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The differences between home mortgage consultants and closers can be seen in a few details. Each job has different responsibilities and duties. It typically takes 4-6 years to become both a home mortgage consultant and a closer. Additionally, a home mortgage consultant has an average salary of $36,437, which is higher than the $29,291 average annual salary of a closer.
The top three skills for a home mortgage consultant include customer service, financial professionals and NMLS. The most important skills for a closer are customer service, cleanliness, and punctuality.
| Home Mortgage Consultant | Closer | |
| Yearly salary | $36,437 | $29,291 |
| Hourly rate | $17.52 | $14.08 |
| Growth rate | 4% | 4% |
| Number of jobs | 53,987 | 7,560 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 72% | Bachelor's Degree, 35% |
| Average age | 45 | 45 |
| Years of experience | 6 | 6 |
Mortgage Consultants work to help people or businesses find the right lenders to get a mortgage from. They work with customers to find options that fit their current circumstances and financial capacity. They deal with lending institutions (banks, credit unions, mortgage bankers, or savings and loan associations) and act on behalf of potential borrowers to get the best deals. Consultants prefer working as independent contractors and not work for lending institutions and convince real estate agents to recommend them to clients when they apply for a loan.
The duties of a closer depend on one's line of work or industry of employment. Typically, their responsibilities revolve around liaising with clients to ensure that they understand and adhere to all terms of the agreement, completing all requirements and necessary documents, and maintaining records of all transactions. A closer must also monitor the regular payments of clients to ensure their compliance with the agreement, answer any inquiries, perform follow-up calls, and address any issues or concerns, resolving them promptly and efficiently.
Home mortgage consultants and closers have different pay scales, as shown below.
| Home Mortgage Consultant | Closer | |
| Average salary | $36,437 | $29,291 |
| Salary range | Between $26,000 And $50,000 | Between $20,000 And $40,000 |
| Highest paying City | - | Greece, NY |
| Highest paying state | - | Hawaii |
| Best paying company | - | GPAC |
| Best paying industry | - | - |
There are a few differences between a home mortgage consultant and a closer in terms of educational background:
| Home Mortgage Consultant | Closer | |
| Most common degree | Bachelor's Degree, 72% | Bachelor's Degree, 35% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between home mortgage consultants' and closers' demographics:
| Home Mortgage Consultant | Closer | |
| Average age | 45 | 45 |
| Gender ratio | Male, 62.7% Female, 37.3% | Male, 45.0% Female, 55.0% |
| Race ratio | Black or African American, 9.2% Unknown, 4.6% Hispanic or Latino, 16.1% Asian, 6.4% White, 63.2% American Indian and Alaska Native, 0.5% | Black or African American, 9.4% Unknown, 4.6% Hispanic or Latino, 16.3% Asian, 6.1% White, 63.1% American Indian and Alaska Native, 0.5% |
| LGBT Percentage | 8% | 8% |