New to Real Estate · HI · Member since 2024 · 13 posts · 10 votes
Hey BP fam — I’m looking for some guidance and potential mentorship as I pursue a path into mortgage lending. I’m currently based on Oʻahu and work full-time, but I’m looking to start part-time in a Junior Loan Officer role while I work toward my NMLS license.
My ultimate goal is to serve investors and homebuyers here in Hawaii and continue growing in the real estate space. If anyone here is:
A lender open to mentoring
Part of a brokerage that trains new LOs
Knows a company (local or national) that supports newbies
I’d be extremely grateful for any direction, recommendations, or connections.
I’m hungry to learn, already active in real estate, and ready to put in the work. Mahalo in advance for any help you can throw my way!
Banker · Nationwide · Member since 2020 · 2k+ posts · 1k+ votes
11mo
Brant,
Have you thought about getting your real estate license versus being a loan officer? Before you can start in lending you either need to get your Loan officer license or join an FDIC bank. Most lenders require you to already have a license unless you hire on as a processor/LP.
Loan officers also do not make more commission than realtors they are on an LO comp plan. Usually the lender pays you .75bps to 1.25% bps as commission based on the loan amount after down payment. Some lenders may offer a higher commission but that means you will have to sell much higher rates. Rates are tied to loan officer commissions so the higher you get paid the higher the rate you have to sell.
New to Real Estate · HI · Member since 2024 · 13 posts · 10 votes
11mo
@Jason Wray thanks for the response. Yes, I have been weighing both options. Due to my time limitations, I went with LO mentally. I work a full time job and my wife runs a business so a lot of my time is either at work or at home watching kids.