Careers

Mortgage Broker?

  • Last Updated:
  • Feb 12th, 2019 11:03 pm
Tags:
[OP]
Member
Mar 7, 2008
430 posts
103 upvotes
Leask

Mortgage Broker?

Been thinking about being a part-time mortgage broker.

What’s the perks of being a mortgage broker? What kind of income does one make per mortgage deal?

What kind of course/exam do I need?

Anyone have experience doing this part-time?
5 replies
Member
Jul 19, 2010
484 posts
118 upvotes
Calgary
I think it's like being a real estate broker.. if you are outgoing, and like selling yourself, you could do well... But most don't do very well, and barely make enough to keep the lights on.
Jr. Member
Oct 24, 2011
143 posts
102 upvotes
Markham
Unless you stick to b-lenders, mortgage is very cut-throat, clients will ditch you for 0.1% difference.

Also, after all your time and hard work filling out paper works, next thing you know, your clients can walk into their home branch and the banks will price match you~ :facepalm:

If this is not a full time thing, imo there are better side hustle out there~

BUT, you can always try it for fun, you can learn a lot within the industry, and there are successful mortgage agents out there =)

Also i think reverse mortgage (in Canada) might be booming... a huge market to be in~
Deal Addict
Oct 18, 2014
1896 posts
795 upvotes
HK
It's a sales job, so how much you make depends how good you are at selling.

One should not mix part-time with sales, if income is the desired output.
Deal Addict
User avatar
Dec 16, 2015
1592 posts
1066 upvotes
Canada
Personal mortgages, It will all be done by automation soon...some are already done as such

Top