Good company to work for. Some growing pains - Senior Loan Officer Lower Employee Review

4.0
Sep 15, 2020
Recommend
CEO approval
Business Outlook

Pros

I work with some fantastic people that are always willing to give a hand. I think there have been some challenges with Covid and I think they have done the best they can.

Cons

My biggest concern I see is a disconnect between wanted people to stay long term and grow with this company and company benefits seem to indicate, “we are planning for you to leave.” For example, our 401k matches are designed where you can really take a lot of benefit from the little match provided until 5 years out. Vacation time is earned per week not just given upfront. If you go on a vacation every year... depending on when you go... you might be staring at negative hours for the better part of the year. These seem like like things, but to me the really do not vibe with the message come work here and stay. Also, switching gears, I think this company is growing and I think that is fantastic. But I don’t always think support is provider for new people... especially when stuck at home. Some people are not use to the emotions involved in sales and don’t see that being addressed as it should. “I know it stinks but just do it.” Isnt really a good tactic”

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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