How much do mortgage agents make?

[Deleted member 4644]

Someone claimed that they made $15,000 a month selling mortgages. Is that possible? This is in Los Angeles, but I find it hard to believe that anyone makes that much unless they are a branch office VP or something.

http://www.lrpcap.com/aboutUs.asp

Works for this company apparently as a "loan officer"

 

[ponyo]

very possible. if you're good, you can make even more. Of course only very small percentage make that.

 

[Syringer]

I've known people who makes millions a year..

 

[dquan97]

To do it consistently is hard though...in up and down markets..

 

[Aimster]

my friend makes 15-25k a month as a loan officer

his sister sells multi million dollar homes and she refers clients to him

 

[Cdubneeddeal]

My sister is a loan officer near PDX. I don't know how much she makes but she and her husband can afford a brand new Sequoia, New Accord, 300k house, four kids, spend about $1000 a month on food and other stuff at Costco, shop all the time, redo the interior of their home, you get the point. I'm going to guess they make around $150-200k a year combined. ::jealous::

 

[shortspanishguy]

I am a settlement agent and I see their commissions on the HUD. I want to kill them sometimes.

 

[SophalotJack]

Originally posted by: Aimster
my friend makes 15-25k a month as a loan officer

his sister sells multi million dollar homes and she refers clients to him

businincest ftw!

 

[QueBert]

my friend does Mortages, he pays people $500 for each person they refer. If you were modivated enough you could make good money just on that hehe. He averages 6g's per person who ends up refinances threw him. He'll have a month like 25g's, then a month with nothing. His yearly average is very high, he can easily go 3-4 months with no business and live comfortable. If you're good with people this is a wonderful business to get into. The big dogs I've seen, make 200k a year. Once you become a Loan Officer you can tripple that

 

[Finality]

I know a mortgage broker raking it in by the millions. His cars include Murchielagos and Gallardos. So yes you can really pull it in.

Think about it you earn a small percentage on a transaction do enough re-fis and new home sales and your sitting pretty. Mortgage brokers really raked it in these past 4 years but business has slowed recently.

 

[r6ashih]

Funny, i just interviewed to be a loan processing assistant.. i hope i get the job!