There is more than meets the eye when it comes to being a loan officer/loan processor. For example, did you know that they make an average of $31.35 an hour? That's $65,199 a year!
Between 2018 and 2028, the career is expected to grow 8% and produce 24,300 job opportunities across the U.S.
There are certain skills that many loan officers/loan processor 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 math skills, communication skills and interpersonal skills.
When it comes to the most important skills required to be a loan officer/loan processor, we found that a lot of resumes listed 32.8% of loan officers/loan processor included loan applications, while 6.1% of resumes included financial status, and 4.9% of resumes included lenders. Hard skills like these are helpful to have when it comes to performing essential job responsibilities.
When it comes to searching for a job, many search for a key term or phrase. Instead, it might be more helpful to search by industry, as you might be missing jobs that you never thought about in industries that you didn't even think offered positions related to the loan officer/loan processor job title. But what industry to start with? Most loan officers/loan processor actually find jobs in the finance and technology industries.
If you're interested in becoming a loan officer/loan processor, one of the first things to consider is how much education you need. We've determined that 36.8% of loan officers/loan processor have a bachelor's degree. In terms of higher education levels, we found that 9.9% of loan officers/loan processor have master's degrees. Even though some loan officers/loan processor 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 officer/loan processor. When we researched the most common majors for a loan officer/loan processor, we found that they most commonly earn bachelor's degree degrees or associate degree degrees. Other degrees that we often see on loan officer/loan processor resumes include high school diploma degrees or master's degree degrees.
You may find that experience in other jobs will help you become a loan officer/loan processor. In fact, many loan officer/loan processor jobs require experience in a role such as loan officer. Meanwhile, many loan officers/loan processor also have previous career experience in roles such as loan processor or customer service representative.
