Loan officers help people and businesses access money to buy homes, fund education, grow companies, or cover unexpected expenses. If you’re detail-oriented, comfortable with numbers, and enjoy helping others make smart financial decisions, this career could be a strong match.
Loan officers evaluate applications, explain loan terms, and guide borrowers through the process from start to signature. Some work with individuals on personal or home loans, while others support businesses with commercial financing.
Job titles you might see include:
While many employers prefer candidates with some finance or customer service experience, this is a role you can grow into without a four-year degree, especially in entry-level lending or mortgage support roles.
Earn a high school diploma or GED: This is the baseline requirement for most training programs or entry-level jobs.
Gain experience in sales, banking, or customer service: Skills like communication, relationship-building, and organization are highly transferable.
Complete a loan officer training program: Some banks offer training in-house. Others prefer candidates who’ve completed online courses in credit, lending, or financial services.
Pass the NMLS exam (for mortgage loan officers): If you plan to work in residential mortgage lending, you’ll need to register with the Nationwide Multistate Licensing System (NMLS) and pass an exam.
Not necessarily. While some employers prefer an associate or bachelor’s degree, many hire based on experience, licensing, and financial service skills.
Mortgage loan officers focus specifically on home loans. They’re required to hold an MLO license. Other loan officers may work with business, personal, or auto loans.
Some loan officers earn commissions or bonuses based on loan volume, especially in mortgage or commercial lending. Others work in support or compliance roles.
Banks, credit unions, online lenders, mortgage companies, car dealerships, and even colleges (in financial aid roles).
Yes. Many loan officers move into underwriting, credit analysis, branch management, or commercial lending.
