Bait and Switched - Loan Officer Lower Employee Review

1.0
Mar 1, 2022
Recommend
CEO approval
Business Outlook

Pros

There are none that I can think of.

Cons

This place pulled off the greatest bait and switch I’ve ever seen. I left a really good company, with great benefits and a job I liked because they really sold the dream. A few things promised in the interview that they are now saying would have never happened Schedule/ 4 day work week - non existent for remote employees. They only offer it to those in office. They also expect you to he available 24/7, but tell you not to clock the hours since it’s just “how loan officers work”. Great culture - also non existent. They really only like you if you are in the office. If you are a remote employee, prepare to feel excluded. The Ohio office gets amazing perks, like free lunches, free hair stylists, off early on fridays, etc. but if you are part of the remote team, you get none of that. You aren’t even invited to big company meetings. Base pay - I was told in the hiring process that I would be paid a base Pay and it was taxed as such. No one explained to me that it was actually an advance on commission, and taxed as such, and if you leave the company before you make that much back, you owe it back to them. Benefits - wow, they really sold you on benefits but they suck. Health insurance is free, hit the deductible is more than I would make here in 4 months. You can pay $400 for a better plan, but then the deductible is still thousands and thousands. Also, they make you use your personal phone for your “24/7” availability but refuse to give you a stipend for it. Overall, this company claims to be a progressive fintech company but it’s honestly just another glorified call center. Over 2 months in and I’m still waiting for my 4 day work week, the hot leads they promised, and the big money and great culture that “everyone benefits from”. Avoid this place at all costs.

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

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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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