How to Become a Mortgage Loan Officer in 2024! (Step by Step)
HTML-код
- Опубликовано: 8 сен 2024
- In this video, we are going over the entire process of getting your mortgage loan license to work as a loan originator (MLO)! This is one of the easiest licenses to get, with such high earning potential. That is why I think this is one of the best side hustles or careers for anyone to do.
I'll take you through the 5 steps to become a loan officer in under 30 days.
OnCourse Mortgage (the new Learn Mortgage):
bit.ly/oncours...
^Get 15% off using my exclusive link! Learn Mortgage was acquired by OnCourse, but it's the same course! This is the exact class I took to get my loan license. I highly recommend it! It is the most affordable class out there. I was also able to get the highest discount code for my viewers - if you use that link above you'll get 15% off the MLO course!
Make sure to watch this video until the end for tips on how to become a mortgage loan officer in the easiest and fastest way. I did it myself, passed the exam on the first try, and want to help you do the same :)
Each state is going to be a little bit different, but it's going to be around a 20 hour course. Here in California, all I had to do was take the 20 hour online course, and then follow the easy steps in this video. Super simple and I still can't believe how easy it is to get licensed to be able to loans for people.
We'll go through the following:
Qualities of a successful loan officer
What is a mortgage loan originator?
How to pass the MLO exam
How to work for a mortgage brokerage
Helpful links:
Creating your NMLS account:
www.statemortg...
Affordable 20 hour online class:
bit.ly/oncours...
Applying for your license:
mortgage.natio...
One of my other videos - How To Get Your Real Estate License:
• How To Get Your Real E...
Thank you for watching and I hope this video helps you out! I put a lot of effort into these videos to help you guys out, so please make sure to support my channel by liking and subscribing! Thank you.
-Charlie
#MLO #LoanOfficer #SideHustle
Disclaimer: Some of the links above may be affiliate links, which means that if you click on them I may receive a small commission. The commission is paid by the retailers, at no cost to you, and this helps to support our channel and keep our videos free. Thank you!
In addition, I am not a financial advisor. Charlie Chang does not provide tax, legal or accounting advice. The ideas presented in this video are for entertainment purposes only. Please do your own due diligence before making any financial decisions.
► My Instagram: / charlie__chang
Different than a lot of my videos but I genuinely think this is one of the best side hustles/careers out there! I've been in the mortgage industry since 2013 and there is a lot of money to be made, so I wanted to hopefully inspire some of you to look into this :) This link below gets you 15% off the MLO course!
Get your MLO license affordably here: bit.ly/oncoursemortgage
Probably a good idea to do a day in the life video… Summarizing and showing snippets of the hustle and grind. Come to think of it,...that would make a great TV show as well.
Definitely going to look into this, thank you!!!
Do you have to get or is it recommended getting your real estate license first from Real estate express the three 45hr courses before getting your MLO in California? I’m about to sign up so I need to make sure I get the right stuff in line.
Which company do you work for? Did you find it locally?
I’m a real estate agent any I think I’d like to catch the prospects who don’t want to sell but need to set up a heloc or a refi.
*Every family has a person who breaks the chain of poverty. I hope you will be that person!*
Thank you! I really appreciate that and I wish the same for you.
Same to you !
This is such a powerful and thoughtful wish. I pray the same for you.
Thank you, this comment hit different...
Definitely true 👍💯
To any person is reading this: This is not a coincidence. You are capable to do this. If things at your job or not going OK for you right now it’s for a reason you have a future here all this information is for you and for me we can do this we can be free we are capable to achieve everything!!! BLESSINGS
If you don’t mind me asking, are you in this field of work?
@@SanacionAlmatica you better speak into me… I can’t wait to start my class
Thankyou man 1week after watching this video I decided to change careers. Took the 20hr course +prep course .I passed the exam a week ago 78% score.
How’s it going?
Are you also a realtor?
@@syd3237 yes I am.
Brother.....passing it on your first try is LEGIT. I know really smart people who cant say the same thing. Congrats. Let me know if I can ever help you.
@@Nick-qu8sj It's dope man! In this business, you are helping families acquire one of the biggest assets of their lives. anybody that wants to Pursue this I say, go for it.
