Explore jobs
Find specific jobs
Explore careers
Explore professions
Best companies
Explore companies
What is a junior loan officer and how to become one
Junior loan officers are responsible for assisting senior loan officers in creating and closing loan packages. They review options with senior loan officers to recommend based on the applicant's financial status. They also collect financial information in order to prepare the loan file, assist applicants with loan applications, and assess applicants' financial situation and eligibility.
Junior loan officers earn an average salary of $47,000 annually or $23 per hour. They work alongside a senior mortgage loan officer to find potential home loan mortgage applicants, help them navigate the loan process, and assist with preparing and closing the mortgage loan transaction. They analyze financial data to determine an applicant's creditworthiness and ability to repay a home mortgage loan.
In terms of academic qualifications, junior loan officers typically hold a high school diploma or its equivalent. Although a bachelor's degree in business, finance, or other related fields may be beneficial in the long run. They are expected to have some years of experience as a loan officer or in a similar role. Some employers prefer candidates with a keen eye for detail and excellent interpersonal and communication skills.
Avg. Salary $39,006
Avg. Salary $59,228
Growth rate 4%
Growth rate 0.3%
American Indian and Alaska Native 0.48%
Asian 6.40%
Black or African American 9.22%
Hispanic or Latino 16.00%
Unknown 4.64%
White 63.27%
Genderfemale 41.14%
male 58.86%
Age - 44American Indian and Alaska Native 3.00%
Asian 7.00%
Black or African American 14.00%
Hispanic or Latino 19.00%
White 57.00%
Genderfemale 47.00%
male 53.00%
Age - 44Stress level is high
7.1 - high
Complexity level is advanced
7 - challenging
Work life balance is fair
6.4 - fair
Junior loan officer career paths
Key steps to become a junior loan officer
Explore junior loan officer education requirements
Start to develop specific junior loan officer skills
Skills Percentages Loan Applications 17.38% Origination 14.02% Inbound Calls 10.38% Loan Programs 5.99% Outbound Calls 5.94% Complete relevant junior loan officer training and internships
Accountants spend an average of 6-12 months on post-employment, on-the-job training. New junior loan officers learn the skills and techniques required for their job and employer during this time. The chart below shows how long it takes to gain competency as a junior loan officer based on U.S. Bureau of Labor Statistics data and data from real junior loan officer resumes.Research junior loan officer duties and responsibilities
- Supervise and manage the processing staff and also underwrite conventional loans for correspondent lenders.
- Execute the loan origination process, including ordering credit reports, appraisalsand preliminary title reports.
- Assist customers with FHA, VA, and conventional loans.
- Qualify conventional & FHA loans while adhering to bank lending standards.
Prepare your junior loan officer resume
When your background is strong enough, you can start writing your junior loan officer resume.
You can use Zippia's AI resume builder to make the resume writing process easier while also making sure that you include key information that hiring managers expect to see on a junior loan officer resume. You'll find resume tips and examples of skills, responsibilities, and summaries, all provided by Zippi, your career sidekick.
Choose from 10+ customizable junior loan officer resume templates
Build a professional junior loan officer resume in minutes. Browse through our resume examples to identify the best way to word your resume. Then choose from 10+ resume templates to create your junior loan officer resume.
Apply for junior loan officer jobs
Now it's time to start searching for a junior loan officer job. Consider the tips below for a successful job search:
- Browse job boards for relevant postings
- Consult your professional network
- Reach out to companies you're interested in working for directly
- Watch out for job scams
How did you land your first junior loan officer job
Are you a junior loan officer?
Share your story for a free salary report.
Average junior loan officer salary
The average junior loan officer salary in the United States is $39,006 per year or $19 per hour. Junior loan officer salaries range between $28,000 and $53,000 per year.
What am I worth?
How do junior loan officers rate their job?
Junior loan officer reviews
Helping People, secure a better financial future
Having to Decline applicants
when a person being assisted to obtain a loan to uplift their lives
when more loans are deliquent
This is a challenging position. It is not a one-size-fits-all job. The nature of your work depends heavily on the loan officer you work under. High-volume is no joke. You'll need to be sharp and focused all-day, every day you come to work.
It's lots of sitting in a chair. It requires 100% computer time, so you'll need to schedule breaks and get up and walk around intentionally.
Updated January 8, 2025
