Loan closers work for banks and other lending institutions to close on real estate mortgage loans. The job involves preparing, reviewing, and submitting important documents to ensure that it meets the stipulated regulations.
Loan closers work directly with loan officers, and frequently meet with them to answer questions on the borrower's behalf. They're involved in every aspect of the loan process, from the initial request to the final closure. Loan officers keep track of deposits and payments, arrange for property appraisals, and ensure that all closing documents are delivered. They may spend several hours meeting to discuss with borrowers, lenders and other middlemen during this process.
You'll need a high school diploma or GED at minimum to work as a loan officer. Experience with banking and loans in general is also required. It helps to have proficiency with loan software and Office Suites packages. After meeting these qualifications, you can earn an hourly rate of $18.34.