What does a Lead Loan Officer 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
Work/Life Balance
3.5 ★
Salary Range--
Career Opportunity
3.6 ★
Avg. Experience2-4 years

Lead Loan Officer Salaries

Average Base Pay

$41,815 /yr
Same as national average
Not including cash compensation
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Not enough salaries reported to show distribution
Median: $42K
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Glassdoor Estimated Salary

Lead Loan Officer Career Path

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

Lead Loan Officer
Principal Loan Officer
No Salary Reports
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Lead Loan Officer Insights

Read what Lead Loan Officer professionals have to say about their job experiences and view top companies for this career.
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.”

Freedom Financial NetworkFreedom Financial Network
Loan Officer
Jul 19, 2019

“I have a great TL and Sales Manager that help me be the best I can be!”

Loan Officer
Jul 2, 2019

“Not easy to transition from one department to another if you want to change career.”

Lending Coordinator
Sep 10, 2021

“10 days PTO sounds great but then you realize that you have no sick days or any personal days.”

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.”

Loan Advocate
Apr 6, 2021

“Our bonuses are based on the unfair metrics that we had complained about that they have sense updated.”

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.”

Sharonview FCUSharonview FCU
Mortgage Loan Officer
Apr 23, 2019

“I have been with Sharonview for five years and it is one of the best companies I have ever worked for.”

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Lead Loan Officer Interviews

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Lead Loan Officer Jobs