One of 2024's 'greatest jobs' can pay over 0,000 and let you work remotely without a college degree

You can earn upward of $200,000 working from the consolation of your individual house — no bachelor’s degree required — if you’re keen to crunch some numbers.

Loan officers claimed the No. 2 spot in Indeed’s annual ranking of the “best jobs” within the U.S., because of its excessive incomes potential and rising demand for these expert professionals throughout a number of industries. 

The pay is nice: The common wage for mortgage officers is $192,339, per Indeed’s analysis. Positions additionally have a tendency to supply a lot of office flexibility. At least 75% of the listings for mortgage officers on Indeed’s database have distant or hybrid choices.

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Loan officers help folks and companies within the course of of making use of for loans, evaluating monetary paperwork and serving to debtors full their purposes.

The demand for these companies has grown in current months, as industries like actual property, schooling, retail and e-commerce really feel the squeeze of inflation and a tighter housing market, says Scott Dobroski, vice chairman of world company communications at Indeed.

Banks might be tightening up their lending standards as a result of of recession fears, however the demand for mortgages stays excessive. “The want for loans will all the time be there, even when it ebbs and flows a bit,” provides Dobroski.

How to qualify for the job

You can turn out to be a mortgage officer without a bachelor’s degree. 

The necessities for turning into a mortgage officer fluctuate from state to state, however typically, the method consists of the next steps: 

  • Register with the Nationwide Multistate Licensing System and Registry (NMLS)
  • Take pre-licensure programs on federal legislation and laws, lending requirements and ethics
  • Pass a state or nationwide license check
  • Find an employer to sponsor your license

To turn out to be a mortgage officer, you should be at the very least 18 years outdated and have a highschool diploma or GED, Indeed reviews. Before you can work as a training mortgage officer, you’ll want to seek out an employer, like a financial institution or credit score union, to rent you and sponsor your license. 

After you full the pre-licensure programs, most corporations are keen to rent you as a mortgage officer “in coaching” to help varied features of the mortgage lending course of without drafting or servicing loans straight, says Ciara Glover, a mortgage mortgage officer in Baton Rouge, Louisiana. 

The 37-year-old left her job as an educational coordinator at Louisiana State University in September to work as a full-time mortgage officer at Canvas Mortgage, a residential mortgage division of Merchants & Marine Bank. 

Glover first turned a mortgage officer seven years in the past as a facet hustle to make more money. She labored from house for an internet mortgage lender in her spare time. 

It solely took her about two months to complete the required coursework and discover an employer to sponsor her license earlier than she may begin working. 

“It’s one of essentially the most versatile jobs on the market,” says Glover. “You can suit your schedule round shopper conferences, and most employers are supportive of you working from house, in my expertise, that is been a widespread observe for mortgage officers even earlier than the pandemic.”

‘There’s no ceiling on how a lot you can earn’

Some mortgage officers are paid a flat wage or an hourly charge, whereas others earn a fee based mostly on gross sales along with their regular wage.

Most mortgage officers are paid between 0.2% and 2% of the entire mortgage quantity in fee, in response to Indeed. For instance: If a mortgage officer negotiates a 1% fee on a $500,000 mortgage, they might be paid $5,000 on that transaction alone.

“There’s a onerous restrict on what you can make in a lot of jobs, however for mortgage officers, there isn’t any ceiling on how a lot you can earn,” says Glover. “It’s the type of occupation the place you get no matter you put in — so if you work onerous, you’re taking a look at a good paycheck.”

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