Explore Careers Loan Officer O*NET-SOC: 13-2072.00 Finance Evaluates, authorizes, and recommends approval of commercial, real estate, or consumer loan applications, assessing creditworthiness, financial data, and collateral to determine lending risk. See your fit Take the quiz to see how you match Take the Quiz $74K Median Salary +3% Stable Bachelor's Degree Min.

Education Moderate Balance Work-Life Balance About This Role Loan officers evaluate whether individuals and businesses qualify for loans, then guide them through the borrowing process from initial application to final approval. They spend much of their day reviewing financial documents such as tax returns, bank statements, and credit reports to assess whether an applicant can comfortably repay what they are borrowing. A loan officer might meet with a first-time homebuyer to explain the difference between a fixed-rate and adjustable-rate mortgage, or sit down with a small business owner to discuss options for a commercial loan to fund an expansion.

A Day in the Life 8:30 AM Review new applications Go through overnight loan submissions, pull credit reports, and identify any applications that need extra scrutiny. 9:30 AM Client meeting Sit down with a prospective borrower to discuss mortgage options and walk through what they can realistically afford. 11:00 AM Underwriting coordination Compile supporting documents for a loan package and submit it to the underwriting team for approval. 12:30 PM Lunch and networking Grab lunch while calling a real estate agent about potential referrals and checking current interest rate updates. 1:30 PM Existing client support Help a current borrower explore options for adjusting their payment plan after a change in their financial situation. 3:00 PM Follow-up calls Contact applicants with status updates and walk them through any additional documentation that is needed. 4:30 PM Pipeline review Update tracking records with the day's progress and organize priorities for tomorrow. Tools & Technologies ERP Systems

PeopleSoft

SAP

Datatel Colleague

Office Suites

Microsoft Office

Experian Strategy Management

Email

Microsoft Outlook

IBM Notes

Spreadsheets

Microsoft Excel

Word Processing

Microsoft Word

Databases & Data Tools

Microsoft Access

EDExpress

ELM Resources ELM

EMT Applications CounselorMax

FileMaker Pro

Salary Details Salary Distribution Salary distribution for Loan Officer: 10th percentile $38K, 25th $50K, median $74K, 75th $102K, 90th $146K Median $38K $50K $74K $102K $146K Most professionals earn between $50K and $102K Loan Officer salary percentile distribution Percentile Salary 10th $38K 25th $50K 50th (Median) $74K 75th $102K 90th $146K Salary by State Loan Officer salary by state map Loan Officer salary by state State Median Salary Salary Range District of Columbia $102K $56K - $219K New York $99K $49K - $217K New Jersey $95K $39K - $164K Massachusetts $93K $61K - $175K Vermont $86K $51K - $165K Minnesota $84K $52K - $153K North Dakota $83K $55K - $142K Kansas $83K $46K - $163K Delaware $81K $45K - $132K Iowa $80K $49K - $136K Colorado $80K $42K - $157K Virginia $80K $42K - $167K California $80K $37K - $164K Wisconsin $79K $50K - $138K New Hampshire $79K $43K - $171K South Dakota $79K $60K - $115K Maine $78K $47K - $124K Connecticut $78K $48K - $173K Rhode Island $77K $48K - $118K Washington $77K $37K - $151K Wyoming $76K $46K - $143K Illinois $76K $47K - $137K North Carolina $76K $39K - $143K Nebraska $76K $47K - $155K Oregon $75K $45K - $158K Maryland $73K $44K - $158K Missouri $73K $37K - $128K New Mexico $73K $35K - $133K Michigan $73K $35K - $136K Georgia $72K $42K - $134K Indiana $71K $45K - $129K Florida $71K $34K - $135K Hawaii $70K $29K - $133K Arkansas $70K $38K - $133K Ohio $69K $38K - $133K Kentucky $69K $38K - $130K Montana $66K $42K - $125K Oklahoma $66K $36K - $147K Alaska $65K $24K - $163K Idaho $64K $39K - $138K Texas $64K $36K - $131K Tennessee $63K $38K - $118K South Carolina $62K $36K - $126K Pennsylvania $61K $38K - $124K Utah $61K $39K - $127K Alabama $61K $40K - $147K Mississippi $60K $35K - $130K Nevada $58K $26K - $175K Louisiana $57K $29K - $128K Arizona $54K $30K - $109K West Virginia $50K $37K - $105K Loan Officer salary by state State Median Salary Salary Range District of Columbia $102K $56K - $219K New York $99K $49K - $217K New Jersey $95K $39K - $164K Massachusetts $93K $61K - $175K Vermont $86K $51K - $165K Minnesota $84K $52K - $153K North Dakota $83K $55K - $142K Kansas $83K $46K - $163K Delaware $81K $45K - $132K Iowa $80K $49K - $136K Colorado $80K $42K - $157K Virginia $80K $42K - $167K California $80K $37K - $164K Wisconsin $79K $50K - $138K New Hampshire $79K $43K - $171K South Dakota $79K $60K - $115K Maine $78K $47K - $124K Connecticut $78K $48K - $173K Rhode Island $77K $48K - $118K Washington $77K $37K - $151K Wyoming $76K $46K - $143K Illinois $76K $47K - $137K North Carolina $76K $39K - $143K Nebraska $76K $47K - $155K Oregon $75K $45K - $158K Maryland $73K $44K - $158K Missouri $73K $37K - $128K New Mexico $73K $35K - $133K Michigan $73K $35K - $136K Georgia $72K $42K - $134K Indiana $71K $45K - $129K Florida $71K $34K - $135K Hawaii $70K $29K - $133K Arkansas $70K $38K - $133K Ohio $69K $38K - $133K Kentucky $69K $38K - $130K Montana $66K $42K - $125K Oklahoma $66K $36K - $147K Alaska $65K $24K - $163K Idaho $64K $39K - $138K Texas $64K $36K - $131K Tennessee $63K $38K - $118K South Carolina $62K $36K - $126K Pennsylvania $61K $38K - $124K Utah $61K $39K - $127K Alabama $61K $40K - $147K Mississippi $60K $35K - $130K Nevada $58K $26K - $175K Louisiana $57K $29K - $128K Arizona $54K $30K - $109K West Virginia $50K $37K - $105K Lower ($50K-$76K)Middle (~$76K)Higher ($76K-$102K) Highest Paying States 1.District of Columbia$102K

