How to hire a loan adviser

How to hire a loan adviser, step by step

Here's a step-by-step loan adviser hiring guide:

• Step 1: Identify your hiring needs
• Step 2: Create an ideal candidate profile
• Step 3: Make a budget
• Step 4: Write a loan adviser job description
• Step 5: Post your job
• Step 6: Interview candidates
• Step 7: Send a job offer and onboard your new loan adviser
• Step 8: Go through the hiring process checklist

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1. Identify your hiring needs

   The loan adviser hiring process starts by determining what type of worker you actually need. Certain roles might require a full-time employee, whereas part-time workers or contractors can do others.

   Determine employee vs contractor status

   Is the person you're thinking of hiring a US citizen or green card holder?

   Yes

   No

   Hiring the perfect loan adviser also involves considering the ideal background you'd like them to have. Depending on what industry or field they have experience in, they'll bring different skills to the job. It's also important to consider what levels of seniority and education the job requires and what kind of salary such a candidate would likely demand.

   The following list breaks down different types of loan advisers and their corresponding salaries.

   Type of Loan Adviser	Description	Hourly rate
   Loan Adviser	Loan officers evaluate, authorize, or recommend approval of loan applications for people and businesses.	$13-26
   Mortgage Consultant	A mortgage consultant is a professional 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... Show more	$11-30
   Mortgage Banker	A Mortgage Banker is specialized in offering financing to buy homes or refinance previous mortgages. They work as part of a banks loan department.	$4-37

   Show more

2. Create an ideal candidate profile

   Common skills:

   • Customer Service
   • Origination
   • Mortgage Loans
   • Loan Process
   • Automated Underwriting
   • NMLS
   • Outbound Calls
   • Loan Applications
   • Inbound Calls
   • Contract Obligations
   • Real Estate
   • FHA
   • FDCPA
   • Delinquent Accounts

   Check all skills

   Responsibilities:

   • Manage a multifacete commercial real estate investment firm.
   • Follow the FDCPA, FCRA and TCPA guidelines and is a license collector.
   • Assist future homeowners obtain financing through FHA, VA, USDA, or conventional financing.
   • Handle all calls with due care to ensure proper adherence to FDCPA rules and regulations.
   • Determine financing options for clients, and advise them on a variety of FHA, conventional, and sub-prime mortgages.
   • Communicate to a small team basic loan restructuring possibilities to assist customers in resolving delinquency and avoiding foreclosure.

3. Make a budget

   Including a salary range in your loan adviser job description is one of the best ways to attract top talent. A loan adviser can vary based on:

   • Location. For example, loan advisers' average salary in mississippi is 38% less than in maine.
   • Seniority. Entry-level loan advisers 50% less than senior-level loan advisers.
   • Certifications. A loan adviser with certifications usually earns a higher salary.
   • Company. Working for an established firm or a new start-up company can make a big difference in a loan adviser's salary.

   Average loan adviser salary

   $40,365yearly

   $19.41 hourly rate

   ---

   Entry-level loan adviser salary

   $28,000 yearly salary

   Updated January 30, 2026

4. Writing a loan adviser job description

   A job description for a loan adviser role includes a summary of the job's main responsibilities, required skills, and preferred background experience. Including a salary range can also go a long way in attracting more candidates to apply, and showing the first name of the hiring manager can also make applicants more comfortable. As an example, here's a loan adviser job description:

   Loan adviser job description example

   Sr. Loan Advisor - NM & AZ (Albuquerque, Santa Fe and Los Cruces, NM; Phoenix, AZ)
   
   Location
   Work From Home United States
   
   Job Summary
   Proactively identify, develop and maintain a quality network of business relationships that serves as a source of referrals for new mortgage lending opportunities. Interview new and existing customers to determine their loan needs and advise those customers of appropriate products, terms, and pricing while gathering any additional required data. Generate complete mortgage applications, ensure appropriate procedures and policies are followed, while meeting sales goals and objectives.
   
