5 Reasons Why You Should Become a Mortgage Broker

There is an industry that exists that is one of the best kept secrets around. What industry am I talking about you ask? It’s the mortgage industry. Becoming a mortgage broker is perfect for the individual that is looking for a career change. With Millions of houses being sold in the U.S. everyday, this position is in very high demand. The Mortgage industry is a Billion dollar industry and it is easier than you think to get your fair share of it. Here are five reasons why you should become a mortgage broker.

Reason #1- No College Nessery

Yes, you read it right. There is No College necessary to become a mortgage broker. Many people feel that because this is a profession that involves banking and because of the income you can make from being a broker, that you need a degree to become one. This statement is very far from the truth. Now don’t get me wrong, an education is required to be in this field, but getting the education you need for this is no where near the cost of going to a university. This is ideal for those who want to make a great income, but feel because of their lack of a degree that they can’t.

Reason #2-There Is a Big Demand for Mortgage Brokers

People that live here in The United States have two options when it comes to obtaining housing. They can either rent or they can buy. If they choose the option to buy (unless they are paying cash, which most people aren’t) they are going to have to obtain financing. This is where you come in. The two places that people can go and get financing are from banks and from mortgage brokers. Banks have very strict guidelines when it comes to financing for a home. If you have less than perfect credit, you might as well kiss that idea goodbye. Mortgage Brokers on the other hand have many programs that help individuals with all credit types. Most clients feel more comfortable dealing mortgage brokers because of this simple fact. Another reason that mortgage brokers are in high demand is because houses are in high demand. The real estate market is not going anywhere and as long as there is need for housing, there will always be a need for mortgage broker.

Reason #3-Great Income Potential

Now I know that money is always the great motivator when it comes to looking at career choices. Whether you just want to make $1,000 or $10,000 a month, its all up to you. You can earn a lot of money from just closing one deal. For example, with an average loan amount of $100,000, you could make anywhere between $700 and $1300 and this is just from closing one deal. Imagine if you close 5 or 6 of these, which is not an impossible feat. The sky is the limit with your income potential. The harder you work the more money you will make.

Reason #4-Time Flexibility

Besides the money, this has to be one of the best benefits of becoming a broker. People in this industry do not work a regular 9-5. As a mortgage broker, you are paid off commission. So it is up to you to get your work done. So if you want to sleep in, then you can. Most companies are really lenient on time and don’t require there brokers to come in at a specific time. These are great for those with busy lives or just have things that they just have to get done.

Reason #5-You Are a Professional

Everyone wants their position to be important, and as a mortgage broker, this is exactly what you will have. Once you become a broker you will be considered a professional. As I mentioned earlier in this article, brokers are part of the banking industry, and this is an industry that is looked upon very highly. You are also considered a professional by your clients. When most clients come in to see you, they know nothing about the process of purchasing a home. They depend on you for everything. Another reason why you will be considered a professional is that you are the only one that is going to know the constant changes that go on in the housing industry. Everyone will depend on you to keep them abreast on the changes.

There it is, my five reason why I think you should become a mortgage broker. I promise you this one thing, once you join this great profession , you will never look back.