How much do business loan brokers make?

Question

How much do business loan brokers make?

Freddie Mayer · Accepted Answer

Successful brokers earn over six figures a year, while being their own boss and having the ability to create a balanced professional and personal life. Best of all, to become a loan broker doesn’t require an overwhelming startup investment. You don’t need a degree in finance or 20+ years of industry experience to start.

Eleazar Franecki · Answer

A broker who charges you doesn’t do anything different from one who charges the lender. Most loan brokers earn an average commission of 1-6% of the amount of your commercial loan or working capital agreement.

Blair Brown · Answer

How much do mortgage brokers make? Mortgage brokers earn an average of $92,262 per year in the United States, but this figure can vary based on factors such as experience level and geographic location.

Timmy Bernier · Answer

Throughout the whole process, your broker can also be a resource for any questions you have about business financing. What are the costs? Typically loan brokers charge you a percentage of your total loan amount after it’s funded. This can be as high as 7% to 17% with an online lender or as low as 1% to 3% with banks or credit unions.

Diamond Stroman · Answer

Brokers have the potential to earn mid to high six figure residual income within 3-6 years as well as earn a vested ownership interest in the business (offices)…

Octavia McKenzie · Answer

While ZipRecruiter is seeing annual salaries as high as $171,500 and as low as $23,000, the majority of Commercial Loan Broker salaries currently range between $46,500 (25th percentile) to $105,000 (75th percentile) with top earners (90th percentile) making $150,000 annually across the United States.

How much do business loan brokers make?

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Video answer: My results as a business loan broker