Banks, credit unions, brokers and nonbank lenders, mapped side by side
How loan officers are paid
On the map
Federal rules bar paying loan officers based on the loan's interest rate or other terms, to reduce incentives to steer you into costlier loans. Brokers can be paid by you or by the lender, but not both. Ask how your loan officer or broker is paid and where that shows on the Loan Estimate.
Last reviewed against the primary sources listed below.
Ask
- How are you paid on this loan?
- Who pays the broker fee?
- Where is it on the Loan Estimate?
Common questions about where to apply
Can a loan officer earn more for a higher rate?
No, federal rules bar pay based on loan terms.
Do I pay the mortgage broker?
Either you or the lender pays, but not both.