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The differences between mortgage originators and home mortgage consultants can be seen in a few details. Each job has different responsibilities and duties. It typically takes 4-6 years to become both a mortgage originator and a home mortgage consultant. Additionally, a home mortgage consultant has an average salary of $36,437, which is higher than the $31,380 average annual salary of a mortgage originator.
The top three skills for a mortgage originator include customer service, origination and bank products. The most important skills for a home mortgage consultant are customer service, financial professionals, and NMLS.
| Mortgage Originator | Home Mortgage Consultant | |
| Yearly salary | $31,380 | $36,437 |
| Hourly rate | $15.09 | $17.52 |
| Growth rate | 4% | 4% |
| Number of jobs | 11,164 | 53,987 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 66% | Bachelor's Degree, 72% |
| Average age | 45 | 45 |
| Years of experience | 6 | 6 |
A Mortgage Originator is someone who will work with a borrower to process and complete a home loan application. They work closely with loan processors and underwriters to collect the required documentation until it is approved. Mortgage Origniators are responsible for guiding clients through the approval stage by assisting them with the paperwork, determining the loan amount, and taking and verifying documentation. They guide borrowers in deciding which mortgage type is right for them.
Mortgage Consultants work to help people or businesses find the right lenders to get a mortgage from. They work with customers to find options that fit their current circumstances and financial capacity. They deal with lending institutions (banks, credit unions, mortgage bankers, or savings and loan associations) and act on behalf of potential borrowers to get the best deals. Consultants prefer working as independent contractors and not work for lending institutions and convince real estate agents to recommend them to clients when they apply for a loan.
Mortgage originators and home mortgage consultants have different pay scales, as shown below.
| Mortgage Originator | Home Mortgage Consultant | |
| Average salary | $31,380 | $36,437 |
| Salary range | Between $16,000 And $57,000 | Between $26,000 And $50,000 |
| Highest paying City | - | - |
| Highest paying state | - | - |
| Best paying company | - | - |
| Best paying industry | - | - |
There are a few differences between a mortgage originator and a home mortgage consultant in terms of educational background:
| Mortgage Originator | Home Mortgage Consultant | |
| Most common degree | Bachelor's Degree, 66% | Bachelor's Degree, 72% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between mortgage originators' and home mortgage consultants' demographics:
| Mortgage Originator | Home Mortgage Consultant | |
| Average age | 45 | 45 |
| Gender ratio | Male, 56.2% Female, 43.8% | Male, 62.7% Female, 37.3% |
| Race ratio | Black or African American, 10.0% Unknown, 4.7% Hispanic or Latino, 15.2% Asian, 6.1% White, 63.5% American Indian and Alaska Native, 0.5% | 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% |
| LGBT Percentage | 8% | 8% |