Mortgage Broker Profession – Is it right for you?
A Mortgage Broker or mortgage advisor is an individual who is a registered, licensed and trained mortgage specialist helping his or her clients with their home financing needs. A mortgage broker is not paid by the mortgage lender. Instead he or she receives a fee or commission as financial compensation for bringing a mortgage business to a mortgage lender.
How much a mortgage broker can earn?
This depends on how many deals you average a month. You can run some numbers and investigate realistically what you could possibly be making after your initial months or learning the business. It may take you a few months to be up to speed in your mortgage business. In the beginning, building your business involved working your own marketing plan to get new contacts and build more referral sources.
The income for a mortgage broker is lucrative or those who are successful in building their contacts. There are little over-head costs to become a mortgage broker. The biggest attraction beside the money is the freedom to work their own hours in an industry that has unlimited demand for the service.