Australia's mortgage industry processes $500B+ in loans annually. Without ASIC RG 146 compliance, you can't legally operate as a broker—no matter your experience.
FNS40821 is your mandatory gateway. But with 50+ RTOs, wildly different fees ($995-$2,500), and hidden licensing costs, choosing wrong could cost you months and thousands.
Months to complete
Tuition fees
Core units
Annual income
Course fees are just the start. Factor in police checks ($42-$87), ASIC ACL application ($2,000-$3,000), professional indemnity insurance ($1,500-$2,500 annually), and aggregator setup fees. Total first-year cost: $5,000-$8,000.
See Full Cost BreakdownFNS40821 Certificate IV in Finance and Mortgage Broking is Australia's mandatory qualification for mortgage brokers. It meets ASIC RG 206 minimum education standards—without it, you cannot legally provide credit assistance or hold an Australian Credit Licence (ACL).
The course covers 12 core units across 600 nominal hours: loan application preparation, client needs analysis, regulatory compliance, dispute resolution, and professional practices. You'll learn the technical skills (credit assessment, loan structuring) and compliance knowledge (National Credit Code, responsible lending) required for ASIC licensing.
Most brokers complete FNS40821 in 6-12 months via online study while working. Upon graduation, you can apply for ASIC licensing as a credit representative (working under an aggregator's ACL) or pursue your own ACL to operate independently.
FNS40821 graduates enter a $500B+ industry with strong demand. Brokers now process 60% of all Australian home loans, up from 45% a decade ago. Career paths include:
Confirm eligibility: age, literacy, police checks
Calculate total investment including hidden fees
Compare 50+ RTOs on price, support, and outcomes
Explore all 12 core units and assessments
Understand ASIC ACL process and aggregator options
Get answers to 20+ common questions
Explore earning potential and commission structures
Compare study modes and find your best fit