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The differences between senior credit analysts and mortgage consultants can be seen in a few details. Each job has different responsibilities and duties. While it typically takes 1-2 years to become a senior credit analyst, becoming a mortgage consultant takes usually requires 4-6 years. Additionally, a senior credit analyst has an average salary of $86,364, which is higher than the $38,934 average annual salary of a mortgage consultant.
The top three skills for a senior credit analyst include credit analysis, customer service and real estate. The most important skills for a mortgage consultant are customer service, origination, and NMLS.
| Senior Credit Analyst | Mortgage Consultant | |
| Yearly salary | $86,364 | $38,934 |
| Hourly rate | $41.52 | $18.72 |
| Growth rate | 17% | 4% |
| Number of jobs | 15,221 | 24,057 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 71% | Bachelor's Degree, 67% |
| Average age | 39 | 45 |
| Years of experience | 2 | 6 |
A senior credit analyst is responsible for reviewing the loan applications of an individual and organization, determining their eligibility by evaluating their credit scores and financial history. Senior credit analysts assess the applicant's capability to pay according to terms and conditions and loan payment plans. They submit recommendation reports of qualified applicants for further investigation and have them submit additional documents as needed. A senior credit analyst decides on credit limits and may provide the applicants' loan and credit alternatives, requiring them to have excellent knowledge of the financial industry and loan options.
A mortgage consultant is an individual who helps customers and businesses identify the best option for mortgage deals based on their financial resources. To maintain an excellent relationship with clients, mortgage consultants must possess a broad knowledge of the company's products to answer all the clients' queries and concerns. They help clients gather and analyze documents that are required for loan approval and create accurate mortgage information. They also develop relationships with banks and real estate agents to help promote bank mortgages for clients.
Senior credit analysts and mortgage consultants have different pay scales, as shown below.
| Senior Credit Analyst | Mortgage Consultant | |
| Average salary | $86,364 | $38,934 |
| Salary range | Between $59,000 And $125,000 | Between $23,000 And $63,000 |
| Highest paying City | White Plains, NY | New York, NY |
| Highest paying state | New York | New York |
| Best paying company | Apple | Centennial Bank |
| Best paying industry | Finance | Finance |
There are a few differences between a senior credit analyst and a mortgage consultant in terms of educational background:
| Senior Credit Analyst | Mortgage Consultant | |
| Most common degree | Bachelor's Degree, 71% | Bachelor's Degree, 67% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between senior credit analysts' and mortgage consultants' demographics:
| Senior Credit Analyst | Mortgage Consultant | |
| Average age | 39 | 45 |
| Gender ratio | Male, 54.6% Female, 45.4% | Male, 58.2% Female, 41.8% |
| Race ratio | Black or African American, 8.3% Unknown, 2.7% Hispanic or Latino, 9.9% Asian, 10.0% White, 68.8% American Indian and Alaska Native, 0.3% | Black or African American, 9.3% Unknown, 4.6% Hispanic or Latino, 16.2% Asian, 6.4% White, 62.9% American Indian and Alaska Native, 0.5% |
| LGBT Percentage | 11% | 8% |