How To Become A Mortgage Loan Specialist: What It Is and Career Path

What is a mortgage loan specialist and how to become one

Updated January 8, 2025

3 min read

Finding a good mortgage loan is easier said than done. Luckily, there are mortgage loan specialists that can help you find the best mortgage loan based on your needs, wants, and financial capabilities.

The workflow of a mortgage loan specialist starts with meeting the clients to determine their financial status and identify their housing needs. Then, they conduct research and use their network to find the best type of loan or financial assistance to offer to clients. Afterward, a mortgage loan specialist helps clients apply for loans or financial programs, often through assisting with documentation and overseeing the financing process.

The work of a mortgage loan specialist requires a good understanding of mortgages, financing, and government programs. With that in mind, an educational background in finance or business can be highly advantageous. Furthermore, a mortgage loan specialist must have adequate experience in the mortgage process and ideally should have a wide network of lenders.

On average, the salary of a mortgage loan specialist is around $31,000 per year. However, there are some mortgage loan specialists that earn as much as $41,000 annually.

ScoreMortgage Loan SpecialistUS Average

Salary

3.2

Avg. Salary $41,186

Avg. Salary $59,228

Stability level

8.6

Growth rate -3%

Growth rate 0.3%

Diversity

8.2

Race

American Indian and Alaska Native 0.41%

Asian 7.70%

Black or African American 13.35%

Hispanic or Latino 14.45%

Unknown 4.37%

White 59.72%

Gender

female 66.12%

male 33.88%

Age - 41

Race

American Indian and Alaska Native 3.00%

Asian 7.00%

Black or African American 14.00%

Hispanic or Latino 19.00%

White 57.00%

Gender

female 47.00%

male 53.00%

Age - 41

Stress level

8.6

Stress level is very high

7.1 - high

Complexity level

6.9

Complexity level is challenging

7 - challenging

Work life balance

5.2

Work life balance is fair

6.4 - fair

Key steps to become a mortgage loan specialist

Explore mortgage loan specialist education requirements

Most common mortgage loan specialist degrees

Bachelor's

56.2 %

Associate

20.4 %

High School Diploma

12.4 %

Start to develop specific mortgage loan specialist skills

Skills	Percentages
Customer Service	20.60%
FHA	7.60%
Escrow Accounts	5.49%
Underwriting Approval	5.27%
Loan Process	4.17%

Complete relevant mortgage loan specialist training and internships

Accountants spend an average of 1-2 years on post-employment, on-the-job training. New mortgage loan specialists learn the skills and techniques required for their job and employer during this time. The chart below shows how long it takes to gain competency as a mortgage loan specialist based on U.S. Bureau of Labor Statistics data and data from real mortgage loan specialist resumes.

Research mortgage loan specialist duties and responsibilities

Time management and organization skills to effectively prioritize multiple objectives and achieve volume goals.
Investigate and resolve, borrower complaints, inquiries and disputes in accordance with RESPA establish procedures.
Clear post-closing FHA and VA deficiency items to ensure loans meet federal loan guidelines and ensure they are salable.
Process FHA and VA loan information, post-closing, ensure that initial payments receive were forward to the proper department.

Prepare your mortgage loan specialist resume

When your background is strong enough, you can start writing your mortgage loan specialist resume.

You can use Zippia's AI resume builder to make the resume writing process easier while also making sure that you include key information that hiring managers expect to see on a mortgage loan specialist resume. You'll find resume tips and examples of skills, responsibilities, and summaries, all provided by Zippi, your career sidekick.

Choose from 10+ customizable mortgage loan specialist resume templates

Build a professional mortgage loan specialist resume in minutes. Browse through our resume examples to identify the best way to word your resume. Then choose from 10+ resume templates to create your mortgage loan specialist resume.