No matter what type of career you want to have for yourself, you will have to put effort into it. Take starting a career as a mortgage loan officer, for example. If you happen to have any experience working as a loan officer at a bank or mortgage company, then you might just have what it takes to branch out on your own while still working for someone else.


You can work for someone else or a financial institution and still act as if you are working for yourself. Regardless, it is a given that you will have questions. It isn’t the easiest thing in the world learning how to get started. However, since the dawn of the internet, those questions have gotten a lot easier to find the answers to.

Here are some of the questions that are seen most frequently.

  • Is it worth the trouble to open your own business or would it be better to work for someone else on commission?
  • How do you get VA and FHA approval?
  • Should you open a net branch or become a mortgage broker?
  • What exactly IS a net branch and how do you know if that is what you want?
  • How will you find lenders?
  • Which elements can be dealt with in-house and which should be outsourced?
  • What type of licenses will be needed and which regulations are the most bothersome?
  • What is involved with the hiring and management of staff?
  • How do you come up with a business plan and is one really necessary?
  • What is the occupational outlook for a mortgage loan officer?

Of course, you will have many more questions than this, but finding the answers to these will get you on your way.

Getting started

Once you have found the answers to all of your questions, you will almost be ready to get started working as a mortgage loan officer. This can be done (easier) if you take small steps.

Here are a few to get you on your way.

1. Get registered with the state. Whatever state you hold a mortgage license in, get in touch with the secretary of state. A representative from that office can get you the proper paperwork that you will need to fill out and they can also tell you which documentation you need to provide them with.

2. Make a comprehensive business plan. Include the type of clients you will cater to, your business goals and how you intend to meet those goals.

3. Get a federal tax number. You can get this from the IRS by phone or online.

4. Establish a relationship with vendors such as survey companies, closing agents, title companies and appraisal companies.

Make it bigger

Once you have successfully begun your career as a mortgage or loan officer, you will want to know how to make your business grow.

Here is a quick peek at a few tips for that.

  1. Understand the weaknesses and strengths of your business and apply yourself where needed.
  2. Know who your competition is and what they bring to the table.
  3. Use your employees to the best of their abilities.
  4. Make sure that your employees are content and happy in their positions.
  5. Don’t get comfortable. Keep growing and moving forward.