A Career as a Mortgage Broker in Canada

If you want to have a career as a real estate agent in Canada, this article should help you understand what it takes.

Qualifications

To become a mortgage broker, good educational background and experience are requirements needed. This may include:

#1. A high school diploma

#2. A good educational background in financing

#3. A good background in sales, marketing or even banking.

#4. Information about various lending institutions and their lending rates and terms

#5. Experience in credit reporting

#6. A proficiency in mathematics

#7. Good verbal and writing skills

Personal Skills

A good mortgage broker is expected to have a pleasant personality, a friendly demeanor and a passion for the job. Mortgage brokers should be able to easily explain financial concepts and provide their clients with information on how a mortgage works and how their clients can improve their credit for better mortgage rates.

The job of a mortgage broker requires long hours of work and days of searching for a lender who is willing to work with the potential borrower; this requires a lot of patience.

Most people have jobs and other obligations which they do during the day, so they may decide work on their mortgage during their free time which is at nights and weekends. Mortgage brokers should be easily accessible and readily available to accommodate their customers’ schedules. Many mortgage brokers adapt faster by becoming specialists in in loan modification.