Mortgage Calculators, Mortgage Calculator Canada, mortgage refinance calculator.#Mortgage #refinance #calculator

Mortgage Calculator Canada

Make informed decisions about your next home purchase by using our simple mortgage calculators. It’s easy!

Calculate Your Payments with Today’s Rates

  • 1 Yr Fixed – 2.69% – Try this rate
  • 2 Yr Fixed – 2.79% – Try this rate
  • 3 Yr Fixed – 2.48% – Try this rate
  • 4 Yr Fixed – 2.89% – Try this rate
  • 5 Yr Fixed – 2.74% – Try this rate

Rates last updated on 16/11/2017

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Mortgage Payment Calculator

Calculate monthly mortgage payments with our handy mortgage payment calculator.

Rent vs Buy Analysis

Tired of paying rent? Ready to purchase a home? Our Rent vs Buy calculator can help you determine the decision that’s right for you by evaluation and comparing both situations.

Maximum Mortgage Calculator

Determine the maximum mortgage you can qualify for with our simple maximum mortgage calculator resource.

Mortgage Variable Isolator

See what kind of effects different financial and mortgage factors can have on a single, isolated variable.

Mortgage Principal Calculator

It’s good to understand how your future looks like. Using this tool, you can determine the remaining balance of your mortgage after several of your regular mortgage payments.

Mortgage Length Calculator

What would your overall savings look like if you shortened the length of your mortgage by making larger payments? Take a look with our Mortgage Length Calculator.

Loan Comparison Calculator

Compare and contrast your different loan options and figure out which one is the better deal.

Additional Payments Calculator

By putting more money towards you mortgage payments, you will see your mortgage reduced. Use this to calculate how mortgage prepayments affect your overall mortgage.

Interest Only Calculator

Want to see how interest only payments look like? Then use this calculator and evaluate the results.

Payment per Thousand Financed Calculator

You borrow money for a mortgage loan, but how much are you actually paying for every $1000 of your loan? Determine that here.

Interest only with Additional Payments Calculator

Interest only payments can be the cause of a great reduction in your mortgage payments, what what if you made additional payments (towards your principal)? Determine how much you can save with this tool.

From the blog.

When you find yourself in seemingly insurmountable debt, working on building your credit score and saving money at the same time can seem like an impossible feat. As you struggle to climb to the top of the mountain of bills, it seems like a never-endin.

Another year is here and so are the many resolutions that accompany the New Year trends. We all know that nine out of 10 times resolutions are not kept and so we end up with broken promises and a series of disappointments. When resolutions are too high.

While several items in Canada remain to have low interest rates, one sector is on the rise. Homeowners can expect to see a rise in mortgage interest rates later in 2013. For quite some time, interest rates were staying right around 2.99% for qualified . aims to provide its users with the best mortgage tools and calculator resources on the web. We are proud to offer our customers with a complete set of mortgage analysis resources to assist them in preparing their financial futures. We recognize and value the importance of home loans and the significance such transactions can have on one’s life. We hope that our extensive set of resources and information will help you in your search for a home mortgage and a better future. Our tools take your income, budget, loan amount and payment period into consideration to provide you with personalized solutions for your mortgage.

If you require any assistance or explanations of any of our tools, or if you’re ready to make the next move and obtain a mortgage for a home, do not hesitate to contact us. An experienced mortgage professional is ready to assist you with all of your needs.

Canadian Mortgages: Learn the Basics

Purchasing a home in Canada can be a complicated process, but it doesn’t have to be. Mortgage Calculator Canada recognizes and understands the difficulties homebuyers face. The information below, in conjunction with our mortgage calculator tools, will facilitate the process of understanding and applying for your mortgage.

Variable Rates vs Fixed Rates

The first thing you need to know about mortgages and mortgage interest rates is the difference between a variable mortgage rate and a fixed mortgage rate. A fixed mortgage rate stay constant (unchanged) through the term length of a mortgage. A variable rate fluctuates over time. As the prime rate (set by the Bank of Canada) changes, the variable rate will change with it. When the prime rate rises, a larger portion of your mortgage payment will go to interest and when the prime rate falls, a larger portion of your mortgage payment will go to principal.

Mortgage Down Payment

A mortgage down payment is a sum of money that is collected to put down towards the purchase of a new home. It is not required in all cases, however, in the case that it is, there is a minimum. How can a down payment affect your mortgage? Well, if you do provide a down payment, it is used to calculate the maximum price of a home you can afford, it is used to calculate the size of your mortgage and the mortgage payments, as well as the amount of CMHC insurance you have to pay. To qualify for a mortgage with no down payment, you need a credit score of at least 680.

