How To Become A Loan Clerk: What It Is and Career Path

What is a loan clerk and how to become one

Updated January 8, 2025

3 min read

The average loan clerk salary is $26,552. The most common degree is a bachelor's degree degree with an business major. It usually takes 2-4 years of experience to become a loan clerk. Loan clerks with a Certified Management Accountant (CMA) certification earn more money. Between 2018 and 2028, the career is expected to grow -3% and produce -38,500 job opportunities across the U.S.

ScoreLoan ClerkUS Average

Salary

2.1

Avg. Salary $26,552

Avg. Salary $59,228

Stability level

8.6

Growth rate -3%

Growth rate 0.3%

Diversity

8.5

Race

American Indian and Alaska Native 0.55%

Asian 6.98%

Black or African American 12.91%

Hispanic or Latino 14.58%

Unknown 4.71%

White 60.28%

Gender

female 83.08%

male 16.92%

Age - 41

Race

American Indian and Alaska Native 3.00%

Asian 7.00%

Black or African American 14.00%

Hispanic or Latino 19.00%

White 57.00%

Gender

female 47.00%

male 53.00%

Age - 41

Stress level

8.6

Stress level is very high

7.1 - high

Complexity level

6.9

Complexity level is challenging

7 - challenging

Work life balance

5.2

Work life balance is fair

6.4 - fair

Key steps to become a loan clerk

Explore loan clerk education requirements

Most common loan clerk degrees

Bachelor's

40.2 %

High School Diploma

25.1 %

Associate

22.8 %

Start to develop specific loan clerk skills

Skills	Percentages
Customer Service	21.74%
Loan Payments	11.53%
Financial Data	9.64%
Mortgage Loans	4.85%
Credit Reports	4.36%

Complete relevant loan clerk training and internships

Accountants spend an average of 1-2 years on post-employment, on-the-job training. New loan clerks 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 loan clerk based on U.S. Bureau of Labor Statistics data and data from real loan clerk resumes.

Research loan clerk duties and responsibilities

Manage A/R transactions, prepare weekly account reconciliation's, perform research/ adjustments on A/P and A/R discrepancy accounts.
Monitor UCC filings and updates.
Prepare SBA loans using WordPrefect.
Record UCC filings on-line and by mail.

Prepare your loan clerk resume

When your background is strong enough, you can start writing your loan clerk 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 loan clerk resume. You'll find resume tips and examples of skills, responsibilities, and summaries, all provided by Zippi, your career sidekick.

Choose from 10+ customizable loan clerk resume templates

Build a professional loan clerk 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 loan clerk resume.