It depends on what kind of company you go with. Generally mortgage brokers get paid off only commission, but you can find ones that pay a draw salary. That's basically a safety net in case you don't make any commission. It's usually not very much money, and you wont get paid the draw if you commision. The other side to that is, if you do get some loans closed at a broker's office, you'll end up making anywhere from like 3,000 - I don't even want to say because it's a fucking ridiculous amount of money.
The other option is to work for a direct lender. You wont make nearly the money you'd make at a broker, but with most companies you'll have a constant salary. I for instance, get 2,150 a month (gross) whether I commission or not. I also have full medical, dental, etc. That doesn't mean the potential to make a lot of money isn't there, but you'll have to close a lot more loans to get it. It's a good way to get started in the business without having the sink or swim aspect to worry about. The nice part is that when you do commission, the salary all of the sudden is chump change in comparison and is just icing on the cake.
|