An associate of mine changed careers from being a teacher to a MLO and she says it’s been life changing for her personally, emotionally and financially. Struggling with three kids to living here best life with them. I’m about to take the same leap of faith!!
and California wonders why we are short on teachers... lol
did it work for u ?
Teacher and professor don’t make enough to live wisely
Hi. Did u change careers. Did it work out for u?
On the way to getting my license after being in the business for 2 years. Key points to succeed:
1. Pay attention to the details
2. Push yourself to constantly learn
3. Network, network, network
4. Communication is key - the better lender answers questions faster and accurately, and they’ll win the lead
What are a few key ways you suggest networking to start out? Social media? Friends? Family members?
I have been looking into a company that claims they will help guide you to leads but I of course want to be able to build a client base on my own as well.
In this biz, besides learning the points this video brought out, what other things should we push ourselves to learn or focus on?
I know the markets slowed since the release of this video but I’m about to dive in because I’ve been presented an opportunity. May I ask how you’ve been in the industry for a couple of years and are now about to get your license? I’ve been told I’m about to take a 2-year journey as well.
@@michellem1700 really listen to your mentor (if you have one) and hone in on the resources that are available to you. A client will work with you because they trust you and if you provide value, so figure out how you can provide the best experience to them.
Hi Spencer, do I go ahead to take the NMLS exam, or I need to work for an office then take the exam? Thank you.
Someone who has 15 years in the game: focus on purchase! Refinances are a cherry on top. Develop realtor relationships etc etc good luck out there
What do you make on average?
What do u make
been in the industry for 8 months and i've already made my first 100k
Wow !
Can you please give some suggestion how to get this job without any lending experience? Thank you so much.
SHEEEEEEEEESH
Wowww
Congrats man
If you want to be successful is to never give up and be consistent and patient
My cousin has been a loan officer for a few months now and works for quicken loans, he already makes 20k a month.
Not a fan of quickie my self but good for him is he in a call center retail division
I can't afford community college no more, Is this a good career? I live in Houston.
Just passed my licensing exam last week, submitted my app, and meeting with a potential sponsor for lunch on Thursday! Hope this is something that can really be life changing.
Is it difficult? Would you recommend this for someone who has no experience at all? How long did it take for you to go from knowing nothing to where you are now?
Make sure it’s a good lunch because that’s how you get in.
@@jragon9215 it was good! I have been hired since October 10th and just had my first loan go under contract! Looking forward to things ramping up as the new year rolls out.
@@35jdub any update?
@35jdub how is the job going now. I'm interested in it for myself. Plz advise
I would love to see a video about being an agent vs being a mortgage loan officer. Pros and cons. Income potential ect.
I second this!
Aren't they basically the same thing?
@@jaylee6769 No totally different.
@@skybasquez5402 100%
I personally have met LOs that make 100k+per month..... they definitely make more then real estate agents I think.
Charlie, I used to work at a bank and talk to many loan officers. Some make up to 6 figures, I have a college degree but don't make close to that amount. I am thinking about doing some side hustles that you mention. Keep making more great videos.
I am a loan officer. I now have a team underneath me. My own processors and openers. If you grind you will make a killing. I wont tell you mow much i made last year but i will tell you i own a mclaren. And payments on that alone are over 2k per month. Qlong with other cars, homes, investment properties. And im not even 30
@@jeffreycacace1985 wow that’s great to hear!!
@@jeffreycacace1985 you make 300k a year
@@Ram-rm2gzmore
@@jeffreycacace1985 can we talk more about the subject privately? Instagram?
I just finished my pre-licensing test and scheduled my test. Ready for this career change!
@@iginah23 good luck
I just signed up for my class yesterday! Excited for what the future has in store for me in providing for my family
Hi Cali r I taking this course
@@salsilaamini4960 I am taking a course on Allied real estate schools for MLO
It’s interesting that you say your excited for providing for your family, but you don’t mention that your excited to learn about the contents of the course itself or the discipline?
@@jragon9215 would you prefer I type a whole essay out? Always the internet trolls looking for something to be upset about
@@calirose1315 I’m not a troll, this is the type of field that you have passion about because you enjoy it, that’s the primary reason or it should be.
