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.

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Average Years of Experience

0 - 1
2 - 4
5 - 7

Common Skill Sets

IN Spanish
Microsoft Office
Excellent Customer Service
Military Experience
Written Communication

Mortgage Consultant Seniority Levels

Loan Officer
38% made the transition
Loan Processor
17% made the transition
See Career Path

Mortgage Consultant Salaries

Average Base Pay

£27,166 /yr
Same as national average
Not including cash compensation
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Median: £27K
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Glassdoor Estimated Salary

Mortgage Consultant jobs

Mortgage Consultant Interviews