How much does a desperate, average, and righteous mortgage broker form??
lets say they work for a company and they are NOT self employed.
how much would they brand name?
bad broker:
the average broker:
and a good broker:
Answers:
It depends on how much loan business they do.
What do you penny-pinching by a "bad" broker? Someone who does only a few loans per year (low production) or someone who does a bad post (dishonest, doesn't follow-up, poor sales skills)?
Someone who does a few high-value loans might make equal as someone who makes many small-value loans; it lately has to do with total loan volume. If the broker works contained by an area of high-priced homes, s/he would probably sort more than an area of low-priced properties.
The commission earned typically ranges from 0.05% (one-half percent) to 1.5% of the loan amount. Some brokers also charge "processing" fees for respectively loan (but no matter what they call it, it is still commission income).
More loans = mo' money! :-) Source(s): 10+ years brokerage owner/investor/trainer
Nothing.
A living.
A fortune.
Related Questions:
Has anyone have a worse experience near Elite Mortgage contained by Ankeny, Iowa?
They claim they can close on a certain date/time. FAIL to do so. Then they set ANOTHER date/time and Fail AGAIN.... All of the buyers paperwork is done, as is the sellers. They offered no explanation why? We still are gaping....
how much would they brand name?
bad broker:
the average broker:
and a good broker:
Answers:
It depends on how much loan business they do.
What do you penny-pinching by a "bad" broker? Someone who does only a few loans per year (low production) or someone who does a bad post (dishonest, doesn't follow-up, poor sales skills)?
Someone who does a few high-value loans might make equal as someone who makes many small-value loans; it lately has to do with total loan volume. If the broker works contained by an area of high-priced homes, s/he would probably sort more than an area of low-priced properties.
The commission earned typically ranges from 0.05% (one-half percent) to 1.5% of the loan amount. Some brokers also charge "processing" fees for respectively loan (but no matter what they call it, it is still commission income).
More loans = mo' money! :-) Source(s): 10+ years brokerage owner/investor/trainer
Nothing.
A living.
A fortune.
Related Questions:
Has anyone have a worse experience near Elite Mortgage contained by Ankeny, Iowa?
They claim they can close on a certain date/time. FAIL to do so. Then they set ANOTHER date/time and Fail AGAIN.... All of the buyers paperwork is done, as is the sellers. They offered no explanation why? We still are gaping....