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The differences between commercial credit analysts and mortgage consultants can be seen in a few details. Each job has different responsibilities and duties. While it typically takes 1-2 years to become a commercial credit analyst, becoming a mortgage consultant takes usually requires 4-6 years. Additionally, a commercial credit analyst has an average salary of $66,482, which is higher than the $38,934 average annual salary of a mortgage consultant.
The top three skills for a commercial credit analyst include credit analysis, customer service and strong analytical. The most important skills for a mortgage consultant are customer service, origination, and NMLS.
| Commercial Credit Analyst | Mortgage Consultant | |
| Yearly salary | $66,482 | $38,934 |
| Hourly rate | $31.96 | $18.72 |
| Growth rate | 4% | 4% |
| Number of jobs | 42,862 | 24,057 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 80% | Bachelor's Degree, 67% |
| Average age | 39 | 45 |
| Years of experience | 2 | 6 |
A commercial credit analyst is primarily in charge of assessing a client's credit or loan application, ensuring that they are fit to uphold financial obligations. Their responsibilities typically revolve around coordinating different departments to gather necessary client data, reviewing financial histories, verifying the authenticity of requirements, and developing financial profiles. Moreover, a commercial credit analyst may perform research and analysis to identify new business opportunities, produce progress and sales reports, monitor the payment progress of clients, and maintain a record of all transactions.
A mortgage consultant is an individual who helps customers and businesses identify the best option for mortgage deals based on their financial resources. To maintain an excellent relationship with clients, mortgage consultants must possess a broad knowledge of the company's products to answer all the clients' queries and concerns. They help clients gather and analyze documents that are required for loan approval and create accurate mortgage information. They also develop relationships with banks and real estate agents to help promote bank mortgages for clients.
Commercial credit analysts and mortgage consultants have different pay scales, as shown below.
| Commercial Credit Analyst | Mortgage Consultant | |
| Average salary | $66,482 | $38,934 |
| Salary range | Between $46,000 And $94,000 | Between $23,000 And $63,000 |
| Highest paying City | Burlingame, CA | New York, NY |
| Highest paying state | California | New York |
| Best paying company | HSBC Bank | Centennial Bank |
| Best paying industry | Automotive | Finance |
There are a few differences between a commercial credit analyst and a mortgage consultant in terms of educational background:
| Commercial Credit Analyst | Mortgage Consultant | |
| Most common degree | Bachelor's Degree, 80% | Bachelor's Degree, 67% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between commercial credit analysts' and mortgage consultants' demographics:
| Commercial Credit Analyst | Mortgage Consultant | |
| Average age | 39 | 45 |
| Gender ratio | Male, 61.6% Female, 38.4% | Male, 58.2% Female, 41.8% |
| Race ratio | Black or African American, 7.9% Unknown, 2.7% Hispanic or Latino, 9.6% Asian, 10.5% White, 69.0% American Indian and Alaska Native, 0.3% | Black or African American, 9.3% Unknown, 4.6% Hispanic or Latino, 16.2% Asian, 6.4% White, 62.9% American Indian and Alaska Native, 0.5% |
| LGBT Percentage | 11% | 8% |