Submit your financial statements to the state. Your net worth must be at least $35,000.5.
Nevertheless, it is practicable for private community to force into bag to supply many of the duplicate services that banks accept if for senescence.
Instructions
Mortgage Broker and Loan Originator Requirements
1. Fee a $1,500 non-refundable inquiry cost. The controversy is needed to boast out if the applicant has been involved in any fraudulent activity in the past.
2. Write a check to the state for $1,200 for your license fee. This fee is non-refundable.
3. Produce a Surety Bond to the state in the amount of at least $20,000. This contract is your promise to the state to be legal in your practices. The cash amount is your compensation in the event of any damages.
4.Alpha a Finance GatheringWhen you Stare at finance companies, banks easily come to brain. Banks, immense or petite, keep always been the institutions looked to in grouping to finance such matters as homes or a latest incident.
Pay your loan originator application fee to the state in the amount of $125.
6. Fill your continuing education requirement of at least six hours. The continuing education courses are on residential mortgage finance.
7. Take courses at a native college or university to receive a better understanding of finance before you enter into business.
Life Insurance Broker Requirements
8. Fill out your Life Insurance Broker application and submit to the state.
9. Fulfill your required 40 hours of pre-licensing education at an institution approved by the state.
10. Take and pass the state exam. Your license is good for two years. Ultimate of your term, you must retake the test again.
Build Your Office
11. Get your business license from your city or state before acquiring any space for your office.
12. Find a storefront or office space to make your offices.
13. Buy computers, fax machines and other electronic equipment to help organize your business.
14. Hire staff for your office based on need.
