Loan Officers
Evaluate, authorize, or recommend approval of commercial, real estate, or credit loans. Advise borrowers on financial status and payment methods. Includes mortgage loan officers and agents, collection analysts, loan servicing officers, loan underwriters, and payday loan officers.
A wage reference for United States.
Published wage percentiles describe a distribution within the source occupation group. They provide context for a career decision; employer packages and job offers have their own terms.
This wage group may include multiple detailed occupations. The figures are for the source group, which may be broader than Loan Officers. They are not an exact-title, employer, experience or seniority match.
May 2025 · USD · United States. Annual and hourly figures are shown only when the source publishes them; neither is calculated from the other.
U.S. Bureau of Labor Statistics occupational wage data, distributed through the O*NET® OnLine service.
Annual wage thresholds
USD per year
Hourly wage thresholds
USD per hour
| Percentile | Annual wage (USD/year) | Hourly wage (USD/hour) |
|---|---|---|
| 10th | $39,430 | $18.96 |
| 25th | $52,730 | $25.35 |
| 50th · Median | $76,690 | $36.87 |
| 75th | $104,080 | $50.04 |
| 90th | $153,180 | $73.65 |
“≥” means at least the published amount; “≤” means at most that amount. These are bounds, not exact values. “Not published” means the source did not provide that figure. Occupational wages follow the source definition and do not establish an employer’s base salary, equity or total compensation.
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Compare an entered wage with the published thresholds for United States. Your entry stays on this page.
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What this career involves.
Occupation definitions describe common work. Responsibilities and requirements vary by employer and specific job.
Selected title examples
Expand more title examples (48)
Typical tasks
- Meet with applicants to obtain information for loan applications and to answer questions about the process.
- Analyze applicants' financial status, credit, and property evaluations to determine feasibility of granting loans.
- Approve loans within specified limits, and refer loan applications outside those limits to management for approval.
- Explain to customers the different types of loans and credit options that are available, as well as the terms of those services.
- Submit applications to credit analysts for verification and recommendation.
- Review loan agreements to ensure that they are complete and accurate according to policy.
Expand more tasks (24)
- Review and update credit and loan files.
- Obtain and compile copies of loan applicants' credit histories, corporate financial statements, and other financial information.
- Work with clients to identify their financial goals and to find ways of reaching those goals.
- Handle customer complaints and take appropriate action to resolve them.
- Stay abreast of new types of loans and other financial services and products to better meet customers' needs.
- Market bank products to individuals and firms, promoting bank services that may meet customers' needs.
- Analyze potential loan markets and develop referral networks to locate prospects for loans.
- Compute payment schedules.
- Supervise loan personnel.
- Prepare reports to send to customers whose accounts are delinquent, and forward irreconcilable accounts for collector action.
- Set credit policies, credit lines, procedures and standards in conjunction with senior managers.
- Assist in selection of financial award candidates using electronic databases to certify loan eligibility.
- Authorize or sign mail collection letters.
- Calculate amount of debt and funds available to plan methods of payoff and to estimate time for debt liquidation.
- Confer with underwriters to resolve mortgage application problems.
- Contact applicants or creditors to resolve questions about applications or to assist with completion of paperwork.
- Contact borrowers with delinquent accounts to obtain payment in full or to negotiate repayment plans.
- Counsel clients on personal and family financial problems, such as excessive spending or borrowing of funds.
- Establish payment priorities according to credit terms and interest rates to reduce clients' overall costs.
- Inform individuals and groups about the financial assistance available to college or university students.
- Maintain and review account records, updating and recategorizing them according to status changes.
- Match individuals' needs and eligibility with available financial aid programs to provide informed recommendations.
- Review accounts to determine write-offs for collection agencies.
- Review billing for accuracy.
Skills used in this work
- Active Listening
- Giving full attention to what other people are saying, taking time to understand the points being made, asking questions as appropriate, and not interrupting at inappropriate times.
- Speaking
- Talking to others to convey information effectively.
- Judgment and Decision Making
- Considering the relative costs and benefits of potential actions to choose the most appropriate one.
- Reading Comprehension
- Understanding written sentences and paragraphs in work-related documents.
- Critical Thinking
- Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions, or approaches to problems.
- Writing
- Communicating effectively in writing as appropriate for the needs of the audience.
Expand more skills (29)
- Complex Problem Solving
- Identifying complex problems and reviewing related information to develop and evaluate options and implement solutions.
- Mathematics
- Using mathematics to solve problems.
- Social Perceptiveness
- Being aware of others' reactions and understanding why they react as they do.
- Active Learning
- Understanding the implications of new information for both current and future problem-solving and decision-making.
- Time Management
- Managing one's own time and the time of others.
- Service Orientation
- Actively looking for ways to help people.
- Coordination
- Adjusting actions in relation to others' actions.
- Instructing
- Teaching others how to do something.
- Monitoring
- Monitoring/Assessing performance of yourself, other individuals, or organizations to make improvements or take corrective action.
- Negotiation
- Bringing others together and trying to reconcile differences.
- Persuasion
- Persuading others to change their minds or behavior.
- Learning Strategies
- Selecting and using training/instructional methods and procedures appropriate for the situation when learning or teaching new things.
- Management of Personnel Resources
- Motivating, developing, and directing people as they work, identifying the best people for the job.
- Systems Analysis
- Determining how a system should work and how changes in conditions, operations, and the environment will affect outcomes.
- Systems Evaluation
- Identifying measures or indicators of system performance and the actions needed to improve or correct performance, relative to the goals of the system.
- Management of Financial Resources
- Determining how money will be spent to get the work done, and accounting for these expenditures.
- Management of Material Resources
- Obtaining and seeing to the appropriate use of equipment, facilities, and materials needed to do certain work.
- Operations Monitoring
- Watching gauges, dials, or other indicators to make sure a machine is working properly.
- Technology Design
- Generating or adapting equipment and technology to serve user needs.
- Operations Analysis
- Analyzing needs and product requirements to create a design.
- Programming
- Writing computer programs for various purposes.
- Quality Control Analysis
- Conducting tests and inspections of products, services, or processes to evaluate quality or performance.
- Operation and Control
- Controlling operations of equipment or systems.
- Equipment Maintenance
- Performing routine maintenance on equipment and determining when and what kind of maintenance is needed.
- Equipment Selection
- Determining the kind of tools and equipment needed to do a job.
- Installation
- Installing equipment, machines, wiring, or programs to meet specifications.
- Repairing
- Repairing machines or systems using the needed tools.
- Science
- Using scientific rules and methods to solve problems.
- Troubleshooting
- Determining causes of operating errors and deciding what to do about it.
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