What does a Mortgage Consultant do?

Mortgage consultants work with lending institutions acting on the behalf of a potential borrower to get the best loan for the borrower's financial situation. While they do not work directly for banks like loan officers, they work as independent contractors and often develop relationships with real estate agents who recommend them to clients hoping to apply for a loan.

Mortgage consultants collect personal information and a loan application and use it to assess the borrower’s credit and financial history. They explain the loan process to the applicants and use underwriting software to determine the amount an applicant can afford to borrow and pay back. They work with multiple banks to broker the best loan amount and interest rate for their clients. They assist clients and businesses requiring loans to buy or refinance a building including a home or real estate property. Mortgage consultants need a minimum bachelor's degree for some positions as well as 20 hours of approved coursework to be licensed; they will also need a license or certification.

EducationBachelor's Degree
Work/Life Balance
3.5 ★
Salary Range--
Career Opportunity
3.5 ★
Avg. Experience2-4 years

Mortgage Consultant Salaries

Average Base Pay

$49,911 /yr
Same as national average
Not including cash compensation
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Not enough salaries reported to show distribution
Median: $50K
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Glassdoor Estimated Salary

Mortgage Consultant Career Path

Learn how to become a Mortgage Consultant, what skills and education you need to succeed, and what level of pay to expect at each step on your career path.

Mortgage Consultant
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Mortgage Consultant Insights

Read what Mortgage Consultant professionals have to say about their job experiences and view top companies for this career.
Arvest BankArvest Bank
Mortgage Sales Assistant
Aug. 31, 2020

“Commission for assistants requires difficult minimum number loans to close before low payout per loan is given.”

Wells FargoWells Fargo
Mortgage Consultant
Feb. 11, 2021

“Training was long and didn't cover what I felt was necessary to make me successful at the job once I was on my own.”

Lenox Financial Mortgage CorporationLenox Financial Mortgage Corporation
Disclosure Specialist
Sep. 10, 2021

“I worked here for only 5 months and survived the first round of layoffs but didn't make the second.”

Amerihome MortgageAmerihome Mortgage
Mortgage Consultant
Nov. 2, 2020

“Flexible schedule was pretty nice”

Gateway Mortgage GroupGateway Mortgage Group
Mortgage Consultant
Jun. 18, 2020

“Good pay & good hours”

Student Loan Consultant
Feb. 4, 2020

“fun and enjoyable place to work”

Movement MortgageMovement Mortgage
Disclosure Specialist
Aug. 8, 2020

“the pay wasn't the best and the hours”

Interbase ResourcesInterbase Resources
Commercial Loan Consultant
Feb. 3, 2020

“for me its the best place to start your development career as a software engineer.”

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Mortgage Consultant Interviews

Related Careers

Loan Officer
25% skills overlap
Loan Processor
25% skills overlap
13% skills overlap
Underwriting Assistant
13% skills overlap

Mortgage Consultant jobs

Frequently asked questions about the role and responsibilities of a mortgage consultant

When working as a mortgage consultant, the most common skills you will need to perform your job and for career success are IN Spanish, Speaking, Bilingual, Microsoft Office and Excellent Customer Service.

The most similar professions to mortgage consultant are:
  • Loan Officer
  • Loan Processor
  • Underwriter
  • Underwriting Assistant

The most common qualifications to become a mortgage consultant is a minimum of a Bachelor's Degree and an average of 0 - 1 of experience not including years spent in education and/or training.