Mortgage and finance broking courses

The FNS40821 Certificate IV in Finance and Mortgage Broking is the current Certificate IV qualification designed specifically for finance and mortgage broking.

The MFAA currently identifies FNS40821 as the minimum qualification for Finance Broker membership, and members who join with the Certificate IV are required to complete the Diploma within 12 months to renew their membership.

For anyone planning a long-term career in broking, completing both the Certificate IV and the FNS50322 Diploma of Finance and Mortgage Broking Management provides a strong educational pathway.

That depends on what you mean by "become a mortgage broker".

The Certificate IV in Finance and Mortgage Broking (FNS40821) provides an important educational foundation and is currently recognised by the MFAA as the minimum qualification for Finance Broker membership. The qualification on its own does not give you a credit licence or the authorisation to provide credit assistance.

You also need to consider the licensing, credit representative, aggregator, mentoring and compliance requirements that apply to the way you intend to operate. Because the MFAA requires members who join with a Certificate IV to complete the Diploma within 12 months, most students planning a career in broking work through the Certificate IV and Diploma pathway rather than stopping at the entry-level qualification.

Completion time varies with the qualification, the training provider, the study method and your own circumstances. Our courses are online, self-paced and fully supported, and students have 12 months to complete, usually finishing well before that.

Factors that affect how long it takes include:

• Previous knowledge and experience
• Recognition of Prior Learning (RPL)
• Credit transfers
• The amount of time you have available to study
• Assessment requirements
• Practical experience
• Your preferred learning pace

If you are working while you study, an online self-paced course gives you far more flexibility than a classroom-based program.

Yes. Our mortgage broking courses are delivered online only, which suits people who are working or have family commitments. You work through your learning materials and assessments in your own time, with support from our education team throughout.

IIT (International Institute of Technology) is an RTO (Registered Training Organisation), so you are enrolling into a nationally recognised qualification with an approved and accredited provider.

FNS40821 Certificate IV in Finance and Mortgage Broking is the current nationally recognised Certificate IV qualification covering finance and mortgage broking, and the national training register lists it as the current qualification.

It is designed for people working in finance and mortgage broking roles and covers the knowledge and skills relevant to mortgage and finance broking activities. If you are searching for a mortgage broker course, a mortgage broking course online or a Certificate IV in mortgage broking, FNS40821 is the qualification to look for.

See the full FNS40821 Certificate IV in Finance and Mortgage Broking course page for units, fees and enrolment.

That depends on the pathway and the industry association involved. The MFAA currently allows Finance Broker membership with the Certificate IV, but members who enter with the Certificate IV must complete the Diploma within 12 months to renew their membership.

See the full FNS50322 Diploma of Finance and Mortgage Broking Management course page for units, fees and enrolment.

We pride ourselves on delivering the current nationally recognised qualifications with quality learning resources, real assessment support and a delivery model that suits your circumstances. Our courses are regularly validated by industry experts, and thousands of our graduates have gone on to own their own franchise or hold their own mortgage broking licence.

You can begin your education without any previous mortgage broking experience. Once you join an aggregator or a privately owned mortgage broking firm, practical industry experience and mentoring will be given, and that professional support is an important part of entering the industry.

Mortgage broking can provide opportunities for career development, client relationships and business ownership. Success depends on your skills, experience, compliance, business development and your ability to build and maintain a client base.

The current qualifications are FNS40821 Certificate IV in Finance and Mortgage Broking and FNS50322 Diploma of Finance and Mortgage Broking Management. The Certificate IV is the entry-level qualification for finance and mortgage broking roles. The Diploma develops higher-level knowledge and skills and reflects management roles, where individuals may work independently, through an aggregator, or manage a workplace team.

The two qualifications are best viewed as parts of one mortgage broker career pathway.

The biggest difference is the level and the purpose of each qualification.

