Mortgage and Loan Education

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How To Become A Loan Officer

Written by Dana Hinders
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Loan officer careers usually require a bachelor's degree in a related subject such as finance or economics. Students interested in a career as a loan officer may find elective coursework in mathematics, marketing, and business law to be helpful preparation for future employment opportunities. Employers also value students with strong technical skills, since loan officers must use a variety of software in their daily work.

It is possible to have a successful career as a loan officer without a college degree, but you will most likely need to have several years of work experience in a related banking occupation. A job as a bank teller or customer service representative can lead to a career as a loan officer. Many banks will even pay for their current employees to attend professional development courses to gain the knowledge needed to become a loan officer.

Employment Opportunities for Loan Officers

Loan officers can be employed by commercial banks, savings institutions, personal credit firms, credit unions, and mortgage brokerages. The majority of loan officer positions are located in larger urban areas and the outlying suburbs. Since loans are a significant source of income for most financial institutions, employment opportunities for loan officers tend to remain fairly stable even during times of economic decline.

Banker's associations are an excellent resource for finding listings of specific loan officer positions. If you are interested in a career as a loan officer, you may want to contact specific employers to determine their preferred loan officer qualifications. Trade publications and professional organizations are an additional resource for finding loan officer employment opportunities.


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