The fall of a great thing. Not worth the stress now - Loan Advisor Lower Employee Review

1.0
Sep 7, 2022
Recommend
CEO approval
Business Outlook

Pros

The people are great. You build strong bonds with people going through the same pain as you.

Cons

I don’t want to repeat everything others are saying but the more we talk about it the more likely it is to change. -Work life balance will be not an option -Promotions are indeed based on popularity with the managers -The CEO is actually lost. I have not seen anyone talk about this particular example that made me realize I no longer wanted to work for the company. The employees were asked to complete a survey about the pros and cons of working at lower as I am sure they wanted to win another “best place to work” award. Based on the reviews here you can guess that the feedback was not good. During a Friday morning zoom call, the CEO mentioned that he was going to send a new survey to “filter out the surface level complaining”. I was blown away by this and sure enough, the next survey came. The survey just so happened to be missing questions related to the biggest problems. (Benefits, pay, happiness with managers). -Pay is attractive to those directly out of college since most students are used to making scraps during school to 40k base sounds like a dream. Until you realize that you are doing far more work than 40k is worth and you can go to literally any other company and make more with more benefits and overall security -Benefits. -They lie. About a lot actually. There is an equal part that we were being told things that people thought were true, but in the end we’re not. Which comes down to the complete lack of structure in the company. Lots of temporary fixes for big problems. They lied when they told us they would cover the costs of the tests and licensing. They cover the up front costs, then start deducting money from your paycheck without telling you to pay for the costs. The company used to be great, honestly. It was a phenomenal experience in the beginning. Any of the workers that were there in the beginning will tell you that. It also explains why the managers love their job so much (along side the pay of course). Lower then tried to do too much, or let the success go to their heads, because things tanked and they tanked fast. Many, and I mean many, of the top performers left for better opportunities. I was one of them. I chose to leave prior to the layoffs. I chose to wait several months before writing this review because I didn’t want it to come from a place of emotion, but rather logic.

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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