Benefits of Becoming A High-Income Loan Broker
To become a loan broker, you will need the tools of the trade.
A loan broker can earn up to $70,000 part-time or $175,000
or more full-time, potential. So let’s get started in this exciting
high-income business by outlining the facts and benefits of becoming a high-income loan broker.
What is a loan broker?
A loan broker is an intermediary agent between a borrower
and a lender, passing on information from the borrower to the lender. Most people are not familiar with the finance industry and only know their local bank. If they can’t make a deal with their local bank they don’t know where to go, so they contact
a loan broker who can introduce the borrower to many other qualified lenders who are more flexible than banks and offer competitive rates. You also need to know lenders who deal
in more difficult proposals as well.
To become a loan broker, you need to “Work Smart” Not Hard!
As a loan broker, you need to know how to have people
contact you with their financial needs, which lenders to contact based on the type of loan your client is looking
for, and what information the lender needs to approve
As a loan broker, the business advantages are:
No experience required
No selling involved
No employees or office rent
No inventory or special equipment
Can be worked from home or office
Ideal for men or women
Can be operated part-time, at your own pace
A modern day entrepreneur shouldn’t be required
to carry a stock of materials, handle an inventory
of products, or be burdened with their sales and
delivery. Your time is much more valuable and
should be spent building your business income.
Most businesses in which a person can earn
serious money does not have all these advantages.
That’s why you should pay careful attention to
this exceptional business and realize how profitable
it can be for you.
A professional “Financial Business Agent” negotiates
with the most sought-after product in the world…MONEY.
A professional “Financial Business Agent” knows where
the lenders or investors are and what type of loans or investments they prefer. Then they match the borrower
with the right lender or investor. When a proposal is
accepted, your potential fee for each loan could be
$2,000, $5,000, $10,000, $20,000 dollars or more
depending on the size of the loan.
What Type of Loans Does A Loan Broker Handle?
A loan broker handles loans for almost any useful
purpose such as venture projects, factoring, accounts
receivable, boat and equipment loans or leases,
mortgages, income properties, business loans of all
kinds, working capital, commercial projects, debt consolidation, and auto, truck, boat and equipment
loans or leases.
How Does A Loan Broker Get Paid?
When a loan proposal is accepted by the lender,
fees are paid to the loan broker by the borrower
or the lender by written agreement.
Does A Person Need Experience to Become A Loan Broker?
Experience is not required to become a loan broker.
In-home training is available. The best part of this
business is its low overhead – if a person does not
have an outside office he or she can work from home –
there is no inventory and the person is free to do
business anywhere in Canada, the U.S.A., or
Copyright © 2003-2005 Triple-AAA Financial Service and Investment Agencies.
All Rights Reserved.
Where Can I Find An In-Home Training Program To Become A Loan Broker And Earn A High Six-Figure Income?
For almost 30 years, Brooks B. Benjamin, President of Consumers United and Triple-AAA, has been offering expertise in the loan brokering business. Mr. Benjamin is offering a self-employment business program for persons who would like to be in the high-income financial service business as a loan broker.
If you are looking to purchase a new piece of equipment for your business or acquiring a commercial building, using a commercial loan broker for your financing can save you both time and money.
By simply going into your local bank, you are limited to the types of loans they are comfortable doing. You are also going to get the interest rate that they want to give you. Often times, they will end up turning down your loan request after weeks or even months pass by.
A Commercial loan broker has experience and will be able to quickly place your loan request in the right hands. The benfits of using a broker are:
1.Save time by getting your loan request with the lenders that will do your type of loan rather than finding out later that your loan request doesn’t fit with what the lender is comfortable with
2.Save money by having multiple lenders competing to get your business.
3.Reduce headaches by having a commercial loan broker who is working for you. It is in their interest to get the loan done in a timely manner because they don’t get paid unless the loan gets done.
Some might say that you are going to pay more to use a commercial loan broker rather than going directly to your bank. This isn’t the case. I have actually seen where a broker gets a quote that is lower than what the bank is offering. The lenders do pay the brokers but the overhead in dealing with a broker is far less than that of an employee they are paying to generate and process the same loan.
