How to become a loan officer in Georgia (2024)

Due to its compensation and other benefits, many people in the United States want to make a living out of the mortgage loan officer profession. In Georgia, the competition grows tighter, but some loan officers are still thriving in the industry.

Despite a tough mortgage market in this state, working as a loan officer is still considered promising because of its unlimited earning potential and career growth opportunities. So, the question is: how do you become a mortgage loan officer in Georgia?

In this article, Mortgage Professional America will talk about the steps to becoming a mortgage loan officer in this state. We will also explore how much they earn and compare it with mortgage agents.

What are the steps on how to become a mortgage loan officer in Georgia?

Becoming a mortgage loan officer in Georgia requires getting a license and taking examinations—the same as other regions in the US. Let’s take a quick look at the six steps on how to become a mortgage loan officer in this state:

1. request a Nationwide Multistate Licensing System & Registry (NMLS) account
2. finish NMLS-approved pre-licensure education
3. pass Secure and Fair Enforcement Act (SAFE) mortgage loan officer test
4. have the state and Federal Bureau of Investigation (FBI) run criminal background checks
5. finish NMLS application
6. get employer sponsorship

For better understanding, we will dive deeper into each requirement on how to become a mortgage loan officer in Georgia:

1. Request an NMLS account

The first step is to request an account with the NMLS. This system is used not only in Georgia but across the country to register and track mortgage loan officers. Pass the Georgia Mortgage Loan Officer exam administered by the NMLS. This will test the applicant’s knowledge about the mortgage lending practices, regulations, and ethics.

Next, submit a license application through the NMLS Consumer Access portal. This will involve providing the following details:

• personal information
• employment history
• background check

As for the payment, you would need to pay these applicable licensing fees:

• application fee
• credit report fee
• first-year licensing fee

2. Finish NMLS-approved pre-licensure education

For the second step, you will need to complete a pre-licensure education program approved by the NMLS. This training will teach you what you need to know to be a successful mortgage loan officer in the country.

In the NMLS pre-licensure education program, you will learn about:

• mortgage practices and ethics
• state and federal regulations
• mortgage laws and rules as per the Official Code of Georgia Annotated (OCGA)

It is of utmost importance that you finish the required pre-licensing education courses approved by the Georgia Department of Banking and Finance (DBF). This typically involves 20 hours of educational program.

Read our guide on the basics of loan officer training to help you prepare for the course.

3. Pass Secure and Fair Enforcement Act (SAFE) mortgage loan officer test

After completing the pre-licensure education program approved by the NMLS, the next step is to finish and pass the SAFE Mortgage Loan Officer Test. The purpose of this test is to check whether you fully learned everything from your pre-licensure education.

The SAFE test will also let you know if you have properly understood the course. Your readiness to work as a mortgage loan officer will also be examined. The test is a requirement under the SAFE Act legislation which sets standards for the registration and licensing of loan officers.

4. Have the state and Federal Bureau of Investigation (FBI) run criminal background checks

The next step is to allow the state of Georgia and the FBI to run criminal background checks on you. They want to guarantee that you have a clear record and that you have no criminal history.

If proven otherwise, you might face some difficulties in your endeavor or even end up getting rejected to work as a mortgage loan officer.

5. Finish NMLS application

After finishing the other steps above, you must complete your NMLS application once and for all. What this does for you is that it collects all essential details and qualifications in one place. In turn, you will be licensed to work officially as a mortgage loan officer in Georgia.

6. Get employer sponsorship

After finishing the courses, passing the exam, and getting your license, you are now ready for employer sponsorship. Mortgage loan officers are employed by banks or mortgage lenders. These financial institutions will assist you with completing the application process.

Eventually, they will also hire you as a loan officer whose main task is to present the employer-lender's products and services to potential borrowers.

How much do mortgage loan officers make in Georgia?

According to Talent.com, the average income of a mortgage loan officer in Georgia is $77,981 annually. For starters, the entry level positions start at around $42,800 per year. As for the most experienced mortgage loan officers in the state, they can have an annual income of $150,000.

To prove that mortgage loan officers can earn more than the usual if they work hard, watch this video about how a loan officer closed his first $1 million deal:

Here’s a guide on how to become a mortgage loan officer in 10 steps, whether you’re in Georgia or in another state.

Loan officers versus mortgage agents

Loan officers share many similarities with mortgage agents. This is especially true when it comes to offering home loans and meeting eligible home buyers. Both professions deal with helping potential borrowers in securing a mortgage loan with a bank or lender.

The only difference is that mortgage agents can choose to work without being under the employment of a particular bank or lender. On the other hand, loan officers represent the company that they belong to. To talk to a loan officer, clients can:

• go to their chosen bank or lender’s physical branch
• contact the bank or lender through their phone number
• communicate with the bank or lender online

Loan officers are also focused on offering the products and services of their employer-lender. Mortgage agents, meanwhile, can partner with numerous lenders.

All in all, one can gain much wisdom from the experience of both seasoned loan officers and brokers. If you are bent on knowing more about how to become a loan officer in Georgia, our Best in Mortgage section might help. Learn about the mortgage professionals highlighted in our reports as well as their profiles and experience.

Our reports also include the best mortgage agents not just in Georgia but across the US. This can give you a clearer picture of what it takes to be successful in the mortgage industry. Seeing how the best brokers work and what they have achieved can help inspire and guide you in this profession.

How long does it take to become a mortgage loan officer in Georgia?

It depends on the aspiring mortgage loan officer’s eagerness to complete all the requirements. However, it can also be based on the processes of certain institutions involved.

For instance, being hired by a bank or mortgage lender is part of becoming a loan officer in Georgia. This means that the timeframe and decision for getting sponsored depends solely on the lender. It is also possible to delay the hiring process if the applicant is rejected.

To avoid unwanted delays, make sure that you meet the eligibility criteria that banks and lenders set when hiring loan officers.

Once you become a mortgage loan officer in Georgia, what now? Know what to do in your first seven days as a new loan officer in this video:

Read this article for more on the duties of a loan officer.

Starting your journey as a mortgage loan officer in Georgia

Starting your journey as a mortgage loan officer in Georgia is not guaranteed to be a cakewalk. It requires hard work and determination. You should also be prepared to exert more effort when you are still starting out.

Working as a mortgage loan officer in Georgia is a rewarding profession indeed. But just like any other job, slacking off will not help you reach your expected outcome. Once you gain traction during the early phases of your career, try to maintain it by doing more and being always eager to learn.

In the end, your efforts will pay off and you will reap the rewards of your hard work. As the saying goes, the best view often comes after the hardest climb.

Check out these other guides on starting your journey as a mortgage loan officer in these states:

• California
• Texas

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