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Loan Officer Job Description: Top Duties and Qualifications

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Indeed’s Employer Resource Library helps businesses grow and manage their workforce. With over 15,000 articles in 6 languages, we offer tactical advice, how-tos and best practices to help businesses hire and retain great employees.

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8 min read

A 446692237banking4.51loan officer3.68mortgage loan officer3.59mortgage2.55real estate1.3661772160430825000.00186246.83511000.00YEARLY1220444562025-10-012025-10-312025-09-012025-09-302025-11-05Loan Officer, or Mortgage Loan Officer, is responsible for helping customers research loans and navigate the application, approval and closing process. Their duties include recommending commercial and personal loan options to clients and explaining their terms, determining risks for loaning to clients based on their credit and processing paperwork.

Loan Officer duties and responsibilities

The 446692237banking4.51loan officer3.68mortgage loan officer3.59mortgage2.55real estate1.3661772160430825000.00186246.83511000.00YEARLY1220444562025-10-012025-10-312025-09-012025-09-302025-11-05Loan Officer is expected to collect and prepare all materials needed to secure a loan. They’re also responsible for reviewing applications. Other than these main duties, some essential responsibilities include the following: 

  • Oversees the staff that does the paperwork for mortgage applications
  • Verifies the information provided on applications to obtain more information if missing data or mistakes are present
  • Communicates with customers to help them choose the best mortgage loan they can afford
  • Collects data from customers, such as their assets, salaries, debts and employment status
  • Reviews file documentation for missing or erroneous information
  • Verifies information about applicant history with credit bureaus and other agencies so the lender can approve or deny the loan
  • Remains aware of loan application deadlines and informs customers about them

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Loan Officer Job Description Examples

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Indeed’s Employer Resource Library helps businesses grow and manage their workforce. With over 15,000 articles in 6 languages, we offer tactical advice, how-tos and best practices to help businesses hire and retain great employees.

Read our editorial guidelines
Job Description Best Practices
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What does a Loan Officer do?

Loan Officers work for financial institutions, usually banks, to sell financial services and loans to customers based on their needs and qualifications. Loan Officers conduct meetings with people who want a loan to buy a home, purchase a car or start a business. Loan Officers commonly work with homebuyers, but they can take on clients with different goals. They study lending regulations and work with clients to gather the necessary financial documentation to move forward with an application. Loan Officers recommend clients for approval to begin the underwriting process or explain their reasons for denying a request.

Loan Officer skills and qualifications

Loan Officers should have a variety of practical skills for their position. The main skills and qualifications of a Loan Officer are:

  • Experience with mortgage loan software programs
  • Communication skills
  • Supervision skills to direct junior staff
  • Sales skills to sell loan-processing services to customers
  • Excellent organizational and time management skills
  • Knowledge of federal, state and local levels of loan processing laws and regulations and ability to communicate these laws in a non-technical and conversational manner to others

Loan Officer salary expectations

A Loan Officer makes an average of $91,582 per year. Salary may depend on the applicant’s level of experience, education and geographical location.

Loan Officer salary expectations

2025-10-0125000.00186246.83511000.00YEARLY
  • Common salary: 186246.83 YEARLY
  • Typical salaries range from 25000.00 - 511000.00 YEARLY
  • Find more information on Indeed Salaries

*Indeed data – 2025-10-01

446692237banking4.51loan officer3.68mortgage loan officer3.59mortgage2.55real estate1.3661772160430825000.00186246.83511000.00YEARLY1220444562025-10-012025-10-312025-09-012025-09-302025-11-05Loan Officer education and training requirements

The minimum educational requirement for Loan Officers is a high school diploma or GED. Computer courses focused on loan software are also helpful. Employers prefer to hire Loan Officer candidates who have at least an associate degree in banking and finance. A bachelor’s degree in finance or economics may be more beneficial.

Licensing is not always required. Mortgage Loan Officers, however, require a Mortgage Loan Originator (MLO) license. An MLO license requires credit and background checks, a minimum of 20 hours of coursework and a passing score on the MLO exam.

Loan Officer experience requirements

Loan Officers need several years of relevant work experience, particularly in customer service and the finance industry, such as a Teller position at a bank or accounting work. Experience in the fields of finance, accounting and banking are useful tools for a Loan Officer’s career.

Job description samples for similar positions

If this description for a 446692237banking4.51loan officer3.68mortgage loan officer3.59mortgage2.55real estate1.3661772160430825000.00186246.83511000.00YEARLY1220444562025-10-012025-10-312025-09-012025-09-302025-11-05Loan Officer isn’t what you were looking for, consider this similar position:

Job Description Best Practices
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Frequently asked questions about Loan Officers

Three individuals are sitting at a table with a laptop, a disposable coffee cup, notebooks, and a phone visible. Two are facing each other, while the third’s back is to the camera. The setting appears to be a bright room with large windows.

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Job Description Examples

Need help writing a job description for a specific role? Use these job description examples to create your next great job posting. Or if you’re ready to hire, post your job on Indeed.

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