Wholesale Advantage
1.5% loan officer compensation, built into your investor loan pricing
Simply Approved Mortgages' lender-paid compensation is 1.5% of the loan amount. Less compensation built into pricing can leave room for a lower rate or a credit toward closing costs on DSCR and rental property loans.
Compare loan officer compensation on your investor loan quote
Loan officer compensation is part of the cost of a mortgage. Simply Approved Mortgages' lender-paid compensation is 1.5% of the loan amount. Enter the compensation shown on another lender's quote to see the difference in dollars.
Compensation difference on this illustration: $3,750.
How lower compensation can help you
When less compensation is built into pricing, there can be room for a lower interest rate, which may lower your monthly payment.
Depending on the rate you choose, pricing can sometimes include a lender credit toward third-party closing costs.
A lower payment can improve your property's debt service coverage ratio (DSCR) and monthly cash flow.
As a mortgage broker we compare pricing from wholesale lenders instead of offering a single bank's retail pricing.
Illustration only, not an offer of credit or a Loan Estimate. Simply Approved Mortgages is a mortgage broker (NMLS #2620881), not a direct lender. Lender-paid compensation is paid by the wholesale lender, not directly by you, and a lower compensation figure does not by itself guarantee a lower rate or lower closing costs. Actual rate, fees and credits depend on credit, property, loan program and market conditions. Business-purpose investor loans in eligible states; consumer residential lending in FL and CO only.
Compensation questions
What is loan officer compensation?
It is what the loan originator is paid for arranging your mortgage. Federal rules (Regulation Z, 12 CFR 1026.36) say it can be paid by the lender or by you, but not both on the same loan, and it cannot be based on the loan's interest rate or terms.
How much is Simply Approved Mortgages' compensation?
Our lender-paid compensation is 1.5% of the loan amount. It is paid by the wholesale lender, not directly by you.
Does lower compensation guarantee a lower DSCR rate or lower closing costs?
No. Lower compensation built into pricing can leave room for a lower rate or a lender credit, but your actual rate, fees and credits depend on your credit, property, loan program and the market on the day you lock.
What does a mortgage broker do differently from a retail lender?
A retail lender offers its own pricing. A mortgage broker compares pricing from multiple wholesale lenders and places your loan with one of them.
Can you review a quote from another lender?
Yes. Send us your scenario and a licensed loan officer will compare the rate, fees and credits side by side.
Ready to see real numbers? See Today's Rates.