2006-10-30 12:56:29 · 3 answers · asked by kevin d 1 in Business & Finance ➔ Renting & Real Estate
I'm a loan officer for a Loan Broker and my job is to make contact with potential customers and price out different loans and programs for them.
I average between $8,000 to $15,000 a month. We are all commission only and get paid off points and rebates. It all depends on the loan amount and the program you are offering.
I have a college degree in finance and licensed by the state (not the quick 6 week program) but a accredited license. All states are different.
2006-10-30 13:24:48 · answer #1 · answered by Jen G 3 · 0⤊ 0⤋
A mortgage broker "sells" mortgages. Like any sales job, you earn a commission on the loans that you write. They prequalify people for lending and them find a program loan that best suits the situation.
I have many friends in this business that make between $100,000 and $400,000 per year, WITHOUT A COLLEGE DEGREE.
2006-10-30 13:50:42 · answer #2 · answered by NJ Lawyer 1 · 0⤊ 0⤋
You need 2 take a 6wk course & get a license & what ever the house sells 4 U get a percentage my mortage lady got $10,000.00 on a $120,000.00 deal not bad.Plus she had to give a fee to the other realtor cause it was being sold thru someone else which was another $10,000.00 not bad for a day's work but it took me a month for all the paper work,but to them omg it's great for a day's paycheck lol
2006-10-30 13:06:55 · answer #3 · answered by sugarbdp1 6 · 0⤊ 0⤋