Loan Counselor Salary
The average pay for a Loan Counselor is $14.40 per hour. Most people move on to other jobs if they have more than 10 years' experience in this field.
$11.21 - $19.76
Job Description for Loan Counselor
- Refinance outstanding balance and negotiate repayment plans with the lender to avoid the borrower defaulting on the loan.
- Calculate amount of debt and available funds in order to decide amount of monthly payments and length of payment plans.
- Service low risk and pre-foreclosure accounts and approve loans with specified limits.
- Counsel individuals struggling to pay loans or individuals who do not meet the prerequisites for traditional loans.
- Analyze applicants' current and past financial status, credit, and property evaluations to determine possibility and ease of granting loans.