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What does a Mortgage Consultant do?

Learn all about Mortgage Consultant duties, skills and much more. Get expert advice on how to become a Mortgage Consultant.

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Brenna Goyette
Certified Professional Resume Writer, Career Expert

Published 3 min read

A mortgage consultant is a professional who helps potential homebuyers find the best mortgage for their needs. Mortgage consultants work with banks, credit unions, and other financial institutions to find the best loan products for their clients. They also help clients understand the terms of their loans and guide them through the loan process.

Mortgage Consultant job duties include:

  • Act as a liaison between potential borrowers and lenders
  • Advise borrowers on their mortgage options, including terms and conditions
  • Help borrowers complete and submit mortgage applications
  • Gather and analyze financial information, such as income statements and asset documentation
  • Verify accuracy of borrower information and documentation
  • Obtain credit reports and scores for borrowers
  • Present loan proposals to lending institutions
  • Negotiate loan terms on behalf of borrowers
  • Coordinate loan closings

Mortgage Consultant Job Requirements

Mortgage Consultants typically need at least a bachelor's degree in finance, economics, or a related field. Certification from The Mortgage Bankers Association (MBA) is also preferred. Mortgage Consultants must have at least three years of experience in the mortgage industry.

Mortgage Consultant Skills

  • Analytical skills
  • Profit and loss analysis
  • Financial analysis
  • Finance
  • Real estate
  • Asset management
  • Mortgage banking
  • Loan origination
  • Loan servicing
  • Underwriting
  • Financial modeling

Related: Top Mortgage Consultant Skills: Definition and Examples

How to become a Mortgage Consultant

A mortgage consultant is a professional who helps people obtain loans to purchase property. Mortgage consultants work with banks, credit unions, and other financial institutions to help people get the best loan possible. They also work with real estate agents and home buyers to find the right property.

To become a mortgage consultant, you will need at least a bachelor’s degree in business, finance, or a related field. You will also need to have strong communication and interpersonal skills. Mortgage consulting is a regulated industry, so you will need to be licensed in your state.

If you are interested in becoming a mortgage consultant, start by researching the requirements in your state. Then, get your education and experience in the field. Once you are licensed, you can start working with clients to help them get the best loan possible.

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Related: Mortgage Consultant Interview Questions (With Example Answers)