Careers · Explore one path
Loan Officers
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.
Other titles employers use
Commercial Banker · Commercial Loan Officer · Corporate Banking Officer · Financial Aid Advisor · Financial Aid Counselor · Financial Aid Officer · Financial Counselor · Loan Counselor
Inside the work
What you would actually do.
6 responsibilities that define the role, before job titles and workplaces change the details.
- 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.
Who it suits
Would this work hold your attention?
This career often appeals to people drawn to organizing, persuading and helping work.
- Organizing
- Creating order, checking details, and keeping work accurate
- Persuading
- Leading, selling, starting projects, or making a case
Skills and strengths
What you would get good at.
Compare the skills the work relies on, the subjects behind it, and the abilities that make it easier to learn.
Core skills
- Active Listening
- Speaking
- Reading Comprehension
- Judgment and Decision Making
- Critical Thinking
- Writing
Subjects to know
- Customer and Personal Service
- Economics and Accounting
- English Language
- Mathematics
- Sales and Marketing
Useful strengths
- Oral Comprehension
- Written Comprehension
- Oral Expression
- Written Expression
- Near Vision
Working day
Picture yourself doing it.
These measures show how much of the day involves people, movement, conversation, and hands-on work.
| Measure | Out of 5 | What that means here |
|---|---|---|
| Close to other people | 3.1 | Shared rooms, but not shoulder to shoulder |
| On your feet | 2.2 | Mostly seated |
| Talking face to face | 4.9 | Continuous — the job is conversations |
| Working with your hands | 3.4 | Some of the day |
Preparation
How people prepare for this work.
Employers usually ask for a bachelor's degree. Other routes may also lead into the field.
- A four-year degree 69%
- A certificate or some college 13%
- A two-year degree 11%
- High school or less 6%
Tools of the work
Technology you may use.
- Enterprise resource planning ERP software
- Data base user interface and query software
- Office suite software
- Electronic mail software
- Spreadsheet software
- Presentation software
- Word processing software
- Video conferencing software
Opportunity near you
See where this work is growing.
Choose a state to compare the size of the field, annual openings, and expected hiring change.
- People doing this work
- 33,100
- Job openings each year
- 2,240
- Expected hiring change, 2022–2032
- —
Compare every available state
| State | People doing it | Job openings each year | Expected change |
|---|---|---|---|
| California | 33,100 | 2,240 | — |
| Texas | 32,450 | 2,510 | 17.9% |
| Florida | 27,520 | 1,870 | 1.0% |
| New York | 17,660 | 50 | 2.7% |
| Arizona | 16,730 | 1,270 | 14.7% |
| North Carolina | 15,460 | 1,110 | 7.6% |
| Ohio | 13,450 | 950 | 4.8% |
| Michigan | 13,370 | 930 | 4.0% |
| Illinois | 11,610 | 770 | −1.6% |
| Georgia | 10,350 | 760 | 9.3% |
| Virginia | 10,330 | 700 | — |
| Pennsylvania | 10,320 | 710 | 2.3% |
| Missouri | 8,380 | 590 | 5.5% |
| Washington | 8,250 | 540 | — |
| Minnesota | 8,110 | 550 | — |
| New Jersey | 8,090 | 550 | 1.8% |
| Tennessee | 6,740 | 450 | — |
| Alabama | 6,210 | 440 | 5.8% |
| Wisconsin | 6,140 | 420 | 1.2% |
| Colorado | 6,120 | 430 | 3.9% |
| South Carolina | 6,000 | 450 | 13.9% |
| Oklahoma | 5,700 | 400 | 6.1% |
| Indiana | 5,520 | 380 | 1.1% |
| Utah | 5,480 | 400 | 9.2% |
| Idaho | 5,400 | 370 | 2.3% |
| Oregon | 5,160 | 360 | 3.0% |
| Kansas | 4,580 | 310 | — |
| Iowa | 4,290 | 310 | 7.0% |
| Maryland | 4,150 | 280 | −1.0% |
| Kentucky | 3,800 | 270 | 4.1% |
| Nebraska | 3,520 | 260 | 8.0% |
| Arkansas | 3,400 | 240 | 5.3% |
| Mississippi | 3,260 | 240 | 9.4% |
| Connecticut | 3,050 | 200 | −1.3% |
| Nevada | 2,870 | 200 | 5.5% |
| Louisiana | 2,850 | 180 | −4.4% |
| Puerto Rico | 2,350 | 170 | 10.8% |
| Massachusetts | 2,240 | 150 | — |
| Rhode Island | 2,150 | 150 | — |
| South Dakota | 2,120 | 150 | 6.5% |
| Montana | 1,700 | 120 | 9.7% |
| North Dakota | 1,500 | 110 | 10.3% |
| Maine | 1,410 | 100 | 2.2% |
| New Mexico | 1,380 | 100 | 9.5% |
| New Hampshire | 1,270 | 90 | 9.5% |
| Delaware | 1,060 | 70 | — |
| Wyoming | 1,010 | 80 | 13.5% |
| West Virginia | 930 | 70 | 6.9% |
| Alaska | 450 | 30 | −2.2% |
| District of Columbia | 440 | 30 | — |
| Vermont | 410 | 30 | −4.7% |
| Guam | 100 | 10 | 11.1% |
| Virgin Islands | 70 | 10 | 16.7% |
Career to college
Build a path toward this work.
Start with a related major, then compare colleges where students complete that field.
Where to study
Colleges with strong activity in these fields.
Start with program size, admission, and likely cost. Open a college for the full picture.
CUNY Bernard M Baruch College
- Degrees each year
- 891
- Admit rate
- 50%
- Annual cost after aid
- $6,000
Program entryApply after enrollment
Open college OHOhio State University-Main Campus
- Degrees each year
- 817
- Admit rate
- 51%
- Annual cost after aid
- $10,000
Program entryOpen major
Open college FLFlorida State University
- Degrees each year
- 703
- Admit rate
- 25%
- Annual cost after aid
- $10,000
Program entryApply after enrollment
Open college SCUniversity of South Carolina-Columbia
- Degrees each year
- 597
- Admit rate
- 61%
- Annual cost after aid
- $20,000
Program entryOpen major
Open college PAPennsylvania State University-Main Campus
- Degrees each year
- 577
- Admit rate
- 54%
- Annual cost after aid
- $26,000
Program entryDirect to major
Open college FLFlorida International University
- Degrees each year
- 573
- Admit rate
- 59%
- Annual cost after aid
- $11,000
Program entryOpen major
Open college ALThe University of Alabama
- Degrees each year
- 572
- Admit rate
- 76%
- Annual cost after aid
- $22,000
Program entryOpen major
Open college GAUniversity of Georgia
- Degrees each year
- 545
- Admit rate
- 37%
- Annual cost after aid
- $13,000
Program entryApply after enrollment
Open collegeCompare every college offering finance and financial management services