mortgage brokers - how do they get paid ?

mortgage brokers

hi guys just have question re Mortgage brokers.
i know they get paid by the banks just wondering how much and how often.
Say i borrowed 200k over 30 years what would his/
her figures look like?

thanks Darren.

I think that's a little like asking someone how much they earn. Asking the question may seem a little personal to some.

If a mortgage broker does a good job for me, it doesn't really matter how much commission that broker earns. It's a win-win situation.
Hiya Beech

How much do you get and how often does sound a little personal.

Oh, you mean commissions ?

Heck I dont have a problem with that, seeing we disclose these anyway.

Much depends on the volumes you do and the type of business you have.

A low volume franchised broker would receive around $ 800 bucks upront commission and say 200 a year in trailing commission with the trail decreasing over time.

A broker with their own business with low volume can get $ 1300 upfront and 500 a year in trail.

These are sort of middle of the road averages.

thanks for that Rolf.
Was just hoping to get some idea, certainly wasnt after anyones yearly income or anything.
Much appreciated.

I would like to become a broker. Can someone let me know how I can do this? I don't have any finance background, though love property investing.