We explore the factors why loan officer payment is detrimental to customers. And now we provide an alternative Better that is— Mortgage loan officers whom don’t receive money commission, ever.
Loan officers will be the primary point of contact for borrowers through the entire home loan application process at virtually every mortgage company. That’s a job that is important appropriate?
In substitution for this solution, the normal loan officer is compensated 1% regarding the loan quantity in payment. For a $500,000 loan, that’s a commission of $5,000. Numerous https://speedyloan.net/payday-loans-ak banking institutions pass this expense right through to customers by asking greater rates of interest and origination charges.