A mortgage consultant helps customers and businesses identify the best option for mortgage deals considering their financial resources. With their knowledge of the company's products, he/she answers all the queries and concerns of the clients. He/She assists the client in gathering and analyzing documents that are required for loan approval and helps them create accurate mortgage information. Additionally, he/she builds relationships with banks and real estate agents to help promote bank mortgages for clients. Lastly, he/she negotiates rates and terms with lenders to aid the refinancing of existing mortgages.

Becoming a mortgage consultant requires just a high school diploma and a license. However, if you want to specialize in commercial mortgages, you need a bachelor's degree in economics or finance. Having relevant certifications is a plus. You must possess analytical, negotiation, and communication skills. Mortgage consultants make an average salary of $40,264 annually, equivalent to $19.36 per hour. This varies from $28,000 to $56,000.

What Does a Mortgage Consultant Do

There are certain skills that many mortgage consultants have in order to accomplish their responsibilities. By taking a look through resumes, we were able to narrow down the most common skills for a person in this position. We discovered that a lot of resumes listed detail oriented, initiative and interpersonal skills.

Learn more about what a Mortgage Consultant does

How To Become a Mortgage Consultant

If you're interested in becoming a mortgage consultant, one of the first things to consider is how much education you need. We've determined that 66.6% of mortgage consultants have a bachelor's degree. In terms of higher education levels, we found that 6.5% of mortgage consultants have master's degrees. Even though most mortgage consultants have a college degree, it's possible to become one with only a high school degree or GED.

Learn More About How To Become a Mortgage Consultant

Mortgage Consultant Career Paths

Average Salary for a Mortgage Consultant

Mortgage Consultants in America make an average salary of $38,934 per year or $19 per hour. The top 10 percent makes over $63,000 per year, while the bottom 10 percent under $23,000 per year.
Average Mortgage Consultant Salary
$38,934 Yearly
$18.72 hourly

What Am I Worth?


Roles and Types of Mortgage Consultant

The role of a mortgage consultant includes a wide range of responsibilities. These responsibilities can vary based on an individual's specific job, company, or industry.Here are some general mortgage consultant responsibilities:

  • Develop knowledge of company products, policies
  • May lead the work of others
  • Generate new wholesale business by identifying

There are several types of mortgage consultant, including:



Consultants are essential to businesses that want to improve their performance. Typically, consultants advise these businesses in many areas such as operations, profitability, management, and even structure.

Consultants have their work cut out for them because their advice can stretch over so many different areas. You may need some expertise in management, strategy, human resources, finance, and IT (just to name a few fields).

In addition to having all of this knowledge, consultants typically work long hours, we're talking an average of 56 hours a week, but many work even beyond that, to around 70-80 hours. Spending that many hours at the office, you'll probably end up with some good friends, at least.

  • Average Salary: $78,912
  • Degree: Bachelor's Degree

Loan Officer


If you want to be in charge of whether people are issued loans or not, then becoming a loan officer is a great place to start. Most generally, your day will consist of evaluating, authorize and even recommending approval for people or businesses that have submitted a loan application.

While movies generally paint loan officers in a bad light, these people are just doing their jobs. The majority of the time, the people asking for a loan don't even qualify. For the most part, loan officers work in banks and other financial institutions. And it's recommended that you earn a bachelor's degree. But the majority of your education will come from learning on-the-job. You'll be turning loans down left and right after no time!

  • Average Salary: $45,817
  • Degree: Bachelor's Degree



An underwriter decides who gets insurance cover. Your role will be studying insurance proposals, studying the background information of the clients, and deciding how much should be paid out. You will be liaising with professionals and those specialized to help judge the risk assessment. By doing so, you will write policies and add specific conditions when required. Similarly, you will be involved in negotiating terms with the clients. In addition, you will select the appropriate and competitive premiums based on information and judgment and deciding whether the risk should be shared.

Employers will always look out for graduates, most especially in the field of accounting, finance, business, and management. You must be able to use your initiative, have good negotiating skills, and be a great communicator. Skills required also include good judgment and a great decision-maker, especially when under pressure. Knowledge of technical information is also an added advantage. You will earn an average of $68,217 yearly or $32.8 hourly.

  • Average Salary: $61,751
  • Degree: Bachelor's Degree

States With The Most Mortgage Consultant Jobs

Mouse over a state to see the number of active mortgage consultant jobs in each state. The darker areas on the map show where mortgage consultants earn the highest salaries across all 50 states.

