Question:

How much money do mortgage brokers make?

Answer:

How much money mortgage brokers make depends largely on the loan size and number they originate.

Mortgage brokers make more money with larger loans. Brokers charge smaller origination points for bigger loans, but still they make more cash with bigger loans. Also, bigger loans take less time to process thus increasing brokers' profit from large size loans.

FHA loans bring in more money to mortgage brokers, but take considerably more paperwork and time to process.

The money mortgage brokers make also depend on the negotiating power of the borrowers. Those who are not good at bargaining are almost sure to end up a lot more than those who are, so you'd better get a UMB if you can't bargain and you don't want to be milked in broker's fees.

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Common misspellings: mortage and morgage