Can you become a mortgage loan officer with a bad credit? How much is the salary for a newby?
Hubby wants to change career and try to be a mortgage loan officer. Has been doing finance/accounting for 20 years. His credit is pretty bad, and I think they check his credit as part of the licensing process, right? Can he become a loan officer with a bad credit?
Also, what is the amount he will be making as a brand new loan officer? He has been making 6 figure income, but it's hard for us financially if he has to take a huge paycut. Thank you for your help.
- EvaLv 71 month agoFavourite answer
His credit will be checked. Anyone employed in the banking industry is considered to be high risk if their credit is bad. A new loan officer will not make a six figure salary. Depending on where you live, he might be lucky to make 60k his first year.
- Anonymous1 month ago
I cannot imagine any occupation where they spend to check credit not caring about bad credit. Or are you saying the state checks it?
- SlickterpLv 71 month ago
Probably pretty tough. Hard to take financial advice from someone who can't keep their own financial life straight.