Explore jobs
Find specific jobs
Explore careers
Explore professions
Best companies
Explore companies
The differences between mortgage assistants and closing coordinators can be seen in a few details. Each job has different responsibilities and duties. It typically takes 2-4 years to become both a mortgage assistant and a closing coordinator. Additionally, a closing coordinator has an average salary of $39,066, which is higher than the $33,961 average annual salary of a mortgage assistant.
The top three skills for a mortgage assistant include data entry, mortgage loans and loan applications. The most important skills for a closing coordinator are customer service, escrow, and HOA.
| Mortgage Assistant | Closing Coordinator | |
| Yearly salary | $33,961 | $39,066 |
| Hourly rate | $16.33 | $18.78 |
| Growth rate | -3% | -3% |
| Number of jobs | 5,147 | 19,203 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 53% | Bachelor's Degree, 50% |
| Average age | 42 | 42 |
| Years of experience | 4 | 4 |
A mortgage assistant, sometimes referred to as a loan officer assistant, works directly with clients and members of the office to meet set organization goals. Their key responsibilities include reviewing loan applications, preparing letters for credit for clients, offering administrative support to supervising loan officers, and providing customer service to clients. They are also required to use computer programs to track loan processing and billing. This role requires customer service experience and knowledge of relevant computer software.
In the real estate industry, a closing coordinator is in charge of coordinating the final stages of a real estate deal, ensuring efficiency and smooth transaction. Among their responsibilities include preparing and processing legal documents, liaising with the buyer and seller, managing timelines and payment plans, and ensuring that both parties adhere to the terms of the agreement. Moreover, a closing coordinator must maintain an active communication line with staff, answering their inquiries, and assisting them as needed.
Mortgage assistants and closing coordinators have different pay scales, as shown below.
| Mortgage Assistant | Closing Coordinator | |
| Average salary | $33,961 | $39,066 |
| Salary range | Between $26,000 And $43,000 | Between $29,000 And $52,000 |
| Highest paying City | Rockville, MD | Kirkland, WA |
| Highest paying state | West Virginia | Washington |
| Best paying company | DFCU Financial | HarbourVest |
| Best paying industry | Professional | Finance |
There are a few differences between a mortgage assistant and a closing coordinator in terms of educational background:
| Mortgage Assistant | Closing Coordinator | |
| Most common degree | Bachelor's Degree, 53% | Bachelor's Degree, 50% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between mortgage assistants' and closing coordinators' demographics:
| Mortgage Assistant | Closing Coordinator | |
| Average age | 42 | 42 |
| Gender ratio | Male, 21.6% Female, 78.4% | Male, 20.8% Female, 79.2% |
| Race ratio | Black or African American, 12.0% Unknown, 4.4% Hispanic or Latino, 13.7% Asian, 7.9% White, 61.5% American Indian and Alaska Native, 0.4% | Black or African American, 12.7% Unknown, 4.7% Hispanic or Latino, 15.8% Asian, 6.3% White, 59.9% American Indian and Alaska Native, 0.6% |
| LGBT Percentage | 7% | 7% |