Mortgage Consultant Job Description

Save

A mortgage consultant is a lending professional who secures financing for people wishing to obtain a mortgage. Consultants shop around to find customers the best rate for the most affordable payment.

Working with Borrower and Lender

  • Mortgage consultants or brokers gather information about borrowers, such as their occupation, salary and credit history, and then use this information to negotiate rates and terms with lenders.

Function

  • Mortgage consultants work with borrowers both looking to purchase new homes and refinance existing mortgages to obtain lower payments. Consultants typically charge fees to the borrower or the lender for their services and are paid a percentage of these fees.

Types of Consultants

  • Some mortgage consultants are self-employed and work alone, while others work for large mortgage or mortgage broker companies.

Education

  • Mortgage consultants typically have a minimum of a bachelor's degree, though the major subject can be in any field. Many consultants seek certification through the National Association of Mortgage Brokers by passing a written examination.

Compensation

  • In April 2011, the average annual salary for mortgage consultants was $103,000, according to Indeed.com.

References

Promoted By Zergnet

Comments

You May Also Like

  • Consultant Job Description

    Consultants earn a living by using an existing body of knowledge and experience. They provide expert advice to help businesses or individuals...

  • Mortgage Originator Job Description

    A mortgage originator, or loan officer, is the employee of a mortgage lender who procures new mortgage transactions for the lender. The...

  • Job Description of a Legal Consultant

    Legal consultants are fully trained lawyers who've passed the bar exam in the states they work in. Instead of representing clients in...

  • Property Consultant Job Description

    Consumers who purchase commercial or residential real estate typically require the knowledge and guidance of a professional. A property consultant provides this...

  • What Is a Mortgage Loan Consultant?

    Mortgage loan consultants, also known as mortgage loan officers, help clients identify mortgage opportunities, complete an application and close on the loan....

Related Searches

Check It Out

3 Day-to-Night Outfits for the Work Week

M
Is DIY in your DNA? Become part of our maker community.
Submit Your Work!