Mortgage loan counselor vs loan adviser

The differences between mortgage loan counselors and loan advisers can be seen in a few details. Each job has different responsibilities and duties. While it typically takes 1-2 years to become a mortgage loan counselor, becoming a loan adviser takes usually requires 4-6 years. Additionally, a mortgage loan counselor has an average salary of $45,635, which is higher than the $40,365 average annual salary of a loan adviser.

The top three skills for a mortgage loan counselor include customer service, FHA and loan process. The most important skills for a loan adviser are customer service, origination, and mortgage loans.

Mortgage loan counselor vs loan adviser overview

	Mortgage Loan Counselor	Loan Adviser
Yearly salary	$45,635	$40,365
Hourly rate	$21.94	$19.41
Growth rate	-3%	4%
Number of jobs	38,488	24,189
Job satisfaction	-	-
Most common degree	Bachelor's Degree, 54%	Bachelor's Degree, 52%
Average age	45	45
Years of experience	2	6

Mortgage loan counselor vs loan adviser salary

Mortgage loan counselors and loan advisers have different pay scales, as shown below.

	Mortgage Loan Counselor	Loan Adviser
Average salary	$45,635	$40,365
Salary range	Between $35,000 And $57,000	Between $28,000 And $56,000
Highest paying City	-	-
Highest paying state	-	-
Best paying company	-	-
Best paying industry	-	-

Differences between mortgage loan counselor and loan adviser education

There are a few differences between a mortgage loan counselor and a loan adviser in terms of educational background:

	Mortgage Loan Counselor	Loan Adviser
Most common degree	Bachelor's Degree, 54%	Bachelor's Degree, 52%
Most common major	Business	Business
Most common college	Stanford University	University of Pennsylvania

Mortgage loan counselor vs loan adviser demographics

Here are the differences between mortgage loan counselors' and loan advisers' demographics:

	Mortgage Loan Counselor	Loan Adviser
Average age	45	45
Gender ratio	Male, 39.6% Female, 60.4%	Male, 47.7% Female, 52.3%
Race ratio	Black or African American, 9.2% Unknown, 4.6% Hispanic or Latino, 16.1% Asian, 6.4% White, 63.2% American Indian and Alaska Native, 0.5%	Black or African American, 9.3% Unknown, 4.6% Hispanic or Latino, 16.1% Asian, 6.4% White, 63.1% American Indian and Alaska Native, 0.5%
LGBT Percentage	8%	8%

Differences between mortgage loan counselor and loan adviser duties and responsibilities

Mortgage loan counselor example responsibilities.

Innovate technical solutions, including development of complex macros within MSP, to automate work and reduce manual processes
Develop effective partnerships with non-profit organizations and community developments to improve origination of affordable housing loans for first time home buyers.
Help customers to bring their accounts current through negotiation and listening skills and programs that are available through Drivetime for assistance.

Loan adviser example 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.

Mortgage loan counselor vs loan adviser skills

Common mortgage loan counselor skills

Customer Service, 19%
FHA, 11%
Loan Process, 9%
Outbound Calls, 9%
Payment Arrangements, 8%
Loan Modifications, 4%

Common loan adviser skills

Customer Service, 44%
Origination, 14%
Mortgage Loans, 7%
Loan Process, 5%
Automated Underwriting, 4%
NMLS, 4%