I turn 25 this year and I’ve been stressing on what career I want to pursue.. I watched this video and I felt a little spark in me. Sounds like the type of job I really would enjoy doing. I’m gonna go for it & never look back. Thank you for this great information!!
Update?
how's it going?
hey! how is it going
The industry is F….. up. I got my license over a year ago, Closed some deals, and now I’m out. If your still pushing for the industry I wish you the very best, but just becareful. Cause the housing industry will depend on how you work
@@YouYoDaddySon can you explain further? Looking into getting into the industry
This came at the right time!! I just told my friend I wanted to get into this. Thank you!!
So happy to hear that!!
1.5% commission on a loan, and you don't even need to do all the crap that real estate agents do. mind blown haha
Yup!! Crazy
@@CharlieChang seems like being a insurance agent is more lucrative, with steady job growth. Can you do a video like “ loan officer vs insurance agent?
Lol!
@@lavishventure4880 insurance industry blows lol
@@lavishventure4880 lol
Liked and subscribed! Thank you for such an informative video.
I spent years in college, came out with an MS, and worked in tech for a few years. The field can be extremely difficult/painful, and it doesn't matter if you're working nights and weekends, missing birthdays and not being able to see sick family members- you get paid the same, and you're still at risk of getting laid off (despite your performance) for reasons that have nothing to do with you. It happened to me. The field has not treated me well, so I'm looking for something that pays well, feels more lively and gives me freedom. I think this video gave me all the answers I was seeking. Really appreciate you!
Dear Charlie, you are my role model. I’m starting my business career now it’s much later in life but I want the same car as yours. I’m a woman but I like to be a baller like you. You actually encourage me compare to my friend who’s told me no not to persuade this MLO career path. I’m going to push because I want to proof that loser wrong!! Well it’s my M.O to achieve
so you don't need a realtor license for MLO?
This was simply an amazing video! This was exactly what I was looking for. Thank you so very much for making this video!
Yes omg , I’m taking this as a sign because I’ve been so up and down about getting into this !! Thanks for this
Or just your phone spying on you knowing what you talk about and what to recommend you watch 🤷♂️
Wow! Thx. I find this video very explicit. MLO is something like to do but I wasn't sure where and how to start. Now I feel more at ease to get started. TYVM.✌️
I am 16 years old looking into being this as a full time job when i turn 18 and the only thing that's really making me think about it is how I will get clients, because I don't know many people and i'm very confused on how i'll get clients without having any connections at all
Thank you so much. I really enjoy anything to do with finances and I think this is definitely something for me! 😁
Taking my 20 hour course currently. I can't wait to get things going with this career!
What program are you doing your 2o hours with
Did you go through with it? If so do you enjoy it? I’m looking into this now
@@kalebbarnes1584 I am still working on getting licensed but I am currently working for a mortgage company as a closer/Funder and I've loved it.
You really down play the difficulty of the test. It's hard. Really hard. I just passed it and had to cram for weeks.
i think this is exactly what i was looking for. ive been trying to find a way where i could connect all of my skills into a career. i have a strong marketing background, bilingual (spanish) and really passionate about real estate. im a dev at a startup but honestly i dont have much passion for it anymore. just helped my parents sell and buy their primary residence and i really enjoyed the process of working with the loan officer. ive become really good friends with them too. so i think i might be able to use that connection to get my foot in the door at least. thanks for sharing!
I was about becoming homeless when my mother's friend introduced me to *VISIBLETRACK* on ig, and he got me a benefit of $22k. He is my life saver
You mentioned to pass the best learn the”Key Terms” would be greatly beneficial for passing. Could you shine some light on the Key Terms someone should know well to best pass the exam?
Started the first two modules today 🤘 🤘
Bless you for making this video!!! THANK YOU!!!!! can't wait to catch up on your other content (:
Happy to hear that!
Thank you, I just got logged in to the NMLS page and I'm about to start studying this weekend. I appreciate the knowledge you've shared
Making this jump for me and for my family. I’m pumped.
The most informative video! Thank you 😊
Been looking for a video that not only told me but took me through the steps thank you man!
