How to hire a loan assistant

How to hire a loan assistant, step by step

Here's a step-by-step loan assistant hiring guide:

• Step 1: Identify your hiring needs
• Step 2: Create an ideal candidate profile
• Step 3: Make a budget
• Step 4: Write a loan assistant job description
• Step 5: Post your job
• Step 6: Interview candidates
• Step 7: Send a job offer and onboard your new loan assistant
• Step 8: Go through the hiring process checklist

What does a loan assistant do?

Post a loan assistant job for free, promote it for a fee

Post free

1. Identify your hiring needs

   Before you start hiring a loan assistant, identify what type of worker you actually need. Certain positions might call for a full-time employee, while others can be done by a part-time worker or contractor.

   Determine employee vs contractor status

   Is the person you're thinking of hiring a US citizen or green card holder?

   Yes

   No

   Hiring the perfect loan assistant also involves considering the ideal background you'd like them to have. Depending on what industry or field they have experience in, they'll bring different skills to the job. It's also important to consider what levels of seniority and education the job requires and what kind of salary such a candidate would likely demand.

   This list presents loan assistant salaries for various positions.

   Type of Loan Assistant	Description	Hourly rate
   Loan Assistant	Financial clerks do administrative work for many types of organizations. They keep records, help customers, and carry out financial transactions.	$13-22
   Closing Coordinator	In the real estate industry, a closing coordinator is in charge of coordinating the final stages of a real estate deal, ensuring efficiency and smooth transaction. Among their responsibilities include preparing and processing legal documents, liaising with the buyer and seller, managing timelines and payment plans, and ensuring that both parties adhere to the terms of the agreement... Show more	$13-25
   Mortgage Processor	A mortgage processor is responsible for reviewing mortgage loan applications, evaluating applicants' documents, and verifying their eligibility for approval. Mortgage processors consider the applicant's financial statements, credit score, and other possible mortgage options... Show more	$14-25

   Show more

2. Create an ideal candidate profile

   Common skills:

   • Customer Service
   • Loan Applications
   • Mortgage Loans
   • Financial Statements
   • Order Appraisals
   • Data Entry
   • Credit Reports
   • UCC
   • Loan Payments
   • Origination
   • Loan Approval
   • Loan Portfolio
   • FHA
   • Loan Closings

   Check all skills

   Responsibilities:

   • Keep the ATM balance and fill.
   • General teller duties, responsible for balancing cash drawer, ATM, vault.
   • Background in commercial real estate lending, A/R lending, SBA, construction loans, and consumer lending.
   • Iprocess all NSF returns including and not limit to checks, ACH, chargebacks and all cash items.
   • Request and work with all SBA offices for loan documents as needed for disputes or proof of debt request.
   • Support streamlined document management for residential mortgage origination company.

   More loan assistant duties

3. Make a budget

   Including a salary range in your loan assistant job description helps attract top candidates to the position. A loan assistant salary can be affected by several factors, such as geography, experience, seniority, certifications, and the prestige of the hiring company.

   For example, the average salary for a loan assistant in Mississippi may be lower than in Washington, and an entry-level loan assistant usually earns less than a senior-level loan assistant. Additionally, a loan assistant with certifications may command a higher salary, and working for a well-known company or start-up may also impact an employee's pay.

   Average loan assistant salary

   $36,962yearly

   $17.77 hourly rate

   ---

   Entry-level loan assistant salary

   $28,000 yearly salary

   Updated December 5, 2025

   Average loan assistant salary by state

   Rank	State	Avg. salary	Hourly rate
   1	Washington	$45,307	$22
   2	New Jersey	$44,183	$21
   3	New York	$42,279	$20
   4	Massachusetts	$40,561	$20
   5	Colorado	$40,455	$19
   6	Tennessee	$40,075	$19
   7	Connecticut	$39,495	$19
   8	California	$38,878	$19
   9	New Hampshire	$38,446	$18
   10	Alaska	$37,924	$18
   11	Kansas	$37,199	$18
   12	Minnesota	$37,097	$18
   13	Oregon	$36,206	$17
   14	Iowa	$36,081	$17
   15	Alabama	$35,263	$17
   16	Oklahoma	$35,118	$17
   17	Illinois	$35,103	$17
   18	North Carolina	$35,063	$17
   19	Indiana	$34,799	$17
   20	Wisconsin	$34,515	$17

   Average loan assistant salary by company

   Company

   Rank	Company	Average salary	Hourly rate	Job openings
   1	University of California-Berkeley	$49,620	$23.86
   2	The University of Chicago	$49,501	$23.80
   3	Mayo Clinic	$46,613	$22.41
   4	CrossCountry Mortgage	$44,282	$21.29	138
   5	Summit Funding	$43,610	$20.97	12
   6	ESL Federal Credit Union	$43,543	$20.93
   7	Home Bancshares Inc.	$43,432	$20.88
   8	Simmons Bank	$42,604	$20.48	6
   9	Synovus	$42,103	$20.24
   10	PRMI Home Financing	$41,652	$20.02
   11	First Citizens Bank	$41,634	$20.02	1
   12	Carolina Farm Credit	$41,452	$19.93
   13	Northrim Bank	$41,262	$19.84	1
   14	Cardinal Financial	$40,781	$19.61	1
   15	Private Practice	$40,707	$19.57
   16	FNB	$40,683	$19.56
   17	Oak Valley Ban	$40,221	$19.34
   18	Discover	$39,938	$19.20
   19	Hanmi Financial	$39,824	$19.15	3
   20	D.R. Horton	$39,766	$19.12	8

4. Writing a loan assistant job description

   A loan assistant job description should include a summary of the role, required skills, and a list of responsibilities. It's also good to include a salary range and the first name of the hiring manager. To help get you started, here's an example of a loan assistant job description:

   Loan assistant job description example

   We are currently seeking an experienced Bilingual Mortgage Loan Assistant to join our team at our Fort Worth, TX location.
   
