How To Become A Licensed Mortgage Broker? A Complete Guide

Are you interested to know how to become a licensed mortgage broker? If yes, becoming a mortgage broker is a good career. If you are interested to become a mortgage broker, you should pursue formal education, training, as well as a mortgage broker license. In this blog, we will discuss how to become a mortgage broker.


Mortgage Broker:


A mortgage broker defines as the middleman who handles the mortgage loan process for businesses or people. Basically, they connect mortgage borrowers and lenders without using their own funds in order to set up the connection.


How To Be A Mortgage Broker?


Mortgage brokers are experts who work with loans for residential and commercial real estate. They are independent third parties who work with both lending institutions as well as clients to compare the multiple possible mortgages and classify the best rate for the client who is purchasing a home. A mortgage broker needs a high school education and extra training and a mortgage broker license. It is vital to note that mortgage broker is separate from the mortgage loan officers who work for banks in order to approve mortgages.


Steps To becoming A Mortgage Broker:


What does it take to be a mortgage broker? Read below to learn about the three imperative steps you will need to take to start your career as a mortgage broker.


Earn Your High School Diploma:


While the loan officer position typically needs a bachelor’s degree to fulfill the education, you will only need your high school diploma before beginning your training for the mortgage broker position. In case you don’t have high school diploma, consider taking classes at your local community college or using online resources in order to research for the GED exam, which can now be taken in both online and offline mode.


Obtain A Mortgage Broker License:


To meet the qualifications for the mortgage broker career, you will need a license. Before you take the licensing exam in order to earn a mortgage broker certification, you will need to take the course online in order the learn the accurate laws and skills for the mortgage broker. The NMLS provides 20-hour courses that will be ready you for the licensing exam. The NMLS fee to become licensed as a mortgage broker varies state by state, but is often around $1500. Once you pass the exam, you will be ready to take the next step in becoming a mortgage broker in order to get a job.


On Job Training:


After you become licensed as a mortgage broker, it will be very imperative for you to gain practical experience by on-the-job training. Once you have been hired by a brokerage firm, you will likely spend many weeks alongside an experienced mortgage broker and learn from them. This will assist build the skills you require to finally work independently in order to find mortgage loans for your clients.




In conclusion, to be a licensed mortgage broker, you should follow all the above steps. These steps will make it easier for you to fulfill your objectives and become a successful mortgage broker.