How to hire a senior loan consultant

How to hire a senior loan consultant, step by step

Here's a step-by-step senior loan consultant hiring guide:

• Step 1: Identify your hiring needs
• Step 2: Create an ideal candidate profile
• Step 3: Make a budget
• Step 4: Write a senior loan consultant job description
• Step 5: Post your job
• Step 6: Interview candidates
• Step 7: Send a job offer and onboard your new senior loan consultant
• Step 8: Go through the hiring process checklist

Post a senior loan consultant job for free, promote it for a fee

Post free

1. Identify your hiring needs

   Before you start hiring a senior loan consultant, identify what type of worker you actually need. Certain positions might call for a full-time employee, while others can be done by a part-time worker or contractor.

   Determine employee vs contractor status

   Is the person you're thinking of hiring a US citizen or green card holder?

   Yes

   No

   You should also consider the ideal background you'd like them a senior loan consultant to have before you start to hire. For example, what industry or field would you like them to have experience in, what level of seniority or education does the job require, and how much it'll cost to hire a senior loan consultant that fits the bill.

   Here's a comparison of senior loan consultant salaries for various roles:

   Type of Senior Loan Consultant	Description	Hourly rate
   Senior Loan Consultant	Loan officers evaluate, authorize, or recommend approval of loan applications for people and businesses.	$12-20
   Escrow Officer	Escrow officers, commonly known as loan officers, are responsible for real estate processing and finalizing deals. They ensure all documents are authentic and prepared, property titles are clear, and financial obligations have been thoroughly met by the buyer and seller... Show more	$17-33
   Closer	The duties of a closer depend on one's line of work or industry of employment. Typically, their responsibilities revolve around liaising with clients to ensure that they understand and adhere to all terms of the agreement, completing all requirements and necessary documents, and maintaining records of all transactions... Show more	$9-19

   Show more

2. Create an ideal candidate profile

   Common skills:

   • Origination
   • Loan Applications
   • Loan Products
   • Escrow
   • FHA
   • Va
   • Loan Programs
   • Financial Services
   • Inbound Calls
   • Loan Origination
   • Business Relationships
   • Client Relationships
   • Fannie MAE
   • Credit Reports

   Check all skills

   Responsibilities:

   • Manage all HMDA reporting, and performing post-closing review of loan documentation.
   • Specialize in mortgage lending for customers with complex credit portfolios and government loan programs to include FHA and VA loans.
   • Originate loans through FHA and conventional lenders through knowledge of programs guidelines and availability, following all of RESPA guidelines.
   • Maintain customer files and documents in RESPA compliance.
   • Oversee entire mortgage process including application, origination, underwriting and closing.
   • Create and implement training protocol for new recruits across origination, processing and post-closing.

3. Make a budget

   Including a salary range in your senior loan consultant job description is one of the best ways to attract top talent. A senior loan consultant can vary based on:

   • Location. For example, senior loan consultants' average salary in arizona is 38% less than in minnesota.
   • Seniority. Entry-level senior loan consultants 36% less than senior-level senior loan consultants.
   • Certifications. A senior loan consultant with certifications usually earns a higher salary.
   • Company. Working for an established firm or a new start-up company can make a big difference in a senior loan consultant's salary.

   Average senior loan consultant salary

   $16.47hourly

   $34,256 yearly

   ---

   Entry-level senior loan consultant salary

   $27,000 yearly salary

   Updated December 20, 2025

4. Writing a senior loan consultant job description

   A good senior loan consultant job description should include a few things:

   • Summary of the role
   • List of responsibilities
   • Required skills and experience

   Including a salary range and the first name of the hiring manager is also appreciated by candidates. Here's an example of a senior loan consultant job description:

   Senior loan consultant job description example

   **LOAN DOCUMENT ADMINISTRATOR SENIOR**
   
   **WHAT IS THE OPPORTUNITY?**
   
   Responsible for the preparation of loan documents for commercial real estate and/or commercial construction loans, including new real estate construction. Obtain and review all necessary loan information to prepare adequate loan documents and takes appropriate action on any issues. Acts as liaison with internal and external sources coordinating loan analysis meetings, working with title and escrow companies as well as internal and external legal sources. Coordinates loan closing, ensuring that all loan documents are properly executed.
   
