How to become a mortgage broker with no experience

This can give you the foundational knowledge you need to work as a mortgage broker.

Acceptable bachelor's degrees in the profession include ones in business, economics, finance, statistics, and math. No matter your major, you should seek out courses in all of these subjects.

These classes will prepare you to analyze financial reports, review credit reports, and do a whole bunch of other mortgage broker-related tasks.

You also need to be able to explain complex financial issues to people seeking mortgage loans, and if you don't have the experience, then you at least need to have academic knowledge.

• Obtain a license. If you are planning on becoming a mortgage broker, you should definitely seek to obtain a license. This isn't a requirement; however, it will make you a much more appealing candidate to employers.

Getting a mortgage loan license usually requires 20 hours of coursework. You will also be required to pass credit and background checks. Requirements for this license vary from state to state, so be sure to do the proper research if you are planning to do this step.

• Craft an appealing resume. Even though you do not have any experience in the banking industry, you can still craft a compelling resume. Many work experience skills are transferable to the loan officer profession.

Your resume should highlight applicable work experience, education, skills, awards, achievements, and goals. You might also consider listing your skills and career objectives before your work experiences. This will show employers that you have valuable skills that can be utilized in the banking and financial industry.

• Get certifications. This is another step that is not required, although it can help you to advance your career as a mortgage broker.

There are different entities that you can become certified from, like The Mortgage Bankers Association (MBA) and the American Bankers Association (ABA), which offer a variety of certificates that could help you land a job as a mortgage broker.

These organizations offer certifications like the Certified Trust and Financial Advisor (CTFA), Certified Financial Marketing Professional (CFMP), and Certified Lender Business Banker (CLBB). Do the proper research on which certifications fit your career track best.