How to become a loan officer in Texas

How much a loan officer makes depends on where they work. Some mortgage loan officers make a flat salary, while others make a salary plus commission. Typically, commissions are tallied according to Basis Points, or BPS, per loan. For instance, BPS could break down like this:

1 BPS = 1/100 of 1%

This means, for example, that at 25 BPS for a home loan of $200,000, you would make a commission of $500.

In Texas, you could make an average commission of between 100 and 150 BPS, even as a new mortgage loan officer. Generally, however, the more you prospect for your clients, the higher your commission will be. Put simply, your commission will likely be much higher if you work for a boutique agency or alone compared to working with large financial institutions like banks or credit unions.

According to Indeed.com, you could earn a commission of $20,400 as a mortgage loan officer in Texas.

No matter where you are applying to be a mortgage loan officer—Texas or elsewhere—you must register with the National Mortgage Licensing System and Registry (NMLS). You then must finish 20 hours of pre-licensure education courses and pass the NMLS mortgage license exam, among other requirements specific to your state.