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Today: 22.01.2018 - 14:18:13
   Canada Mortgage Hub Discussion Board -> Mortgage Calgary -> Anyone a mortgage broker in Alberta, calgary?
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paragasn

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Anyone a mortgage broker in Alberta, calgary?
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Canada current mortgage rates
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rmystero

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Hi Bryce,I'm a Calgary mortgage broker with Mortgage Architects. If you want to get started working in mortgages in Calgary, the first step is to get licensed. 7 1/2 years ago when I took the course they offered it through Mount Royal College. It is now Mount Royal University, but I'll assume they continue to offer the mortgage course. Things you need to know:- Your pay will be 100% commissions based, so you will only make money if you place mortgages- You don't get paid when you create a mortgage, you get paid shortly after your clients' mortgages close (eg. they move into the home they bought). Typically there is a couple months gap from when you initially work with clients to when you get paid.- The mortgage business is a very high failure rate, I've heard somewhere around 90% after the first year exit the business, so be prepared financially for a slow first year especially since you won't receive any income typically for the first few months after you start, even if you have clients right away. Determination and going at it full-time is the key.- Your MAIN duty is basically marketing yourself. After all if nobody is calling you, you will not have other duties. Other duties will be evaluating clients to see where/if they qualify, credit counseling for those that do not, working with different lenders to try get approvals, satisfying lender's conditions on deals, LOTS of paperwork so organization is key, and learning - keeping up to date with the constant regulatory and qualifying changes between various lenders and governing bodies. If this sounds like it's for you, go for it! Good luck,Pete.Calgary Mortgage BrokerMortgage Architects_http://www.mortgagePETE.ca
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