Bait and Switch employment. - Mortgage Loan Officer Lower Employee Review

2.0
Jun 11, 2022
Recommend
CEO approval
Business Outlook

Pros

Easy Hiring Process. Fun atmosphere. Top notch training department. (When I was there, I’ve since heard that has changed for the worst.) Off work earlier on Fridays.

Cons

Everything else. Pay: Was told time and time again, that we were paid a base salary. Incorrect we were paid hourly. Which severely impacts your income when the expectation is that you work outside your working hours and aren’t compensated for it. We were actually told that we would not get paid overtime as your bonus would your payout. This is fine if your salaries, not hourly. This caused a severe reduction in earned income. Only 40 hours of PTO. That includes sick, vacation or personal time. If you have a life or kids, they won’t see you or you won’t get paid. Work place: though the atmosphere is fun and energetic below it there is cliques, backstabbing, malicious slander, sexual misconduct, gossip and management that need training in HR policies. Too often employee who has lives outside the office were condemned or viewed as the week link in the team. Ultimately we left this company feeling as though it was a sorority/fraternity house with a financial mission. Products for customers: time and time again, it was preached that we were helping people achieve homeownership. And for very qualified people that is true. As long as you have the money in place via gift or savings you can get a loan with Lower. Lower of little to no down payment assistance with outside orgs. This was seen as to cumbersome to the employees, so tell those customers go somewhere else. I’m sure that unintentionally this leads to hosting disparities I’m certain demographics. They also see it as a waste of time to handle lower loan amounts and if you do a loan under 100k, based on there pay structure it might be. Employment practices: when you look at the company with the eye test, minorities aren’t a part of management positions and make up only a unrealistic margin of the overall employment numbers. There is no diversity of color or thought within Lower.

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Lower Response
3y
We appreciate your feedback. We agree, our Training Team is top notch and ensure that every employee is set up for success! Our main goal, as a mission driven fintech, is to work with every customer to provide them a path to homeownership. We value Diversity and Inclusion and with that diversity of thoughts and experiences. In 2022, we have formed significant D&I relationships as well as formed numerous Employee Resource Groups. We continue to embed D&I into our Talent Acquisition outreach. Additionally, we continuously evaluate our benefits and have increased PTO for new employees from two weeks to three weeks. Best of luck in your career!

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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