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The differences between home mortgage consultants and loan officers assistant 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 loan officer assistant. Additionally, a loan officer assistant has an average salary of $45,681, which is higher than the $36,437 average annual salary of a home mortgage consultant.
The top three skills for a home mortgage consultant include customer service, financial professionals and NMLS. The most important skills for a loan officer assistant are customer service, origination, and loan process.
| Home Mortgage Consultant | Loan Officer Assistant | |
| Yearly salary | $36,437 | $45,681 |
| Hourly rate | $17.52 | $21.96 |
| Growth rate | 4% | 4% |
| Number of jobs | 53,987 | 65,094 |
| Job satisfaction | - | 4 |
| Most common degree | Bachelor's Degree, 72% | Bachelor's Degree, 53% |
| 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.
Loan Officer Assistants assist loan officers in processing the loan applications of clients. Loan officer assistants primarily work on the administrative tasks in the departments. They are in charge of managing documents, updating databases, and sorting files. Loan officer assistants may be assigned to review applications of clients. They should check whether both the application form and the supplementary documents are complete. They may also assess whether the clients meet the requirements for the loan. Upon checking, they manage the documents and package them for submission to the lender. Loan officer assistance may also be assigned to coordinate with lenders and update in-house policies according to the lenders' policies.
Home mortgage consultants and loan officers assistant have different pay scales, as shown below.
| Home Mortgage Consultant | Loan Officer Assistant | |
| Average salary | $36,437 | $45,681 |
| Salary range | Between $26,000 And $50,000 | Between $28,000 And $72,000 |
| Highest paying City | - | New York, NY |
| Highest paying state | - | New York |
| Best paying company | - | Stifel Financial |
| Best paying industry | - | Finance |
There are a few differences between a home mortgage consultant and a loan officer assistant in terms of educational background:
| Home Mortgage Consultant | Loan Officer Assistant | |
| Most common degree | Bachelor's Degree, 72% | Bachelor's Degree, 53% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | SUNY at Binghamton |
Here are the differences between home mortgage consultants' and loan officers assistant' demographics:
| Home Mortgage Consultant | Loan Officer Assistant | |
| Average age | 45 | 45 |
| Gender ratio | Male, 62.7% Female, 37.3% | Male, 28.8% Female, 71.2% |
| 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, 9.1% Unknown, 4.6% Hispanic or Latino, 15.7% Asian, 6.3% White, 63.8% American Indian and Alaska Native, 0.5% |
| LGBT Percentage | 8% | 8% |