- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
re: Is becoming a mortgage loan officer a good career to get into?
Posted on 4/24/18 at 1:41 pm to Han_solo1988
Posted on 4/24/18 at 1:41 pm to Han_solo1988
Tons of variables. If you work for certain banks where you are taking a high volume of incoming calls or if you work for a builder or as a mortgage banker with builder accounts where the builder pays closing costs to use you, you can do well. And it is relatively easy work that requires no education or degree.
If you are a broker or someone relying on real estate agents to refer you business, you better have some good agents that sell a lot of houses and steer buyers your way.
Bottom line, most struggle around 20-40k a year chasing real estate agents. The ones who have high volume builder accounts make bank as do the very few who have the top real estate agents in town sending them their buyers.
The ones in a high volume inside call center (not one where you get business through outgoing cold calls) can make 75-95k a year as well, but there are only a few lenders that have those.
If you are a broker or someone relying on real estate agents to refer you business, you better have some good agents that sell a lot of houses and steer buyers your way.
Bottom line, most struggle around 20-40k a year chasing real estate agents. The ones who have high volume builder accounts make bank as do the very few who have the top real estate agents in town sending them their buyers.
The ones in a high volume inside call center (not one where you get business through outgoing cold calls) can make 75-95k a year as well, but there are only a few lenders that have those.
0
Posted on 4/24/18 at 1:53 pm to Pecker
quote:
He's half-retarded but manages to do fairly well
So if I go full retard it should all be gravy?
Posted on 4/24/18 at 1:54 pm to Han_solo1988
I've done it. It is a straight up sales job. Do you want to be a salesman? Are you good at sales?
Posted on 4/24/18 at 1:55 pm to Powerman
If you can handle the pressure of closing closing and more closing.
That's all your boss is going to want.
If you don't close, you won't last very long.
That's all your boss is going to want.
If you don't close, you won't last very long.
Posted on 4/24/18 at 1:56 pm to Pecker
quote:
I have a friend who does this. He's half-retarded but manages to do fairly well at this job.
I hope that helps.
Posted on 4/24/18 at 1:58 pm to Han_solo1988
Might not be lucrative in BR, but I know a few here and they have been crushing it in this hot market that doesn't seem to have a cool down in sight. Plus with the average home price in the Denver metro area being just above $500k, I would imagine it's a little easier to start doing well for yourself more quickly than other markets.
This post was edited on 4/24/18 at 2:01 pm
Posted on 4/24/18 at 3:06 pm to Han_solo1988
Depends on where you are located. If you are in a small town like Baton Rouge with a curiously good real estate market, you can do very well. You have to get in with the big real estate agents. Buy them gifts, marketing etc.
Posted on 4/24/18 at 3:10 pm to Han_solo1988
My sister in law does this for a bank and makes decent enough money to have a 250k home and a nice SUV. On her income alone
Posted on 4/24/18 at 3:10 pm to Han_solo1988
Always
Be
Closing
Be
Closing
Posted on 4/24/18 at 3:20 pm to Han_solo1988
If you call pushin paper a career, then go for it. In reality, a monkey could do what most loan officers do.
Page 2 of 2
Popular
Back to top
Follow TigerDroppings for LSU Football News