Loan Officers
Career Cluster
Human Services
Focuses on families and human needs. This field has careers in counseling, mental health, and community services. It can include personal care and consumer services.
Learn more about this clusterAt a glance
Expected pay range
Expected pay range
This represents the median earnings for this career in the selected county or state. In the range shown, 25% of workers earned less than the bottom salary and 25% earned more than the top salary. Data is provided by the Texas Workforce Commission.
Monthly cost of living
These numbers give you an idea of how much you can spend each month on common expenses with this salary. Percentages are the average a person with no children spends according to data collected by the Bureau of Labor Statistics. (external link opens new tab) These numbers are a starting point and will differ person to person.
Your actual expenses may differ from those listed. You’ll need to account for the amount taken out in taxes each month. Learn more about income tax expenses. (external link opens new tab) Your student loan payments may also differ. To calculate your student loan payments, use the federal student loan repayment estimator. (external link opens new tab)
About loan officers
What they do
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.
Other titles
Commercial Banker, Commercial Loan Officer, Corporate Banking Officer, Financial Aid Advisor, Financial Aid Counselor, Financial Aid Officer, Financial Counselor, Loan Counselor, Loan Officer, Mortgage Loan Officer
Skills they need
- Active Listening - Giving full attention to what other people are saying, taking time to understand the points being made, asking questions as appropriate, and not interrupting at inappropriate times.
- Speaking - Talking to others to convey information effectively.
- Judgment and Decision Making - Considering the relative costs and benefits of potential actions to choose the most appropriate one.
- Reading Comprehension - Understanding written sentences and paragraphs in work-related documents.
- Critical Thinking - Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions, or approaches to problems.
- Writing - Communicating effectively in writing as appropriate for the needs of the audience.
- Complex Problem Solving - Identifying complex problems and reviewing related information to develop and evaluate options and implement solutions.
- Mathematics - Using mathematics to solve problems.
- Social Perceptiveness - Being aware of others' reactions and understanding why they react as they do.
- Active Learning - Understanding the implications of new information for both current and future problem-solving and decision-making.
- Time Management - Managing one's own time and the time of others.
- Service Orientation - Actively looking for ways to help people.
Licenses and Certifications they may hold
How to decide which one is right? That depends on an individual’s career path, specialty, and resources.
Title Escrow Officer
Texas Department of Insurance~Title Agents and Escrow Officers
- License Type
- Stand-alone license
- Status
- Active
- Exam
- No exam required
- Education
- No educational requirements
- Continuing education
- Continuing education required to maintain license
- Criminal record
- Specific type of conviction prohibited
Certifications
Certifications may be available for this career and can help build knowledge and skills in specific job roles. Explore available certifications (external link opens new tab)
Similar careers
View careers in the same field as loan officers.
New Accounts Clerks
In demand
In demand careers have high-growth, high-demand, and emerging jobs critical to Texas. They are based on economic indicators like in demand industries, labor market trends, and economic conditions, provided by the Texas Workforce Commission.
Interview persons desiring to open accounts in financial institutions. Explain account services available to prospective customers and assist them in preparing applications.
Financial Managers
Better pay
Median salary for this career is higher than the median salary of all careers in the county selected. Salary data is provided by the Texas Workforce Commission.
Plan, direct, or coordinate accounting, investing, banking, insurance, securities, and other financial activities of a branch, office, or department of an establishment.
Credit Analysts
Better pay
Median salary for this career is higher than the median salary of all careers in the county selected. Salary data is provided by the Texas Workforce Commission.
Analyze credit data and financial statements of individuals or firms to determine the degree of risk involved in extending credit or lending money. Prepare reports with credit information for use in decisionmaking.
Loan Interviewers and Clerks
Better pay
Median salary for this career is higher than the median salary of all careers in the county selected. Salary data is provided by the Texas Workforce Commission.
In demand
In demand careers have high-growth, high-demand, and emerging jobs critical to Texas. They are based on economic indicators like in demand industries, labor market trends, and economic conditions, provided by the Texas Workforce Commission.
Interview loan applicants to elicit information; investigate applicants' backgrounds and verify references; prepare loan request papers; and forward findings, reports, and documents to appraisal department. Review loan papers to ensure completeness, and complete transactions between loan establishment, borrowers, and sellers upon approval of loan.