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We try to anticipate questions you
might have about the mortgage brokering field and provide the answers here.
If you need additional information send e-mail to:
advantage8882@aol.com.
Q. What are the requirements for
becoming a licensed mortgage broker in Florida?
A. You must be at least 18
years of age (high school diploma or GED not required), complete
state-required, 24-hour pre-licensing course, and pass the exam with a score
of 75 or greater. Q. Do I have to be a Florida resident?
A. No
Q. What are the costs associated with taking the exam?
A. You must pay $200 for the exam and $23 for processing; that includes your
first license. Fingerprints must also be taken, and that fee varies per
county. The required 24-hour, pre-licensing tuition varies in price from
school to school.
Q. When does my application need to be turned into the state?
A. Your completed application (check front and back), accompanied by your
fingerprint card and a check for $223 MUST be received by the state on or
before the 15th of month PRIOR to the month you wish to take the exam. For
example, if you wish to take the exam in August you must have your completed
application (with check and fingerprint card) received by the state no later
than July 15.
Q. What happens if the 15th of the month falls on the weekend?
A. The Friday before the 15th of the month shall be used as the deadline.
Q. If I fail the exam the first time, what is the cost to re-take the exam?
A. There are no charges, provided you pass the exam within the 90-day time
period stamped on the examination form. Typically, the state will give you
three attempts. If you do not take or pass the exam within your 90-day
allotted period, a new application must be submitted along with another
$223.
Q. When and where is the state exam given?
A. The exam is normally held on the fourth Tuesday of every month, unless a
holiday prohibits. The state will assign you a test site closest to your
address. If you are residing (address given for application packet) out of
the State of Florida, you will be assigned the Ft. Lauderdale test site.
Q. After taking the exam, when will I be notified about my score?
A. Generally, official results will be sent by mail approximately 5 days or
so after your exam. If you like, you may check your status online at the
state website.
Q. How many questions are on the exam? How long do I have to complete the
exam?
A. There are 100 multiple choice test questions, 10 of which are
math-related. You will be given a total of 3 hours to complete the exam.
Q. Do you offer the 24 hour mortgage broker course online?
A. No, the state of Florida requires that each student take the class in
person and in a classroom setting.
Q. Do I need to be a licensed mortgage broker before I can take the
processing class?
A. No, the processing class is not a state required course and is open to
licensed or non-licensed individuals. We hope this has helped answer some of your questions, if you have further
questions please do not hesitate to call or e-mail the office where one of
our qualified staff members will be able to assist you.
Good luck in your mortgage brokering career . . .
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