2.New York$99K

3.New Jersey$95K

4.Massachusetts$93K

5.Vermont$86K Lowest Paying States 1.West Virginia$50K

2.Arizona$54K

3.Louisiana$57K

4.Nevada$58K

5.Mississippi$60K Certifications, Training & Memberships Essential Nationwide Multistate Licensing System (NMLS) Mortgage Loan Originator License Nationwide Multistate Licensing System & Registry (NMLS) Certification Required licensing for mortgage loan officers involving pre-licensing education, exam, and continuing education.

Recommended Certified Mortgage

Banker (CMB) Mortgage Bankers Association (MBA) Certification Advanced credential for experienced professionals demonstrating expertise in mortgage banking operations and leadership.

Helpful Certified Credit

Professional (CCP) Credit Research Foundation (CRF) Certification Focuses on credit risk analysis, collections, and financial decision-making skills for commercial lending.

Professional

Memberships MBA Membership Mortgage Bankers Association (MBA) Membership Professional network providing industry updates, advocacy, and networking for loan officers.





Work Environment Remote Work Hybrid (Remote + Office) Work Setting Traditional office / indoor Physical Activity Mostly sedentary Social Interaction Highly team-oriented — frequent team interaction Schedule Extended hours common Your Skills & Attributes Skills &

Competencies Matches (48) Active Listening Strong Match Coordination Moderate Match Persuasion Moderate Match Negotiation Moderate Match Instructing Moderate Match Frequently Asked Questions Is Loan Officer a good career? Loan Officer can be a rewarding career choice. Based on current data, the median salary is $74K and job outlook is stable (3% projected growth). Whether it's a good fit depends on your skills, interests, and values — take our quiz to find out how well you match. What degree do you need to become a Loan Officer? The typical education requirement for a Loan Officer is a Bachelor's Degree. However, requirements can vary by employer and specialization. Some professionals enter the field with alternative credentials or relevant work experience. How long does it take to become a Loan Officer? Becoming a Loan Officer typically requires about 4 years of undergraduate study. Additional time may be needed for certifications, internships, or on-the-job training depending on the specific role and employer requirements. What is the work-life balance like for a Loan Officer? The work-life balance for a Loan Officer is moderate, with some periods requiring extended hours or flexibility. Individual experiences vary based on employer, specialization, seniority level, and geographic location. What is the job outlook for Loan Officer? The job outlook for Loan Officer is secure. Employment is projected to grow by 3% over the coming decade. Labor market conditions can vary by region and specialization.

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