FNS40821 develops the foundational knowledge and skills required for finance and mortgage broking roles, so it is particularly relevant to people entering the industry or building their initial professional skills.

FNS50322 is a higher-level qualification built around more advanced finance and mortgage broking work. The national training register describes the Diploma as reflecting management roles in finance and mortgage broking, where individuals may work independently, through an aggregator, or manage a workplace team. The Diploma contains 15 units, 10 core units and 5 electives, subject to the qualification's packaging rules.

If you are completely new to mortgage broking, the FNS40821 Certificate IV is the logical place to start. Once you complete the Certificate IV module, 7 units of competency are credit transferred to the Diploma, which makes it the most efficient pathway to the Diploma.

For that reason we recommend the bundle, which includes the FNS40821 Certificate IV in Finance and Mortgage Broking and the FNS50322 Diploma upgrade. You receive the Certificate IV once you finish that module, then the Diploma qualification once you finish the Diploma module. It is your best opportunity to advise on all loans, not just residential loans, and it meets the MFAA membership requirements.

You can enrol directly into the FNS50322 Diploma of Finance and Mortgage Broking Management, however you still have to complete 90% of the Certificate IV assessments, so it makes sense to complete that final assessment and receive both qualifications. The fee is the same whether you complete the full Diploma or the bundle with the separate Certificate IV qualification.

Yes. If you have already completed your Certificate IV in Finance and Mortgage Broking through IIT (International Institute of Technology) or another accredited provider, we will perform a credit transfer and let you know which units of competency can be applied towards the FNS50322 Diploma of Finance and Mortgage Broking Management. Send your statement of attainment or USI transcript to education@iit.edu.au and we will check it for you.

Credit transfers are also available from the older Certificate IV in Finance and Mortgage Broking qualifications (FNS40815 and its predecessors, FNS40820 and FNS40821) into the latest Diploma upgrade.

Mortgage broking can be an attractive career for people who enjoy:

• Working with people
• Finance and lending
• Problem-solving
• Helping clients achieve financial goals
• Building professional relationships
• Working independently
• Developing a business
• Flexible working arrangements

Mortgage brokers can work in established broking businesses, under aggregators and licensees, or develop their own business subject to the relevant licensing and regulatory requirements. The industry also provides opportunities to move into areas such as commercial finance, asset finance, business lending and specialist lending.

There is no single mortgage broker salary. Income varies considerably depending on whether a broker is employed or self-employed, whether they operate under a licensee, the volume and type of loans written, commission structures, trail income arrangements, business expenses and experience. Brokers running their own business have a different income structure again from salaried employees, so be cautious about any claim of guaranteed earnings or specific income figures.

The potential for career progression and business development is one reason mortgage broking appeals to people looking for a career in financial services.

The Mortgage and Finance Association of Australia (MFAA) is one of Australia's major industry associations for mortgage and finance professionals, and it identifies FNS40821 Certificate IV in Finance and Mortgage Broking and FNS50322 Diploma of Finance and Mortgage Broking Management as the current qualifications for its Finance Broker pathway.

Membership also involves requirements beyond education. These can include compliance requirements, professional indemnity insurance, AFCA membership, credit and criminal history checks and, where applicable, mentoring. New members must complete the MFAA's Compliance Essentials course, and ongoing CPD requirements apply.

At a minimum, anyone entering the industry should complete a current, nationally recognised qualification appropriate to their intended role. For mortgage and finance broking those qualifications are FNS40821 Certificate IV in Finance and Mortgage Broking and FNS50322 Diploma of Finance and Mortgage Broking Management.

Requirements extend beyond formal qualifications. Depending on how you operate, you may work under your own Australian Credit Licence or as a credit representative of a licensee, often through an aggregator. Two years of mentoring under an aggregator or a privately owned credit licence is required before you can apply for your own credit licence.

Requirements can change, so always check current information with the relevant regulator, the industry association and your prospective licensee or aggregator before you commence credit activities.