Loan Officers
FinanceO*NET 13-2072.00United States
Evaluate, authorize, or recommend approval of commercial, real estate, or credit loans. Advise borrowers on financial status and payment methods.
- Median annual earnings
- $76,759
- Projected change
- +3.2%
- Typical education
- Bachelor's degree
- Employment
- 284.08K jobs
50th percentile, United States
2025 to 2035
69.9% of the workforce
Growing to 293.13K by 2035
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These courses and certificates are connected through catalog career relationships and Lightcast skill tags.
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The work
What loan officers do
Tasks reported for this occupation, ordered by how often they come up in the role.
- 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.
- Review loan agreements to ensure that they are complete and accurate according to policy.
- Obtain and compile copies of loan applicants' credit histories, corporate financial statements, and other financial information.
- Review and update credit and loan files.
- Handle customer complaints and take appropriate action to resolve them.
- Work with clients to identify their financial goals and to find ways of reaching those goals.
- Stay abreast of new types of loans and other financial services and products to better meet customers' needs.
- Market bank products to individuals and firms, promoting bank services that may meet customers' needs.
- Analyze potential loan markets and develop referral networks to locate prospects for loans.
- Compute payment schedules.
Pay and outlook
What the job pays and where it is heading
Annual earnings range
Reported earnings by percentile, United States
- 10th percentile
- $39,082
- 25th percentile
- $52,499
- 50th percentile
- $76,759
- 75th percentile
- $104,808
- 90th percentile
- $156,390
The gold marker shows the median. Half earn more than $76,759 and half earn less.
Employment outlook
2025 to 2035 projection
+3.2%average or slower
2025284,075 jobs
2035 projected293,134 jobs
9,059 more positions over the decade, before replacement hiring.
Preparation
Education levels
What people currently working in the career hold. These are not entry requirements.
- Bachelor's degree
- 69.9%
- Some college
- 12.8%
- Associate degree
- 11.2%
- High school diploma or less
- 6.1%
Skills
Skills employers ask for
Technical skills appearing most often in job postings for this occupation.
How the work gets done
Core competencies
Broad capabilities associated with strong performance in this occupation.
- Active Listening
- Giving full attention to what other people are saying, taking time to understand the points being made, asking questions as appropriate, and not interrupting at inappropriate times.
- Speaking
- Talking to others to convey information effectively.
- Reading Comprehension
- Understanding written sentences and paragraphs in work-related documents.
- Judgment and Decision Making
- Considering the relative costs and benefits of potential actions to choose the most appropriate one.
- Critical Thinking
- Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions, or approaches to problems.
- Writing
- Communicating effectively in writing as appropriate for the needs of the audience.
- Mathematics
- Using mathematics to solve problems.
- Complex Problem Solving
- Identifying complex problems and reviewing related information to develop and evaluate options and implement solutions.
- Social Perceptiveness
- Being aware of others' reactions and understanding why they react as they do.
- Time Management
- Managing one's own time and the time of others.
- Active Learning
- Understanding the implications of new information for both current and future problem-solving and decision-making.
- Service Orientation
- Actively looking for ways to help people.
- Negotiation
- Bringing others together and trying to reconcile differences.
- Persuasion
- Persuading others to change their minds or behavior.
- Coordination
- Adjusting actions in relation to others' actions.
- Monitoring
- Monitoring/Assessing performance of yourself, other individuals, or organizations to make improvements or take corrective action.
- Instructing
- Teaching others how to do something.
- Learning Strategies
- Selecting and using training/instructional methods and procedures appropriate for the situation when learning or teaching new things.
- Management of Personnel Resources
- Motivating, developing, and directing people as they work, identifying the best people for the job.
- Systems Analysis
- Determining how a system should work and how changes in conditions, operations, and the environment will affect outcomes.
In the market
Job titles and employers
Recent job postings in United StatesCommon job titles
- 01Mortgage Loan Officers4,871 postings
- 02Mortgage Servicers4,775 postings
- 03Occupancy Managers2,438 postings
- 04Mortgage Loan Originators1,940 postings
- 05Loan Officers1,899 postings
- 06Commercial Loan Officers1,785 postings
- 07Escrow Officers1,268 postings
- 08Commercial Relationship Managers1,035 postings
- 09Escrow Assistants880 postings
- 10Commercial Lenders840 postings
- 11Mortgage Underwriters788 postings
- 12Lead Independent Consultants778 postings
- 13Loan Servicing Specialists774 postings
- 14Customer Service Representatives/Loan Consultants622 postings
- 15Consumer Loan Specialists555 postings
- 16Loan Originators454 postings
- 17Loan Administrators388 postings
- 18Relationship Managers378 postings
- 19Loan Specialists367 postings
- 20Mortgage Interns340 postings
Top employers
- 01Field Asset Reporting4,777 postings
- 02Gis Field Services3,197 postings
- 03GPAC2,432 postings
- 04PNC1,222 postings
- 05Regions Financial653 postings
- 06Lendmark Financial Services646 postings
- 07First American Financial539 postings
- 08TEKsystems441 postings
- 09Umb Financial Corporation422 postings
- 10Carrington393 postings
- 11Anywhere Real Estate374 postings
- 12Adams361 postings
- 13Republic Finance347 postings
- 14US Bank317 postings
- 15Nofs Site314 postings
- 16Fifth Third Bank307 postings
- 17JPMorgan Chase298 postings
- 18Wells Fargo298 postings
- 19Truist Financial283 postings
- 20Robert Half278 postings
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