Loan Officer

Explore This Path

Help people achieve dreams by securing loans for homes, businesses, and more.
Play a crucial role in financial growth by evaluating and approving loan applications.
Unique chance to blend finance expertise with personal interaction and decision-making.

💰 Earn $49K-$102K

📚 Bachelor Degree

⏱️ 24–48 MONTH TRAINING

📈 1.4% JOB GROWTH

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What You’ll Do

Evaluate, authorize, or recommend approval of commercial, real estate, or credit loans. Advise borrowers on financial status and payment methods. Includes mortgage loan officers and agents, collection analysts, loan servicing officers, loan underwriters, and payday loan officers.

Meet with applicants to obtain information for loan applications and to answer questions about the process.
Analyze applicants' financial status, credit, and property evaluations to determine feasibility of granting loans.
Approve loans within specified limits, and refer loan applications outside those limits to management for approval.
Explain to customers the different types of loans and credit options that are available, as well as the terms of those services.
Submit applications to credit analysts for verification and recommendation.

Scoop

Minimum Education

Bachelor Degree

Career Prospects

Good (Increasing by 1-5%)

Training Time

2 to 4 years

Job Openings

22,900 Annually

Median Earnings

$73,380 in California

$69,990 Nationally

$25K

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$250K

Real Talk Reel

Want to see what it's like to be a Loan Officer? We've curated a playlist for you to get a glimpse into a day in the life.

@moneymentormeg

@michael.s.glaspie

Best For You If...

YOU Like 💕

Influencing or leading others
Relating with or serving others
Using data or completing tasks

You are skilled in 💫

Active Listening
Complex Problem Solving
Critical Thinking
Speaking
Writing
Reading Comprehension

You value 🙏

Having support
Having freedom
Personal relationships

Deep Dive

Loan Officer

Explore career pathways, key skills, and what each role has to offer.

Pathways to this Career

Learn about the education and training paths that can lead to this career — and what to expect from each one.

Associate's Degree

An associate's degree typically provides graduates with foundational knowledge and skills for entry-level jobs in the graduate's industry, or serves as a stepping stone towards further education.

🎓 College

⏱️ FINISH IN 2-3 years

Bachelor's Degree

A bachelor's degree typically results in increased knowledge about a variety of academic subjects, specialized knowledge in a focused field of study, and is considered the foundational qualification for many careers.

🎓 College

⏱️ FINISH IN 4-5+ years