How to hire a loan originator

How to hire a loan originator, step by step

Here's a step-by-step loan originator hiring guide:

• Step 1: Identify your hiring needs
• Step 2: Create an ideal candidate profile
• Step 3: Make a budget
• Step 4: Write a loan originator job description
• Step 5: Post your job
• Step 6: Interview candidates
• Step 7: Send a job offer and onboard your new loan originator
• Step 8: Go through the hiring process checklist

What does a loan originator do?

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1. Identify your hiring needs

   Before you start hiring a loan originator, identify what type of worker you actually need. Certain positions might call for a full-time employee, while others can be done by a part-time worker or contractor.

   Determine employee vs contractor status

   Is the person you're thinking of hiring a US citizen or green card holder?

   Yes

   No

   Hiring the perfect loan originator also involves considering the ideal background you'd like them to have. Depending on what industry or field they have experience in, they'll bring different skills to the job. It's also important to consider what levels of seniority and education the job requires and what kind of salary such a candidate would likely demand.

   This list shows salaries for various types of loan originators.

   Type of Loan Originator	Description	Hourly rate
   Loan Originator	Loan officers evaluate, authorize, or recommend approval of loan applications for people and businesses.	$13-28
   Closer	The duties of a closer depend on one's line of work or industry of employment. Typically, their responsibilities revolve around liaising with clients to ensure that they understand and adhere to all terms of the agreement, completing all requirements and necessary documents, and maintaining records of all transactions... Show more	$9-19
   Mortgage Consultant	A mortgage consultant is a professional who helps customers and businesses identify the best option for mortgage deals based on their financial resources. To maintain an excellent relationship with clients, mortgage consultants must possess a broad knowledge of the company's products to answer all the clients' queries and concerns... Show more	$11-30

   Show more

2. Create an ideal candidate profile

   Common skills:

   • Customer Service
   • Origination
   • FHA
   • Va
   • Phone Calls
   • Excellent Interpersonal
   • NMLS
   • Financial Data
   • Financial Services
   • Credit Reports
   • Loan Products
   • Loan Packages
   • RESPA
   • USDA

   Check all skills

   Responsibilities:

   • Supervise and manage the processing staff and also underwrite conventional loans for correspondent lenders.
   • Complete yearly the NMLS continuing education requirements.
   • Direct lender with FNMA while maintaining all loan servicing.
   • Increase revenues and product awareness by cross-selling service lines and packages.
   • Complete a rigorous training program and have obtained 25 NMLS state licensing requirements to be a loan originator.
   • Review FHA case number assignments, mortgage credit rejects and refinances authorizations to determine qualification.

   More loan originator duties

3. Make a budget

   Including a salary range in your loan originator job description is one of the best ways to attract top talent. A loan originator can vary based on:

   • Location. For example, loan originators' average salary in mississippi is 38% less than in south dakota.
   • Seniority. Entry-level loan originators 53% less than senior-level loan originators.
   • Certifications. A loan originator with certifications usually earns a higher salary.
   • Company. Working for an established firm or a new start-up company can make a big difference in a loan originator's salary.

   Average loan originator salary

   $41,291yearly

   $19.85 hourly rate

   ---

   Entry-level loan originator salary

   $28,000 yearly salary

   Updated December 28, 2025

   Average loan originator salary by state

   Rank	State	Avg. salary	Hourly rate
   1	New York	$49,830	$24
   2	New Jersey	$49,068	$24
   3	Hawaii	$48,139	$23
   4	Florida	$46,830	$23
   5	Minnesota	$46,745	$22
   6	Oregon	$44,144	$21
   7	Washington	$43,910	$21
   8	Colorado	$43,351	$21
   9	New Hampshire	$42,788	$21
   10	California	$42,671	$21
   11	Massachusetts	$42,284	$20
   12	Texas	$42,029	$20
   13	Michigan	$41,651	$20
   14	Illinois	$41,223	$20
   15	North Carolina	$40,117	$19
   16	Ohio	$39,978	$19
   17	South Carolina	$39,733	$19
   18	Georgia	$37,872	$18
   19	Louisiana	$37,498	$18
   20	Arizona	$37,384	$18

   Average loan originator salary by company

   Company

   Rank	Company	Average salary	Hourly rate	Job openings
   1	Home Bancshares Inc.	$47,792	$22.98	25
   2	Cardinal Financial	$46,132	$22.18	5
   3	D.R. Horton	$45,731	$21.99	32
   4	Citywide Mortgage	$45,118	$21.69
   5	Pima Federal Credit Union	$44,853	$21.56
   6	Symetra	$44,809	$21.54
   7	FARMERS INTERNATIONAL	$43,695	$21.01
   8	A/E Graphics	$43,565	$20.94
   9	Ameri-First Financial	$43,542	$20.93
   10	Cross River	$43,442	$20.89
   11	Direct Mortgage, Inc.	$43,389	$20.86	2
   12	United Community Bank	$43,321	$20.83	26
   13	Hilltop Holdings	$42,705	$20.53	169
   14	America First Credit Union	$42,561	$20.46	1
   15	AmeriSave Mortgage	$42,453	$20.41	25
   16	Triad Financial Sm Llc	$42,325	$20.35
   17	Randstad North America, Inc.	$42,199	$20.29	7
   18	Alaska USA	$42,175	$20.28
   19	Robert Half	$41,975	$20.18	8
   20	1st MidAmerica Credit Union	$41,224	$19.82	6