   The Mortgage Loan Assistant position includes assisting the Mortgage Loan Officer and Production team with the origination of mortgage loans through sales assistance, loan coordination, document collection and customer service. This position is fast paced, deadline driven, and offers a variety of tasks throughout the day.
   Job Duties and Responsibilities:
   Assist Mortgage Loan Officer during application process. Assist Mortgage Loan Officer in scheduling appointments and follow up appointments with prospective client(s) and/or real estate agents. Contact prospective borrowers and follow up with any missing necessary documents needed for pre-qualification process. Assist Mortgage Loan Officer with sales presentations, marketing and any office functions and activities Assist Mortgage Loan Officer in building relationships with the real estate agents, builders, etc. Keep pre-qualification files organized throughout the process. Assist Mortgage LO/LP in the initial set-up stage of all mortgage loans Load mortgage loan information into LOS as requested by LO/LP Maintain consistent follow up and communication with real estate agents and borrowers as requested by LO/LP on loan status. Assist Mortgage LO/LP in ordering and/or follow up for credit report, loan verifications, and title work, as requested. Hold weekly file status review with LO / LP as needed. Performs other duties as assigned.
   Job Requirements
   
   Education and Experience:
   High School Diploma Experience in Database Software, Spreadsheet Software, and Word Processing Software Fully bilingual in English/Spanish Required
   Required Abilities and Skills:
   Excellent verbal and written communications skills Analytical and demonstrates attention to detail Problem Solving - works well in group solving situations Proficiency in Microsoft Office Applications
   Compensation and Benefits:
   Competitive market-based salary, commensurate with experience and education Comprehensive benefits package available
   We are an Equal Opportunity Employer
   
   Please no phone calls or agency submissions!

   Copy this example

   

5. Post your job

   To find loan assistants for your business, try out a few different recruiting strategies:

   • Consider internal talent. One of the most important talent pools for any company is its current employees.
   • Ask for referrals. Reach out to friends, family members, and your current work to ask if they know any loan assistants they would recommend.
   • Recruit at local colleges. Attend job fairs at local colleges to recruit entry-level loan assistants with the right educational background.
   • Social media platforms. LinkedIn, Facebook, and Twitter have more than 3.5 billion users, and they're a great place for company branding and reaching potential job candidates.

   Post your job online:

   • Post your loan assistant job on Zippia to find and recruit loan assistant candidates who meet your exact specifications.
   • Use field-specific websites.
   • Post a job on free websites.

6. Interview candidates

   To successfully recruit loan assistants, your first interview needs to engage with candidates to learn about their interest in the role and experience in the field. You can go into more detail about the company, the role, and the responsibilities during follow-up interviews.

   It's also good to ask about candidates' unique skills and talents to see if they match your ideal candidate profile. If you think a candidate is good enough for the next step, you can move on to the technical interview.

   The right interview questions can help you assess a candidate's hard skills, behavioral intelligence, and soft skills.

7. Send a job offer and onboard your new loan assistant

   Once you've selected the best loan assistant candidate for the job, it's time to write an offer letter. In addition to salary, this letter should include details about the benefits and perks you offer the candidate. Ensuring that your offer is competitive is essential, as qualified candidates may be considering other job opportunities. The candidate may wish to negotiate the terms of the offer, and you should be open to discussion. After you reach an agreement, the final step is formalizing the agreement with a contract.

   It's also good etiquette to follow up with applicants who don't get the job by sending them an email letting them know that the position has been filled.

   To prepare for the new loan assistant first day, you should share an onboarding schedule with them that covers their first period on the job. You should also quickly complete any necessary paperwork, such as employee action forms and onboarding documents like I-9, benefits enrollment, and federal and state tax forms. Finally, Human Resources must ensure a new employee file is created for internal record keeping.

8. Go through the hiring process checklist

   • Determine employee type (full-time, part-time, contractor, etc.)
   • Submit a job requisition form to the HR department
   • Define job responsibilities and requirements
   • Establish budget and timeline
   • Determine hiring decision makers for the role
   • Write job description
   • Post job on job boards, company website, etc.
   • Promote the job internally
   • Process applications through applicant tracking system
   • Review resumes and cover letters
   • Shortlist candidates for screening
   • Hold phone/virtual interview screening with first round of candidates
   • Conduct in-person interviews with top candidates from first round
   • Score candidates based on weighted criteria (e.g., experience, education, background, cultural fit, skill set, etc.)
   • Conduct background checks on top candidates
   • Check references of top candidates
   • Consult with HR and hiring decision makers on job offer specifics
   • Extend offer to top candidate(s)
   • Receive formal job offer acceptance and signed employment contract
   • Inform other candidates that the position has been filled
   • Set and communicate onboarding schedule to new hire(s)
   • Complete new hire paperwork (i9, benefits enrollment, tax forms, etc.)

   Sign up to download full list

   Sign up

How much does it cost to hire a loan assistant?