Why Become a Mortgage Loan Originator?

Let's explore the exciting world of becoming a mortgage loan originator (MLO) and see if it is the perfect fit for you. This might be the start of something great for you professionally.

What Does a Mortgage Loan Originator Do?

Wondering what exactly a mortgage loan originator (MLO) does? We’ve got you covered. An MLO helps people like you secure a mortgage loan to buy or refinance a home. They gather financial info, guide clients through the process, and help determine if they’re eligible for a loan. It’s all about helping people make their homeownership dreams come true.

You might also hear the term “mortgage loan officer” or “loan officer.” The roles are basically the same, though MLOs typically work for banks, credit unions, and mortgage companies. In contrast, mortgage brokers work for a sponsoring broker and shop around to find the best mortgage rates from various lenders.

Whatever the title, it’s a job where you’ll be directly helping people build their future.

Why a Career as an MLO Could Be Perfect for You

Becoming an MLO has a lot of perks, and the good news is you don’t need a traditional degree to get started. Here’s why a career as a mortgage loan originator can be a great fit for you:

• Easy to Start: No degree required! You’ll just need to complete an NMLS-approved 20-hour pre-licensing course and, depending on your state, some additional education.
• Flexibility: Set your own hours! You’ll have the freedom to create a schedule that works for you and your lifestyle.
• Job Security: With so many people looking to buy or refinance homes, the demand for mortgage loan originators remains high.
• Competitive Salary: According to Indeed, the average base salary for an MLO is around $182,113 a year, plus commission (about $24K more annually).
• Commission: Your hard work pays off, and the opportunity to earn extra income through commissions is a huge benefit.
• Great Benefits: Many full-time MLO positions offer excellent benefits, such as healthcare, PTO, and a 401k.

Get Licensed and Start Your Career

At Aceable, we’re all about helping you succeed. You’ll complete a 20-hour pre-licensing course approved by the national licensing system. Some states may also require additional education specific to their guidelines.