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People also ask
Do Loan officers get paid a salary?
Some loan officers receive a salary, while others might receive salary plus commission on the loans they put into place. Occasionally, but rarely, they might only earn commission. Bonuses are common. This occupation requires some education, experience, and training.
How much does a loan officer make on $100K?
If the loan officer is paid 25 basis points (bps), they would make 25 bps on $100,000, or $250. Working with loan officers who work for a large bank has two advantages.
How much does a loan officer make at a dealership?
Loan Officer Salary. Loan officers’ salaries can depend on their employers and the scope of their responsibilities. The most highly paid loan officers work for automobile dealerships. Median Annual Salary: $63,040 ($30.31/hour)
Is there still an opportunity for a loan officer?
But there鈥檚 always an opportunity for a loan officer, even if the market is in a down cycle or a lull. Even if mortgage rates aren鈥檛 as low as they once were.