How Do I Become a California Loan Broker?
Mortgage brokers in California are able to list and sell real property, as well as reconcile loans held by real estate. If you are licensed as a mortgage broker in another state, it is necessary for you to acquire a California license in order to act as a broker.
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Instructions
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Requirements for License
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Citizenship, Exams and Classes You must provide proof of United States citizenship or proof of alien status. You must take an exam that encompasses all disciplines of real estate business and financing. There is a $50 fee to take the exam, as well as required completion of two college statute classes before you take the exam.
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After the Test After you pass the test, you must complete at least 45 hours of education concerning real estate. Among the 45 required additional hours of education are courses in ethics, trust fund handling, agency and fair housing. Your fingerprints will be taken for $65 and received by the State Department of Justice. You will be able to obtain a license for $165.
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Work Location Brokers in California must have an actual, physical office within the state. All other mortgage brokers working within that office must also provide fingerprints and a passing score of the required examination.
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References
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