 0.5% to 1.2% of the mortgage amount (Ratehub, citing CMHC data — 48% of Canadian borrowers used a broker in 2024).
Fees can apply for private mortgages, alternative lenders or hard-to-place credit files — they must be disclosed in writing up front. Always ask how your broker is compensated and confirm their licence with the provincial regulator before signing.