How to become a mortgage loan officer?


It is not difficult to become a mortgage loan officer as a bank teller or a collections clerk also fall into this category. Usually, high school education will suffice to be employed as mortgage loan officer in some lower paying level.

If you have relevant college education, you may start at a higher paying level and/or be able to advance into your career faster.

Becoming a mortgage loan officer does not necessarily mean you are the one who takes the decision whether to extend the loan or not. Rather, you will be taking someone's loan application and run it through specialized underwriting software to assess the credibility of the borrower. If the computer cannot tell, your immediate manager will decide whether the mortgage loan will be approved.

If you are given authority to assess mortgage loans on your own risk, welcome to the world of mortgage loan sales representatives. You are working on commission rather than on salary, or both, and are very close to experiencing the risks and benefits the career as a mortgage loan officer can offer you.

At the top level of mortgage loan officer careers, if you are a successful one, you will very well be making a seven-digit income, if you ever get so good.

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