Simply how much Does a Loan Officer Make an hour or so?

Simply how much Does a Loan Officer Make an hour or so?

  • Some loan officers are compensated hourly
  • When they work on big banks that are retail
  • But some are paid commission-only
  • Which you yourself can break up into hourly wages at year-end

As noted, MLOs are usually perhaps maybe not compensated hourly, as they are rather compensated payment for the loans they generate and fund.

What this means is total payment can vary somewhat in line with the product sales performance of this loan officer under consideration. In addition relies on just how much a loan officer makes per loan.

If the LO works well with a shop that is small has hardly any help, they may make home financing point or two per loan.