Getting a job in real estate finance

Over the years, real estate has grown into a thriving, competitive industry. People are constantly buying and selling properties according to their needs. Some might need a bigger place, as their family is growing, while others might want to invest in a new property to make some profit. Thus, the real estate industry will always be in high demand. Even in times of recession, when people are more cautious with their spending, there’s a light at the end of the tunnel for real estate.


Considering these aspects when choosing a career path, you should give real estate another thought.


No real estate transaction can be finalized without the service of a loan officer and real estate analysts. So, real estate finance is significant in the real estate industry. These finance experts usually work for a bank or lending institution. They provide helpful information regarding the real estate industry and the legal and financial world.


Having a job in finance, especially in real estate finance, might sound tedious, but knowing it has its perks is essential. Real estate jobs come with great benefits, such as competitive salaries, a steady industry, and excellent opportunities for growth and development.


Before getting into the current real estate finance jobs available, knowing how the real estate industry is divided is essential.


Generally speaking, the real estate industry is divided into two main categories: commercial and residential.


Commercial real estate is related to multi-family homes, shopping centers, industrial and office property investments.


Meanwhile, residential real estate refers to financing or investments specific to single-family homes.


There are various types of real estate jobs for both commercial and residential real estate.


Let’s see the available commercial and residential real estate finance jobs and their average salaries.


Positions available in commercial real estate finance


1. Commercial mortgage loan analyst


Having this job means you will have to analyze all the paperwork involved in a commercial mortgage loan. It involves underwriting analysis, assessment of reports, surveys, leases, and underwriting requests for commercial real estate loans. To apply for this position, you will need a bachelor’s degree and two years of experience in commercial real estate finance. The most common employers in this profession are mortgage companies and banks.



2. Commercial real estate loan officer


These professionals are responsible for soliciting, underwriting, and managing a company’s real estate portfolio. They are also responsible for interviewing commercial loan applicants, evaluating applicants' financial status, and creating personalized packages and payment plans. For this job, you will need a bachelor’s degree and, preferably, four to five years of experience. Commercial real estate loan officers may work at commercial banks, credit unions, or mortgage companies.



3. Commercial property mortgage broker


This professional sells commercial mortgages to business owners. They also act as a third party between a business searching for a real estate loan and a lending institution. Commercial property mortgage brokers offer valuable advice to companies and help them find the best mortgage product for their real estate investment. This job also requires a bachelor's degree, and real estate finance groups, mortgage companies, and banks are the most common employees for this role.



4. Commercial real estate underwriter


The underwriters assess a borrower's financial status and management abilities. Their responsibilities involve writing reports that check proposals' risk or potential loss. They also suggest contingencies to account for unpredicted circumstances. Qualifications include a bachelor’s degree in accounting, finance, or a related field and previous experience. Licensing requirements vary by state. Computer and analytical skills are essential for this job.



5. Portfolio Manager


A portfolio manager combines financial and real estate expertise to optimize the companies’ investments. They can analyze the risks and opportunities of real estate investments to determine the right time to buy or sell assets. Based on their expertise, portfolio managers suggest real estate properties for an investment portfolio. They can even select real estate properties for investment portfolios. A bachelor’s degree is required in finance, business, or real estate, and preferably five to ten years of experience in the financial industry.



6. Investor services associate


These professionals are responsible for managing the accuracy and timing of monthly payments to be reported and addressed to various investors. This job requires a good understanding of Ginnie Mae, Freddie Mac, and Fannie Mae. To apply for this position, you need a bachelor’s degree in finance or related fields and three to five years of previous experience. Real estate management companies, mortgage companies, and banks commonly employ these professionals.



Positions available in residential real estate finance


1. Real estate asset manager


Based on their expertise, a real estate asset manager makes decisions that can optimize the property assets of a client. They often recommend properties, analyze markets for opportunities and assist in real estate transactions. Another significant role of the real estate asset manager is to maximize the value of real estate assets. He also searches for methods to increase the real estate portfolio they’re managing. The banks usually need these types of professionals.



2. Real estate loan underwriter


The primary responsibility of a real estate loan underwriter is to check the financial status and eligibility for obtaining a mortgage loan. They also prepare and submit mortgage loan applications. A degree in finance or business administration is a plus, but not mandatory to apply for this job. Also, previous experience in sales or customer support is an asset. Banks and underwriting companies are the leading employers of real estate loan underwriters.



3. Residential real estate analyst


A residential real estate analyst handles evaluating residential real estate to establish a property’ correct market value. They may also provide expertise and advice to clients and investors on how they should manage their real estate holdings. A bachelor’s degree and one year of experience in residential real estate inspections and market evaluations are usually necessary for this position.



4. Residential mortgage originator


This professional is responsible for helping borrowers through the mortgage application process and loan closing. Residential mortgage originators can collect borrowers' credit and financial information. They assess their needs and help them determine which loan suits them best. They can also help the borrowers with their application to submit for underwriting. A bachelor’s degree and two years of experience in residential mortgages are required for this position.



5. Residential mortgage loan officer


A residential mortgage loan officer is responsible for determining whether the clients are eligible for mortgage loans. First, they review the client's financial status to be able to decide the amount they can borrow. Other responsibilities include keeping detailed records of the loan application. Also, managing the contract and the closing process.


A bachelor’s degree in finance, business, accounting, or a related major is preferred but not mandatory. They also must have an active mortgage loan originator license.



As seen above, a wide range of jobs are available in the real estate finance industry, and the salaries are pretty competitive. If you are willing to make a career change or are a fresh high-school graduate, you should consider these professions. Getting into real estate finance is not that easy, as most jobs require a bachelor’s degree and some experience in the industry. But the effort you will have to make will be topped by the benefits this industry provides.