subject: Information On How To Become A Mortgage Broker In Canada [print this page] If you have been looking for a way to make real money or perhaps you are interested in a career change, you may have considered looking in to how to become a mortgage broker in Canada. If you are considering this opportunity you may be very surprised to learn about this exciting job. There are no college degrees or credits required and you will not need to master finance. This is not to say you will no be required to seek some education to understand the process, but there are a plethora of training options and opportunities that can get you up to speed quickly. Continue reading if you would like to learn more about this exciting career and how you can earn a great living as a mortgage broker in Canada.
This is an attractive option for many due to the ability to get these jobs without a college degree. Other attractive features of the position are flexible hours, the option to work as part of a group or for yourself, and of course the very good money that can be made. If you believe yourself to be a good seller you may just have what it takes to experience real success.
So what do mortgage brokers do? Put simply, the broker is the person who is the liaison between a person or business, the seller, and the person, people, or business buying the property. Assuming the purchaser has provided all the necessary documentation and is of a mind to proceed, the broker works for the buyer to see the deal all the way through.
There is no need for a degree, however you will be required to obtain the necessary licenses. You can get training to accomplish this, and you will find that training available in many places and formats. Courses are available on the internet for those that need flexibility along with the more traditional instructor-lead classroom courses. There are many book on the subject too, however a formal training course is probably the best idea.
When you are ready you then sign up for and take a test that, once passed, qualifies you as a licensed broker agent. This allow you to trade in what is called mortgage brokerage, and this is a legal requirement. The license is obtained differently depending on the province, so where you live will determine the precise requirements.
Next you need to obtain your broker license. This is the next step beyond the agent license, however you will still find a variety of training options available for obtaining this certification. Along with this license you will need to establish that you have worked for a Canadian brokerage for at least 24 months.
With these licenses and requirements met you a licensed mortgage broker in Canada and your credentials will arrive by mail. These courses you take and the test you must pass will require fees, although in many cases these fees can be waived. You may want or need to explore these options should you require a reduced expense on your way to becoming certified.
Once licensed as a Mortgage broker in Canada you are well on your way to a very exciting and possibly a quite lucrative Career. Certainly you'll come to realize that all the effort involved in becoming licensed is worth it.
by: Adriana Noton
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