Training and courses for mortgage professionals
United States
- NMLS-approved pre-licensing education (SAFE Act) — to become a licensed Mortgage Loan Originator in the US, you generally complete 20 hours of NMLS-approved pre-licensing education, pass the SAFE MLO test, and meet state requirements. Start at the Nationwide Multistate Licensing System. NMLS Consumer Access →
- Mortgage Bankers Association (MBA) Education — courses and designations for US mortgage professionals, from origination to servicing. Mortgage Bankers Association →
Canada
- REMIC — Mortgage Agent Level 1 (Ontario) — FSRA-approved course for Ontario mortgage agent licensing, with online, webcast and in-class formats. REMIC Mortgage Agent Course →
- Mortgage Professionals Canada — AMPC designation — the Accredited Mortgage Professional of Canada program: four courses plus examinations, for licensed professionals. AMPC designation →
Major loan programs
United States
- FHA loans — government-insured loans with a 3.5% minimum down payment for qualifying buyers, popular with first-time buyers. US Department of Housing and Urban Development (HUD) →
- VA loans — for eligible veterans, active-duty service members and surviving spouses; no down payment requirement for qualifying borrowers. US Department of Veterans Affairs →
- USDA loans — for eligible rural and suburban homebuyers, with no down payment requirement in qualifying areas. US Department of Agriculture →
- Conventional loans — loans not insured by the government, typically following Fannie Mae and Freddie Mac guidelines; a 20% down payment avoids private mortgage insurance (PMI).
Canada
- Insured mortgages (CMHC and equivalents) — mortgage default insurance is required when the down payment is under 20%. Minimum down payment: 5% on the first $500,000 and 10% on the portion above, with 20% required at $1,500,000 and above. Canada Mortgage and Housing Corporation (CMHC) →
- First Home Savings Account (FHSA) — a registered account for first-time homebuyers combining tax-deductible contributions with tax-free qualifying withdrawals. Financial Consumer Agency of Canada →
- Stress test (OSFI B-20) — borrowers at federally regulated lenders must qualify at the higher of their contract rate plus 2 percentage points or 5.25%, even though they pay at their contract rate.
Affiliate programs featured on this site
These links are temporary and will be replaced with the site owner’s affiliate links after program signup: Rocket Mortgage, SoFi, LendingTree and Better (US), plus Ratehub for Canadian rate comparison. See the Affiliate Disclosure.
Program terms, eligibility and availability change. Always confirm current details on the program’s official site.