How Much Can You Really Make as a Loan Officer

Can you make 100k a year being a loan officer?

#foryou #fyp #loanofficer #career #howmuchyoumake #income #howmuchdotheymake #mortgage #sixfigures

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[azibebass]

The math is wrong but he’s still right 😅

[pkingmerchant]

If you’re not making 6 figures as a lo you’re doing something wrong

[nick]

You mean $4500 per deal on this % example right?

[alanbass]

I'm part owner of a mortgage and we receive 1.25% as a company and cover the processing fee. As company we get paid 75% of that. $300, 000 x 1.25% = $3, 750 minus $450 for processing = $3, 300 X 75% = $2, 475 on the deal. And that is what I get as a 50% owner. If someone is willing to pay me $6, 000 on a $300, 000 loan amount please sign me up.

[hreade]

How do you make and upload this video not realizing you did the math wrong. Hope you don't make that mistake with your clients.

[TimTomkowiak]

6k a month, you should only need one deal a month

[raniasamaan]

Hi Dario, thank you for your info, how can I get well trained after I get the license because I worked for a mortgage company but I gave up after I’ve done only one loan as I got frustrated because of lack of training and not being able to get leads .

[Leo-hokr]

How would you recommend getting into the industry now coming from another one and being able to learn?

[GauravSharma-cutx]

What about marketing costs? What about taxes ? What about operations? Please factor in these things as well.

[surething]

I just passed my nmls test, and I think it is 1% for mlo on residential loans

[Niko-]

Clearly you don't have to know math..

[therobotchicken]

He may have gotten the math wrong on the 6000 a month but you still would make $108, 000 a year with only two deals per month for 12 months 😅 I like that anyway.

[walter]

I thought I was crazy glad to see his math ain’t mathen 🤣. Overall concept seems to check out though 👀.

[aryeh]

Thats why Loan officers dont allow $150k mortgage loans to be approved at all
. smh

[JamesTCope]

No way that terrible math wasn't for the algo

[edwardrieck]

This guy needs to fix his math. 1.5% x 300k is not 6k lol, it’s 4.5k

[epauloconnor]

@askdario I don't know that I'd ask you, you can't do basic math. 1.5% of $300, 000 is $4, 500... not $6, 000. This video makes you look like a fool, might want to delete and upload one with good numbers.