How to become a mortgage broker in Florida

How to become a mortgage broker in Florida: earning potential

The average salary for a mortgage broker in Florida is roughly $100,000 per year, or $48.08 per hour, according to Talent.com. Entry level mortgage brokers in Florida make about $75,000 per year, while more experienced mortgage brokers in the state can make upwards of $145,000 per year.

Jacksonville has the highest average salary for a mortgage broker, at $100,000. Fort Lauderdale is second at $97,500 and Tampa is considerably lower at $68,000. The average salary for a mortgage broker in Miami is $60,000.

How to become a mortgage broker in Florida: licensing requirements

Does a mortgage broker need a license in Florida? The answer is, yes. Chapter 494, Florida Statutes, states the following: “a license is required for an entity conducting loan originator activities through one or more licensed loan originators employed by the mortgage broker or as independent contractors to the mortgage broker.”

How to become a mortgage broker in Florida: closing thoughts

Mortgage brokers are essential to the mortgage industry, in Florida as elsewhere. They help families and business owners along their way to purchasing the property that will make their dreams come true. When determining how to become a mortgage broker in Florida, you may run into challenges in the application process. However, there are also many perks and benefits once you are licensed.