Open Mortgage, Closed Mortgage – What’s the difference?

An open mortgage is a mortgage that can be paid out at any time without financial penalties. You are also able to make additional mortgage payments with no financial penalties. Typically, open mortgage terms range from 6 months to 1 year and can have either fixed or variable mortgage interest rates. On the other hand, closed mortgages have lower interest rates than open mortgages. Closed mortgage terms can range from 6 months to 10 or more years. You are not able to pay out a closed mortgage early with no penalty although with most lenders you are still allowed to pre-pay up to 20% of your original principle balance every year.

Mortgages – Fixed Rate Mortgages – Adjustable Rate Mortages – Construction Loans – Raw Land

Mortgage – Fort Knox Federal Credit Union

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Understanding Your Mortgage

There is a lot to understand when it comes to mortgages – the terms, forms and processes. With all these elements, having a mortgage can seem overwhelming. Get the information you need in order to prepare yourself for the mortgage application and home-buying process,Click here to learn more!

Easy and Convenient Mortgage Application Process: Apply online or we’ll be glad to discuss your options and take your application with you over the phone.

Borrow up to 90% of the Appraised Value – lot equity can be used as down payment

Interest Only Payments during the construction phase – helps minimize your costs prior to completion

Easy and Convenient Mortgage Application Process: Apply online or we’ll be glad to discuss your options and take your application with you over the phone.

Fixed rates up to 30 year terms available 1

Easy and Convenient Mortgage Application Process: Apply online or we’ll be glad to discuss your options and take your application with you over the phone.

VA loans and FHA loans are two types of government-secured mortgage loans. FHA loans are secured through the FHA, or Federal Housing Administration; while VA loans are secured through the VA, or Veterans Administration. Both of these loan programs offer lower costs and lower down payments than traditional mortgages, the intent of which is to place more people into homes. ( Source: )

3.5% Down Payment – can even be gift from family member 2

Seller can pay up to 6% of the purchase price towards your closing costs and prepaids 2

100% Financing Available – subject to eligibility 3

Seller can pay up to 4% of the purchase price towards your closing costs and prepaids

Easy and Convenient Mortgage Application Process: Apply online or we’ll be glad to discuss your options and take your application with you over the phone.

Current Interest Rates on Home Loans, Savings, Car loans – CD Rates, home mortgage interest

Today’s Interest Rates and Financial Advice:

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Financial Advice

Would you like to buy a home but worry that you’d never qualify for a mortgage? It’s time to stop guessing and evaluate your chances to land a loan based on everything from how much you make to your credit score. Believe it or not, the odds are in your favor.

November 14th 2017

The average cost of financing a new or used car or truck has stayed low over the past year, making auto loans a bargain by any historical measure. And buyers with reasonably good credit can always take advantage of the discount loans automakers are offering on many models.

November 13th 2017

Lending money to your child is risky business. But if you can avoid the personal pitfalls and convince the federal government that this is really a loan, and not a gift, the Bank of Mom and Dad can be a financial boon for everyone in the family.

November 13th 2017

Here’s how to make all of the right decisions so that you’ll save more, invest wisely and take full advantage of all the tax breaks to build your retirement nest egg.

November 10th 2017

It’s not enough to find a good location at an affordable price. Condo buyers must consider lots of extra costs, from association fees and special assessments to how well the building is maintained and how strictly it enforces rules on everything from noise to pets.

November 10th 2017

You’ve scouted out the best mortgage rate and fought hard to get the best price on your new home. But your bargaining shouldn’t stop there. Here’s how you can save on everything from settlement fees to title insurance.

November 8th 2017

Home mortgage interest rates

Interest ing Snapshot

Individual retirement accounts, or IRAs, are a great way to build financial security for you and your family. They’re easy to open and our simple strategy helps you make all the right decisions now, and in the years ahead.

Home mortgage interest rates

Home mortgage interest rates

Compare mortgage, refinance, insurance, CD rates, home mortgage insurance.#Home #mortgage #insurance

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Reverse Mortgage Scams, reverse mortgage scam.#Reverse #mortgage #scam

Reverse Mortgage Scams

Reverse mortgages are designed to allow older homeowners to convert the equity in their homes into income to supplement their social security and other sources of income. However, there are some serious risks associated with reverse mortgages, including reverse mortgage scams. Read on to learn more about the risks and scams associated with this type of loan.

