What does a Home Mortgage Consultant do?

Loan officers review, authorize, and recommend personal and commercial loans for approval. Loan officers meet with applicants in order to determine their creditworthiness. They usually work at mortgage companies, commercial banks, credit unions, and other financial institutions.

Most loan officers have a Bachelor's degree in business administration, finance, economics, or a related field, and are trained on the job. Residential mortgage loan officers must be licensed. Loan officers generally need strong sales and interpersonal skills.

What responsibilities are common for Home Mortgage Consultant jobs?
  • Sell loan products and meet loan production targets
  • Perform business development tasks, including managing the pipeline by generating leads and referral business, and maintaining relationships with existing and past clients
  • Meet and communicate with applicants to explain the risks and benefits, as well as the terms of loan products and government regulations
  • Obtain relevant information and evaluate applicants' financial status, including credit history, debt-to-income ratio, and appraisal reports, to determine recommendation for loan approval
  • Ensure all necessary information and documentation is submitted to the loan underwriting department, and is recorded properly in electronic file format
  • Represent the employer at community events and host seminars
  • Maintain current knowledge of all applicable lending regulations, the economy, market rates, vendors, and competitors
  • Consistently deliver first-class customer service
What are the typical qualifications for Home Mortgage Consultant jobs?
  • Associate's degree or Bachelor's degree in business administration, finance, economics, or a related field
  • 2+ years of experience in the mortgage lending, banking, or real estate industry
  • Strong Microsoft Office skills and ability to use relevant industry-specific computer programs, as well as calculators
  • Exceptional interpersonal skills and strong customer service orientation
  • Excellent written and verbal communication skills
  • NMLS license required
  • Ability to work both in a team and independently
Education--
Work/Life Balance
3.5 ★
Salary Range--
Career Opportunity
3.5 ★
Avg. Experience2-4 years

Home Mortgage Consultant Salaries

Average Base Pay

$50,123 /yr
Same as national average
Not including cash compensation
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Not enough salaries reported to show distribution
$28K
Median: $50K
$88K
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Glassdoor Estimated Salary

Home Mortgage Consultant Insights

Read what Home Mortgage Consultant professionals have to say about their job experiences and view top companies for this career.
U.S. BankU.S. Bank
Loan Officer
Sept 3, 2022

“Can be an amazing place to work and for the most part everyone is great.”

fiber.mortgagefiber.mortgage
Mortgage Loan Officer
Aug 24, 2020

“But the best part is helping people and all of the fun we have in the process.”

Texana BankTexana Bank
Mortgage Loan Officer
Jun 28, 2022

“I don't believe there are any pros working here besides the culture and good people.”

Innerworkings
Loan Officer
Nov 18, 2021

“The culture and outreach programs make this one of the best companies I can imagine working for.”

My Mortgage, Inc.My Mortgage, Inc.
Post Closer
Feb 28, 2022

“I have a great team and we work hard to make sure we keep it that way.”

BluPeak Credit UnionBluPeak Credit Union
Loan Officer
Sept 1, 2022

“The training department was let go and not everyone is going to learn from a video.”

New American FundingNew American Funding
Mortgage Loan Officer
Feb 17, 2022

“Training is based on real life client interactions and can be applied to everyday activities.”

Network Capital Funding CorporationNetwork Capital Funding Corporation
Mortgage Loan Officer
Oct 21, 2021

“I was great with the trainings provided to us that helped me get licensed in a few states.”

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Home Mortgage Consultant Interviews

Home Mortgage Consultant jobs