If you have shopped for a mortgage or are considering doing so, it can be difficult given the amount of advertising information floating around. This is where home loan brokers come in.
What Is A Home Loan Broker
If you are considering the purchase of a property, refinancing your current loan or even getting a home equity line of credit, you have to work your way through the morass of mortgage advertising material. Given the vast amount of information on the web, radio commercials and television advertisements, how do you know which loan is best for you?
Well, you have to do a lot of homework. You need to gather up the various information provided by the lenders and start comparing the offers. Issues to consider include points, interest rates, length of the loan, prepayment penalties and fees. Frankly, it is a lot of work and makes preparing a tax return look like a walk in the park.
One way to avoid this mess is to get someone else to do the work for you. In this case, the person is known as a home loan broker or mortgage broker. These home loan brokers are independent agents who shop through the various offers from lenders ever day. All they do is mortgages, so they know the difference between a good loan and a bad loan. In simple terms, they do all the research for you.
When you use a mortgage broker, the process is so much simpler than doing it yourself. The broker will talk to you about your lending needs and pull your credit report. He or she will then tell you how a lender will view you in evaluating an application for a loan. The broker will then either suggest steps to be taken to improve your profile or provide you with the various options available to you. The next step is actually applying for the loan.
Appling for a home loan is the ultimate in red tape and paperwork. A stunning amount of forms must be filled out and documents provided. If you hate to waste your time with this stuff, a broker is definitely going to help. Home loan brokers have a person called a processor on their staff. This person’s job is to gather all of the relevant information and forms. They then put together your loan package per the lender’s requirements and submit it. When the lender inevitably loses something, the process is right there to get them the information. Essentially, it makes your life much easier.
The final advantage of a home loan broker is communication with lenders. If you have ever applied for a loan, you know the lender representatives are hard to get a hold of and rarely call you back. Brokers do not have this problem. Since brokers place a lot of loans with lenders, they get preferential treatment. They are a business source for the lenders, so you can bet the phone calls of the broker get returned immediately. This, of course, is beneficial to you since the broker will be able to keep you appraised of where things stand with the loan.
Even a quarter percent savings on a home loan can save you thousands of dollars in payments over the life of the mortgage. Mortgage brokers are the best way to find that loan that is going to create those savings for you.
If your car insurance is due for renewal and you are considering buying another policy then this article will provide you with important facts that you should know about. Car insurance policies are getting increasingly expensive and you should do all that you can to reduce your costs. How much you have to pay for your car insurance is dictated by a variety of factors as they apply to you and your vehicle.
In this article we will examine coverage limits, your age, gender and marital status, your location and insuring other household members. All of these factors will have a great influence on how much you will have to pay for your policy.
Coverage limits are generally dictated by the price that you are willing to pay for your insurance. A higher level of coverage will generally result in higher premiums. The best way to find a good value policy is to comparison shop. Nowadays it is generally accepted that the best way to do this is by using a car insurance comparison website.
Your age, gender and marital status will have a great effect on the auto insurance rates that you are offered. Insurers rate drivers using a variety of criteria, if you are a young single male driver you will usually have to pay higher rates. If you are a middle-aged female married driver then your rates will be lower. Insurers calculate the best car insurance rates for you by comparing levels of risk. Those groups which are statistically more likely to be involved in an accident have to pay correspondingly higher rates.
Location plays an important part in deciding how much your premiums will cost. Drivers who live in an urban environment will usually pay more than those from a rural area. This is because drivers who live in cities and heavily populated areas are more likely to be involved in an accident, or to have their car stolen or vandalized. Insurers generally offer better rates if you’re able to demonstrate that you keep your vehicle in a garage at night. You may also be able to improve the security arrangements of your automobile by fitting an alarm, immobilizer and steering wheel lock.
Insuring other household members will have an influence on the cost of your policy and the best car insurance rates that you offered. If you have teenage family members living with you and they are added to your policy, then your costs will increase. This may still work out cheaper than if your teenage driver were to have a separate policy in their own name.
In conclusion, there are a variety of different factors which can affect your ability to be offered the best insurance rates. Some of these are coverage limits, how old you are, whether you are male or female and whether you are married or single. Your rates will also be affected by the area where you live and whether other household members are included in your policy.