Good place to start, not to stay - Loan Officer Lower Employee Review

3.0
Apr 16, 2020
Recommend
CEO approval
Business Outlook

Pros

They do a good job teaching how to sell a beneficial loan and understand the basics of originating a mortgage. I really liked my direct manager.

Cons

Once you have a foundation of knowledge they don't have good resources to continue expanding your knowledge. Very limited on products you can sell. Not competitive on rates and fees, like at all - they are not LOWER than anyone. They change your compensation agreement constantly, which is my biggest negative. 401k and benefits are very weak. Technology is also not very good. Turn times, processing and underwriting are not the best. Usually your loans take 45 days to close.

avatar
Lower Response
6y
As mentioned we have a robust training program to teach our team members selling techniques and mortgage knowledge. For most of our new team members this is their first position in the mortgage industry and having that foundation of knowledge is our top priority. In our sales training's we focus on the entire picture, not just selling the lowest rate, but understanding a borrowers financial situation to put them in the best position possible. Once comfortable in the role the training goes from daily to once a week. The weekly training's for our Senior Loan Advisor's focuses more on sharing best practices, changes in programs and fine tuning selling techniques. In addition to our general training, we provide Leadership Training for our AVP staff and hosted a Leadership Development Speaker Series to further personal and professional growth. To stay competitive with changes in the industry we do occasionally need to adjust compensation. We make these changes in order to provide better products to our borrowers and more opportunities to our staff which results in more business for our Loan Advisor's. These changes are not taken lightly or made frequently, they are made only when we see a unique opportunity to provide more business to our team members. If you had any questions on how it benefited you, I would have encouraged you to speak with your manager about the change to clear up any misconceptions.

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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