What does a Loan Officer Assistant do?

Loan officers review, authorize, and recommend personal and commercial loans for approval. Loan officers meet with applicants in order to determine their creditworthiness. They usually work at mortgage companies, commercial banks, credit unions, and other financial institutions.

Most loan officers have a Bachelor's degree in business administration, finance, economics, or a related field, and are trained on the job. Residential mortgage loan officers must be licensed. Loan officers generally need strong sales and interpersonal skills.

  • Sell loan products and meet loan production targets
  • Perform business development tasks, including managing the pipeline by generating leads and referral business, and maintaining relationships with existing and past clients
  • Meet and communicate with applicants to explain the risks and benefits, as well as the terms of loan products and government regulations
  • Obtain relevant information and evaluate applicants' financial status, including credit history, debt-to-income ratio, and appraisal reports, to determine recommendation for loan approval
  • Ensure all necessary information and documentation is submitted to the loan underwriting department, and is recorded properly in electronic file format
  • Represent the employer at community events and host seminars
  • Maintain current knowledge of all applicable lending regulations, the economy, market rates, vendors, and competitors
  • Consistently deliver first-class customer service
  • Associate's degree or Bachelor's degree in business administration, finance, economics, or a related field
  • 2+ years of experience in the mortgage lending, banking, or real estate industry
  • Strong Microsoft Office skills and ability to use relevant industry-specific computer programs, as well as calculators
  • Exceptional interpersonal skills and strong customer service orientation
  • Excellent written and verbal communication skills
  • NMLS license required
  • Ability to work both in a team and independently
EducationBachelor's Degree
Work/Life Balance
3.5 ★
Salary Range--
Career Opportunity
3.6 ★
Avg. Experience2-4 years

Loan Officer Assistant Salaries

Average Base Pay

$40,450 /yr
Same as national average
Not including cash compensation
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$30K
Median: $40K
$55K
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Glassdoor Estimated Salary

Loan Officer Assistant Career Path

Learn how to become a Loan Officer Assistant, what skills and education you need to succeed, and what level of pay to expect at each step on your career path.

L2
Assistant Loan Officer
$40,450/yr
L3
L4
See Career Path

Loan Officer Assistant Insights

Read what Loan Officer Assistant professionals have to say about their job experiences and view top companies for this career.
ChaseChase
Home Lending Advisor
Jan 6, 2020

“workers were amazing and helpful and I was lucky to have one of the better managers on the floor.”

fiber.mortgagefiber.mortgage
Mortgage Loan Officer
Aug 24, 2020

“But the best part is helping people and all of the fun we have in the process.”

Innerworkings
Loan Officer
Nov 18, 2021

“The culture and outreach programs make this one of the best companies I can imagine working for.”

Network CapitalNetwork Capital
Mortgage Loan Officer
Oct 21, 2021

“I was great with the trainings provided to us that helped me get licensed in a few states.”

ALCOVA MortgageALCOVA Mortgage
Mortgage Loan Officer
Sep 4, 2021

“My branch manager is the best leader I’ve had in 20+ years of working in lending.”

PIF Lending
Team Loan Officer
Jun 5, 2020

“Support is provided to grow your business in sales or expand your career into operations if that is your goal.”

Homespire MortgageHomespire Mortgage
Loan Officer Assistant
Oct 27, 2020

“My work environment at my location isn’t the best I would say because of the people I work with.”

PrimeLendingPrimeLending
Loan Officer
Dec 19, 2019

“I guess you could say that the snacks and candy are nice... I'd truly prefer better pay over that though.”

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Loan Officer Assistant Interviews

Related Careers

Underwriting Assistant
$46,711
13% skills overlap
Loan Processor
$48,076
25% skills overlap
Underwriter
$65,091
13% skills overlap
Credit Analyst
$56,409
13% skills overlap

Loan Officer Assistant Jobs

Frequently asked questions about the roles and responsibilities of an assistant loan officer

When working as an assistant loan officer, the most common skills you will need to perform your job and for career success are Meet Deadlines, Excellent Customer Service, Outlook, VERBAL Communication, and Powerpoint.

The most similar professions to assistant loan officer are:
  • Underwriting Assistant
  • Loan Processor
  • Underwriter
  • Credit Analyst

The most common qualifications to become an assistant loan officer include a minimum of a Bachelor's Degree and an average of 0 - 1 years of experience not including years spent in education and/or training.