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Salary and Benefits

Mortgage Loan Consultant
$53K-$65K / yr. (est.)
$54K
$59,781 / year
$66K
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 Mortgage Loan Consultant

What does a Mortgage Loan Consultant do?

As Mortgage Loan Consultants, we collaborate with senior managers to set credit policies, credit lines, and company standards. We interview loan applications to obtain necessary information on their background estimate their creditworthiness and risk of non-repayment. 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. We maintain hardcopy and digital records of all loan documents, agreements, and correspondences.

Core tasks:

  • hire, train, and supervise new personnel in the loan department
  • stay up-to-date with relevant financial regulations
  • build and maintain a strong network with internal and external referral sources

Insights

How Many Years of Experience Do Professionals Need Before Becoming Mortgage Loan Consultant?
On average, people work 5-7 years in other positions prior to becoming a Mortgage Loan Consultant.
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Mortgage Loan ConsultantSeattle, WA - A year ago
no way! I can't afford to wait that long, I need money now! đŸ˜€
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Mortgage Loan ConsultantNew York City, NY - A year ago
đŸ€” I guess it gives you time to learn the ropes and build a strong foundation?
How Long Do Mortgage Loan Consultant Employees Typically Stay in Their Roles?
On average, Mortgage Loan Consultants works in this position for 3-5 years across multiple employers.
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Financial AnalystHouston, TX - A year ago
It's not just about the stress. Constantly seeking better opportunities helps us grow and learn in this industry.
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Loan ProcessorMiami, FL - A year ago
đŸ”„ The turnover for Mortgage Loan Consultants is alarming! It reflects poorly on the industry's stability and professionalism.
What Is the Job Hopper Score for Mortgage Loan Consultant Employees?
Frequent job changes in Mortgage Loan Consultant, indicating a willingness to change companies and roles more frequently.
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HR ManagerHouston, TX - A year ago
I can see why some people may question the job hopping, but maybe these Mortgage Loan Consultants are searching for the perfect blend of culture and growth opportunities? đŸŒ±
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Mortgage UnderwriterMiami, FL - A year ago
🙄 It's alarming to see such a high turnover rate in this industry. It makes you wonder if these consultants are struggling to adapt to the fast-paced nature of mortgage lending.

Career path

Path to job

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

Path after job

Community

Demographics

What Is the Age and Gender Ratio of Mortgage Loan Consultant Employees?
Gender ratio in Mortgage Loan Consultant position: 0.653045186640472 Male and 0.346954813359528 Female. Age ratio in Mortgage Loan Consultant position: 16-20: 5%, 21-30: 42%, 31-40: 28%, 41-50: 16%, 51-60: 7%, 60+: 2%. Mortgage Loan Consultant position is predominantly male (65.3%) with the largest age group being 21-30 years old, followed by 31-40 years old.
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Mortgage Loan ConsultantPhiladelphia, PA - A year ago
Though gender imbalance is a concern, we shouldn't neglect the age representation either. The fact that the largest age group is 21-30, with only 2% over 60, shows that we have a limited pool of experienced professionals. 👮
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Mortgage Loan ConsultantPhoenix, AZ - A year ago
Well, maybe the younger generation is more attracted to this field due to the potential for high earnings? 💰 But we still need to address the gender gap and promote diversity.

Workplaces

Who Are the Top Employers for Mortgage Loan Consultant?
Top employers of Mortgage Loan Consultant position: Bank of America, Caliber Home Loans, loanDepot. People who work in Mortgage Loan Consultant position most typically go on to work for the Bank of America.
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Mortgage Loan ConsultantPhiladelphia, PA - A year ago
Why choose a big name when you can come to us local heroes at Caliber Home Loans?
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Mortgage Loan ConsultantSeattle, WA - A year ago
loanDepot is the only one who truly makes a difference in people's lives through their loans!
Bank of America
Caliber Home Loans
loanDepot
What Industries Does Mortgage Loan Consultant Typically Have Experience In?
Industry Background: The most typical industries of Mortgage Loan Consultant: Finance & Insurance, Professional / Scientific / Technical, Real Estate / Rental / Leasing, Construction, Administrative & Support. Mortgage Loan Consultant employees most likely come from a Finance & Insurance industry background.
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Mortgage Loan ConsultantHouston, TX - A year ago
Don't generalize based on a few bad experiences! There are plenty of dedicated and trustworthy Mortgage Loan Consultants out there who truly care about helping their clients.
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Mortgage Loan ConsultantPhiladelphia, PA - A year ago
Yeah, I agree, there are definitely some bad apples in every industry. But it's important for Mortgage Loan Consultants to always be transparent and provide reliable guidance to their clients. 🔍

Find your job as Mortgage Loan Consultant

Discussion about Mortgage Loan Consultant

Want to know more about Mortgage Loan Consultant position?
Share your thoughts and ideas about Mortgage Loan Consultant position with others in our community.
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Is Mortgage Loan Consultant a female or male dominated profession?
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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 Mortgage Loan Consultant?
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Sophie Hayes3 years ago
34 is the average age of people working as a Mortgage Loan Consultant.
How much experience do you need to work as a Mortgage Loan Consultant?
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Sophie Hayes3 years ago
On average, people have 6 years of experience when they start working as a Mortgage Loan Consultant
Which industries are highly likely to employ a Mortgage Loan Consultant?
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Isabella Holmes3 years ago
Most typically work in the Finance & Insurance industry.
Do I need a degree to work as a Mortgage Loan Consultant?
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Sophie Hayes3 years ago
Most people have No higher education
Where are you working as a Mortgage Loan Consultant?
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Benjamin Gardner3 years ago
It’s common for a Mortgage Loan Consultant to work for Bank of America, Caliber Home Loans, loanDepot, Wells Fargo and Wells Fargo Home Mortgage
How long do people usually work as a Mortgage Loan Consultant when they switch to another position?
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Liam Brown3 years ago
4 years is the typical lifespan for a Mortgage Loan Consultant.
Is it common for people to switch companies and still work as a Mortgage Loan Consultant?
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Isabella Holmes3 years ago
We can say that a Mortgage Loan Consultant is likely a job hopper role.
What do people usually work as before switching to Mortgage Loan Consultant?
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Benjamin Gardner3 years ago
Typical prior positions for a Mortgage Loan Consultant are Loan Officer, Mortgage Loan Officer or Mortgage Consultant
If I’m working as a Mortgage Loan Consultant, what next position could I have?
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Sophie Hayes3 years ago
Changing from a Mortgage Loan Consultant to Mortgage Loan Officer, Loan Officer or Mortgage Loan Originator is a typical career path.
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