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.

Education--
Work/Life Balance
3.5 ★
Salary Range--
Career Opportunity
3.5 ★
Avg. Experience2-4 years

Mortgage Consultant Salaries

Average Base Pay

$42,361 /yr
Same as national average
Not including cash compensation
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$22K
Median: $42K
$81K
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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.

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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.
DynamoDynamo
Mortgage Consultant
Feb 25, 2021

“No sick pay and if you go home sick you get docked either half day or whole day pay”

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.”

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”

MoneySolverMoneySolver
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.”

Veterans United Home LoansVeterans United Home Loans
Disclosure Specialist
Nov 12, 2019

“I ultimately ended up leaving VU because there was so much pressure to take on additional work.”

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Mortgage Consultant Interviews

Related Careers

Loan Officer
$56,987
No skills overlap
Loan Processor
$48,076
No skills overlap
Underwriter
$65,091
No skills overlap
Underwriting Assistant
$46,711
No skills overlap

Mortgage Consultant Jobs