Education · 1 of 4
The path
No degree is required. A license is, and you can have one within a few months.
- 1
High school diploma
Grade 12
Enough on its own. A business or finance degree helps you get hired at a bank, but it is not a legal requirement.
- 2
Pre-licensing education
A few weeks
About 20 hours of approved coursework covering federal law, ethics and lending rules, plus extra hours required by some states.
- 3
Pass the national test
1 day
A single national examination for mortgage loan originators, taken at a test center. Some states add their own content.
- 4
Background check and credit report
Weeks
Fingerprints and a credit check are part of the application. Certain criminal convictions bar you outright, and serious credit problems can too.
- 5
Get sponsored and licensed
1 to 3 months
Your license has to be attached to a licensed company. You apply through the national licensing system and the state issues the license.
- 6
Build a book of business
1 to 2 years
Nobody tells you this part. Getting real estate agents to trust you with their clients is the actual job for the first two years.