Reverse mortgages are available for homeowners who are 62 years of age or older and:

  • occupy the property as a principal residence, and
  • own the home outright or have significant equity in the home.

The most widely available reverse mortgage is the FHA’s Home Equity Conversion Mortgage (HECM).

A reverse mortgage is different from a traditional mortgage in that it does not require the borrower to make monthly payments to the lender to repay the loan. Instead, loan proceeds are paid out to the borrower as a:

  • monthly payment
  • line of credit, or
  • a lump sum. (You can also get a combination of these as well.)

    Generally, the loan doesn t have to be repaid until the homeowner moves out, sells the house, dies, or breaches the mortgage contract in some way.

    However, reverse mortgages can be expensive and the contract terms are complicated. Additionally, unscrupulous mortgage brokers sometimes try to trick seniors into taking out a reverse mortgage by making misleading claims or perpetuating scams.

    Some Reverse Mortgage Scams and Risks

    Here are some scams to watch out for.

    High Pressure Sales

    Mortgage brokers sometimes target financially vulnerable senior citizens and pressure them to take out a reverse mortgage. Seniors may face the same sort of lending practices that were prevalent in the subprime mortgage boom, such as an aggressive sales pitch pushing them into a loan they don t need.

    Misleading Claims About FHA Insurance

    HECMs are federally insured through the Federal Housing Administration (FHA). Lenders and brokers who sell reverse mortgages sometimes emphasize the fact that the loan is federally insured as though this protects the borrower in some way. It doesn’t. This insurance program benefits the lender. The insurance kicks in when a borrower defaults on your loan and the house isn’t worth enough to fully repay the lender through a foreclosure sale. In that situation, the FHA insurance compensates the lender for the loss.

    Tricky Advertising

    Some advertisements for reverse mortgages state that you get tax-free money. But of course reverse mortgage proceeds aren’t taxed a reverse mortgage is a loan, not income.

    Also, the advertising usually fails to disclose the fees, conditions, or risks associated with loan. Often, seniors do not fully understand the terms of reverse mortgages and deceptive mailings only make this problem worse.

    Taking Out a Reverse Mortgage and Delaying Social Security Benefits

    While not exactly a scam, homeowners should beware taking out a reverse mortgage to delay taking Social Security benefits.

    Some reverse mortgage brokers and lenders advise elderly homeowners that they should get a reverse mortgage to make up the gap in income while delaying Social Security benefits until they re older. Because Social Security benefits are delayed, the homeowner the gets a permanent increase in the monthly benefit when they start receiving benefits at an older age.

    But, according to the Consumer Financial Protection Bureau (CFPB), the costs and risks of taking out a reverse mortgage will likely be more than the cumulative increase in Social Security lifetime benefits that a homeowner would receive by delaying Social Security. For more information about the risks associated with taking out a reverse mortgage to delay collecting Social Security, read the CFPB s August 2017 report.

    Misrepresenting the Risk of Losing the Home

    Some brokers incorrectly state that you will never lose your home if you take out a reverse mortgage. However, this is not true. A reverse mortgage becomes due and payable (and subject to foreclosure) when, for example, one of the following circumstances occurs:

    • the property is sold or title to the property is transferred
    • the borrower no longer uses the home as a principal residence (or the borrower moves out for more than 12 months due to physical or mental illness)
    • the borrower fails to meet the obligations of the mortgage, such as paying property taxes, maintaining hazard insurance, or keeping the property in good condition, or
    • the borrower dies.

    This means a home can be foreclosed for something as minor as unpaid insurance premiums. (To learn more about when you can lose your home because of a reverse mortgage, see Foreclosure of Reverse Mortgages.)

    Leaving a Spouse Off the Reverse Mortgage

    Some brokers have encouraged homeowners to name the older spouse as the sole borrower on the reverse mortgage loan. This is because the amount you can borrow is based on the current interest rate, your home equity, and age.

    Historically, the problem with this is that the surviving spouse can be at risk of losing the home when the older spouse passes away. This is because the loan becomes due when the last borrower dies . If the older spouse was the sole borrower on the reverse mortgage, the loan was considered due and payable when he or she died. Fortunately, if you take out a FHA-backed reverse mortgage after August 4, 2014, you’ll be protected if your spouse passes away, but you are not named as a co-borrower on the reverse mortgage so long as you meet certain criteria and strictly adhere to all requirements.

