In-House Loans:

Two Great Ways To Generate Additional Income

In-house loans are an easy way to offset desk fees and create an additional on-going source of income.  As a NOVA Star Agent, you’ll receive mentoring from a loan officer with 28 years of industry experience on how to generate revenue with loans.  You’ll also have the support of an on-site loan processor, to help you prepare documentation for submission to lenders.

You can generate income with loans in two ways:

• You can simply refer the loan to the loan officer with a simple form and earn a flat fee of $375 to offset expenses

• You can act as the loan officer for the loan and earn a 50/50 split of 1% of the loan amount.

Every loan you refer will offset one month of desk fees.  If you refer 12 loans in a year, you will pay no desk fees for the entire year.  If you refer more than 12 loans, then the income will be applied to offset the cost of:

• E&O insurance

• Advertising that you want to participate in

• Marketing materials that you choose to purchase.

If you choose to receive mentoring to train as a loan originator, you will make your 50% commission split on every loan you manage, even during the training period.  Here’s an example of what you can make on the loan for the sale of a $500,000 home, assuming $100,000 down and a $400,000 loan: 

$ 15,000   3% Gross Commission
   - 1,500   NOVA’s 10% Split
$ 13,500    Agent’s Gross Commission
$   2,000   50/50 Split of 1% Loan Commission
$ 15,500    Agent’s Real Estate and Loan Commissions