How to hire a senior loan officer

How to hire a senior loan officer, step by step

Here's a step-by-step senior loan officer hiring guide:

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

What does a senior loan officer do?

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1. Identify your hiring needs

   The senior loan officer hiring process starts by determining what type of worker you actually need. Certain roles might require a full-time employee, whereas part-time workers or contractors can do others.

   Determine employee vs contractor status

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

   Yes

   No

   A senior loan officer's background is also an important factor in determining whether they'll be a good fit for the position. For example, senior loan officers from different industries or fields will have radically different experiences and will bring different viewpoints to the role. You also need to consider the candidate's previous level of experience to make sure they'll be comfortable with the job's level of seniority.

   Here's a comparison of senior loan officer salaries for various roles:

   Type of Senior Loan Officer	Description	Hourly rate
   Senior Loan Officer	Loan officers evaluate, authorize, or recommend approval of loan applications for people and businesses.	$13-22
   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
   Loan Consultant	A Loan Consultant specializes in assessing loan applications to ensure potential clients uphold their financial obligations. Their responsibilities include conducting interviews with applicants, reviewing and verifying documentation, and evaluating financial credit and other records... Show more	$12-25

   Show more

2. Create an ideal candidate profile

   Common skills:

   • Customer Service
   • Loan Applications
   • Origination
   • Business Relationships
   • FHA
   • Va
   • SR
   • Loan Programs
   • Loan Products
   • Business Development
   • Loan Process
   • NMLS
   • Credit Reports
   • Mortgage Applications

   Check all skills

   Responsibilities:

   • Oversee the loan origination process from inception to completion and initiate aggressive business growth opportunities in a highly competitive market.
   • Maintain close relationships with loan processors and problem-solve upcoming issues to ensure quality loan origination and minimize last-minute conditions of approval.
   • Prepare FNMA 1003 and RESPA documents.
   • Underwrite over 30 FNMA modification loans determining terms of trial and permanent modifications.
   • Utilize automated underwriting engines to assess credit and collateral risk conventional and FHA lending.
   • Establish communication with escrow officers, processors, loan officers and underwriter regarding loan status and/or missing information.

   More senior loan officer duties

3. Make a budget

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

   • Location. For example, senior loan officers' average salary in idaho is 44% less than in hawaii.
   • Seniority. Entry-level senior loan officers 37% less than senior-level senior loan officers.
   • Certifications. A senior loan officer 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 senior loan officer's salary.

   Average senior loan officer salary

   $37,162yearly

   $17.87 hourly rate

   ---

   Entry-level senior loan officer salary

   $29,000 yearly salary

   Updated December 29, 2025

   Average senior loan officer salary by state

   Rank	State	Avg. salary	Hourly rate
   1	Florida	$49,024	$24
   2	Texas	$47,704	$23
   3	Maryland	$47,347	$23
   4	New York	$46,746	$22
   5	Washington	$43,746	$21
   6	California	$43,016	$21
   7	Missouri	$42,952	$21
   8	Massachusetts	$42,602	$20
   9	New Jersey	$41,636	$20
   10	North Carolina	$40,201	$19
   11	Michigan	$40,147	$19
   12	Kansas	$40,081	$19
   13	Georgia	$34,906	$17
   14	Colorado	$34,905	$17
   15	Pennsylvania	$33,307	$16
   16	Arizona	$31,787	$15

