Requirements to Become...
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Loan Officer

What are the Requirements to Become a Mortgage Broker?

Discover a Rewarding Career as a Mortgage Broker

Mortgage brokers, also known as loan officers, provide many individuals and new businesses with start-up capital, an essential first step for people looking to purchase a car or house, start a company, or pay for a college education. Mortgage brokers facilitate this lending process by finding and screening new clients, guiding them through the application process, and arranging repayment schedules. The loan process is far from fixed, and successful mortgage brokers must cultivate a nuanced understanding of credit and the different types of financial assistance available to people in widely varied situations.

Requirements to Become a Mortgage Broker
  • Bachelor's degree: The Bureau of Labor Statistics (BLS) notes that a bachelor's degree in finance, economics, or a related field is one of the major requirements to become a loan officer.
  • Work experience in a related field: Although not a hard and fast requirement, the BLS observes that employers often favor candidates with previous banking, lending, or sales experience.
  • Licensure: Some states require mortgage brokers who work in mortgage banks or brokerages to obtain licenses, a prerequisite that the BLS predicts may become more stringent in order to weed out predatory lenders.
  • Certification: Optional certifications opportunities exist for real estate brokers who have three years of experience, earn educational credits, and pass an exam. Attainment of this certification usually broadens advancement opportunities.
  • Personal qualifications: The best mortgage brokers exhibit confidence, affability, and a high degree of initiative. Knowledge of computers is also a plus.





The following colleges offer programs that can help you become qualified for a Mortgage Broker career:
  University of Phoenix

With convenient class locations as well as online learning, University of Phoenix makes quality higher education highly accessible. Whether you’re seeking an associate's, bachelor's, master's or doctoral degree, we can help you reach your goal while you work—and much sooner than you might expect.

  University of Phoenix

Founded in 1976, University of Phoenix is dedicated to meeting the needs of working students. Now the largest private university in North America, we have more than 190 campuses and learning centers as well as a flexible online learning format available in most countries around the world. Regardless of where or how you attend class, you'll receive a real-world education with real value.

  Strayer University

Established in 1892 and accredited by the Middle States Commission on Higher Education, Strayer University is dedicated to providing quality higher education programs for working adults like you. Classes are designed to fit your busy schedule, meeting on evenings, weekends, and asynchronously on the web. Undergraduate and graduate programs are available in accounting, business and internet technology.

  American InterContinental University Online

At American InterContinental University, our educational approach is designed around the realities and challenges of today's busy lifestyles, and for over forty years, we have been helping students gain the knowledge, skills and confidence to pursue the next level of their professional development.

  DeVry University

DeVry University offers flexible scheduling and the convenience to study at any of 80+ locations, online or a combination of both. Earn a respected associate degree, bachelor's degree or master's degree from an accredited university. A career-oriented education from DeVry University will put you in a great place to begin or advance in the workplace when you graduate.

  Keiser University eCampus Online

Keiser University eCampus Online offers degrees in fields that are in high demand and provides job placement assistance to all its students and alumni. We research trends for growing fields and tailor our curriculum to prepare students for entry and advancement to rewarding careers.



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