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Loan Officer  What They Do

Just the Facts


Evaluates, authorizes or recommends approval of commercial, real estate, or credit loans. Advises borrowers on financial status and methods of payment. Includes mortgage loan officers and agents, collection analysts, loan servicing officers, and loan underwriters.

This career is part of the Finance cluster Banking Services pathway.


A person in this career:

  • Approves loans within specified limits and refers applications outside those limits to management for approval.
  • Meets with applicants to obtain information for loan applications and to answer questions about the process.
  • Analyzes applicants' financial status, credit and property evaluations to determine feasibility of granting loans.
  • Explains to customers the different types of loans and credit options available, as well as the terms of those services.
  • Obtains and compiles copies of loan applicants' credit histories, corporate financial statements and other financial information.
  • Reviews and updates credit and loan files.
  • Reviews loan agreements to ensure they are complete and accurate.
  • Computes payment schedules.
  • Remains aware of new types of loans and other financial services and products in order to better meet customers' needs.
  • Submits applications to credit analysts for verification and recommendation.

Working Conditions and Physical Demands

People who do this job report that:

  • You would sit most of the time. There's some walking and standing. You may have to lift and carry things like books, papers or tools weighing 10 lbs. or less.
  • Work in this occupation requires being inside most of the time
  • Work in this occupation involves sitting more than one-third of the time

Working in this career involves (physical activities):

  • Seeing clearly up close
  • Speaking clearly enough to be able to be understood by others
  • Identifying and understanding the speech of another person

Work Hours and Travel

  • Overtime work

Specialty and Similar Careers

Careers that are more detailed or close to this career:

  • Agricultural Loan Officer -- Provides seed capital for new and existing agricultural businesses to encourage growth, sustainability and research.
  • Commercial Mortgage Broker -- Finds mortgages that will work for their client's real estate projects from their established relationships with lenders who are willing to finance high value real estate for commercial purposes.
  • Mortgage Underwriter -- Responsible for reviewing all documentation that comes in for home or building loans and decides whether an individual should be granted a loan by the bank.
  • Portfolio Manager -- Ultimately responsible for the performance and the day to day operation of a fund or asset management vehicle.
  • Branch Account Manager --
  • Loan Administrator --