How much money do mortgage brokers make?

November 24th, 2009 | by admin |
Carson asked:


I heard that mortgage brokers drive Porches and make tons of money. By and large, how much does the average mortgage broker make?

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    1. 4 Responses to “How much money do mortgage brokers make?”

    2. By Yrent.com on Nov 26, 2009 | Reply

      The last years have been really good for us so there is sales buiness and all depends on given year the last years have been really good for us so there is boom of business they do on the amount the last years.
      The last years have been really good for us so there is boom of brokers showing off their.

    3. By pattibcacl on Nov 29, 2009 | Reply

      They have allot people come and get mortgages they must make money helping people

    4. By Richard M. Johnston, Realtor on Nov 30, 2009 | Reply

      How successful do you want to become?

    5. By actingnormal on Dec 3, 2009 | Reply

      Depends on the person. Two items that affect their income is volume (number of loans they close) and how aggressively they price their loans. With the real estate market booming and the rates being so low the last three years, loan officers stood to make quite a bit (everyone was buying and refinancing). Even inexperienced loan officers did well previously. When the market was hot, I saw good loan officers making around the $300,000 mark. But now things have slowed sales wise and rates have risen (not as many refinances). Some who made easy money previously have little to no pipeline now. Its sales - you need to build a referral base and be persistent. A good loan officer can still make over $100,000 per year. It can be a tough business (just like any competitive commission sales career).

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