Mortgage brokerage

Are mortgage brokers free? Fee-free mortgage brokers won’t charge you an upfront fee. Instead, they’ll receive a commission from a lender. Some brokers advertise fee-free advice, but this only relates to their initial advice being free. If brokers are able to find you a mortgage, they may well charge you a fee. Read more on … Read more

Can a mortgage broker be an LLC in California? ? This license authority is required for any person engaged in the business of making or servicing residential mortgage loans within California. Any form of organization may obtain this license, whether you are a sole proprietor, LLC, partnership, corporation, or otherwise. Read more on mymortgagelicense.com The … Read more

Can you make a lot of money as a mortgage broker? Mortgage Broker Salary. Brokers commonly work on a commission basis ? earning some amount of every deal they close. Brokers commonly make between 1 and 2 percent of the mortgage as their pay ? meaning every deal made is worth thousands (if not tens … Read more

What is a mortgage brokers cut? Unlike loan officers, mortgage brokers don’t work for banks. They operate independently and must be licensed. They charge a fee for their service, which is paid by either you, the borrower, or the lender. The fee is a small percentage of the loan amount, generally between 1% and 2%. … Read more