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The differences between loan assistants and loan officers assistant can be seen in a few details. Each job has different responsibilities and duties. While it typically takes 2-4 years to become a loan assistant, becoming a loan officer assistant takes usually requires 4-6 years. Additionally, a loan officer assistant has an average salary of $45,681, which is higher than the $36,962 average annual salary of a loan assistant.
The top three skills for a loan assistant include customer service, loan applications and mortgage loans. The most important skills for a loan officer assistant are customer service, origination, and loan process.
| Loan Assistant | Loan Officer Assistant | |
| Yearly salary | $36,962 | $45,681 |
| Hourly rate | $17.77 | $21.96 |
| Growth rate | -3% | 4% |
| Number of jobs | 8,923 | 65,094 |
| Job satisfaction | - | 4 |
| Most common degree | Bachelor's Degree, 51% | Bachelor's Degree, 53% |
| Average age | 42 | 45 |
| Years of experience | 4 | 6 |
Loan assistants act as support primarily to loan officers in preparing, reviewing, and verifying account documentation pertinent to loans. Also, ensuring the completeness of the loan files and that all collateral has been properly secured. In addition, loan assistants update collateral values on commercial and residential real estate loans as assigned by senior management. They stay within the guidelines established by bank policy and maintain the highest level of confidentiality with all information obtained.
Loan Officer Assistants assist loan officers in processing the loan applications of clients. Loan officer assistants primarily work on the administrative tasks in the departments. They are in charge of managing documents, updating databases, and sorting files. Loan officer assistants may be assigned to review applications of clients. They should check whether both the application form and the supplementary documents are complete. They may also assess whether the clients meet the requirements for the loan. Upon checking, they manage the documents and package them for submission to the lender. Loan officer assistance may also be assigned to coordinate with lenders and update in-house policies according to the lenders' policies.
Loan assistants and loan officers assistant have different pay scales, as shown below.
| Loan Assistant | Loan Officer Assistant | |
| Average salary | $36,962 | $45,681 |
| Salary range | Between $28,000 And $47,000 | Between $28,000 And $72,000 |
| Highest paying City | Olympia, WA | New York, NY |
| Highest paying state | Washington | New York |
| Best paying company | University of California, Berkeley | Stifel Financial |
| Best paying industry | Finance | Finance |
There are a few differences between a loan assistant and a loan officer assistant in terms of educational background:
| Loan Assistant | Loan Officer Assistant | |
| Most common degree | Bachelor's Degree, 51% | Bachelor's Degree, 53% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | SUNY at Binghamton |
Here are the differences between loan assistants' and loan officers assistant' demographics:
| Loan Assistant | Loan Officer Assistant | |
| Average age | 42 | 45 |
| Gender ratio | Male, 18.2% Female, 81.8% | Male, 28.8% Female, 71.2% |
| Race ratio | Black or African American, 12.2% Unknown, 4.3% Hispanic or Latino, 15.4% Asian, 7.4% White, 60.2% American Indian and Alaska Native, 0.4% | Black or African American, 9.1% Unknown, 4.6% Hispanic or Latino, 15.7% Asian, 6.3% White, 63.8% American Indian and Alaska Native, 0.5% |
| LGBT Percentage | 7% | 8% |