Loan Officer
Career Overview
Work with clients to gather personal information and answer questions to evaluate their loan application and risk
Track and maintain credit and loan information.
Seek out new clients by contacting companies and people.
Understand the types and terms of each loan to determine a loan that is suitable for their specific needs
Work with borrowers who fail to make their loan payments on time.
Use loan underwriting software to make recommendations to customers.
What It Takes
Loan Officers help people identify and apply for loans, from mortgages to personal loans. They evaluate the candidates’ job history, income, and overall creditworthiness. Being a loan officer is a great career choice if you like working with people.
Quantitative skills
Understanding mathematical and numerical data, which is important when working with numbers to determine a loan.
Good judge of character
Making accurate assessments about people, especially their credibility and their reliability, in determining a loan.
Interpersonal skills
Cultivating and strengthening existing customer relationships, as well as selling loans to new customers.
Communication
Explaining loans to customers so they have a complete understanding of the terms.
Decision-making skills
Evaluating a customer’s loan application and determining whether to award them a loan.
Career Progression
Key Companies
more companies
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