Mortgage Planner Vs. Loan Officer

By Vladimir Rozumniy

If you are in the market for a new home, chances are you are also in the market for a mortgage. That means you will need to have someone to help you create and then apply for the perfect mortgage. There are many different options out there when you apply for your mortgage, from interest-only mortgages to ARMs to fixed rate mortgages, so you need to choose this professional carefully. You may choose either to work with a loan officer or to work with a certified mortgage planning specialist. To make the right decision, you need to first understand the differences between these two professionals.

A loan officer typically works for a financial institution offering mortgages. In order to become a loan officer, an individual must first have earned a bachelor’s degree in finance or another similar field. After finishing college, a loan officer may have found work at a bank in an entry-level position to learn the industry, but this is not always a requirement for the job.

The loan officer’s job is to find and recruit customers who are in need of mortgages or other loans and then help them successfully apply for these loans. This often turns into a sales role, as the loan officer attempts to get the borrower to sign up for a loan with a particular lender. Loan officers will work with real estate agents to get their customers. The officer will work carefully to build relationships with these agents so that the agents will recommend the officer’s mortgage company to their clients.

Sometimes loan officers will try to help you