   Average senior loan officer salary by company

   Company

   Rank	Company	Average salary	Hourly rate	Job openings
   1	Salal Credit Union	$40,085	$19.27
   2	Optimus	$39,516	$19.00
   3	Dream House Mortgage Corp	$38,792	$18.65
   4	First State Bank of St. Charles	$38,714	$18.61	14
   5	Nonprofit Finance Fund	$38,655	$18.58
   6	DreamSpring	$38,579	$18.55
   7	Trinity Oaks	$38,579	$18.55
   8	Raymond James Financial	$38,226	$18.38	12
   9	Kennedy	$37,677	$18.11	1
   10	Axos Bank	$37,657	$18.10	4
   11	RE/MAX Realty One	$37,186	$17.88
   12	New American Funding	$37,030	$17.80	89
   13	Security	$36,935	$17.76	100
   14	TD Bank	$36,682	$17.64	17
   15	Homestar Financial	$36,394	$17.50
   16	Synovus	$34,464	$16.57	2
   17	Westamerica Ban	$34,308	$16.49	77
   18	Live Oak Bank	$32,995	$15.86
   19	RE/MAX	$32,612	$15.68

4. Writing a senior loan officer job description

   A good senior loan officer 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 senior loan officer job description:

   Senior loan officer job description example

   As a senior level position under limited supervision, you will be responsible for assisting management in negotiating, underwriting and coordinating the closing of major complex consumer and residential loans, business development, reporting, training and policy and procedure review. As a lead role you will participate in attracting new applicants and retain existing loans through recapture programs.
   
   To be successful in this position, an individual must be able to perform each essential duty satisfactorily:
   
   Interview applicants, collect financial information, evaluate credit worthiness and eligibility for obtaining financing, deliver disclosures, order services and consult applicants on programs and services
   
   Prepare and submit accurate complete applications, monitor and report on lending pipeline activities, exercise judgement and tact in communicating with applicants on loan decisions
   
   Maintain a working knowledge of lending regulations and assist in the development of credit union products, services, policies, procedures, promotions, review appraisal reports, credit reports, and all general and supporting documents required for a loan
   
   Follows established safety policies and procedures as outlined in the OEFCU Illness & Injury Prevention Program
   High School Diploma/GED required; Associates degree in a business- related field preferred Three years of work experience in a credit decisioning capacity preferred Must be able to travel at least 75-90% of time, or as needed Experience with Consumer and Mortgage Loan Origination system preferred Excellent verbal and written communication skills required Proficiency in Microsoft Word, Excel and Outlook required Bilingual in English and Spanish preferred A list of some of the benefits we offer: We emphasize a work/life balance Premium pay for bilingual skills (English/Spanish) Medical, dental and vision benefits that cover the employee, spouse and dependents Retiree medical benefits A defined benefit Pension Plan with employer contributions of $5.57/hour Life Insurance/AD&D 10 ½ Paid Holidays per year 17 days of Paid Time Off (PTO) to start A 401(k) plan Employee loan discounts Casual dress code Are you ready to join our team? If you think this job is the right fit for you, fill out our online application. Our application is pretty simple - you upload your resume and answer a few job-related questions. Once you have completed the application, your information will be sent to our Human Resources team instantly.

   Copy this example

   

5. Post your job

   There are various strategies that you can use to find the right senior loan officer for your business:

   • Consider promoting from within or recruiting from your existing workforce.
   • Ask for referrals from friends, family members, and current employees.
   • Attend job fairs at local colleges to find candidates who meet your education requirements.
   • Use social media platforms like LinkedIn, Facebook, and Twitter to reach potential job candidates.

   Post your job online:

   • Post your senior loan officer job on Zippia to find and recruit senior loan officer candidates who meet your exact specifications.
   • Use field-specific websites.
   • Post a job on free websites.

6. Interview candidates

   Recruiting senior loan officers 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.

   Remember to include a few questions that allow candidates to expand on their strengths in their own words. Asking about their unique skills might reveal things you'd miss otherwise. At this point, good candidates can move on to 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 senior loan officer

   Once you've decided on a perfect senior loan officer 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.

   You should also follow up with applicants who don't get the job with an email letting them know that you've filled the position.

   Once that's done, you can draft an onboarding schedule for the new senior loan officer. Human Resources should complete Employee Action Forms and ensure that onboarding paperwork is completed, including I-9s, benefits enrollment, federal and state tax forms, etc. They should also ensure that new employee files are created for internal recordkeeping.

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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