Profession
Loan Officer
Description
A loan officer is a Professional with wide knowledge of the various types of loans that a financial institution can provide, as well as a complete working knowledge of the requirements or conditions that are necessary for applicants to successfully qualify for each type of loan.Loan officers can specialize in consumer, mortgage or commercial loans and often work for commercial banks, mortgage companies or credit unions. They act as the middle man between the Financial institution and the Applicant who is seeking to take the loan. So the Loan Officer will try to find a loan arrangement that is in the best interests of both parties. They are like Marketers/Agents for the Financial Institutions like Banks and can assists customers with loan applications for cars, college tuition, homes, and businesses
Job Prospect
High
Work Environment
Loan Officers work most times for Banks. Some loan officers travel to meet with clients in their businesses or homes. Hence they often work for longer hours in a day than the regular 8 working hours per day
General and Personal Skills Required
Average Salary
Cost of Training
Recommended Level of Education
Bachelor
