How to Become a Mortgage Broker

A mortgage broker is the person who mediates a home-buying transaction between the lender and borrower. Being a mortgage broker is a job you can do either independently or as part of a real estate team. Follow these steps to get started in the field.

Difficulty: Moderately Easy

Instructions

1. Know the industry. Read about home finances, get to know real estate agents and become acquainted with the real estate market in your area through reading business, realty and banking articles in your local newspaper or trade magazines.

2. Learn the loan process and funding process for different kinds of loans. The more you know, the easier your job will be and the more money you will make.

3. Determine if you are a salesman. Although prior experience is not necessary, it is helpful. This is a people-person job that requires a great deal of building personal relationships. Make sure this fits your personality.

4. Determine if you are a self-starter with ambitious goals. For the most part, you will be your own boss. This means you need to be disciplined. Again, make sure this fits your personality.

5. Check your state's requirements to be able to practice as a mortgage broker. You may do this by contacting a mortgage lending institution such as a bank or visit the American Mortgage License website at www.amlicensing.com.

6. Take brokerage and real estate classes at your local community college or university.

7. Take the licensing exam as required by your state.

8. Know your state's laws on mortgage lending. This is very important if you are not required or choose not to become licensed as a broker.

9. Contact a mortgage lender about a job within their firm.

Tips & Warnings

• Knowing your state's laws is crucial. You do not want to get into the industry and steer someone in the wrong direction, causing legal problems.

Who Can Help Sponsored

• Earn your degree from industry experts at University of Phoenix. Take the next step in your career.

[thebestintown]

on 11/24/2008 Top Flite Financial is a mortgage broker and lender, looking to expand their presence by getting "qualified candidates" as Loan officers, or possibly opening up physical offices. The tffinc.net site is primarily designed to encourage people to open up a "net branch" of their Top Flite Financial business.

To find out more about this net branch opportunity visit http://www.tffinc.net