Working as a Loan Representative

There is more than meets the eye when it comes to being a loan representative. For example, did you know that they make an average of $17.19 an hour? That's $35,745 a year!

Between 2018 and 2028, the career is expected to grow 5% and produce 72,100 job opportunities across the U.S.

What Does a Loan Representative Do

There are certain skills that many loan representatives 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 representative, we found that a lot of resumes listed 33.5% of loan representatives included loan applications, while 6.8% of resumes included customer service, and 3.8% of resumes included payment arrangements. 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 representative job title. But what industry to start with? Most loan representatives actually find jobs in the finance and professional industries.

How To Become a Loan Representative

If you're interested in becoming a loan representative, one of the first things to consider is how much education you need. We've determined that 35.3% of loan representatives have a bachelor's degree. In terms of higher education levels, we found that 6.4% of loan representatives have master's degrees. Even though some loan representatives 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 representative. When we researched the most common majors for a loan representative, we found that they most commonly earn bachelor's degree degrees or high school diploma degrees. Other degrees that we often see on loan representative resumes include associate degree degrees or master's degree degrees.

You may find that experience in other jobs will help you become a loan representative. In fact, many loan representative jobs require experience in a role such as customer service representative. Meanwhile, many loan representatives also have previous career experience in roles such as cashier or teller.

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Average Salary$35,745
Job Growth Rate5%

Loan Representative Jobs

Loan Representative Career Paths

Top Careers Before Loan Representative
Cashier8.9 %
Teller8.5 %
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Top Careers After Loan Representative
Cashier7.3 %
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What is the right job for my career path?

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

Average Salary for a Loan Representative

Loan Representatives in America make an average salary of $35,745 per year or $17 per hour. The top 10 percent makes over $52,000 per year, while the bottom 10 percent under $24,000 per year.
Average Salary
$35,745

Recently Added Salaries

Job TitleCompanyCompanyStart DateSalary
Data Processing & Loan Representative
Data Processing & Loan Representative
Utah System of Higher Education
Utah System of Higher Education
07/22/2020
07/22/2020
$29,21807/22/2020
$29,218
Auto Loan Representative
Auto Loan Representative
Randstad
Randstad
06/10/2020
06/10/2020
$35,47906/10/2020
$35,479
Seasonal-Student Loans Representative
Seasonal-Student Loans Representative
Discover Financial Services
Discover Financial Services
04/25/2020
04/25/2020
$33,39204/25/2020
$33,392
Auto Loan Representative
Auto Loan Representative
Randstad
Randstad
04/10/2020
04/10/2020
$31,30504/10/2020
$31,305
Loan Representative
Loan Representative
Robert Half
Robert Half
03/26/2020
03/26/2020
$41,74003/26/2020
$41,740

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Loan Representative Demographics

Gender

Female

61.5 %

Male

34.4 %

Unknown

4.1 %
Ethnicity

White

61.9 %

Hispanic or Latino

17.8 %

Black or African American

10.8 %
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Foreign Languages Spoken

Spanish

60.5 %

Portuguese

4.9 %

German

4.9 %
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Loan Representative Education

Schools

Florida State University

17.9 %

Kaplan University

7.5 %

Robert Morris University

6.6 %

University of Southern Indiana

5.7 %
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Majors

Business

33.9 %

Accounting

9.7 %

Finance

7.5 %

General Studies

5.3 %
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Degrees

Bachelors

35.3 %

High School Diploma

25.5 %

Associate

20.5 %

Certificate

6.8 %
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Entry Level Jobs For Becoming A Loan Representative

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Full Time
Part Time
Internship
Temporary

Top Skills For a Loan Representative

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, 33.5% of loan representatives listed loan applications on their resume, but soft skills such as math skills and communication skills are important as well.

Loan Representative Resumes

Designing and figuring out what to include on your resume can be tough, not to mention time-consuming. That's why we put together a guide that is designed to help you craft the perfect resume for becoming a loan representative. If you're needing extra inspiration, take a look through our selection of templates that are specific to your job.

At Zippia, we went through countless loan representative resumes and compiled some information about how best to optimize them. Here are some suggestions based on what we found, divided by the individual sections of the resume itself.

Learn How To Write a Loan Representative Resume

At Zippia, we went through countless loan representative resumes and compiled some information about how best to optimize them. Here are some suggestions based on what we found, divided by the individual sections of the resume itself.

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Top Loan Representative Employers

1. Wells Fargo
4.8
Avg. Salary: 
$42,050
Loan Representatives Hired: 
101+
2. JPMorgan Chase
4.9
Avg. Salary: 
$75,304
Loan Representatives Hired: 
58+
3. Sallie Mae Bank
4.6
Avg. Salary: 
$41,117
Loan Representatives Hired: 
53+
4. Bank of America
4.8
Avg. Salary: 
$56,114
Loan Representatives Hired: 
43+
5. Citi
4.9
Avg. Salary: 
$73,912
Loan Representatives Hired: 
23+
6. WORLD SAVINGS LOAN ASSOC
4.4
Avg. Salary: 
$60,438
Loan Representatives Hired: 
21+

Loan Representative Videos

Recently Added Loan Representative Jobs

Updated October 2, 2020