   **Commercial Real Estate Banking Division**
   
   Make your mark as a member of City National's Commercial Real Estate Banking group. Be part of the team that provides a comprehensive array of banking products and services to experienced real estate developers and investors including, but not limited to, acquisition, construction, bridge and permanent financing of commercial real estate. Product types include: Multifamily, Industrial, Office, Retail, Self-Storage, Senior Housing, and For-Sale Housing.
   
   **WHAT WILL YOU DO?**
   
   + Obtain and review all necessary loan information to prepare appropriate loan documents, including credit approvals, appraisals, borrowing authority documentation, contracts, CC&Rs, leases, permanent commitments, title information, request for demand, project budget and loan cost breakdown, release price schedule, and any additional information as needed to perfect the bank's position and reflect the terms of the credit approval. Take appropriate action on any issues that arise to meet the requested document due date.
   
   + Coordinate loan analysis meetings in accordance with established procedures, scheduling all required parties within 24 hours of receipt of an approved RELAR/PCMF and credit memo or within a reasonable amount of time upon receipt of a draft RELAR/PCMF and credit memo.
   
   + Prepare real estate loan documents (i.e., loan agreements, financing statements, notes, trust deeds, disclosure statements, etc.) based on knowledge of loan type and of bank and department policies and procedures. Participate in loan document negotiation with the borrower and relationship manager. Ensure compliance with all federal and state laws and regulations.
   
   + Work with the Legal Department or outside counsel when appropriate to coordinate the preparation of real estate documents or to obtain specific legal language as needed. Determine whether standard documents can be used, or if assistance from the Legal Department is required in the document preparation. Analyzes the organizational documents (i.e., partnership agreements, trust agreements, etc.).
   
   + Communicate with title officers to ensure that all title issues are satisfied and the loan is properly recorded and funded within established time frames.
   
   + Facilitate loan closing, ensuring that all loan documents are properly executed; comprehensive recording instructions to title company are prepared and delivery is verified; loan is recorded, booked and funded accurately and expeditiously. Establish reserve accounts and verify information is reflected in the loan documents and on the cost breakdown.
   
   + Review existing loan file for uncleared audit exceptions and prior to Loan Analysis Meeting.
   
   + Acts as liaison to other departments within the Bank to resolve questions pertaining to documentation; may contact customers or their professional representatives for responses to documentation or collateral questions as directed by supervisor or requested by Relationship Managers.
   
   + Reviews all completed documents to ensure that documents were signed by the borrower(s) and approved by the loan officers as appropriate; ensures completed loan documents are distributed within time completion guidelines.
   
   + Maintains current knowledge of real estate loan documentation through continued enrollment in Bank and other-provider courses related, but not limited to, computer-based lending, and the Community Reinvestment Act; remains abreast of additions and changes to federal and state legislation related to both commercial and real estate lending; keeps abreast of the climate of real estate and general business markets.
   
   + Updates and maintains Department Documentation Manuals.
   
   + Maintains a proactive commitment to established Bank programs, such as CustomerFirst, Community Reinvestment Act (CRA) and Equal Employment Opportunity.
   
   **WHAT DO YOU NEED TO SUCCEED**
   
   **Must-Have***
   
   + 5 years of experience in real estate documentation
   
   + 5 years of experience in a commercial bank or other financial institution
   
   + 4 years of basic computer experience required (e.g. Microsoft Word, Excel , Outlook, and Powerpoint)
   
   **Skills and Knowledge**
   
   **Compensation**
   
   Starting base salary: $36.08 - $45.45 per hour. Exact compensation may vary based on skills, experience, and location. This job is eligible for bonus and/or commissions.
   
   ***To be considered for this position you must meet at least these basic qualifications**
   
   The preceding job description has been designed to indicate the general nature and level of work performed by employees within this classification. It is not designed to contain or be interpreted as a comprehensive inventory of all duties, responsibilities, and qualifications required of employees assigned to this job.
   
   **INCLUSION AND EQUAL OPPORTUNITY EMPLOYMENT**
   
   City National Bank is an equal opportunity employer committed to diversity and inclusion. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, veteran status or any other basis protected by law.
   
