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Making the Decision to Work with a Mortgage Consultant

Written by:  

Mike Tassone

Mike is a Co-Founder and Chief Operating Officer of Own Up. He has expertise in all areas of residential lending, having led operations for a top 40 lender in the United States.

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Fact Checked by:  

Patrick Boyaggi

Patrick Boyaggi

Patrick Boyaggi

CEO an Co-Founder

Patrick is the Co-Founder and CEO of Own Up. He has a wealth of experience and knowledge as a mortgage executive.

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A women sitting at an office table pointing to a contract with a pen, while another hand signs the paper

The mortgage process is full of complexities, from figuring out what you can afford to navigating the different loan options available to you. With so many variables to consider, it's easy to feel lost and unsure of what to do.

But what if there was someone who could guide you through every step of the process? Someone who could answer your questions and help you make informed decisions? Well, there is! This someone is a mortgage consultant.

The expertise that a mortgage consultant brings to the table can make all the difference when buying a home, but many prospective homebuyers wonder if it's worth it. After all, a mortgage consultant may come at a substantial additional cost. At the same time, you may be wondering if you can handle the process on your own. So, is a mortgage consultant right for you?

What are Mortgage Consultants?

Let’s start with answering a basic question: What is a mortgage consultant?

Mortgage consultants are professional advisors who specialize in helping individuals and families secure a mortgage loan to purchase a home. They are experts in the mortgage industry and have a thorough understanding of the different loan options that are available.

The role of a mortgage consultant is to work with clients to assess their financial situation, understand their home buying goals, and match them with the best mortgage options available.

  • They provide expert guidance and support throughout the mortgage process, from pre-approval to closing.
  • They help clients navigate the often complex and confusing process of obtaining a mortgage and avoid common mistakes.
  • They help ensure that clients make informed decisions that are in their best interests and find the right mortgage program for them, making the mortgage process as stress-free as possible.

Mortgage consultants are not lenders themselves. They are typically mortgage loan officers. They are licensed representatives, and they work for a bank, mortgage company, or mortgage brokerage, but oftentimes they work independently with a variety of lending institutions. They aim to secure the best loan options for their clients.

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What are the Benefits of Working With a Mortgage Consultant?

There are several primary benefits to working with a mortgage consultant.

Expertise & Experience

A mortgage consultant should have the expertise and experience to navigate the complex and ever-changing mortgage landscape. They are likely well-versed in the latest regulations, policies, and programs that can impact your mortgage options and help you understand the process. They can guide you through the maze of mortgage options, rates, and terms, so you can make an informed decision about which mortgage is right for you.

Access to Lenders and Programs

A mortgage consultant may also have access to a wide network of lenders and mortgage programs, which means they can find you the best mortgage options based on your specific needs and financial situation. They can help you find the right mortgage program that meets your needs, whether you are a first-time homebuyer, a seasoned investor, or anything in between.

Saving Time & Money

A mortgage consultant can save you time and money by helping you avoid costly mistakes and navigating the mortgage process more efficiently. They can help you avoid mishaps such as overpaying for your mortgage or not securing the best possible interest rate. They will also likely handle all the paperwork and negotiations with lenders on your behalf, which can save you hours of time and stress.

Stress-Free Home Buying Experience

Buying a home can be stressful, especially if you are unfamiliar with the mortgage process. A mortgage consultant can provide you with peace of mind by guiding you through the process and helping you make informed decisions. They will help you understand the steps involved in getting a mortgage, what to expect during the closing process, and how to make the most of your home-buying experience.

Long-Term Benefits

Working with a mortgage consultant can provide you with long-term benefits. They can help you create a roadmap for homeownership that meets your current and future goals. They can also provide ongoing support and advice to help you stay on track and reach your financial goals.

How do Mortgage Consultants Work?

Mortgage consultants typically work in the following way:

1. Initial Consultation

The first step is for the mortgage consultant to understand the client's financial situation and home buying goals. They will discuss the client's budget, credit score, and employment status, among other things, to get a complete picture of their financial situation.

2. Loan Pre-Approval

Once the mortgage consultant has a good understanding of the client's financial situation, they will work with the client to pre-approve them for a mortgage loan. This means they will help the client determine how much they can afford to borrow and what their monthly mortgage payments will be.

3. Loan Comparison

The mortgage consultant will then compare different loan options to find the best one for the client. They will consider factors such as interest rates, loan terms, and fees to determine the best option for the client's unique needs.

4. Application Submission

Once the client has chosen the best loan option, the mortgage consultant will help them submit their loan application. They will work with the lender to ensure that all necessary documentation is completed and submitted in a timely manner.

5. Closing Process

The mortgage consultant will then guide the client through the closing process. They will help the client understand all the documentation and requirements necessary for closing, and they will ensure that everything is completed on time.

Ongoing Support

After the loan has been approved and the closing process is complete, the mortgage consultant will continue to provide ongoing support. They will be available to answer any questions or concerns the client may have about their mortgage, and they will help the client stay on track with their monthly payments.

How can I find a Mortgage Consultant?

There are several ways you can find a mortgage consultant, including:

You can search online for mortgage consultants in your area using search engines such as Google or Bing. You can also use online directories to find a mortgage consultant near you.


You can ask for referrals from friends, family, or real estate agents. They may have had a positive experience with a mortgage consultant and can refer you to someone they trust.

Banking Institutions

You can contact your local banking institutions, such as banks and credit unions, to see if they have a mortgage consultant on staff. Many banks have in-house mortgage consultants who can help you with your mortgage needs.

Professional Organizations

You can also search for mortgage consultants who are members of professional organizations, such as the National Association of Mortgage Brokers or the Mortgage Bankers Association.

State Licensing Boards

You can check your state's licensing board to see if the mortgage consultant you are considering is licensed and in good standing.

Bottom Line

It's important to choose a mortgage consultant who is knowledgeable, experienced, and trustworthy. You should also feel comfortable working with the consultant and feel confident in their ability to help you secure the best mortgage loan for your needs. It may be helpful to interview several mortgage consultants before making a final decision, to ensure you find the right one for you.

If you are considering buying a home, it's also worth considering working with a mortgage consultant. They can likely provide you with expertise, access to lenders and programs, time and money savings, a stress-free home buying experience, and long-term benefits. With a mortgage consultant by your side, you are likely to feel more confident in your decisions and confident that you're getting the best mortgage options available.

See What You Qualify For

See What You Qualify For


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The information provided to you in Own Up blog is intended to be for general informational and educational purposes only and does not constitute legal or tax advice. This blog is not a substitute for obtaining legal or tax advice from a qualified professional. The views and opinions expressed on this blog are solely those of the authors and do not necessarily reflect the official policy or position of Own Up or describe Own Up's business model. Own Up makes no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the blog or the information, products, services, or related graphics contained on the blog for any purpose. Any reliance you place on such information is therefore strictly at your own risk.