How are they generally paid? Salary, Commission, per loan?
213596
Check out salary.com. They have entry level midpoint at $30k or so.\n\nMortgage Loan Processor I\nObtains necessary information (i.e., loan applications, credit documents, appraisals, etc.) to process and complete mortgage loan files. Verifies all documentation for accuracy and completeness. Requires a high school diploma or its equivalent and 0-2 years of related experience. Has knowledge of commonly-used concepts, practices, and procedures within a particular field. Relies on instructions and pre-established guidelines to perform the functions of the job. Works under immediate supervision. Typically reports to a supervisor.
121510
Need more details on the mtg.: int. rates, terms, length of loan, mo. pmt?
642136
OK, sounds like a beginning.  Here's what your loan officer is going to be thinking about.  He's basically got two ratios: the inside and outside ratios.  The inside ratio is the percentage of your monthly income that goes towards your house.  That number's generally got to be under 28%.  So, if you're bringing $3,583 home a month (gross), then you can afford $1,003 per month for your mortgage payment (inside ratio).  Your outside ratio is usually around 42%, and that includes all your debt payments.  So, your student loan, credit card payments, mortgage, car payments, etc. all have to be less then $1,505 per month.  They'll use your credit report to get these numbers.  \n\nSo, that's how much they'll let you get.  \n\nNow, there are a lot of ways to finance a home.  Depending on your down payment (if any), your credit score, the quality of the home (can it pass FHA standards--no pealing paint, generally in good condition, etc.), and the type of loan you get, your actual payment may really vary quite a bit.  There are a lot of good programs today that can get the job done for people in about any situation.  Maybe the low interest rate because you're a teacher will be the best move to make.  Maybe a variable-interest rate is the way to go.  There are interest-only loans, direct investor loans, FHA loans, ARMs, etc.  Your loan officer is going to have a lot of ideas about how to get things done.\n\nI would recommend that you talk to a mortgage broker, rather than a banker first.  They'll have more options than a bank, and their motivation is to find a good fit for you.  If you are a member of a credit union, they are usually better than the banks as well.\n\nFor me, I believe that your home will generally appreciate over time, plus you get your interest paid as a tax writeoff.  It's generally a better idea to purchase a home than pay rent, even if you pay 20% more for the mortgage.  The way to make that work in your monthly budget is to check with an online service (irs.gov, turbotax.com, etc.) and find out what your taxes will be with and without your interest writeoff.  Then, make sure your witholdings match what you're actually going to have to pay.  That way you actually get enough in your paycheck to pay the extra for the mortgage, if that's the situation.\n\nFeel free to contact me via Yahoo! Answers if you have any followup questions (Email is generally better than IM).  Good luck.
487678
Im really good at this sort of thing, I do this for a living( not set budgets) but loan according to debt to income ratios. so you need to let me know what other bills you have.I would love to help, Email me.
419295
I am not a real estate professional, but have worked in the industry. The 5% is actually a standard rate, but 4% may be negotiated. You have to remember the commission is split between the 2 brokers that make the deal, so they usually get only 2.5% each.\n\nCheers.
606334
yes i think there is good money in it, i know a few salesmen who have quite a bit . im not sure what the pay is , maybe you could talk to a local salesmen, good luck
585029
15% of available income.  i am a car dealer.  take your gross income(before taxes), then take out your mortgage or rent, and other car or large loan payments, that is your available income
605924
Earning potential is what should be considered here. You can write your own check.  Here is the equation: My commision $100, times closing average, 1 out of 3.  To make $1000 a day, I need to be in "front" of 30 people asking for the order.  So commission times average = paycheck.  And it's just that simple.  Numbers do not lie. They are a constant, make them work for you.  If you are not in front of a customer your store is closed.  Savvy?  Good Luck and stay ethical, the highest "closing" tool you have.\n\nBears may want to imagine a "Grace Van Owen" suit on the other bear. Check. Your move. tee hee.
