Explore jobs
Find specific jobs
Explore careers
Explore professions
Best companies
Explore companies
The differences between loan officers assistant and mortgage consultants can be seen in a few details. Each job has different responsibilities and duties. It typically takes 4-6 years to become both a loan officer assistant and a mortgage consultant. Additionally, a loan officer assistant has an average salary of $45,681, which is higher than the $38,934 average annual salary of a mortgage consultant.
The top three skills for a loan officer assistant include customer service, origination and loan process. The most important skills for a mortgage consultant are customer service, origination, and NMLS.
| Loan Officer Assistant | Mortgage Consultant | |
| Yearly salary | $45,681 | $38,934 |
| Hourly rate | $21.96 | $18.72 |
| Growth rate | 4% | 4% |
| Number of jobs | 65,094 | 24,057 |
| Job satisfaction | 4 | - |
| Most common degree | Bachelor's Degree, 53% | Bachelor's Degree, 67% |
| Average age | 45 | 45 |
| Years of experience | 6 | 6 |
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.
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.
Loan officers assistant and mortgage consultants have different pay scales, as shown below.
| Loan Officer Assistant | Mortgage Consultant | |
| Average salary | $45,681 | $38,934 |
| Salary range | Between $28,000 And $72,000 | Between $23,000 And $63,000 |
| Highest paying City | New York, NY | New York, NY |
| Highest paying state | New York | New York |
| Best paying company | Stifel Financial | Centennial Bank |
| Best paying industry | Finance | Finance |
There are a few differences between a loan officer assistant and a mortgage consultant in terms of educational background:
| Loan Officer Assistant | Mortgage Consultant | |
| Most common degree | Bachelor's Degree, 53% | Bachelor's Degree, 67% |
| Most common major | Business | Business |
| Most common college | SUNY at Binghamton | University of Pennsylvania |
Here are the differences between loan officers assistant' and mortgage consultants' demographics:
| Loan Officer Assistant | Mortgage Consultant | |
| Average age | 45 | 45 |
| Gender ratio | Male, 28.8% Female, 71.2% | Male, 58.2% Female, 41.8% |
| Race ratio | 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% | 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 | 8% | 8% |