| Like anything in the business world, things will always | | | | Where can I learn more? |
| come out better if you have a well thought out plan. | | | | The loan business is not about sales, it's about the |
| Included in such plan should be a statement of your | | | | details. Once you realize this you will not only have |
| goals, and target dates that you set for such goals. | | | | learned how to make money in the mortgage business |
| The best book I have ever seen on this topic of | | | | but also how to keep the money. The money is in the |
| setting your goals is Napoleon Hill's Think and Grow | | | | details. The first step is setting up your company and |
| Rich. This plan should also include a road map that | | | | obtaining your mortgage license. |
| shows you the way to your intended end result, | | | | So I mentioned there are 5 things to know. Simply put: |
| namely the opening of your mortgage company. The | | | | 1) you need to have mortgage knowledge, |
| questions that must be considered are: What do I need | | | | 2) you need to know how to obtain your mortgage |
| at a minimum to open my mortgage company? Are | | | | license, |
| there any temporary solutions that would allow me to | | | | 3) you need to have a plan for generating customers |
| get started sooner? What lenders to I need to | | | | who will come to you to get a loan, |
| become approved with so I can begin brokering loans? | | | | 4) you need to know how to offer your customers |
| What insurance do I need? What kind of state and | | | | the right mortgage product that meets the customer's |
| federal licensing will I be required to apply for and | | | | needs and |
| obtain? What loan software do I need to get? Do I | | | | 5) you need that entrepreneurial spirit to get out there |
| know enough regarding the origination of mortgage | | | | and start up your business today. |
| loans and qualifying borrowers for specific mortgage | | | | When starting your mortgage company, you will need |
| products? What about hiring my first employees? | | | | a road map to help you recognize the details. |