There are better mortgage companies out there - Mortgage Loan Officer Lower Employee Review

2.0
Feb 11, 2022
Recommend
CEO approval
Business Outlook

Pros

Some of the people are cool, decent environment

Cons

Majority of the people who work for lower think they are hot stuff when really they are just your normal average sales person. High school drama everywhere you look including the higher management. Your training to become a loan officer is not structured and very confusing. They kinda teach you something once and after if you don’t remember it, they gilt you for not knowing it. The home equity line of credit product is a total scam. It seems like an unbelievable product at first, but when you become more knowledgeable within the mortgage industry, it absolutely hurts the borrowers credit score and always comes at a higher interest rate. The pay structure always changes for the worse. Once you make quota, management magically changes your comp plan to make a lot less. Also management loves to micromanage you, they HAVE to know where you are at all times. They even gilt you for missing work no matter what. The lead quality was okay, majority of the time people who apply for a home equity line of credit think they will get a stand alone second mortgage. Not the truth with lowers products. I left the company and made 6 figures else where. Less stress, better work life balance, better pay, better leads, better training. Don’t be that college kid that gets trick into this company

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.

1
See reviews by: Helpful|Rating|Date|All