Mortgage Advisors in Israel Earn Up to $7,000 Monthly, With Potential for More
Mortgage advisors in Israel typically earn between 8,000 and 12,000 shekels (approximately $2,200 to $3,300) gross per month in their first year, whether employed by a consultancy or working independently to build a client base. This income is a combination of a low base salary and commissions on closed deals. Salary surveys indicate the average in the profession hovers around 12,000 shekels, which is about double the minimum wage but below the national average salary of 14,000 to 15,000 shekels. Advisors with an active client portfolio, closing three to four deals monthly, can see their income rise to 15,000 to 25,000 shekels (approximately $4,100 to $6,900), with peak months potentially yielding even more. However, months without transactions mean income drops to the base salary alone.
Independent advisors charge clients between 6,000 and 9,000 shekels (before VAT) for full mortgage support. Complex cases, such as purchases under government housing programs, refinancing multiple loans, or investors with multiple properties, command higher fees. Closing three such deals in a month could generate 18,000 to 27,000 shekels gross, from which taxes, advertising, professional liability insurance, and other expenses must be deducted. Employed advisors receive a lower base salary plus a commission per deal, making their monthly income dependent on the number of closings.
The basic training for mortgage advisors involves a 40 to 52-hour academic course, costing between 4,500 and 7,500 shekels for group sessions. While a bill to regulate the profession, requiring certification exams and a registry under the Ministry of Justice, has passed its first reading in the Knesset, its final approval is pending. Currently, entry remains relatively open, with banks primarily requiring a power of attorney from clients to discuss their cases with advisors.
Factors significantly impacting an advisor's earnings include the volume and complexity of deals. Closing two deals a month might keep an advisor near the base salary, while handling four or five deals involving purchases, refinances, and contractor loans establishes a more stable income. Specializing in niches like investors with multiple properties or clients with limited down payments can also increase earnings due to the greater time investment required. Establishing a consultancy with staff can further amplify deal volume without proportionally increasing personal hours.
Internationally, loan officers in the U.S. who handle mortgages earn a median annual salary of approximately $76,700 (around $21,000 monthly). In the UK, the average mortgage advisor earns about £42,000 annually (roughly $15.500 monthly), with entry-level positions starting between £25,000 and £30,000.