    For HECMs taken out prior to August 4, 2014, lenders have the option to foreclose or assign the mortgage to HUD. If certain criteria is met, the non-borrowing spouse can remain in the home. (Learn more in Nolo s article New Rule Spouses Not Named on Reverse Mortgages Are Protected From Foreclosure.)

    Reverse Mortgage Lenders

    It is interesting to note that big banks have gotten out of the reverse mortgage business. MetLife, Bank of America, and Wells Fargo, which were among the top issuers of reverse mortgages, have all exited the market. As a result, smaller mortgage brokers and lenders tend to be the only ones offering reverse mortgages to consumers.

    Getting Advice

    It is highly recommend that you proceed cautiously if you are thinking about taking out a reverse mortgage. This type of loan can be expensive and reverse mortgage contracts are complicated. If you are considering a reverse mortgage, be sure that you understand all of the risks and conditions involved. It is recommended that you talk with an elder-law attorney or financial planner before taking out this type of loan.

    New York State Mortgage Assistance Program – Home, New York State Mortgage Assistance Program, mortgage

    At Risk of Foreclosure? We May Be Able To Help.

    If you’re at risk of losing your home because you’ve missed payments and have exhausted all other sources of help, the New York State Mortgage Assistance Program may be an option for you.

    NYS-MAP provides a 0% interest mortgage loan up to $40,000 to eligible New York homeowners at risk of foreclosure.

    To see if you might be eligible for the New York State Mortgage Assistance Program, please fill out the following form so that we can connect you with a government-vetted non-profit housing counselor or legal services provider in your region.


    Contact us at 855-NYSMAP-3.

    We care about your privacy.

    What You Need to Know:

    Who administers the program?

    The New York State Mortgage Assistance Program is administered by the Center for NYC Neighborhoods, a non-profit organization that promotes and protects affordable homeownership. Loans are made by Sustainable Neighborhoods LLC, a wholly-owned subsidiary of the Center.

    To learn more about the Center for NYC Neighborhoods, visit You can also view our non-profit status here.

    Who is eligible?

    To be eligible, homeowners must have experienced a financial hardship and must demonstrate an ability to afford their housing payments after receiving assistance. There are other requirements a homeowner must also meet in order to be eligible, which the housing counselor or legal services provider we refer you to will explain in detail.

    What can loan funds be used for?

    Funds can be used to bring a mortgage current, help get a modification, pay off a mortgage or property tax arrears, or settle other debts that could lead to foreclosure.

    What are the loan terms?

    The loans made under NYS-MAP are mortgage loans that carry 0% interest. No monthly installment payments are required on the loan during its term but the full principal amount is due on the sale or refinance of the home or upon default.

    Who vets the housing counseling and legal services providers?

    All referrals are made to foreclosure professionals in your community who have been vetted by the New York State Attorney General’s Homeownership Protection Program.

    How do I know this isn’t a scam?

    The New York Attorney General’s Office helped develop the New York State Mortgage Assistance Program. You can read the press release here. Learn how to spot a scam on the AG’s scam prevention site.

    • Mortgage modification program
    • Mortgage modification program

    Deducting (PMI) Private Mortgage Insurance in 2016, 2017, home mortgage insurance.#Home #mortgage #insurance

    Deducting (PMI) Private Mortgage Insurance

    Homeowners are usually well informed about the home-related tax deductions that they can make at filing time. However, when purchasing a home, other costs can quickly accumulate. For buyers who can t come up with a 20% down payment on the purchase price, they will have the added cost of private mortgage insurance (PMI).

    The PMI is a policy that is taken out by the homebuyer to protect the lender against possible default on the mortgage loan.

    Table of Contents

    PMI is Now Tax DeductibleHome mortgage insurance

    This income tax deduction was developed as an element of the Tax Relief and Health Care Act of 2006 and initially added to private mortgage insurance (PMI) plans issued in 2007.

    This tax break was extended by lawmakers because of the slow recovery of the housing market. It has been extended by Congress for premiums paid up to 2016.

    The PMI deduction can be taken by policies issued by the Federal Housing Administration , Department of Agriculture s Rural Housing Service, Department of Veterans Affairs and even private insurers.

    Counted as Interest

    Since some property tax payments and mortgage interest exceed the regular deductions that can be claimed, a number of homeowners have to itemize their deductions.

    You can find the PMI deduction in the Schedule A under the section Interest You Paid , which is on line 13.

    How much PMI can you claim? The amount is shown in box 4 of Form 1098 what the lender sent in the alternate year-end mortgage details statement.

