What Is a Mortgage Loan Officer?A mortgage loan officer (MLO) is a licensed professional who helps homebuyers and homeowners secure financing for their properties. Loan officers guide clients through the mortgage process—evaluating applications, suggesting loan programs (FHA, VA, USDA, Conventional, Jumbo), and helping them close successfully.
According to the Bureau of Labor Statistics (BLS), the median annual wage for loan officers is $65,740, with top performers earning six figures and beyond (BLS Loan Officers).
What Do You Need to Be a Mortgage Loan Officer?
What Do You Need to Be a Mortgage Loan Officer?Here’s a step-by-step breakdown of the requirements:
1. Meet Basic Eligibility
- Be at least 18 years old.
- Have a high school diploma or equivalent (college degree not required).
- Have a valid Social Security Number.
2. Complete Pre-Licensing Education
- 20 hours of NMLS-approved coursework (covering federal law, ethics, and lending standards).
- Some states require additional state-specific training.
You can find approved courses on the official NMLS Course Provider List.
3. Pass the SAFE Mortgage Loan Originator Exam
- The test covers national laws + state-specific mortgage regulations.
- You must score at least 75% to pass.
- Info: NMLS SAFE Test.
4. Complete Background Checks
- FBI fingerprint check.
- Credit report review (to ensure financial responsibility).
5. Apply for Your License
- Submit through the NMLS online system.
- Pay required fees (application, background, credit).
6. Get Sponsored by a Mortgage Company
- To activate your license, you must work under a licensed mortgage broker, bank, or lender.
→ Read more: Is Mortgage Loan Officer a Good Career? The Truth Revealed
Skills You Need to Be a Mortgage Loan Officer
Skills You Need to Be a Mortgage Loan OfficerBeyond licensing, successful loan officers usually develop:
- Communication skills – explaining loans clearly to clients.
- Sales ability – building trust and closing deals.
- Attention to detail – ensuring compliance and accurate paperwork.
- Tech-savvy mindset – using CRM, LOS, and pricing engines to work efficiently.
Don’t worry if you’re new—these skills are built over time with mentorship and practice.
→ Read more: Is Being a Mortgage Loan Officer Hard? What You Should Know
How Long Does It Take to Become a Loan Officer?
Most people complete the licensing process in 4–8 weeks, depending on:
- How quickly they finish pre-licensing courses.
- Exam scheduling.
- Application processing.
→ Read more: How to become a mortgage loan officer with no experience
Why Loan Factory Is the Best Place to Start
Why Loan Factory Is the Best Place to StartStarting your career as a loan officer can feel overwhelming. Loan Factory makes it easier by giving you:
- Keep 100% commission (just $595 flat fee per closed loan + $500 processing if you use our team).
- No monthly fees – no desk rent, no tech charges.
- Free MOSO platform – CRM, LOS, pricing engine, borrower app, and marketing automation.
- 240+ lenders so you can find the best loan programs for clients.
- Mentorship from Thuan Nguyen, America’s #1 Loan Officer.
- Weekly training + in-house support to help you grow faster.
“At Loan Factory, we make sure new loan officers have the technology and guidance to succeed from day one.” – Thuan Nguyen
So, what do you need to be a mortgage loan officer? Just the right license, basic training, and the drive to help clients.
Join Loan Factory today to start your career with The Best FinTech Mortgage Platform in the USA.
→ Read more: Grow Faster with The Best FinTech Mortgage Platform In the US
FAQs – What Do You Need to Be a Mortgage Loan Officer?