4. Writing a loan originator job description

   A good loan originator job description should include a few things:

   • Summary of the role
   • List of responsibilities
   • Required skills and experience

   Including a salary range and the first name of the hiring manager is also appreciated by candidates. Here's an example of a loan originator job description:

   Loan originator job description example

   Streamline Home Loans was created in part because we understand how complex and demanding the lending process can be, and we wanted to simplify it. The name was chosen with purpose. Our management team has over 50 years of experience and our loan originators rank consistently in the top 1% nationwide for a reason. We have innovative technology, premier customer service, competitive interest rates, strong relationships with our customers and real estate agents, and a wide range of loan products. Our mission is to is to build a leading mortgage company that benefits our customers, employees, and communities.

   Job Description – Loan Originator

   We are hiring full-time, experienced loan originators to join our rapidly growing company. As a loan originator, you will work directly with consumers to provide mortgage guidance and financing options and originate residential loans for purchases and refinance. Streamline’s talented loan processing teams and operations staff will provide top tier support and service to raise your business to new heights.

   Your business will come from the combination of past clients, your self-sourced database of contacts and realtor relationships, as well as leads we generate and purchase for you from multiple channels, corporate and affinity partnerships, media, and joint venture sources to expand your business.

   Win more deals with very competitive pricing and no origination, no underwriting, and no processing fees!

   Benefits:

   This position is 100% commission-based W-2 employment. We offer some of the most competitive compensation plans in the industry! We offer a robust selection of PPO health plans and a national network so you can choose what is best for your needs. Dental, vision, and long-term disability. We offer 401k with a company match!

   Locations:

   Las Vegas, NV

   Henderson, NV

   Houston, TX

   El Paso, TX

   Austin, TX

   Columbia, SC

   Charleston, SC

   Denver, CO

   Copy this example

   

5. Post your job

   To find loan originators for your business, try out a few different recruiting strategies:

   • Consider internal talent. One of the most important talent pools for any company is its current employees.
   • Ask for referrals. Reach out to friends, family members, and your current work to ask if they know any loan originators they would recommend.
   • Recruit at local colleges. Attend job fairs at local colleges to recruit entry-level loan originators with the right educational background.
   • Social media platforms. LinkedIn, Facebook, and Twitter have more than 3.5 billion users, and they're a great place for company branding and reaching potential job candidates.

   Post your job online:

   • Post your loan originator job on Zippia to find and attract quality loan originator candidates.
   • Use niche websites such as efinancialcareers, financialjobsweb.com, careerbank, financial job bank.
   • Post a job on free websites.

6. Interview candidates

   Recruiting loan originators requires you to bring your A-game to the interview process. The first interview should introduce the company and the role to the candidate as much as they present their background experience and reasons for applying for the job. During later interviews, you can go into more detail about the technical details of the job and ask behavioral questions to gauge how they'd fit into your current company culture.

   You should also ask about candidates' unique skills and talents to see if they match the ideal candidate profile you developed earlier. Candidates good enough for the next step can complete the technical interview.

   The right interview questions can help you assess a candidate's hard skills, behavioral intelligence, and soft skills.

7. Send a job offer and onboard your new loan originator

   Once you've decided on a perfect loan originator candidate, it's time to write an offer letter. In addition to salary, it should include benefits and perks available to the employee. Qualified candidates may be considered for other positions, so make sure your offer is competitive. Candidates may wish to negotiate. Once you've settled on the details, formalize your agreement with a contract.

   It's also important to follow up with applicants who do not get the job with an email letting them know that the position is filled.

   To prepare for the new loan originator first day, you should share an onboarding schedule with them that covers their first period on the job. You should also quickly complete any necessary paperwork, such as employee action forms and onboarding documents like I-9, benefits enrollment, and federal and state tax forms. Finally, Human Resources must ensure a new employee file is created for internal record keeping.

8. Go through the hiring process checklist

   • Determine employee type (full-time, part-time, contractor, etc.)
   • Submit a job requisition form to the HR department
   • Define job responsibilities and requirements
   • Establish budget and timeline
   • Determine hiring decision makers for the role
   • Write job description
   • Post job on job boards, company website, etc.
   • Promote the job internally
   • Process applications through applicant tracking system
   • Review resumes and cover letters
   • Shortlist candidates for screening
   • Hold phone/virtual interview screening with first round of candidates
   • Conduct in-person interviews with top candidates from first round
   • Score candidates based on weighted criteria (e.g., experience, education, background, cultural fit, skill set, etc.)
   • Conduct background checks on top candidates
   • Check references of top candidates
   • Consult with HR and hiring decision makers on job offer specifics
   • Extend offer to top candidate(s)
   • Receive formal job offer acceptance and signed employment contract
   • Inform other candidates that the position has been filled
   • Set and communicate onboarding schedule to new hire(s)
   • Complete new hire paperwork (i9, benefits enrollment, tax forms, etc.)

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How much does it cost to hire a loan originator?