   **ABOUT CITY NATIONAL**
   
   We start with a basic premise: Business is personal. Since day one we've always gone further than the competition to help our clients, colleagues and community flourish. City National Bank was founded in 1954 by entrepreneurs for entrepreneurs and that legacy of integrity, community and unparalleled client relationships continues to drive phenomenal growth today. City National is a subsidiary of Royal Bank of Canada, one of North America's leading diversified financial services companies.
   
   **Positions based in New York City:**
   
   In order to work on-site at City National Bank in New York City, you must be fully vaccinated against COVID-19, per city requirements. Shortly after your start date, you will be required to attest to your vaccination status and will be required to provide proof of vaccination.
   
   Equal Opportunity Employer Minorities/Women/Protected Veterans/DisabledCredit Administration

   Copy this example

   

5. Post your job

   To find the right senior loan consultant for your business, consider trying out a few different recruiting strategies:

   • Consider internal talent. One of the most important sources of talent for any company is its existing workforce.
   • Ask for referrals. Reach out to friends, family members, and current employees and ask if they know or have worked with senior loan consultants they would recommend.
   • Recruit at local colleges. Attend job fairs at local colleges to recruit senior loan consultants who meet your education requirements.
   • Social media platforms. LinkedIn, Facebook and Twitter now have more than 3.5 billion users, and you can use social media to reach potential job candidates.

   Post your job online:

   • Post your senior loan consultant job on Zippia to find and attract quality senior loan consultant candidates.
   • Use niche websites such as efinancialcareers, financialjobsweb.com, careerbank, financial job bank.
   • Post a job on free websites.

6. Interview candidates

   To successfully recruit senior loan consultants, your first interview needs to engage with candidates to learn about their interest in the role and experience in the field. You can go into more detail about the company, the role, and the responsibilities during follow-up interviews.

   You should also ask about candidates' unique skills and talents to see if they match the ideal candidate profile you developed earlier. Candidates good enough for the next step can complete the technical interview.

   The right interview questions can help you assess a candidate's hard skills, behavioral intelligence, and soft skills.

7. Send a job offer and onboard your new senior loan consultant

   Once you have selected a candidate for the senior loan consultant position, it is time to create an offer letter. In addition to salary, the offer letter should include details about benefits and perks that are available to the employee. Ensuring your offer is competitive is vital, as qualified candidates may be considering other job opportunities. The candidate may wish to negotiate the terms of the offer, and it is important to be open to discussion and reach a mutually beneficial agreement. After the offer has been accepted, it is a good idea to formalize the agreement with a contract.

   You should also follow up with applicants who don't get the job with an email letting them know that you've filled the position.

   After that, you can create an onboarding schedule for a new senior loan consultant. Human Resources and the hiring manager should complete Employee Action Forms. Human Resources should also ensure that onboarding paperwork is completed, including I-9s, benefits enrollment, federal and state tax forms, etc., and that new employee files are created.

8. Go through the hiring process checklist

   • Determine employee type (full-time, part-time, contractor, etc.)
   • Submit a job requisition form to the HR department
   • Define job responsibilities and requirements
   • Establish budget and timeline
   • Determine hiring decision makers for the role
   • Write job description
   • Post job on job boards, company website, etc.
   • Promote the job internally
   • Process applications through applicant tracking system
   • Review resumes and cover letters
   • Shortlist candidates for screening
   • Hold phone/virtual interview screening with first round of candidates
   • Conduct in-person interviews with top candidates from first round
   • Score candidates based on weighted criteria (e.g., experience, education, background, cultural fit, skill set, etc.)
   • Conduct background checks on top candidates
   • Check references of top candidates
   • Consult with HR and hiring decision makers on job offer specifics
   • Extend offer to top candidate(s)
   • Receive formal job offer acceptance and signed employment contract
   • Inform other candidates that the position has been filled
   • Set and communicate onboarding schedule to new hire(s)
   • Complete new hire paperwork (i9, benefits enrollment, tax forms, etc.)

   Sign up to download full list

   Sign up

How much does it cost to hire a senior loan consultant?