Become a Loan Agent
Although there are no educational requirements to become a loan agent, you need to comply with the preset requirements of your state.
By inquiring at the concerned state office, you can easily secure your certificate on the three courses. After that, you can now take the state examination to get your license.
Even if you have minimum experience as a loan agent, you can become one. In fact, you can work independently if you want to. As a loan agent, you will help potential clients in locating money. You will help these clients in securing loans – from filing to the different paperwork. If you’re not sure about working independently, you can also work for banks or mortgage companies. If you opt to become an employee, then you won’t need to apply for a real estate license. However, most states require a license so you need to comply with such requirements before you cab start this lucrative career. Your job will be very similar to salespeople. It’s typical to see loan agents using their pagers, cell phones, and laptops when contacting potential clients.
Commissions for a Loan Agent
You should be aware that the working hours of loan agents are different from regular office employees. In most cases, the loan agents spend at least forty hours each week but some work for longer hours. Whenever the interest rates become low, there is a surge of applications which means there will be more work for loan agents. Commission may vary and you can earn $500 to $10,000 for every case you handle and this will depend greatly on the loan amount applied for. As long as you’re willing to work harder than others and you have the skills, you can definitely make a lot of money even as a part timer.
There is no specific educational requirement to become a loan agent. The most important thing to consider is passing for the license. If you live in California, you will need to take up 3 courses which can usually last for 2.5 weeks (for each course). Each course is given as a separate home study program and since it is self paced, you’re free to finish the courses at your desired pace. You should be able to finish and learn the principles, real estate law, and the practice. You will need to take the final exams for each of the courses and you will need to get 60% or higher in order to pass. There are also online exams being conducted. Inquire at the concerned local state office so that you can comply with the exam requirements. This doesn’t here because once you receive the certification you will now take the state examination.
Once you’ve passed the state exam, you can now have your real estate sales license. So you see, it’s not really as hard as you think as long as you comply with the requirements of your state.
- Franchise Opportunities
- Wholesale Business Opportunities
- Small Manufacturing Business
- Farming Business Ideas
- Unique Business Opportunities
- Shop Business Ideas
- Small Business Opportunities
- Startup Company Ideas
- Home Based Business Opportunity
- Rural Business Opportunities
- Tips for Buying and Selling
- Starting Rental Business
- Ideas for Small Business
- Free Business Ideas
- Internet Business Ideas
- Store Business Opportunities
- Entrepreneur Business Idea
- Retail Store Ideas
- Service Business Ideas
- Advice for Small Business
- Financing a Small Business
- Restaurant Business Opportunities
- Small Business Articles
- Business Marketing and Advertising
- Repair Business Opportunity
- Professional Career Opportunities
- Business Insurance Information
- Instructor Guides