Find The Best Loan Broker Jobs For You

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Working as a Loan Broker

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 $77.09 an hour? That's $160,346 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.

When it comes to the most important skills required to be a loan broker, we found that a lot of resumes listed 19.2% of loan brokers included financial statements, while 18.1% of resumes included loan portfolio, and 16.7% of resumes included customer service. Hard skills like these are helpful to have when it comes to performing essential job responsibilities.

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 44.4% of loan brokers have a bachelor's degree. In terms of higher education levels, we found that 13.3% 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.

Choosing the right major is always an important step when researching how to become a loan broker. When we researched the most common majors for a loan broker, we found that they most commonly earn bachelor's degree degrees or high school diploma degrees. Other degrees that we often see on loan broker resumes include master's degree degrees or associate degree degrees.

You may find that experience in other jobs will help you become a loan broker. In fact, many loan broker jobs require experience in a role such as loan officer. Meanwhile, many loan brokers also have previous career experience in roles such as account executive or vice president.

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Average Salary$160,346
Job Growth Rate8%

Loan Broker Career Paths

Top Careers Before Loan Broker

Top Careers After Loan Broker

Owner
9.0 %

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Tell us your goals and we'll match you with the rights job to get there.

Average Salary for a Loan Broker

Loan Brokers in America make an average salary of $160,346 per year or $77 per hour. The top 10 percent makes over $223,000 per year, while the bottom 10 percent under $114,000 per year.
Average Salary
$160,346

Best Paying Cities

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Recently Added Salaries

Job TitleCompanyCompanyStart DateSalary
Commercial Loan Broker
Commercial Loan Broker
Triple Eight Properties Inc.
Triple Eight Properties Inc.
12/12/2015
12/12/2015
$49,50012/12/2015
$49,500

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Loan Broker Demographics

Gender

male

52.4 %

female

37.8 %

unknown

9.8 %

Ethnicity

White

69.1 %

Hispanic or Latino

14.4 %

Black or African American

8.2 %

Foreign Languages Spoken

Spanish

46.2 %

Chinese

15.4 %

Mandarin

15.4 %
See More Demographics

Loan Broker Education

Majors

Business
25.0 %
Finance
12.5 %

Degrees

Bachelors

44.4 %

High School Diploma

20.0 %

Masters

13.3 %

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 • Public

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 • Public

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 • Public

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

10. New York University

New York, NY • Private

In-State Tuition
$51,828
Enrollment
26,339
See More Education Info
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Full Time
Part Time
Internship
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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, 19.2% of loan brokers listed financial statements on their resume, but soft skills such as detail oriented and initiative are important as well.

  • Financial Statements, 19.2%
  • Loan Portfolio, 18.1%
  • Customer Service, 16.7%
  • Loan Applications, 15.3%
  • Real Estate, 8.2%
  • Other Skills, 22.5%
  • See All Loan Broker Skills

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Top Loan Broker Employers

1. David Allen
3.3
Avg. Salary: 
$141,206
Loan Brokers Hired: 
4+
2. Wipro
4.0
Avg. Salary: 
$100,542
Loan Brokers Hired: 
3+
3. Meridian Capital
4.3
Avg. Salary: 
$181,269
Loan Brokers Hired: 
2+
4. First Cash Financial Services
4.1
Avg. Salary: 
$185,415
Loan Brokers Hired: 
2+
5. M S International
4.7
Avg. Salary: 
$159,937
Loan Brokers Hired: 
2+
6. ICAP
4.1
Avg. Salary: 
$172,547
Loan Brokers Hired: 
2+
Updated October 2, 2020