Mortgage consultants, AKA mortgage brokers, are finance professionals who help people buy homes and investment properties with financing that fits their circumstances. The consultant’s relationship with buyers includes:
- helping buyers understand the arbitrary rules of mortgage lending
- presenting buyers with realistic buying options
- advising them on making a choice that fits their needs and financial resources
Knowledge: In general, the mortgage consultant needs in-depth knowledge about the mortgage industry, enabling them to:
- provide accurate current mortgage rate and product information to buyers
- communicate effectively with lenders
- help clients get approved through inside knowledge of lender practices
- manage loan documents, the loan process, and closing
Skills: A good mortgage consultant will excel and make their clients happy if they have skills in all of these areas:
- Communication — the ability to listen to clients, understand their needs, and explain mortgage details clearly
- Social — empathy and respect for clients during stressful transactions
- Math — the ability to compile complicated data and interpret it to compare loan offerings
- Detail — accurately tracking calculations and statuses for many clients concurrently
- Decision-making — using reason and experience to help clients choose an option they will be happy with
- Desire for mutual success — using their experience and skills to help a client close on a loan