Can anyone offer me some advice on how to become a mortgage broker?

I';m 24 years old and serving in the U.S. Air Force. I finish up my commitment in 13 months and plan on pursuing a career as a mortage broker. I'd love to learn the ins and outs of mortgages because I plan on investing in real estate some day. I know there are risks involved in this job because most mortgage brokers are paid by commissions only, but I believe I can do this. I would absolutely love any advice, comments, or encouragement. Thank you.Can anyone offer me some advice on how to become a mortgage broker?
How to become a mortgage broker is the easy part. I'm guessing you want to sell as a rep for a mortgage brokerage, not actually starting up your own brokerage. That being the case, you don't need any licenses like a realtor or insurance rep, just a great work ethic and an open mind. So actually, ';Anyone'; that wants to start as a mortgage broker rep can walk in a brokerage and start selling the same day. There are MANY companies online that will alow you to broker for them and run the 1003 (loan apps) and deals through them. I would suggest getting some experience and training from a brick and morter company before trying this because they don't give you much training or support- you just pay them a flat fee. To be successful, you do need to know the lingo and walk the walk. Also, You can sell in any state that your brokerage is licensed in, so virtually you can sell anywhere in the US. Usually, if you have no industry experience, then a strong sales background is looked for when sales managers interview you. This is a 100% sales position. Be ready to make about 100-120 calls a day and don't look for a paycheck for a few months. Along with a strong sales background, you need to also become a super networker amoung your peers. Pick up a book or two about networking- I suggest ';Networking with Millionaires'; by Dr. Thomas Stanley. This career move takes time to see results, however over time you can pick up momentum and really become a success. I hope this helps. On a side note- If you are wanting to invest in real estate I would recomend being a real estate agent for a few years and leting you license run out. This way you get experience in the investing area and when you sell your properties you are released from the disclosure laws and don't have to list your property as ';Owner-Agent';.





It sounds to me that you may fair better working part time as a realtor and working a day job until you pick up the experience you need for investing. The mortgage brokering is an entirely different bear. I had owned my own mortgage brokerage for several years and then left that to become a realtor. I now own my own investment company.





I would be happy to answer anymore questions you may have in the real estate industry.Can anyone offer me some advice on how to become a mortgage broker?
It's a cyclic business and going into a slump right now. Some people are getting laid off (I know of one) Food for thought.

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