Can you make very much money calling people regarding refinancing their home?

Question

A realtor/broker has asked if I would be interested calling people on the phone regarding refiancing............I would get 8% of his commission for each loan processed.

Answer 1

i think they earn many money

Answer 2

If on a particular transaction your broker made $8,000 and your cut is 8%, then it would come to $640 before taxes. Much depends on how much money do you feel is 'very much' and how many times you can repeat this process, and the actual amount of his commission.

And then 'ethics' has to be factored into this equation. What does he mean about 'each loan processed'? I presume it means each loan that actually gets 'funded', not just processed. What happens if he says later that the borrower cancelled the loan or didn't qualify. Will your involvement in the processing allow you to know the end results?

What I'm getting at is much depends on the ethics of your employer. There is room for cheating an employee and there is also opportunity for you to make an honest income from a good boss, depending on your skills as a sales person. But there are variables that you need to consider, and after doing that, go forward with whatever you're comfortable with. Your wages are very dependant on other factors though.

Answer 3

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Answer 4

People who are interested in refinancing are probably already investigating other ways to do it. I think your rate of return would be low.

And 8% of his commission? The standard commission is 1 point; and even lower if rates are high. On a $100,000 loan his commission would be $1,000. You'd receive $80. Not such a good deal.

Answer 5

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Answer 6

Hey can you mail me the number of that broker
[e-mail]
I am a telemarketer

Answer 7

no