How many closings should a loan officer do a month?
There’s a ton of things to learn and master to become a top loan officer. Even if you are doing 30 closings a month, that isn’t going to last unless you are constantly learning and improving. Things move so fast.
What qualifies a top producing loan officer?
What Qualifies A Top Producing Loan Officer? Those who are closing 30-100 loans each month. They can be easily making $25k to $250k each month. Check out some of the stats of top ranking mortgage originators here and it might completely blow your mind as to what is possible.
How much do loan officers make on average per loan?
If the typical loan is, say, $200,000, the loan officer would earn $3,000 per loan. To generate over $8,000 per month, they’d have to fund 3 of those loans each month. Where do loan officers make the most money? Not surprisingly, loan officers make the most on the East Coast.
How many loans does a mortgage officer originate in a year?
How many loans does a mortgage officer originate a year? There are a few different business models. For fully self employed mortgage brokers and loan officers who get full commission, the 80/20 sales rule applies. 80% of them, aka the average loan officer does about 1 loan month but the 20% serious sales pro does 3+ per month.