174458
I have noticed that wireless retail companies usually offer a starting pay based on your sales experience. It is also dependent on where you are geographically, so it is good you included your location. My friend is from the midwest, and the same job started out at between 7-9.00 hr plus commissions. After moving to the east coast, exact same job, it paid 16 plus commissions -I assume the difference being the cost of living. They usually do make you an offer on salary/wages before you are hired, and you have the option to negotiate or accept the offer. \n\nYou could always inquire with a current Employee on starting pay, or call a locationand speak with the manager to get the scoop. :-)
17975
depends on your income??  There are great loans that you can get for 100% financing.  That way you can keep those big bucks in your pocket for monthly payments!!  There are also 1% interest only loans.  Many financing options for working families today!!
155592
Most insurance companies do pay you commissions.  If you are looking for a base plus some commissions and you have your insurance licenses, I would talk to a property/casualty agency and see if they are looking for any sub-producers.  Here is a directory that you can use to contact some local agents in your area - http://www.insuremyhouse.com/agent.html
551473
depends on your interest rate...\n\nassuming 6%,your monthly payment would be $1708.72 if the loan began on the 1st of any given month.\n\nuse bankrates Loan Calculator at:\n\nhttp://www.bankrate.com/brm/popcalc2.asp
448898
If you pay them back with 36 monthly payments (3 years) at 8% interest you will need to give them $344.70/mo so be a good kid and get going on repaying that debt.\n\nIf you want them off your back sooner you can pay them 12 payments of $956.87/mo.
453315
A loan officer job is a commissioned position. If they don't sell and close the loan, then they don't get paid. They have to find potential borrowers through advertising, word of mouth or whatever it takes. They have to sell their loan products to their customers, find a loan program that fits their clients needs, credit and income qualifications.It is a very competitve market and they have to know the industry, their products and be very good at sales. If they are good, they can  make very good money, if they aren't good, then they starve.\n\nA  loan processor can work for a broker or a lender. A processor that works for a broker, basically does the grunt work for the loan officer. They order appraisals, titles, verifications, clear stips from the lender and works with the loan officer to get the loan closed as quickly as possible....Most brokers will have one, maybe two processors to take care of all of the loan officers. If it is a large broker shop, they might have more processors. Depending on what part of the country you live in, a processor with no certification or experience, would probably start out making from $18,000 to $21,000 a year plus a small monthly bonus. Hopefully they will have medical insurance and one, maybe two weeks vacation. In a broker shop, if business slow down or the economy gets bad, the processor is the first to be laid off, because they are the only one getting paid a salary.\n\nA processor that works for a lender is basically a Jr. Loan Underwriter. They review the loan packages that the broker shops send in. They review the appraisals, title work, credit, income and so on. Processing for a lender, is actually easier, because even though you have a lot more loans to work on, you don't have to do as much work as a busy broker processor. It is harder in the sence that you have to have more knowledge of all the different compliance laws and all the banking laws in the different states that you do loans in. You have to take updated training classes. You also have to process a certain number of loans every day to keep your job.... The lender I work for starts inexperienced processors out at around $27,000 plus bonuses, full medical, dental, vision and life insurance,free  401K, 1 month paid vacation, discounts on legal help,cell phones, computers and other little employee perks. Of course, an experienced processor makes much more. I make close to $50,000 a year, which isn't great, but for my part of the country, it isn't bad for someone without a college education.... A couple more good things about a lender, is you can advance your career, working for a broker, there is really nothing to advance to. Also, you have more job security with a lender.\n\nThese are just shortened job descriptions. There is a lot more to it, just too much to type. They are high pressure jobs and not for people who can't handle stress!!!\n\nI hope this answers some of your questions.
60751
The most important issue is revenue. They want to know where it will come from, what are similar companies generating for sales, and what should your company be able to sell. the next issue is profit margin, how much of that revenue will you have available to pay back the loan.
315429
sounds pretty good to me\n\nthe national average for a 15 year loan is currently 5.85%
54630
need more info,  what type of loan  real estate, auto or...