   Job Responsibilities:
   Originate mortgage loans that meet Flagstar bank credit and underwriting requirements. Perform all origination tasks in accordance with industry and regulatory guidelines and requirements. Achieve sales and referral goals by developing a one-of-a-kind customer experience. Refer clients to other Flagstar business partners so that they may explore obtaining additional financial products and services that Flagstar offers (i.e. retail banking products, investments, commercial services). Market to and manage referral relationships. Referral relationships include realtors, builders, professional and personal contacts. Participate in in business related development opportunities community efforts to promote home ownership. Proactively seek ways to develop and expand customer relationships in order to achieve branch and personal goals.Provide status updates and assist processing with the collection of any trailing borrow documentation needed to complete loan processing and closing.Attend Flagstar required production meetings. Attend/complete all Flagstar and industry required training. Actively participate in opportunities to expand knowledge, influencing and interpersonal skills.Ensure compliance with applicable federal, state and local laws and regulations. Complete all required compliance training. Maintain knowledge of and adhere to Flagstar's internal compliance policies and procedures. Take responsibility to keep up to date with changing regulations and policies.
   
   Job Requirements:
   2+ years of demonstrated networking and/or referral sales experience. Experience in a self-generated/self-sourced sales environment strongly preferred.Mortgage industry experience strongly preferred Exceptional customer service skills Excellent verbal and written communication skills Demonstrates poise, tact and professionalism Strong organizational skills with attention to detail Ability to work with minimal supervision Strong computer skills including experience with MS application Ability to work flexible and varying work schedules Travel 50% to 75%
   
   Flagstar Bank is hiring loan officers in the following locations:
   Albuquerque, NMSanta Fe, NMLas Cruces, NM
   
   Internal Use Only - Job Bank M-Hourly

   Copy this example

   

5. Post your job

   There are a few common ways to find loan advisers for your business:

   • Promoting internally or recruiting from your existing workforce.
   • Ask for referrals from friends, family members, and current employees.
   • Attend job fairs at local colleges to meet candidates with the right educational background.
   • Use social media platforms like LinkedIn, Facebook, and Twitter to recruit passive job-seekers.

   Post your job online:

   • Post your loan adviser job on Zippia to find and recruit loan adviser candidates who meet your exact specifications.
   • Use field-specific websites such as efinancialcareers, financialjobsweb.com, careerbank, financial job bank.
   • Post a job on free websites.

6. Interview candidates

   Recruiting loan advisers requires you to bring your A-game to the interview process. The first interview should introduce the company and the role to the candidate as much as they present their background experience and reasons for applying for the job. During later interviews, you can go into more detail about the technical details of the job and ask behavioral questions to gauge how they'd fit into your current company culture.

   Remember to include a few questions that allow candidates to expand on their strengths in their own words. Asking about their unique skills might reveal things you'd miss otherwise. At this point, good candidates can move on to the technical interview.

   The right interview questions can help you assess a candidate's hard skills, behavioral intelligence, and soft skills.

7. Send a job offer and onboard your new loan adviser

   Once you've found the loan adviser candidate you'd like to hire, it's time to write an offer letter. This should include an explicit job offer that includes the salary and the details of any other perks. Qualified candidates might be looking at multiple positions, so your offer must be competitive if you like the candidate. Also, be prepared for a negotiation stage, as candidates may way want to tweak the details of your initial offer. Once you've settled on these details, you can draft a contract to formalize your agreement.

   It's equally important to follow up with applicants who don't get the job with an email letting them know that the position has been filled.

   After that, you can create an onboarding schedule for a new loan adviser. Human Resources and the hiring manager should complete Employee Action Forms. Human Resources should also ensure that onboarding paperwork is completed, including I-9s, benefits enrollment, federal and state tax forms, etc., and that new employee files are created.

8. Go through the hiring process checklist

   • Determine employee type (full-time, part-time, contractor, etc.)
   • Submit a job requisition form to the HR department
   • Define job responsibilities and requirements
   • Establish budget and timeline
   • Determine hiring decision makers for the role
   • Write job description
   • Post job on job boards, company website, etc.
   • Promote the job internally
   • Process applications through applicant tracking system
   • Review resumes and cover letters
   • Shortlist candidates for screening
   • Hold phone/virtual interview screening with first round of candidates
   • Conduct in-person interviews with top candidates from first round
   • Score candidates based on weighted criteria (e.g., experience, education, background, cultural fit, skill set, etc.)
   • Conduct background checks on top candidates
   • Check references of top candidates
   • Consult with HR and hiring decision makers on job offer specifics
   • Extend offer to top candidate(s)
   • Receive formal job offer acceptance and signed employment contract
   • Inform other candidates that the position has been filled
   • Set and communicate onboarding schedule to new hire(s)
   • Complete new hire paperwork (i9, benefits enrollment, tax forms, etc.)

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