Posted by robert on January 08, 2005 at 13:42:33:
you might want to rethink that. even though you wouldnt make as much, with our company, and about 2 hours of work, that is at least an extra 800 to 1600 dollars. the longest time ever for me on a loan was 5 hours total. give me a call if you want some more info 206-984-4663
How much can you make as a mtg broker? - Posted by jasonrei
Posted by jasonrei on December 04, 2004 at 17:43:38:
I’m thinking of selling some of my own rehabs, and handling the buyers’ loans. On an avg $80k loan, what kinds of fees can I expect to make? I have 4 or 5 houses come up for sale each month, but I’d only like to oversee the sale of 2 per mnth right now.
Think I can get set up in a deal like that?
Re: How much can you make as a mtg broker? - Posted by JA
Posted by JA on December 04, 2004 at 17:52:05:
you can’t be the mortgage broker on a transaction where you are a principal.
Re: How much can you make as a mtg broker? - Posted by jasonrei
Posted by jasonrei on December 04, 2004 at 18:31:07:
Oh, I see.
It shouldn’t be a problem for me to not be on title. Or I could run the loans through someone else.
Can I be a buyers’ agent AND the mortgage broker, and receive fees for both.
Re: How much can you make as a mtg broker? - Posted by tom
Posted by tom on December 05, 2004 at 10:55:10:
i know people that broker their own deals.
1-2 pts is the answer to your question.
and yes to your last question, tho you would need to have a few disclosure statements signed…
Re: - Posted by jasonrei
Posted by jasonrei on December 05, 2004 at 15:46:23:
Hmmm, that wouldn’t be too good. If I couldn’t make $2k, I don’t think I’d bother.