    Time, Occupancy Restrictions

    You should make sure you meet the requirements before you claim the PMI deduction.

    Take note of when you sent in payment for the mortgage insurance. If you paid a PMI on your mortgage on or after January 1st 2007, the deduction is eligible. Prior to that date PMI deductions are not eligible.

    Any new mortgages up to and including 2016 will qualify for the PMI deduction.

    You will also qualify to get the PMI deduction if you refinanced your home after January 1st 2007. You should be careful how the refinance is structured though. The deduction applies to refinances up to the initial mortgage loan amount, not to any additional money you might get from the new refinanced mortgage.

    Second home loans also qualify for the deduction of PMI payments. Similar to your primary home, the second home mortgage must have been issued after January 1st 2007 for the deductible to qualify.

    The second property has to be for personal use, not rented. You will not be able to claim the PMI if the second property is rented. If your second home is rented you might be able to claim tax breaks as a rental property.

    Income Phaseouts

    To conclude, even though there isn t a statutory restriction on the total amount of PMI payments you are able to deduct, the amount could be lowered depending on your earnings.

    The deduction will start being reduced once the homeowner s adjusted gross income (AGI), exceeds $100,000. This earnings restriction is valid if you are single, the household head or married and submitting together. The phaseout will start at $50,000 AGI for married couples filing taxes independently.

    The PMI deduction is lowered by 10 % for every $1,000 a filer s earnings are over the AGI restriction. The deduction goes away entirely for the majority of property owners whose AGI is $109,000 or for married couples filing taxes separately $54,500.

    The Schedule A directions consist of a work sheet, as does the majority of income tax preparation software programs, that property owners could utilize to figure out their lowered PMI deduction total.

    Use TurboTax and Forget the Hassle

    When you use TurboTax Online to prepare and file your taxes , you don’t need to know anything about PMI and other homeowner tax deductions. We’ll just ask you simple questions, fill in all the right forms, and do all the calculations for you.

    How to Write a Hardship Letter for Mortgage Loan Modification, mortgage modification program.#Mortgage #modification #program

    How to Write a Hardship Letter for Mortgage Loan Modification

    A hardship letter is a key factor in getting approved for a loan modification program. If you can write a polite and accurate hardship letter, you may be able to convince your lender to give you another chance to repay your loan. However, writing such a letter can be intimidating for money borrowers, as they are unsure of what exactly to write and how much of their story to include. Lawyers can usually write one of these letters for you, but at too large a cost for a borrower experiencing financial hardship to afford. Luckily, writing your own hardship letter can be a simple process if you follow the steps below.

    Steps Edit

    Part One of Three:

    Starting Your Letter Edit

    Mortgage modification program

    Mortgage modification program

    Mortgage modification program

    Mortgage modification program

    Part Two of Three:

    Explaining Your Hardship Edit

    Mortgage modification program

    Mortgage modification program

    Mortgage modification program

    Mortgage modification program

    Mortgage modification program

    Mortgage modification program

    Mortgage modification program

    Part Three of Three:

    Perfecting the Letter Edit

    Mortgage modification program

    Mortgage modification program

    Mortgage modification program

    Mortgage modification program

    Mortgage Broker: How to Become a Mortgage Loan Broker, mortgage broker training.#Mortgage #broker #training

    Mortgage Broker: How to Become a Mortgage Loan Broker?

    Research the requirements to become a mortgage loan broker. Learn about the job description and duties and read the step-by-step process to start a career as a mortgage loan broker.

    Should I Become a Mortgage Loan Broker?

    Similar to loan officers, mortgage brokers work for prospective business and home buyers to arrange loans. They act as intermediaries between the buyers and mortgage lenders and may be the fiduciaries of the buyers. Legally, they are considered a type of financial institution, even if they work as independent contractors.

    Loan officers must have at least a high school diploma and be licensed. To earn licensure, these officers must complete 20 hours of education. The chart below contains the basic requirements to work as a mortgage broker:

    Find schools that offer these popular programs

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    • Insurance, General
    • Marketing for Apparel and Accessories
    • Marketing for Travel and Tourism Operations
    • Modeling
    • Real Estate Sales, Appraisal, and Finance
    • Special Product Marketing
    • Tourism Promotion Operations
    • Vehicle and Vehicle Parts Marketing

    Career Requirements

    Sources: U.S. Bureau of Labor Statistics,, O*Net Online

    Step 1: Complete Related Courses

    The minimum level of education required to work as a mortgage broker is completing high school. However, to connect borrowers and lenders, a mortgage broker must be able to review financial documents and conduct research. Classes in computer use, keyboarding, research skills and math may help prepare an individual to work as a mortgage broker.

