Mortgage originator working under an existing brokerage

Home buyers and people refinancing, with referrals often coming from real estate agents, friends and past clients.

You earn a share of the commission or origination fee on each closed loan, split with the brokerage under your agreement. Income is paid at closing, so it can vary a lot month to month.

• Sales and networking
• Patience with long, paperwork-heavy deals
• Good follow-up and organization
• Plain-language explaining of loan options

• NMLS licensing and any state-specific rules before you take applications
• Contract terms: commission splits, fees, whether you are an employee or contractor, and who owns your client relationships
• Compliance rules on advertising, disclosures and compensation; follow the brokerage's procedures and check with your state regulator
• Irregular income, especially in the first months and when interest rates slow buyer activity
• Handling borrowers' personal and financial data securely

Estimates put startup costs at typically around $1,000 to $4,000, depending on your licensing route and the tools you need. The brokerage holds the company license, which is one reason costs are lower than opening your own brokerage.

Check NMLS licensing and any state-specific rules before you take applications. Also check contract terms such as commission splits, fees, whether you are an employee or contractor, and who owns your client relationships. Follow the brokerage's compliance procedures.

Estimates suggest monthly revenue of typically around $2,000 to $10,000, depending on your commission split and how many loans close. Income can be irregular, especially in the first months or when interest rates slow buyer activity.