Pre-licensure education to become a mortgage broker is provided by private training centers throughout New Jersey, but students can begin to prepare for licensing through several courses and programs offered through public postsecondary institutions. These schools, each featuring programs and courses focusing on real estate salesperson training, include two public community colleges and one 4-year public university. Basic requirements for admission include being 18 years old and having a high school diploma.
Bergen Community College
A public community college located in the suburb of Paramus, Bergen Community College was founded in 1965. Students can earn a Certificate of Achievement in Real Estate through a 15-credit program that includes an introductory business course, as well as courses covering the principles of real estate, zoning, planning and land use. Other topics in the program include New Jersey environmental regulations, real estate leasing and real estate financing.
Camden County College
The southern New Jersey town of Blackwood is home to Camden County College, a 2-year public community college originally purchased in 1967. The school offers real estate professional career programs through its continuing education division. The realities of real estate classes may be useful for prospective mortgage brokers. Other real estate courses available examine real estate sales staging for residential properties and general steps for home buying.
New Jersey City University
Opened in 1929, New Jersey City University (NJCU) is a public 4-year institution located about 13 miles southwest of New York City in the town of Jersey City. As part of the NJCU at Waterfront program offerings, students can complete a real estate salesperson licensing course. It covers Real Estate Commission regulations, agency principles and real estate math.
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Residential mortgage brokers in New Jersey are required to complete 20 hours of pre-licensure education approved by the Nationwide Mortgage Licensing System & Registry, four hours of which need to be specific to New Jersey. They also need to pass state and national SAFE examinations. Unfortunately, the following schools do not qualify graduates for licensure as a residential mortgage broker, but they do provide training in various areas of the real estate field.
School Comparison: At a Glance
|School Name||School Type and Setting||Mortgage Courses and Programs Offered||Undergraduate Tuition and Fees (2015-2016)|
|Bergen Community College||2-year, public; large suburb||Certificate of Achievement in Real Estate||$2,797.50 in-district; $4,995 out-of-district; $5,220 out-of-state*|
|Camden County College||2-year, public; large suburb|| Realities of Real Estate Seminar,
Purchasing Foreclosures and Sheriff Sales Seminar
|New Jersey City University||4-year, public; midsize city||Real Estate Salesperson Licensing Course||$400***|
Sources: *Bergen Community College, **Camden County College, ***New Jersey City University