2 Mortgage Loan Business Success Stories [2024]
Looking to step into the lucrative world of finance? Consider starting a mortgage loan business. In simple terms, this business involves helping individuals secure loans to buy homes, refinancing their existing mortgages, or finding more favorable lending terms.
The mortgage industry can be highly rewarding, providing critical support to people during one of the most significant purchases of their lives. The role requires you to be well-versed in different types of mortgage products, current interest rates, and lending regulations. You'll need to establish reliable partnerships with financial institutions and stay up-to-date with industry trends.
A mortgage loan business offers the opportunity to build a profitable venture while making a meaningful impact on clients' financial well-being. It requires dedication, educational certifications, and strong networking skills, but the potential for growth and job satisfaction is immense. Ready to dive into this high-demand sector?
In this list, you'll find real-world mortgage loan business success stories and very profitable examples of starting a mortgage loan business that makes money.
1. Anchor Loans ($1.2B/year)
Steve Pollack, co-founder and CEO of Anchor Loans, started the private lending company after realizing that local fix and flip entrepreneurs needed access to capital to grow their businesses. With a team of real estate and IT experts, they developed a fintech platform that allowed them to fund loans in as few as 3-5 business days. Today, Anchor Loans is a nationwide industry leader, with over 85% of their customers being repeat borrowers. They have been profitable every year since their founding in 1998 and have been recognized as one of the top 1000 fastest-growing companies in America.
How much money it makes: $1.2B/year
How many people on the team: 155
Anchor Loans is a private lending company that has grown into a leader in their industry, funding over $1 billion in loans to fix and flip investors in a single year and has been profitable every year since their founding, and they credit their success to their focus on exceptional customer experience and the development of their fintech platform.
2. Stratton Equities ($12M/year)
Michael Mikhail, founder and CEO of Stratton Equities, came up with the idea for his business after noticing the transformation of the mortgage industry. He launched the company in 2017 with just $1,000 and within six months, it had grown to $1 million. To date, the company has grossed over $3 million, offering innovative loan programs and attracting customers through industry directory listings and email marketing.
How much money it makes: $12M/year
How many people on the team: 20
How a mortgage broker used $1000 to grow a leading hard money and NON-QM lender, grossing over $3m and offering some of the lowest rates in the industry by specializing in private unique loan programs with the largest variety of mortgage loans and programs nationwide and closing loans within 7-10 days.
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Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
