Job Title: home mortgage consultant
Location: Stockton, CA
Submitted on: 14-Oct-03
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Job Title |
Salary
Survey |
| home mortgage consultant |
My salary package included 3 months of guaranteed commission at $2500
per month. I also had the ability to earn commissions greater than that
amount for the 1st 3 months. After the first 3 months I became a
completely commissioned employee. Our payscale ranges from .35% to .65%
commission on each loan. The commission is based on the loan amount.
The rate of commission depends on our volume and the percentage of our
volume that consists of purchase loans. These are viewed as more
valuable than refinances. The potential is there for people in this
position to make over $200,000 per year. I would say someone new to the
business could make about $50,000 in their first year if they were
willing to work hard. Someone well connected in their community
certainly would have the ability to make over $100,000 in their first
year.
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