I’m a processor and I do ALL the work, get $0-$50 per Loan I close (trash) & have to deal with the clients directly after LO finishes the application & gets all the money when I’m done working the loan …. I want to become LO so bad. They get all the CAKE ..half the hassle
Wow. I work with lenders who have leads with credit issues. I never knew processors get paid so little
Great video. I am currently studying for my exam. This was very helpful
What program do u through for your 20 hours ?
Thanks, so much Charlie Chang for the insight and what needs to be done. I truly appreciate you and your time.
Charlie following your advice and just signed up to hopefully be a successful MLO with Learn Mortgage. Your tutorial was spot on and I even found a discount code to use for 20% as that helps!
Awesome to hear that! Wishing you a very successful journey Roy
What was the discount code?
@@joeunion174 career/is the word for the discount Joe! Save 85 bones my brother
what's the 20% discount code?
**Attention** You mentioned that Compu Cram made up 80% of your studying material. What was the other 20%?
Wonderful, concise video. Thank you so much for putting this together. God bless you and your family.
Thank you for making this Charlie! I appreciate you walking through the step by step to make this easy!
Great energy and explanations Charlie! Awesome vid.
Hey so if you defaulted on your student loan debt- will you still be able to do this
Exactly what I was looking for, thank you!
If you are a snowbird, do you recommend becoming licensed in 2-states? Therefore, when licensed can one only work with 1 company?
Charlie, this is an excellent video! I will look for a follow up video on "what new MLO may experience & how to overcome it!" I am saving this one!
Thanks Charlie for "loaning" us this information...😉
Haha good one 😀
(ba dum dum tizz 🥁) Lolol
Of fuck I came
I just passed the test. Could you recommend some good sponsors? I live in Orange, CA. Thank you so much
which one did you go with?
This is the best most informative video I’ve watched yet it answered all my questions thank you
Very very good video! I am going for it. Thank you Charlie!
Awesome. Thank you very much. Signing up this week.
This was super helpful. Much appreciated!
Enjoyed the video, appreciate the info!
This is a little off subject...I want to start a real estate business and I am learning a method call "subject to" i have read that there a situations where the bank will request the loan to come do. I have not gotten a answer as to why this happens
Excellent video. Very good presentation style and language used, clear speaking, good pausing, good phrasing.
How do I do this course please
Great video!! Thank you so much. I needed this.
Good video - I actually took the steps literally step by step as they were presented ,
Is Learn Mortgage classes mainly video lectures like Mortgage Educators or mainly text book style? I'm trying to figure out which one to go with.
Ah. Just discovering that this is a job. Im now debating getting my real estate license or doing this instead. My end game goal is really just to become a real estate investor. I think both fields will help me understand how real estate works. Hmmm which one to choose first.
I’m in the same boat.
I prefer MLO. Less driving around. Easier to target realtors and prospects without driving buyer's around.
Love love loves!!! This is soooo motivating - thank you for posting
Thank you🙏! I pass my exam on 2nd try on 5/4/24 😁 80%
Most informative video ever! Thank you so much for posting this video! ❤
Great video! Definitely considering getting a mortgage license after watching this. Appericate the content
Just register for classes. Excited to get started!
How do you stay up to date with the new or changed regulations and laws? Any good forums or groups that are state or city-specific?
It's a requirement to partially redo tests every year
I work closely with lenders and real estate agents who have leads with credit issues. I was thinking of getting licensed but I don’t want my affiliates/partners thinking I would steal their leads. Any thoughts on this?
GREAT VIDEO! INFORMATIVE AND STRAIGHT TO THE POINT! TY!
Very clear and informational video. Thank you!
Just to be clear
if you do the class he recommends and don't finish your sol and it expires
I got sick and couldn't finish mine
its expired now
be very certain you have the time to finish it so you don't waste money
Was the courses you took with learn mortgage good ?
I will start studying for mine in the new year.
Thx Charlie great video!! I have just bought the course for mlo
I'm taking the 20 hour course currently and have been told by numerous MLOs its extremely difficult to make this a part time job or a "side hustle". How does the normal person do this on the side and still make a profit?
