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Salary and Benefits

Loan Consultant
$48K-$59K / yr. (est.)
$49K
$54,436 / year
$60K
Average base salary
The salary information provided is based on data collected from various reliable sources and may vary depending on individual qualifications and other factors.

About Loan Consultant

What does a Loan Consultant do?

As Loan Consultants, we manage all borrowers' information and evaluate the AUS finding to support their documents. We provide assistance to our borrowers, process the loan flow, and assist loan processors in delivering an optimal customer service level. We also conduct interviews with applicants to estimate closing dates and recommend appropriate corrective steps while administering their applications and ensure their safekeeping in paper and digital formal. We also approve or reject loan applications or submit the application to credit analysts for verification when required. We negotiate payment arrangements with delinquent loan clients while preparing delinquent loan reports and forwarding irreconcilable accounts for action.

Core tasks:

  • prepare loan applications for new mortgage loan applications
  • build and maintain a strong network with internal and external referral sources
  • analyze loan default risk and request additional information as necessary

Insights

How Many Years of Experience Do Professionals Need Before Becoming Loan Consultant?
On average, people work 5-7 years in other positions prior to becoming a Loan Consultant.
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Loan ConsultantHouston, TX - 8 months ago
I've been in a completely different field for 6 years. Hard to imagine transitioning to become a Loan Consultant now. 😩
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Loan ConsultantPhiladelphia, PA - 8 months ago
This infographic is spot on. It took me 6 years in various roles before I made it to Loan Consultant. One step at a time! 💪
How Long Do Loan Consultant Employees Typically Stay in Their Roles?
On average, Loan Consultants works in this position for 3-5 years across multiple employers.
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Bank TellerHouston, TX - 8 months ago
Ugh, here we go again! Loan Consultants complaining about everything. Get over it and focus on doing your job instead of getting defensive.
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Mortgage BrokerMiami, FL - 8 months ago
Can we please have an open discussion instead of resorting to these petty arguments? Loan Consultants play an important role, and their varying experiences should be acknowledged!
What Is the Job Hopper Score for Loan Consultant Employees?
Moderate job changes in Loan Consultant, showing some career movement without excessive turnover.
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Mortgage SpecialistHouston, TX - 8 months ago
I totally get why Loan Consultants switch jobs often. The market fluctuates so much that we need to adapt to new opportunities. Too bad stability is seen as a negative thing here. 😞
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Branch ManagerPhiladelphia, PA - 8 months ago
As a Bank Branch Manager, I urge Loan Consultants to be mindful of their job changes as it could impact their reputation and credibility with clients. Stability goes a long way in this industry! 😡

Career path

Path to job

Discover a Loan Consultant's areas of knowledge sorted by their majors.
Explore the list of higher education institutions that a Loan Consultant typically studied at.
Arizona State University-Tempe
California State University-Northridge

Path after job

Community

Demographics

What Is the Age and Gender Ratio of Loan Consultant Employees?
Gender ratio in Loan Consultant position: 0.664020139426801 Male and 0.335979860573199 Female. Age ratio in Loan Consultant position: 16-20: 8%, 21-30: 46%, 31-40: 24%, 41-50: 14%, 51-60: 7%, 60+: 1%. Loan Consultant position is predominantly male (66.4%) with the largest age group being 21-30 years old, followed by 31-40 years old.
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Loan ConsultantMiami, FL - 8 months ago
Where is the diversity? This male dominance needs to change! 💔
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Loan ConsultantSeattle, WA - 8 months ago
Are young people the only ones qualified for this job? What about experience? 😠

Workplaces

Who Are the Top Employers for Loan Consultant?
Top employers of Loan Consultant position: Caliber Home Loans, loanDepot, New American Funding. People who work in Loan Consultant position most typically go on to work for the Caliber Home Loans.
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Loan ConsultantPhiladelphia, PA - 8 months ago
I've had nothing but positive experiences with New American Funding. Their team is knowledgeable and goes above and beyond to assist clients. 🙌
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Loan ConsultantPhoenix, AZ - 8 months ago
loanDepot has been a reliable employer for Loan Consultants like me for years. I've never had any complaints about their services. 💯
Caliber Home Loans
loanDepot
New American Funding
What Industries Does Loan Consultant Typically Have Experience In?
Industry Background: The most typical industries of Loan Consultant: Finance & Insurance, Real Estate / Rental / Leasing, Professional / Scientific / Technical, Construction, Information Technology. Loan Consultant employees most likely come from a Finance & Insurance industry background.
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Loan ConsultantHouston, TX - 8 months ago
Can we please appreciate the stress Loan Consultants endure? Dealing with clients' financial struggles day in and day out ain't easy, y'all! 😩
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Loan ConsultantNew York City, NY - 8 months ago
Not all Loan Consultants are scammers trying to push subprime mortgages on unsuspecting borrowers. Some of us genuinely care about our clients' financial well-being! 🏦

Find your job as Loan Consultant

Discussion about Loan Consultant

Want to know more about Loan Consultant position?
Share your thoughts and ideas about Loan Consultant position with others in our community.
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What is the women/men ratio in the job of Loan Consultant?
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Benjamin Gardner3 years ago
Mostly men choose this job, but women also choose this.
What is the typical age of people who work as a Loan Consultant?
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Sophie Hayes3 years ago
The typical age is 32.
Is a Loan Consultant considered to be a junior profession?
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Liam Brown3 years ago
You should work for 6 years on average to become a Loan Consultant.
Which industries are highly likely to employ a Loan Consultant?
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Benjamin Gardner3 years ago
Finance & Insurance employs the most.
Is a higher education needed as a Loan Consultant?
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Sophie Hayes3 years ago
No higher education is the typical for a Loan Consultant
Which company employs the most people in the Loan Consultant role?
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Isabella Holmes3 years ago
Caliber Home Loans, loanDepot, New American Funding, Pulte Mortgage and Wells Fargo has the most employees.
How many years do people work as a Loan Consultant before changing their role?
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Isabella Holmes3 years ago
4 years is the typical lifespan for a Loan Consultant.
How frequently people change companies if they work as a Loan Consultant?
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Isabella Holmes3 years ago
A typical Loan Consultant might work for one or two companies.
What do people usually work as before switching to Loan Consultant?
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Benjamin Gardner3 years ago
A Loan Consultant probably worked as Loan Officer, Mortgage Loan Officer or Mortgage Loan Consultant before
What typical professions people working as a Loan Consultant switch to?
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Benjamin Gardner3 years ago
Working as Loan Consultant consider Loan Officer, Mortgage Loan Officer or Mortgage Loan Consultant as a next step in your career.
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