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

Home Mortgage Consultant Salaries

Average Base Pay

₹3,87,447 /yr
Same as national average
Not including cash compensation
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Not enough salaries reported to show distribution
Median: ₹4L
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Glassdoor Estimated Salary

Home Mortgage Consultant Career Path

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

Loan Officer
Senior Loan Officer
Lead Loan Officer
No Salary Reports
Home Mortgage Consultant

Years of Experience Distribution

0 - 1
2 - 4
5 - 7
Not including years spent in education and/or training

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
3 Sept 2022

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

Texana BankTexana Bank
Mortgage Loan Officer
28 Jun 2022

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

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

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

Loan Officer
18 Nov 2021

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

New American FundingNew American Funding
Mortgage Loan Officer
17 Feb 2022

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

BluPeak Credit UnionBluPeak Credit Union
Loan Officer
1 Sept 2022

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

Loan Officer
31 Mar 2022

“Promotion was not based on merit but rather who the manager at the time liked.”

Loan Officer
20 Mar 2023

“Someone putting good good good as a review to offset the bad reviews should tell you plenty.”

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Home Mortgage Consultant Interviews

Frequently asked questions about the role and responsibilities of a Home Mortgage Consultant

When working as a Home Mortgage Consultant, the most common skills you will need to perform your job and for career success are BS Degree, Negotiation, Business Writing, VERBAL Communication and Interpersonal and Communication.

The most similar professions to Home Mortgage Consultant are:
  • Underwriting Consultant
  • Loan Processor
  • Underwriter
  • Credit Analyst

The most common qualifications to become a Home 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.

Related Careers

Underwriting Consultant
No skills overlap
Loan Processor
25% skills overlap
38% skills overlap
Credit Analyst
25% skills overlap

Home Mortgage Consultant jobs