How to become a mortgage loan agent in India

A mortgage loan agent is the first person of contact that assists borrowers in picking loan products and helping them with the loan application and sanction processes. Lending institutions like banks and NBFCs and loan agents work together for mutual benefits. While loan agents sell or distribute loan products in the name of the loan facilitators and increase their number of clients, lending institutions pay them commission fees in exchange for their services. 

What is the main role of a mortgage loan agent?

  • Process housing loan applications smoothly: The primary duty of a mortgage loan agent is to streamline the housing loan application and sanction processes. 
  • Resolve customer queries: A mortgage loan agent constantly communicates with the customers and guides them through the process, resolving their doubts at every step.
  • Verify documents: They are also responsible for running background checks, verifying KYC documents, and ensuring that every document is recorded and processed on time.
  • Spread awareness on the latest housing loan schemes: Since mortgage loan agents also offer advice on money management tips and how to plan when taking a housing loan, they are seen as a trusted source of information dissemination. Customers also connect with a mortgage loan agent near them for help with calculating monthly settlements using a home loan EMI calculator and choosing the best loan product suited to their needs. 

Eligibility criteria to work as a mortgage loan agent

  • Must be an Indian citizen: If you want to work as a mortgage loan agent anywhere in the country, you must be an Indian citizen. 
  • Must be above 18 years of age: You must be over 18 years of age to work as a mortgage loan agent. 
  • Could be from any industry: Since you do not need professional degrees to work as a mortgage loan agent, you can transition from any industry. 
    • Excellent credit history: To work as a DSA agent, you must ensure that you have paid your dues on time. Though optional, a good CIBIL score will make your profile stand out. 
    • Well-versed in housing loan products: You must have a thorough knowledge of existing and upcoming housing loan schemes to position these products in front of customers. More so, loan distributors like Andromeda Loans offer on-job training modules that will teach you about loan products and help you polish your communication and negotiation skills. 
  • Beneficial to have an existing pool of clients: If you have been working in the finance sphere for a while, you will have access to a pool of significant contacts, who are tax advisors or chartered accountants. You will find it easier to adapt to the role of a DSA loan agent, simplifying the legal jargon, and you will also have a ready audience to pitch loan products to. 

How to become a mortgage loan agent in India

To become a mortgage loan agent, follow the steps:


  • Visit the official website: Head to the official website of the lending institution you want to partner with. Look for their ‘loan partner’ option. 
  • Register as a DSA loan partner: Once you click on the ‘loan partner’ option, a registration form will appear. Fill in the form with all your basic details, submit all the necessary documents, and pay a nominal registration fee. 
  • Undergo verification: If your profile is shortlisted, the loan distributors will review your credit score, verify your KYC documents, and may call you for an interview. 
  • Sign the DSA agreement: If your profile is accepted, you will receive a DSA agreement from the lenders. It is a written contract that protects the interest of both parties and specifies the terms and conditions. Once you sign it, you will be formally inducted into the organization and can begin your work as a loan DSA agent. 

Documents required to work as a mortgage loan agent

  • Identity proof like Voter ID, PAN card, Aadhar card
  • Address proof like utility bills, passport, driving license
  • Income tax documents like Form 16
  • At least three months of bank transaction details
  • 2 to 3 passport-sized photographs
  • GSTIN details, if you have any
  • Completed mortgage ‘loan partner’ registration form from the loan distributor’s website 

Benefits of working as a mortgage loan agent

  • No income limit: There is no limit to the amount of money you can earn in a month as a loan DSA agent. Your commission will depend on the number of loan products you can sell in a month. 

  • Flexible working conditions: A loan DSA agent does not have to clock into the physical branch of their institution at any particular hour. Their primary responsibility is to set up meetings with clients and assist them with their housing loan applications. 

  • Get training from industry experts: You will not only polish your communication and negotiation skills while working as a DSA agent for Andromeda Loans, but you will also get training and tips from industry experts. Andromeda Loans has tie-ups with over 70 reliable lending institutions throughout the country. The kind of connections you will make while working here will be second to none. 

  • Minimum investment required: You do not have to invest a hefty sum of money or get any professional degree to begin working as a DSA loan agent. It is ideal for individuals, who are looking to jump-start their careers after a short break. 

Signing off

Customers reach out to mortgage loan agents because they help move things along faster. To succeed as a mortgage loan agent, you need to adopt a people-first attitude. You have to protect both, your clients’ and lending institutions’ interests at the same time.  If you are looking for a mortgage loan agent nearby, reach out to Andromeda Loans. They are one of the biggest loan facilitators in the country, having tie-ups with over 70 reliable lending institutions in the country.