Average Salary: Job Openings:

Number Of Mortgage Consultant Jobs By State

RankStateNumber of JobsAverage Salary
5New York755$60,549
8North Carolina657$53,149
13New Jersey527$54,103
28South Dakota206$55,066
31South Carolina189$37,118
39Rhode Island98$54,507
41New Hampshire79$47,195
43New Mexico76$50,477
45North Dakota63$46,048
46West Virginia59$43,543

Mortgage Consultant Education

Mortgage Consultant Majors

38.1 %
11.0 %

Mortgage Consultant Degrees


66.6 %


15.5 %

High School Diploma

6.7 %

Top Colleges for Mortgage Consultants

1. University of Pennsylvania

Philadelphia, PA • Private

In-State Tuition




2. Northwestern University

Evanston, IL • Private

In-State Tuition




3. University of Southern California

Los Angeles, CA • Private

In-State Tuition




4. SUNY at Binghamton

Vestal, NY • Private

In-State Tuition




5. Villanova University

Villanova, PA • Private

In-State Tuition




6. San Diego State University

San Diego, CA • Private

In-State Tuition




7. Bentley University

Waltham, MA • Private

In-State Tuition




8. Boston University

Boston, MA • Private

In-State Tuition




9. SUNY Stony Brook

Stony Brook, NY • Private

In-State Tuition




10. New York University

New York, NY • Private

In-State Tuition




Top Skills For a Mortgage Consultant

The skills section on your resume can be almost as important as the experience section, so you want it to be an accurate portrayal of what you can do. Luckily, we've found all of the skills you'll need so even if you don't have these skills yet, you know what you need to work on. Out of all the resumes we looked through, 21.7% of mortgage consultants listed customer service on their resume, but soft skills such as detail oriented and initiative are important as well.

Choose From 10+ Customizable Mortgage Consultant Resume templates

Zippia allows you to choose from different easy-to-use Mortgage Consultant templates, and provides you with expert advice. Using the templates, you can rest assured that the structure and format of your Mortgage Consultant resume is top notch. Choose a template with the colors, fonts & text sizes that are appropriate for your industry.

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Mortgage Consultant diversity

Mortgage Consultant Gender Distribution


After extensive research and analysis, Zippia's data science team found that:

  • Among mortgage consultants, 41.8% of them are women, while 58.2% are men.

  • The most common race/ethnicity among mortgage consultants is White, which makes up 62.9% of all mortgage consultants.

  • The most common foreign language among mortgage consultants is Spanish at 62.8%.

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Best States For a Mortgage Consultant

Some places are better than others when it comes to starting a career as a mortgage consultant. The best states for people in this position are New York, Maryland, Connecticut, and South Dakota. Mortgage consultants make the most in New York with an average salary of $60,549. Whereas in Maryland and Connecticut, they would average $58,684 and $55,889, respectively. While mortgage consultants would only make an average of $55,066 in South Dakota, you would still make more there than in the rest of the country. We determined these as the best states based on job availability and pay. By finding the median salary, cost of living, and using the Bureau of Labor Statistics' Location Quotient, we narrowed down our list of states to these four.

1. South Dakota

Total Mortgage Consultant Jobs: 206
Highest 10% Earn:
Location Quotient:

2. Rhode Island

Total Mortgage Consultant Jobs: 98
Highest 10% Earn:
Location Quotient:

3. Maine

Total Mortgage Consultant Jobs: 92
Highest 10% Earn:
Location Quotient:
Full List Of Best States For Mortgage Consultants

How Do Mortgage Consultants Rate Their Jobs?

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Top Mortgage Consultant Employers

Most Common Employers For Mortgage Consultant

RankCompanyAverage SalaryHourly RateJob Openings
1PHH Corporation$44,384$21.34105
5JPMorgan Chase & Co.$35,236$16.94127
7Guaranteed Rate$34,011$16.3562
8Quicken Loans$33,949$16.32202
9Bank of America$33,721$16.21225
10Wells Fargo$33,697$16.20918

Mortgage Consultant Videos

Becoming a Mortgage Consultant FAQs

How Does A Mortgage Consultant Get Paid?

A mortgage consultant gets paid by commissions or fees that the lender usually pays after the loan has closed. Mortgage consultants work as middlemen between borrowers and banks/lenders and, as such, can be paid by either party.

How Much Does A Mortgage Consultant Make Per Loan?

A mortgage consultant makes a 1% to 2% commission of the loan they find for clients. Overall, the mortgage consultant commission rate may vary slightly per loan, but it typically ranges from 0.50% to 2.75% of the loan principal. However, federal laws cap fees at 3% and require that broker fees not be linked to the interest rate.

What Does It Take To Be A Mortgage Consultant?

To be a mortgage consultant takes a high school diploma and a license. The license takes anywhere from 1 to 3 years to complete and requires hands-on experience working with mortgages. There are several steps you can take to give you what it takes to help you on your journey in becoming a mortgage consultant.

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