Scaled too Quickly, Backpedaled and Sacrificed - Mortgage Advisor Lower Employee Review

3.0
Feb 6, 2019
Recommend
CEO approval
Business Outlook

Pros

Lower was a great company to work for in many respects. Culture was great, and for the most part it was fun to go to work every day. Training was a top priority and almost every day of the week there was some type of employee development, whether it was industry-related or just personal/professional.

Cons

You are in the office 9-6 most days, which doesn't leave much time for family life. And of course, clients call you 24/7, which would be fine if you could clock those hours while you're fielding those calls, but you're advised not to by some managers. If you are young and don't have a family, this might be a good fit for you. My pay structure changed 4 times in the 1.5 years I worked at the company, which to me, says the company was a little lost. I hope that it has since figured things out and will give its employees better expectations of their compensation. I was also extremely bored the last 5 months of my time there. The company seemed to have stopped buying us leads (they stated that they still were, but that because of external factors, our clientele just weren't as interested in refinancing or purchasing at that time, which can happen in the industry). There also seemed to be a lot of favoritism and slight nepotism (in the sense that they favored those who had been with the company the longest, and not necessarily basing their favoritism on merit) and even at times veterans were given cherry-picked leads while the "newer" (those there less than 2 years, say) ones were hoping and waiting for new business to come through. The company seemed to try to grow too quickly and had to backpedal when low conversion on leads meant they had to change pay structure from base plus commission to commission only, thus weeding out anyone who was just starting out or had lower volume in sales.

avatar
Lower Response
6y
Thank you for your feedback! We are continuously looking for areas of improvement. Although there are changes within the company, it is crucial in order for company growth. Since we allow our employees to clock their own hours manually, it is highly encouraged to enter in all time that is worked so that you are paid properly. In addition, we operate on a draw, which means that you receive your base rate or commission, whichever is the greater amount. This means that if you exceed your base amount in commissions for pay period, you will receive your commissions. Overall, we are very open to receiving feedback on business operations. If you have any additional feedback or areas of improvement, please let us know!

Explore other reviews about Lower

5.0
Mar 20, 2026
Recommend
CEO approval
Business Outlook

Pros

-incredible earning potential -supportive management that cares about the LO's -All the tools supplied to succeed -Great work culture, lots of fun events -Communication between team members

Cons

- sometimes files take longer than expected to close - unexpected variables in the loan process

avatar
Lower Response
1mo
Thank you for taking the time to share your feedback! I'm glad you value the great work culture and supportive management. We understand some files take longer than expected to close. Lower is continously working to streamline and approve our processes to help our borrowers.
1.0
Apr 6, 2026
Recommend
CEO approval
Business Outlook

Pros

There are limited pros working at Lower. Based on my experience, I would only recommend working here if you're new to the industry. Get licensed, learn the basics, and leave after a year.

Cons

If you have been in the industry for more than a year, you know products, you know guidelines, you know how to sell. That said, find a company with a comp plan that makes sense with a rate sheet that actually benefits the consumer. Ironically, rates at Lower at the Highest in the industry. You'll be asking borrowers to take on a 30-year-fixed -rate mortgage that's 50bps (or more) higher than the industry. On top of the higher pricing, you get paid a fraction of what other loan officers make. Instead of $20K/mo commissions, you'll be making $3K at best. The hourly rate is a recoverable draw so you're making $60K while other loan officers are making $200K+ per year. If that wasn't enough, your loans will sit in process FOREVER. No one knows what's going on. From VP to processor, there is zero communication. Loans will fallout left and right.

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