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The differences between mortgage assistants and loan assistants 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 loan assistant. Additionally, a loan assistant has an average salary of $36,962, 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 loan assistant are customer service, loan applications, and mortgage loans.
| Mortgage Assistant | Loan Assistant | |
| Yearly salary | $33,961 | $36,962 |
| Hourly rate | $16.33 | $17.77 |
| Growth rate | -3% | -3% |
| Number of jobs | 5,147 | 8,923 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 53% | Bachelor's Degree, 51% |
| 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.
Loan assistants act as support primarily to loan officers in preparing, reviewing, and verifying account documentation pertinent to loans. Also, ensuring the completeness of the loan files and that all collateral has been properly secured. In addition, loan assistants update collateral values on commercial and residential real estate loans as assigned by senior management. They stay within the guidelines established by bank policy and maintain the highest level of confidentiality with all information obtained.
Mortgage assistants and loan assistants have different pay scales, as shown below.
| Mortgage Assistant | Loan Assistant | |
| Average salary | $33,961 | $36,962 |
| Salary range | Between $26,000 And $43,000 | Between $28,000 And $47,000 |
| Highest paying City | Rockville, MD | Olympia, WA |
| Highest paying state | West Virginia | Washington |
| Best paying company | DFCU Financial | University of California, Berkeley |
| Best paying industry | Professional | Finance |
There are a few differences between a mortgage assistant and a loan assistant in terms of educational background:
| Mortgage Assistant | Loan Assistant | |
| Most common degree | Bachelor's Degree, 53% | Bachelor's Degree, 51% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between mortgage assistants' and loan assistants' demographics:
| Mortgage Assistant | Loan Assistant | |
| Average age | 42 | 42 |
| Gender ratio | Male, 21.6% Female, 78.4% | Male, 18.2% Female, 81.8% |
| 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, 12.2% Unknown, 4.3% Hispanic or Latino, 15.4% Asian, 7.4% White, 60.2% American Indian and Alaska Native, 0.4% |
| LGBT Percentage | 7% | 7% |