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Loan Consulting Agreement Template

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Updated on January 5th, 2023

loan consulting agreement sets forth the terms of how a consultant will work with their client to determine the right loan option for their situation. Before the professional relationship is initiated, the document will ensure both parties agree to the payment terms, the services to be rendered, and each side’s responsibilities. Drafting an agreement is an important measure in reducing legal liabilities and ensuring a successful working relationship.


What is a Loan Consultant?

Loan consultants work with clients seeking to acquire a loan, providing them with information on the available options and identifying the best solution for their needs. Loan consultants do not themselves provide clients loans; instead, they assess their client’s financial situation and objectives and share their insight.

Loan Consulting Overview

Loan consultants are responsible for reviewing loan applications, presenting mortgage or loan options, and advising clients. Their job is to inform clients of each option’s details and risk factors, as well as determine the appropriate option for their circumstance. In some cases, consultants may also negotiate arrangements for overdue loan payments.

Why Use a Loan Consulting Agreement

Loan consultant agreements serve as a record of the working relationship’s details and provide a go-to source for settling agreement disputes. Completing the document before the relationship begins also ensures each party has a chance to review the terms and make sure there is no confusion as to the required payment, the expected services, and the start and end dates.

Frequently Asked Questions

Do the client and loan consultant need to sign the agreement?

Both the client and loan consultant must sign the agreement for it to take effect.

Can the agreement be legally enforced?

Once both parties sign, a loan consultant agreement is legally enforceable in court. A party may pursue legal action if the other violates the terms or neglects their contractual obligations.

Does a loan consulting agreement require a retainer?

A retainer (an advance payment for future services) is optional for a consulting agreement; the consultant may decide if they require a retainer to ensure a client will continue to hire their services.