There is more than meets the eye when it comes to being a loan broker. For example, did you know that they make an average of $57.59 an hour? That's $119,784 a year! Between 2018 and 2028, the career is expected to grow 8% and produce 24,300 job opportunities across the U.S.

What Does a Loan Broker Do

There are certain skills that many loan brokers have in order to accomplish their responsibilities. By taking a look through resumes, we were able to narrow down the most common skills for a person in this position. We discovered that a lot of resumes listed detail oriented, initiative and interpersonal skills.

How To Become a Loan Broker

If you're interested in becoming a loan broker, one of the first things to consider is how much education you need. We've determined that 59.4% of loan brokers have a bachelor's degree. In terms of higher education levels, we found that 10.3% of loan brokers have master's degrees. Even though most loan brokers have a college degree, it's possible to become one with only a high school degree or GED.

Loan Broker Career Paths

Average Salary for a Loan Broker

Loan Brokers in America make an average salary of $119,784 per year or $58 per hour. The top 10 percent makes over $175,000 per year, while the bottom 10 percent under $81,000 per year.
Average Loan Broker Salary
$119,784 Yearly
$57.59 hourly
$81,000
10 %
$119,000
Median
$175,000
90 %

What Am I Worth?

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How To Become a Loan Broker
How To Become a Loan Broker Career Overview

States With The Most Loan Broker Jobs

Mouse over a state to see the number of active loan broker jobs in each state. The darker areas on the map show where loan brokers earn the highest salaries across all 50 states.

Average Salary: Job Openings:

Number Of Loan Broker Jobs By State

RankStateNumber of JobsAverage Salary
1California1,508$125,653
2Texas1,207$137,720
3Florida1,011$118,226
4Illinois720$114,824
5Ohio611$105,230
6Arizona595$87,522
7New York577$113,389
8North Carolina517$98,779
9Pennsylvania515$94,051
10Minnesota513$119,743
11Georgia471$109,954
12Michigan463$117,627
13New Jersey435$120,346
14Colorado414$101,481
15Washington361$138,487
16Missouri351$103,104
17Virginia328$97,904
18Indiana313$90,024
19Maryland273$123,046
20Massachusetts273$119,113
21Tennessee258$96,877
22Wisconsin224$108,502
23Utah209$89,910
24Iowa206$106,484
25South Carolina204$111,658
26Alabama199$105,109
27Kentucky189$106,473
28Oregon182$120,847
29Kansas165$103,672
30Connecticut138$107,637
31Nevada132$93,881
32Mississippi110$99,502
33Louisiana106$101,295
34Arkansas103$133,203
35Nebraska100$117,108
36Oklahoma98$108,333
37Idaho91$99,774
38Maine90$128,624
39Rhode Island70$117,204
40South Dakota69$110,005
41Delaware69$116,999
42North Dakota66$109,267
43New Mexico63$139,604
44Montana58$100,459
45Hawaii55$92,829
46West Virginia52$106,400
47Wyoming51$116,112
48New Hampshire47$108,346
49Vermont39$117,518
50Alaska39$94,919

Loan Broker Education

Loan Broker Majors

30.1 %
10.5 %

Loan Broker Degrees

Bachelors

59.4 %

Associate

13.5 %

High School Diploma

11.0 %

Top Colleges for Loan Brokers

1. University of Pennsylvania

Philadelphia, PA • Private

In-State Tuition
$55,584
Enrollment
10,764

2. Northwestern University

Evanston, IL • Private

In-State Tuition
$54,568
Enrollment
8,451

3. University of Southern California

Los Angeles, CA • Private

In-State Tuition
$56,225
Enrollment
19,548

4. SUNY at Binghamton

Vestal, NY • Private

In-State Tuition
$9,808
Enrollment
13,990

5. Villanova University

Villanova, PA • Private

In-State Tuition
$53,308
Enrollment
6,819

6. San Diego State University

San Diego, CA • Private

In-State Tuition
$7,488
Enrollment
30,018

7. Bentley University

Waltham, MA • Private

In-State Tuition
$49,880
Enrollment
4,177

8. Boston University

Boston, MA • Private

In-State Tuition
$53,948
Enrollment
17,238

9. SUNY Stony Brook

Stony Brook, NY • Private

In-State Tuition
$9,625
Enrollment
17,407

10. New York University

New York, NY • Private

In-State Tuition
$51,828
Enrollment
26,339

Top Skills For a Loan Broker

The skills section on your resume can be almost as important as the experience section, so you want it to be an accurate portrayal of what you can do. Luckily, we've found all of the skills you'll need so even if you don't have these skills yet, you know what you need to work on. Out of all the resumes we looked through, 22.5% of loan brokers listed financial statements on their resume, but soft skills such as detail oriented and initiative are important as well.

  • Financial Statements, 22.5%
  • Customer Service, 22.3%
  • Loan Applications, 10.5%
  • Commercial Loans, 8.4%
  • Loan Process, 7.3%
  • Other Skills, 29.0%

Choose From 10+ Customizable Loan Broker Resume templates

Zippia allows you to choose from different easy-to-use Loan Broker templates, and provides you with expert advice. Using the templates, you can rest assured that the structure and format of your Loan Broker resume is top notch. Choose a template with the colors, fonts & text sizes that are appropriate for your industry.

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Loan Broker Resume

Loan Broker Demographics

Loan Broker Gender Distribution

Male
Male
59%
Female
Female
41%

After extensive research and analysis, Zippia's data science team found that:

  • Among loan brokers, 41.2% of them are women, while 58.8% are men.

  • The most common race/ethnicity among loan brokers is White, which makes up 68.1% of all loan brokers.

  • The most common foreign language among loan brokers is Spanish at 46.2%.

Work Experience Programs For Loan Brokers

Virtual work experience programs replicate work at top companies and help you gain the skills to be successful when applying and working there. In only a few hours, learn the relevant tools necessary to complete a typical work day at that company. Virtual work experience programs are 100% free, open-access, and self-paced. No experience or application is required!

Tax Program

Company: KPMG AU

Cost: Free

Duration: 5-6 hours

Career Catalyst: Tax Program

Company: KPMG U.S.

Cost: Free

Duration: 3-4 hours

Audit Program

Company: Grant Thornton Australia

Cost: Free

Duration: 5-6 hours

Workplace Preparation Program

Company: ANZ

Cost: Free

Duration: 5-6 hours

Business and Human Rights Program

Company: Clifford Chance

Cost: Free

Duration: 7.5-8.5 hours

Data Visualisation: Empowering Business with Effective Insights Program

Company: Tata

Cost: Free

Duration: 3.5-4.5 hours

Developer Program

Company: Accenture Nordics

Cost: Free

Duration: 2-3 hours

Data Analytics Program

Company: General Electric

Cost: Free

Duration: 5-6 hours

Corporate Tax Program

Company: PwC Switzerland

Cost: Free

Duration: 7-8 hours

Global Banking & Markets Program

Company: HSBC

Cost: Free

Duration: 5-6 hours

Online Courses For Loan Broker That You May Like

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Top Loan Broker Employers

Most Common Employers For Loan Broker

RankCompanyAverage SalaryHourly RateJob Openings
1The Asia Group$150,495$72.351
2Raymond$114,303$54.951
3United Brokers Group$111,059$53.391
4Cfs$110,604$53.171
5Liberty Mortgage Group$104,023$50.012
6David Allen Capital$100,131$48.144
7The New West$100,011$48.081
8Wipro Limited$97,824$47.033
9ICAP$92,220$44.3410
10Meridian Group International$90,732$43.622