Do you live in British Columbia and are you considering a future career as amortgage broker? With some of the most expensive properties in the country, British Columbias real estate market is a great industry to work in. As amortgage broker in British Columbia, you will be responsible for helping clients finance their homes and other real estate properties. You should have a natural interest in finance and mortgage contracts, as you will be responsible for finding thebest mortgage ratesin British Columbia. And although this job takes a lot of motivation and self-discipline, your income is often based on your level of commitment and you can eventually become your own boss.
Find and connect with a mortgage broker in your area. Mortgage brokers help Canadians find the best mortgage rates.
To become a registered mortgage broker in British Columbia, you must:
complete theMortgage Brokerage in British Columbiacourse at the University of British Columbia (UBC) Saunders School of Business,
submit your registration to the Financial Institutions Commission (FICOM) for your license ($1,000 fee).
British Columbia Mortgage Broker Education and Licensing
While there are no prerequisites for becoming a mortgage broker, your first step into this industry is to enroll yourself into the Mortgage Brokerage in British Columbia course ($1,075) administered at the University of British Columbia (UBC) Saunders School of Business. This course will provide you with the minimum educational requirements outlined by the Financial Institutions Commission (FICOM). There are no formal requirements to enroll into this course, but it does have a language proficiency requirement. If you have graduated from a Canadian high school, you automatically meet this requirements. You have one year to complete this course and pass the exam, after which you have another year to register your license with FICOM. As this leaves you with a sub-mortgage broker license, this is just the first step in becoming a mortgage broker.
After you have worked as a sub-mortgage broker for at least six months, you are eligible to begin the second step in becoming a registered mortgage broker in British Columbia. You will first have to enroll yourself into theBrokers Business Planning and Financial Management Licensing Course($1,075) at UBC. This course is designed for people who want to own a licensed brokerage, or be a managing broker or associate broker at their current brokerage. You have one year to complete the course and pass the exam, after which you have another year to register your license. However, its important to note that while you may finish this course before you have two years of work experience as a sub-mortgage broker, you cannot register for your broker license until you have completed that additional requirement.
Although this is the traditional educational route, if you believe your past work experience and education is equivalent to British Columbias standards, you may be approved to apply for your broker license without first working as a sub-mortgage broker. This application would be submitted to theReal Estate Council of British Columbia.
Your Career as a British Columbia Mortgage Broker
The process of becoming amortgage broker in British Columbiais a bit tougher than other provinces in Canada, as it enforces strong education and work experience standards. If you have the determination and drive to become a mortgage broker in British Columbia, you will not be disappointed with your career path. After completing all the requirements, you will be able to use your newly acquired skills to both help clients finance their homes and grow yourself professionally.
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