Loan Officers Career, Salary and Skills
Loan Officers have a BLS-reported national median annual wage of $76,690 based on the 2025 OEWS dataset, with reported national employment of 274,330. Wage data is published for 437 locations.
Occupation description
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.
O*NET code
13-2072.00
Job zone
4
Typical education
Bachelor's Degree
Experience
Over 4 years, up to and including 6 years
National salary and employment
Median annual
$76,690
Hourly median
$36.87
Employment
274,330
Data year
2025
National salary distribution
Top skills
| Skill | Importance | Level |
|---|---|---|
| Active Listening | 4.00 | 4.00 |
| Speaking | 4.00 | 4.00 |
| Reading Comprehension | 3.88 | 4.00 |
| Judgment and Decision Making | 3.88 | 3.88 |
| Critical Thinking | 3.75 | 4.00 |
| Writing | 3.38 | 3.88 |
| Mathematics | 3.25 | 3.12 |
| Social Perceptiveness | 3.25 | 3.00 |
| Complex Problem Solving | 3.25 | 3.12 |
| Active Learning | 3.12 | 3.12 |
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.
- Review and update credit and loan files.
- Review billing for accuracy.
Technology
- 1003 Uniform Residential Loan Application
- Amortization loan software
- Bankers Systems Rembrandt Lending System
- Bottom Line LoanMaster Loan Servicing
- California Infinite LPS
- Calyx Point
- CGI-AMS BureauLink Enterprise
- CGI-AMS CACS Enterprise
- CGI-AMS Strata
- Click1003 Online Mortgage Application
- Common business oriented language COBOL
- Credit and risk analysis software
- Credit fraud detection software
- Credit underwriting software
Loan Officers salary by location
Areas with the highest reported employment for this occupation.
- Loan Officers Salary in CAMedian $81,770 · Employment 25,790
- Loan Officers Salary in TXMedian $66,370 · Employment 21,200
- Loan Officers Salary in FLMedian $71,090 · Employment 18,830
- Loan Officers Salary in MIMedian $74,470 · Employment 11,340
- Loan Officers Salary in ILMedian $79,150 · Employment 10,890
- Loan Officers Salary in NYMedian $95,710 · Employment 10,840
- Loan Officers Salary in NCMedian $75,920 · Employment 10,700
- Loan Officers Salary in New York, NYMedian $101,570 · Employment 10,350
- Loan Officers Salary in AZMedian $62,160 · Employment 10,020
- Loan Officers Salary in OHMedian $76,370 · Employment 9,880
- Loan Officers Salary in Los Angeles, CAMedian $80,360 · Employment 9,690
- Loan Officers Salary in GAMedian $68,490 · Employment 9,540
Related careers
- Tax PreparersNational median $54,920
- Insurance Claims and Policy Processing ClerksNational median $49,230
- Accountants and AuditorsNational median $83,680
- Bookkeeping, Accounting, and Auditing ClerksNational median $50,670
- Real Estate BrokersNational median $73,220
- Financial ExaminersNational median $94,160
- Insurance Sales AgentsNational median $62,280
- TellersNational median $43,030
Career and skills data: O*NET 31.0 (onetcenter.org). Salary and employment data: U.S. Bureau of Labor Statistics OEWS, 2025 (bls.gov/oes). Figures are published survey estimates, not real-time market data.