    Step 2: Attend Pre-Licensure Education

    Pursuant to the 2008 SAFE Act, all mortgage brokers must be licensed. Records of non-financial related licenses issued throughout the nation are maintained by the National Mortgage Licensure System (NMLS). The NMLS also provides guidance on obtaining licensure to aspiring mortgage brokers.

    To become licensed, an individual must complete a 20-hour pre-licensure program and pass an exam. The 20-hour education programs are available throughout the U.S. and provide instruction about relevant federal laws and regulations, loan officer ethics and mortgage origination.

    Success Tip:

    • Prepare for the exam. Outlines and a handbook are available on the NMLS website. These items may help individuals prepare for their licensure exam and, in doing so, make it more likely that they will pass the exam the first time.

    Step 3: Take the Licensure Exam

    Aspiring mortgage brokers must pass the SAFE Mortgage Loan Originator Test. This test includes national and state parts. All aspiring brokers take the same national test, while the state portion of the test differs depending on the state in which the individual intends to work when licensed. Exams can be taken on demand throughout the U.S.

    Step 4: Begin Working as a Mortgage Broker

    An individual can work as a mortgage broker after passing the SAFE exam and becoming licensed. A mortgage broker may negotiate mortgage loans, accept funds to invest in real estate and sell or oversee mortgage loans.

    Step 5: Complete Continuing Education

    Licensed mortgage brokers must complete continuing education to retain their licensure and advance in their careers. Specific requirements can vary by state, but typically include completing continuing education hours every year.

    Loan Origination Training, Loan Originator, Become A Loan Originator, mortgage broker training.#Mortgage #broker #training

    Loan Originators and Loan Origination Training : How To Become A Loan Originator

    Becoming a mortgage loan originator just might be the best decision you ever make. Loan originator is one of the last professions remaining that you can enter with little out of your pocket and unlimited income potential.

    This website can help you by showing all the things you have to know to be a loan originator . In the mortgage business a mortgage loan originator is the person who gets the loan. You can work as a broker or a loan officer. But to be successful you must get the proper loan origination training . On,our website, we refer to loan origination training as mortgage broker training. The words are interchangeable. Our main loan origination training manual is a useful tool that will be a permanent guide through the loan approval process: from what you need to start you career to how you can have most of your loans approved.

    Take a look at our website and look at the different subjects this manual covers. There is also a short quiz to see how much you know about being a loan originator already. After taking the quiz, you will have a much better idea of how well your loan origination training up to this point has been.

    Become A Loan Originator

    To help people become mortgage loan originators we have written a book titled So You Want To Be A Mortgage Broker. You can get more info about the book at Like I said earlier a mortgage loan originator is a mortgage broker in most parts of the country. The terms mortgage loan originator, mortgage broker, and loan officer are synonymous. We could have called it So You Want To Become A Loan Originator and it would mean the same thing.

    Step one to becoming a mortgage loan originator is to find out if you need a license. Most states do require them. There is a complete listing in the book mentioned above.

    Step two is to get your license and find a job. That shouldn’t be too hard because you will be working on commission and if you do not produce you do not eat. So finding a company to work for will not be very difficult.

    Step three is to get proper loan origination training.

    Loan Origination Training

    As a loan officer there are numerous things you will need to know. A short list is:

    – How to fill out a 1003 loan application

    – How to lock the interest rate for a loan

    – How to read a rate sheet

    – How to price a loan so you make money

    – What disclosures need to be given to the borrowers

    – How to read and analysis a credit report

    – How to submit a file to the lender

    All these topics should be part of your loan origination training . The sad thing is that most mortgage companies do not offer very good training to their originators. So you might be forced to get your own training. In that case, we have an excellent loan originator training manual that will teach you everything you need to know and then some.

    Getting your training is not a hard process. But it will take a little time. The better trained you are, the more confidence you will have, and thus the more loans you will close.

    Once you become a loan originator, you will experience the freedom I live everyday: No boss, you choose the hours, you choose the days, you can work from home, and have unlimited income.

    But it starts with So You Want To Be A Mortgage Broker. Find out about the business and make sure this is something you want to do. Get info about your license as well. Then get your loan originator training, either from your own company or from ours.

    After you are done training, it is time to start marketing. There are many great mortgage marketing programs available that can help you get clients. has several you should check out.

    Mortgage broker training

    Mortgage broker training