Mortgage Broker License

Written by Rylee Newton
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If you're thinking of becoming a real estate broker, you will need to pass the state's mortgage broker license exam. In addition, you will be require to complete a number of courses from a state approved real estate education facility.

It's important to understand the difference between a real estate agent and a real estate broker. A real estate agent is licensed by the state to sell real estate while a broker is the owner of a real estate company, or the person who is responsible for the agent's activities. When you earn a mortgage broker license, you increase your earning potential as well as your overall responsibility.

Passing the Mortgage Broker License Exam on the First Try

If you want to earn a mortgage broker license, you might want to look into a real estate exam prep course. Most state licensing exams are extremely difficult. Some studies say as many as half the people who take these tests don't pass them on the first attempt. The right course will provide you with the tools to pass the test on the first try.

One of the best tools you will find in an exam prep course is a series of sample tests. Many schools use tests from previous exams. These tests give you an early idea of areas where you need improvement. If you work with an online real estate school, you can get test results immediately. Some online courses will not allow you to move to the next unit of study until you receive a score of 80% or better. This is a thorough method for ensuring your level of comprehension is high enough to pass the final state exam.

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