California is one of the states where the most active mortgage brokers are usually found. This is because this state is very appealing to most homeowners because of its location, composition and year – round weather. Many people want to move here but they are often hindered by the high prices of the available estates.

That is why various lending companies have capitalized on the opportunity of getting big deals and with it comes mortgage brokers.

Although many mortgage brokers want to be located in California where it is both very enjoyable and very productive to work, the state requires a license before a mortgage broker can operate.

The problem is the state of California does not usually issue a specific mortgage broker license. Mortgage brokers can apply in other states but they will be useless because licenses are usually exclusive to the state where they are acquired.

So, how does one become a California mortgage broker?

Fortunately, two options are available for those who want to operate in this state. The first option is to apply for a California Finance Lender License under the California Finance Lenders Law of the Department of Corporations while the other one is to get a license under the California Department of Real Estate.

Getting a California Finance Lender License requires no training or exam but it obliges the applicant to maintain a surety bond in the amount of $25,000. Aside from that, the applicant needs to pay $200 for application and $100 for investigation fees.

The other option is much stricter. It requires the broker to maintain a physical office in the state. The applicant must own credits for two college courses and two years of experience in both real estate and mortgage.

Aside from that, the applicant must pass an exam as well and be able to attend 45 hours of continuous education after receiving the license. To top it all, the applicant must pay $230 in licensing and fingerprint fees.

Once the applicant receives a license under any of these two options, he or she is now a certified California mortgage broker.