Is Mortgage Lending Right for You? What to Expect from MLO Jobs

At Aceable, we understand that a career in mortgage lending can seem like a path less traveled. If you're reading this, chances are you're considering a career as a mortgage professional and are looking for insights into what this career path entails. 

Let’s explore a few important factors to keep in mind as you make your decision. And if you decide to move forward, we at Aceable are here to guide you through every step of the way.

Why a Career in Mortgage Lending Could Be Right for You

Mortgage lending can be a financially rewarding career. According to the Bureau of Labor Statistics, the average annual wage for loan officers is $76,270. Many professionals in the field earn more, depending on their experience and compensation structure. While some mortgage professionals work on commission, offering higher earning potential, it can take a few years to reach your full income potential. But with the right commitment, the financial rewards are there.

Flexibility to Fit Your Life

One of the key benefits of a career in mortgage lending is the flexibility it can offer. While any career requires hard work, mortgage professionals often have more control over their schedules. Need to adjust your work hours to accommodate family commitments? You can start your day later. Want to take a vacation but don’t want to fall behind? With today’s technology, you can work from virtually anywhere. Just keep in mind that weekends are common during peak home-buying seasons.

Ideal for People-Oriented Individuals

At its core, mortgage lending is a people-focused career. You’ll be helping individuals and families navigate the complex process of homeownership. If you’re someone who enjoys connecting with others and guiding them toward their goals, this career could be a great fit for you. However, if the idea of talking to people outside of your inner circle doesn’t excite you, a career in mortgage lending may not be the right choice.

Technology Makes the Job Easier, Not Obsolete

While technology has certainly impacted many industries, mortgage professionals are still very much in demand. Although consumers can shop for loans online, they still prefer to work with someone who can answer their questions and guide them through the process. The Bureau of Labor Statistics even predicts a 3% growth in the number of mortgage professionals over the next decade. So, while technology is an aid, the need for knowledgeable professionals remains strong.

Time to Take the First Step

If you're considering a career in mortgage lending, you’ll likely need to complete pre-license education, pass an exam, and undergo a criminal and credit check. Aceable can help you with the educational and testing requirements. Our Mortgage Loan Originator Pre-License and Continuing Education courses are available for you. Designed by industry professionals for future mortgage professionals, these courses cover everything you need to succeed in today’s dynamic lending landscape.