Deciding on the right career for you is never easy. You have to balance satisfaction and passion with earning potential, and above all you’ve got to be realistic. Having dreams is great, but there’s no use going after a career that you just aren’t suited to. If you might become a mortgage broker, there are many reasons why this is a wise choice.
1 . Earning Potential
Mortgage brokers are contractors who work to analyze mortgage loans and then inform customers of the loan details. A mortgage broker works between the borrower and the lender, communicating the terms and information for both parties. According to Payscale, the average mortgage broker salary in the USA is $84,034 per year. While this is the average, mortgage brokers can earn up to $190,000 at certain levels.
2. Speedy Entry
Though the earning power is high, becoming a mortgage broker does not require years of training. Mortgage brokers have to take a pre-licensure class that is about 20 hours long in total, usually split over a month or so. The next step is to pass the National Mortgage Licensure System test. Once you’ve passed with flying colors, you’re in!
3. Diverse Options
As a mortgage broker, your options are diverse. You can work independently or as part of a company. Some prefer the latter option, due to the benefits and commission potential. Others prefer working for themselves and being their own boss. Either way, there are options to choose which kind of arrangement suits you best.
4. Job Satisfaction
Many mortgage brokers receive great job satisfaction from helping others to land their dream home. If you are someone who is financially savvy, great at problem-solving, and works well with people, it’s highly likely that you’ll enjoy this career path.
5. The perfect career change
Many of us come to a stage in our lives when we are dying for a career change, whether it’s for more money or out of sheer boredom. Some people put off a career change because they don’t want to return to university (or can’t afford to). When you pursue a career as a mortgage broker, there’s no need to go back to school, simply pursue the steps as mentioned above.
What to do next?
If you’ve decided that the career is for you, what should you do from here? One option is to learn more about the Visio broker program. For those who are keen to begin earning, this program is a fantastic start. There are many benefits of the Visio Program including fast closings, commission, and no license needed in many areas. Due to all of these perks you can get in the game and earn more- faster!
If you’re still unsure, it’s advisable to seek out career advice from a career counselor to help you weigh up your choices. When you are approaching a career change, don’t forget to network, either at events or online using apps. Research and check out all the resources available to seek out for the best advice.
How do you feel about becoming a mortgage broker after reading about some of the benefits? Let us know!