An Overview of Mortgage Loan Broker License In California

Three types of broker licenses are issued in California. The finance broker and residential mortgage lender licenses are issued by DBO (California Department of Business Oversight) while the real estate broker license is issued by the Bureau of Real Estate. The focus of this post is the third type which is, the mortgage loan broker license in California.

Read more about how to get a mortgage loan broker license in California.

Getting a mortgage loan broker license in California involves several steps. The basic eligibility norm is that you must have two years of experience in the last five years working in the real estate profession. The license is issued by the California Department of Real Estate (DRE), and when you apply for one, proof of the experience must be attached to the application. 

The most important part of getting a mortgage broker license in California is going through the pre-licensing coursework. It consists of a 20-hour national section and a 2-hour state-specific section. The course covers the fundamentals of the mortgage lending industry including best practices, finance rules, and fair conduct principles.

You can choose either online courses or one in a classroom setting depending on your learning style. Online courses though offer the leeway to study at own pace and from anywhere. Check out the DRE-approved online courses from RealEstateU, they are the best and the most affordable in this niche.

Next, appear for the licensing exam for a mortgage loan broker license in California and pass the test. Submit your fingerprints for verification of any past criminal records. You will now be issued an active mortgage broker license to launch a successful career in California.