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What degree do you need to be a loan officer?

By Zippia Team - Jul. 31, 2023

A degree is not required to be a loan officer. However, some degrees can help give you relevant knowledge for the job and ultimately obtain the position. These include bachelor's or master's degrees in finance, economics, business, or accounting.

To become a loan officer, you will most likely have to obtain licenses and certifications. However, the requirements of these vary state by state. In general, a Mortgage Loan Originator (MLO) license is needed to process mortgage loans.

The American Bankers Association (ABA) offers certifications commonly needed for loan officers. These certifications need to be renewed every three years. Some of these include:

  • Certified Trust and Financial Advisor (CTFA)

  • Certified Financial Marketing Professional (CFMP)

  • Certified Lender Business Banker (CLBB)

Try to determine what type of loan officer you want to be. This will help you outline a clear path for necessary education and certifications.

What degree do you need to be a loan officer?

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