Great place to start, bad place to stay - Loan Advisor Lower Employee Review

2.0
Aug 17, 2022
Recommend
CEO approval
Business Outlook

Pros

I’ve met people that I 100% will be in touch with for a long time. Great people that work there and during the “all time low rates” the company really was the place to be of course.

Cons

Lots of areas to touch in but I will keep it simple. The pay you wanted was obtainable when rates were great. The problem was the adjustment when things started to spike. It was like upper management thought it would last forever (it doesn’t work like that). Plus in my region upper management was full of great sales people who frankly had no business managing a group of people. Metrics were constantly increasing during a rate hike and it was physically impossible to demand as much volume that was produced before! After metrics weren’t getting hit was when bad management fell into play by trying to reinvent the wheel and actually threatening jobs. Once that started nobody on the floor was comfortable and resumes across the board were being updated. Micromanaging increased and day to day life suffered. Then layoffs started happening by the masses and it was a scary environment. I pray for the people who are still there. Anyways, the sick/PTO days were combined into 3 weeks. And management would demand us to come into the office even if you fell ill and thought you had Covid… 401k was absurdly low. It feels wrong to keep going on about the bad things that happened here, but read the reviews below and you’ll see it’s a common theme.

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Lower Response
3y
We appreciate the feedback. The industry has had it’s challenges this year and our teams are working hard to ensure that we are updating processes and procedures to adapt. We wish you the best!

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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