True, it is a bit difficult to have this as a side hustle since you’ll be at a bug disadvantage! Same with real estate. I encourage people to try it out and if it works out to turn it into a career. I’ve been doing it as a side hustle for a long time since it kinda works with my real estate business
@@CharlieChang can you take any 20 hour course or one in your state?
@@BishimDeja the 20 hour course is national. If you work for a bank that is all you need. If you work for a non-bank you would need to add each states requirements. This video is so good and well explained.
@@BishimDeja You are correct, I should have been clearer....SOME banks will want you to take it and thats the most they would ask for. In my experience I don't know of any banks that want you to take it.....in fact they discourage it as it makes it harder to leave the company and go work for a non-bank which is where the real money is at.
@@CharlieChang How do you also have a real estate business? It's illegal to have both licenses.
What are your thoughts about how this type of business will be impacted by blockchain technology?
🅦︎🅗︎🅐︎🅣︎🅢︎Ⓐ︎Ⓟ︎Ⓟ︎..
.+•1•8•0•6•3•1•8•1•5•1•6.
That’s a great question...
Hi Charlie, great video, new sub⭐🌟⭐. I just started a Notary Business but I want to put myself in a position to win this year. I am thinking that once I establish myself as a Notary Signing Agent. I am going to add this next. I will be watching a lot more of your videos. This is my year for financial success and I am claiming it.
Thanks for the GREAT INFO 👍🏽
Let’s say I choose the DFPI (I’m from CA) and I currently don’t have a RE Salesperson license, but may plan on attaining that in 2 years- do I consider the DRE MLO license? Thanks in advance 😀
You can only go the DRE route if you are a licensed salesperson.
Can you do this part time, so that you don’t have to jump in head first and quit your job?
Yes. But a few clients will make it pretty much a full time job
I want a video how to be a millionaire in 2021!😂
This is amazing and inspiring. Thank you.
No bachelor's required? Hold up now 🤔
Great video! Thank you so much. I have a question: How much time do you have to work with an employer to be able to open your own company?
Great video. Thank you for sharing.
Very informative...Thank you
Thank you for the advices I really apreciate god bless you my friend 🙏😇
Future Loan Officers leave this video a like !
Hey Charlie awesome video. I am seriously considering getting into this. What do you do if you have completely 0 experience though. Like after you get your license and everything how did you start when You knew nothing. Is there any advice you can give me??
wow you were right on when u said skip ahead 30 seconds.......
I’m subscribing because of this video!
🅦︎🅗︎🅐︎🅣︎🅢︎Ⓐ︎Ⓟ︎Ⓟ︎..
+•1•8•0•6•3•1•8•1•5•1•6.
Hello, thank you for your video is very helpful, just wondering if as a real estate agent you have a buyer can you help them with the loan if you are a licensed mortgage loan officer? Thank you
This is awesome thank you so much
My man, awesome video!!
I'm studying for the real estate exam right now in Florida, but I've been looking into MLO also. I think here in Florida you can do both simultaneously. Is it hard to get into MLO w/o experience or is licensing the main requirement?
Do you need to have Bachelor as a requirement? Or, is it okay to only graduate with a High School diploma.
There's always a company that will start you out on a junior pay plan until you hit real $
Yes you could do both simultaneously, but you cannot performed both the jobs in one client. If a client is buying a home with you, he or she has to find a loan officer somewhere else and vice versa. I believe that's one of the rules or law. Good luck with everything.
Yes, in some states required for you to have a bachelor's degree
@@deblinrodriguez7392 a bachelor's for what?
You might've just saved my life bro
?
Pretty clear and helpful.
Hello. Thank you so much for this info. But I'm studying for a few hours a day, and still can't understand what the book is saying about different loans. And especially abbreviations. Can u please give me some advice on how study to better understand what they mean. It just doesn't go to my head😅 I passed series 6 and 63... but this one is too much 😢
Very helpful video. Thank you!
Hi! Thank you for all this info! I have a question, in California, what are the rules about sponsorship/ having someone to hang your license with? Do you have to have a job lined up already? If you don’t, is there a certain amount of time that you need to get a sponsor before do you have to start all over?
Amazing video!
Question: If I am registered with NMLS with my current employer, does that stay with me if I leave the company?