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The differences between home mortgage consultants and senior underwriters can be seen in a few details. Each job has different responsibilities and duties. Additionally, a senior underwriter has an average salary of $69,375, 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 senior underwriter are customer service, portfolio, and underwriting guidelines.
| Home Mortgage Consultant | Senior Underwriter | |
| Yearly salary | $36,437 | $69,375 |
| Hourly rate | $17.52 | $33.35 |
| Growth rate | 4% | -4% |
| Number of jobs | 53,987 | 6,726 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 72% | Bachelor's Degree, 71% |
| Average age | 45 | 44 |
| Years of experience | 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.
A senior underwriter is responsible for evaluating the eligibility of an applicant for loan application processing. Senior underwriters verify the applicant's information, including their credit score and other valid documents, ensuring that the applicant fulfills the loan application's parameters. They check the applicant's portfolios and provide them the next necessary steps and the alternatives for loan types. A senior underwriter must have excellent knowledge of the loan processes and underwriting procedures to analyze applications and make accurate decisions.
Home mortgage consultants and senior underwriters have different pay scales, as shown below.
| Home Mortgage Consultant | Senior Underwriter | |
| Average salary | $36,437 | $69,375 |
| Salary range | Between $26,000 And $50,000 | Between $44,000 And $108,000 |
| Highest paying City | - | New York, NY |
| Highest paying state | - | New York |
| Best paying company | - | Capital Group |
| Best paying industry | - | Insurance |
There are a few differences between a home mortgage consultant and a senior underwriter in terms of educational background:
| Home Mortgage Consultant | Senior Underwriter | |
| Most common degree | Bachelor's Degree, 72% | Bachelor's Degree, 71% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between home mortgage consultants' and senior underwriters' demographics:
| Home Mortgage Consultant | Senior Underwriter | |
| Average age | 45 | 44 |
| Gender ratio | Male, 62.7% Female, 37.3% | Male, 42.0% Female, 58.0% |
| 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, 9.3% Unknown, 2.5% Hispanic or Latino, 9.4% Asian, 5.6% White, 72.9% American Indian and Alaska Native, 0.4% |
| LGBT Percentage | 8% | 9% |