Alright, time to announce my 3rd post on businesses you can start and operate by yourself. This business is known as being a home loan professional. Most all home buyers need a loan to complete or get started on the purchase of a home or apartment, and the very first person they meet on the road to purchasing is the loan officer, or mortgage broker in other terms.
The officer is licensed professional who will prescreens homebuyers, match them with the best loan package to suit their needs, and then makes a commission when the home owners loan closes. The home loan business is a profession that is suited best for people persons who like to network their business and who are good with numbers. If this sounds like you then you’ll have a bright future as a home loan officer!
You’ll need to start an account with NMLS. Also it is required that loan officers to complete 20 hours of NMLS education to obtain a license. If you pass the test you’ll receive a license and you can begin your practice. From my research you’ll want to spend at least 100 hours to ensure the best chances of passing the test.
You can open your business at home or in a small office to get started. Once growth occurs you can branch out to rent out a building of your own. Create a nice inviting business space where potential clients feel welcome and trust that you can lead them in the right direction with their home loan.
Once your approved by the NLMS and you have an office space, its time to acquire clients to work with. You’ll want to advertise in local papers, join networking groups, and make connections with other successful brokers. In addition to this you’ll want a home loan website that attracts visitors to you and what services you provide.
To close this article here’s a great informational video on how to get a home loan with bad credit!