Service Fees

The full listing of fees effective March 31, 2016 is shown below but if you have any questions, please contact the RMG Mortgages Customer Care Team at MortgageSupport@RMGmortgages.ca or at 866 809 5800.

Service Fees List
Service Description Fee
Returned Payment Fee A fee charged for any cheque or pre-authorized payment missed for any reason including non-sufficient funds, stop payment, funds not cleared and account frozen. $99.75
Holding a Payment / Delay of PAC A fee charged to a borrower requesting assistance or making alternative arrangements to meet mortgage and/or property tax obligations and RMG Mortgages establishes or changes a one-time payment change for such a purpose. $82.00
Mid Term Loan changes A fee charged to process an elective change requested by a borrower in a mortgage payment, such as payment dates or frequency (not otherwise covered by other service charges). $82.00
Discharges – All Provinces (Excluding AB, BC and MB. Not applicable in QC) Fee for preparation and execution of a discharge document to release your property as our security
for your loan.
$365.00
Discharges – AB See above. $0.00
Discharges – BC See above. $75.00
Discharges – MB See above. $100.00
Government Charge for Discharge - ON In Ontario, the government charge to register the discharge is $74.72, and accordingly we will charge it in addition to the Discharge fee. $74.72
Government Charge for Discharge - MB In Manitoba, the government charge to register the discharge is $87.00, and accordingly we will charge it in addition to the Discharge fee. $87.00
Second Request for Discharge Documents - ON Fee for a second request for preparation and execution of a discharge document to release your property as our security for your loan. $25.00
Second Request for Discharge Documents – All Provinces (excluding ON) Fee for a second request for preparation and execution of a discharge document to release your property as our security for your loan. $100.00
Assignment – All Provinces (excluding NL, NS, PE. Not applicable in QC.) Fee for preparation and execution of a transfer/assignment document if we transfer your mortgage to a third party at your request. $365.00
Assignment – NL Fee for preparation and execution of a transfer/assignment document if we transfer your mortgage to a third party at your request. $50.00
Assignment – NS, PE Fee for preparation and execution of a transfer/assignment document if we transfer your mortgage to a third party at your request. $25.00
Payment of Tax Arrears
less than $1,000
Fee for our administration of payment of your property tax arrears. $75.00
Payment of Tax Arrears greater than or equal to $1,000 Fee for our administration of payment of your property tax arrears. Greater of $150.00 or 10%
Payment of Tax Arrears less than $50 Fee for our administration of payment of your property tax arrears. $0.00
Payment of Utility arrears /school taxes if separate from tax realty municipality Fee for our administration of payment of your utility arrears/school taxes if greater than $50.00 $50.00
Tax Account
Statement breakdown
Fee charged for the administration of your tax history on your property during the duration of your mortgage. $75.00 / hour
(min. of 1 hour)
Tax Account Cancellation Fee Fee charged to close out your tax account. $75.00
Tax Municipality
Administration Fees
Payment of taxes to municipalities may incur charges from the municipality for their administration, these charges are passed back to the customer as incurred. Cost will be as incurred and vary by municipality
Covenant Change Fee for the review of credit documents to consider the release of the covenant of one or more Borrowers, whether the release is approved or not. $350.00
Qualified Assumptions If your loan qualifies for an assumption by someone else, the fee for the review of credit documents, whether the assumption is approved or not. $450.00
Non-Qualified Assumptions In a situation where you have allowed a third party to assume your mortgage without approval from RMG Mortgages. Review of any assumption will take place after the fact and is still subject to approval. $1,000.00
Partial Discharge Fee for preparation and execution of a partial discharge. You must also pay us the cost of registering that discharge. $250.00
Courier Fees Fee for the request of documents to be couriered. $15.00
Appraisal Fees
(varies by geography)
Any costs incurred by RMG Mortgages for the appraisal of your home will be passed back to the customer. $250.00 – $350.00
Legal Action:
Default Administration
Once your loan has been referred for legal action, an administration fee will be charged. $250.00
Legal Action:
Bankruptcy Administration
An administration charged for completing any required bankruptcy documents while your file is in legal action. $250.00
Legal Action:
Payment of Condo Arrears
An administration charged for RMG Mortgages paying any condo arrears while your file is in legal action. $150.00
Annual Statement Reprint A fee charged for requests of additional Annual Statements. $25.00
Information Statement A fee charged for the request of an Information Statement. $20.00
Repayment History A fee charged for the administration of a history statement of your account. $25.00
Records Research Fee Any request for documents in archive, a one hour minimum fee will be charged back to the customer. $75.00 / hour
(min. of 1 hour)
Eclipse Referral Fee Fee charged to cover the administration and appraisal costs for transferring mortgages to the Eclipse program. $250.00
Lapse in Impairment Insurance Upon failure to maintain personal homeowners insurance, RMG Mortgages will charge the customer a fee for the administration of adding to our blanket policy and an additional fee every 3 months thereafter until proper coverage is maintained. RMG Mortgages Blanket Insurance does not protect the customer for any equity in the home or contents or any other items. $250.00 each
3 months

We will charge you other fees as applicable, which may include fees in connection with the administration of the Mortgage. These fees are a reasonable estimate of the costs and expenses we will incur for actions taken or for disbursements or charges incurred by us as a result of a request by you, a failure by you to perform your Obligations under the Mortgage, or as a result of a default by you. The payment of a fee shall not be deemed to be a consent, waiver or release from any terms of your Mortgage (including any breach thereof by you) and we reserve all of our rights to enforce the original terms of your Mortgage, including any and all of our rights on your default. All of our fees are subject to change from time to time. If you have any questions about the nature and amounts of these fees please contact our Customer Service Centre. Changes in fees will be communicated to you in accordance with regulatory requirements.

Note A: We reserve the right to change our fees at any time, without notice.
Note B: Provincial taxes, if applicable, are in addition to all of the above fees.

    1. A fee can be charged in the event of poor repayment history.
    2. Excluding Alberta and Quebec, where there is no fee; in Manitoba the fee is $100 and in British Columbia, the fee is $75.
    3. The government charge to register the discharge is $74.72 in Ontario and $87 in Manitoba,  this will be charged in addition to the Discharge fee.
    4. Excluding Quebec, where there is no fee; the fee in Newfoundland is $50, and the fees in Nova Scotia and PEI are $25.
    5. For new mortgages committed on or after March 31, 2008 and for renewals offered on or after March 31, 2008.

Fees are subject to change.