Mortgage Consultant Career


Career Description:-

A Mortgage consultant is required to adapt his works according to the laws of the country in which he/ she is working. Mortgage Consultant is required to advise the client for an adequate home loan product. They study the credit reports and income statement of their client and suggest the best available loan for them and are entrusted with the task of explaining the legal terms present in a mortgage contract.

How to become a Mortgage Consultant:-

Those who are interested in pursuing a career as mortgage consultant must possess a keen interest in the laws of the various lands. A firm knowledge about the real estate market is a prerequisite for becoming a mortgage consultant.

Mortgage Consultant courses, training program:-

The essential qualification varies according to the state. Some states require the aspirants to complete a bachelor’s degree while some states just require an essential training class. Some states just want an experience of some years as the essential condition. Aspirants must contact the state department of banking or consumer affair of their region to gain more insights into the qualification criterion.

Mortgage Consultant career schools/ colleges, education:-

Mortgage consultants can take up a certification course at National Association of Mortgage Brokers (NAMB). Three credentials are offered at NAMB namely General Mortgage Associate, Certified Residential Mortgage Specialist and Certified Mortgage Consultant. The programs are designed on the basis of experience in the field of mortgage consultancy. This certification is valid for three years.

Top 5 colleges/ universities:-

  • Oregon University
  • Iowa State University
  • Columbia University
  • North-western University
  • College of William and Mary

Mortgage Consultant job opportunities, salary/pay:-

Mortgage consultant can be recruited in broking houses or banks. The salary for mortgage consultants with one to four years experience varies within $29,051 to $59,665. Those with experience of 10 to 19 years get $34,638 to $63,985 as salary. More than $70,000 is earned by individuals with experience of more than 20 years.

Category: Banking Careers

Leave a Reply


× eight = 32