The average loan officer usually makes a 40%-90% commission with no salary or hourly rate. The difference in commissions is usually based on experience and whether or not leads and/or advertising are provided by the mortgage company.
Read more: How Much Do Loan Officers Make?The job entails originating loans, marketing the company and most importantly yourself. You'll do a ton of training and cold calling on real estate offices trying to convince the realtors why they should go with you and not one of the thousands of other loan officers asking for business.
The other parts of your day are spent cold calling former clients to refinance, checking rates, keeping in contact with current clients and monitoring the progress of current loans.
Make sure you really want to become a loan officer as it certainly is not for everyone.
Read more: How To Become A Loan Officer