Those pursuing careers as Assistant Loan Officers in the United States may have to make do with less; average incomes for people in this area hover around only $37K per year. Total cash payments to Assistant Loan Officers include potential for bonuses, profit sharing and commission. In exceptional cases, the first two can peak near $19K each, and the last component can even exceed $21K (albeit rarely); this causes total cash payments to vary between $26K and $55K. Compensation for this group is mainly affected by location, but years of experience and the specific company are influential factors as well. Among survey respondents, women are more common than men; 82 percent of Assistant Loan Officers are female. While some workers in this profession — just under one in four — do not have any health coverage, a fair number do receive medical benefits and the greater part have dental insurance. Work is enjoyable for Assistant Loan Officers, who typically claim high levels of job satisfaction. Respondents to the PayScale salary survey provided the data for this report.
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$28,376 - $49,542
(Median)
$28K
$37K
$50K
MEDIAN: $37,035
10%
50%
90%

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$10.94 - $20.21
(Median)
$11
$15
$20
MEDIAN: $15.00
10%
50%
90%

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National Salary Data (?
XAll compensation data shown are gross 10th to 90th percentile ranges. Take the PayScale Survey to find out how location influences pay for this job.
)
$0$19K$38K$57K
Salary
$28,376 - $49,542  
   
Bonus
$995 - $19,392  
Profit Sharing
$-0.50 - $20,361  
Commission
$1,957 - $21,082  
Total Pay (?
XTotal Pay combines base annual salary or hourly wage, bonuses, profit sharing, tips, commissions, overtime pay and other forms of cash earnings, as applicable for this job. It does not include equity (stock) compensation, cash value of retirement benefits, or the value of other non-cash benefits (e.g. healthcare).
)
$25,920 - $54,930  
Country: United States | Currency: USD | Updated: 28 Oct 2016 | Individuals Reporting: 235
National Hourly Rate Data (?
XAll compensation data shown are gross 10th to 90th percentile ranges. Take the PayScale Survey to find out how location influences pay for this job.
)
$0$10$20$30
Hourly Rate
$10.94 - $20.21  
   
Overtime
$12.58 - $29.73  
National Annualized Data (?
XAll compensation data shown are gross 10th to 90th percentile ranges. Take the PayScale Survey to find out how location influences pay for this job.
)
$0$20K$40K$60K
Bonus
$995 - $19,392  
   
Commission
$1,957 - $21,082  
Profit Sharing
$-0.50 - $20,361  
Total Pay (?
XTotal Pay combines base annual salary or hourly wage, bonuses, profit sharing, tips, commissions, overtime pay and other forms of cash earnings, as applicable for this job. It does not include equity (stock) compensation, cash value of retirement benefits, or the value of other non-cash benefits (e.g. healthcare).
)
$25,920 - $54,930  
Country: United States | Currency: USD | Updated: 28 Oct 2016 | Individuals Reporting: 169
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Job Description for Assistant Loan Officer

Assistant loan officers are in charge of reviewing loan applications and completing administrative tasks for their organization. They are responsible for checking important loan details and requirements before submitting all documentation to the lender. They also prepare cost estimates for borrowers, provide all necessary information to relevant parties, answer client inquiries, and redirect questions to the appropriate departments.

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Assistant Loan Officer Tasks

  • Review, identify, and resolve problems with loan applications.
  • Facilitate the application process by initiating pre-qualification inquiry calls and reviewing resulting data with the loan officer.
  • Approve, deny, and review loan recommendations.
  • Assist in managing a loan portfolio with regard to credit quality and administration, and portfolio performance.
  • Coordinate and manage marketing to current clients and potential customers.

Common Career Paths for Assistant Loan Officer


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Assistant Loan Officers who transition into a Commercial Loan Officer role may receive large pay increases as the latter position pays an average $66K per year.

Assistant Loan Officer Job Listings

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Popular Employer Salaries for Assistant Loan Officer


The biggest paychecks can be found at Prospect Mortgage — the median salary there is $44K.

Popular Skills for Assistant Loan Officer


Survey results suggest that Assistant Loan Officers use a fairly large toolkit of professional skills. Most notably, skills in Mortgage Loans, Customer Relationship Management, Loan Processing, and Customer Relations are correlated to pay that is above average, with boosts in pay of 5 percent. Skills that pay less than market rate include Loan Documents. The majority of those who know Customer Relations also know Mortgage Loans.

Pay by Experience Level for Assistant Loan Officer

Median of all compensation (including tips, bonus, and overtime) by years of experience.


Those in the early stages of their career can expect to make around $35K; however, individuals with five to 10 years of experience bring in $44K on average — a distinctly larger sum. People with 10 to 20 years of experience make an average of about $45K in this role. Individuals who have achieved more than 20 years of experience don't seem to earn any more than people who have 10 to 20 years under their belts.

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Experience Affects Assistant Loan Officer Salaries




National Average
$39,000


Skills That Affect Assistant Loan Officer Salaries




Customer Relations
0%

National Average
$39,000

Customer Service
up arrow 1%

Loan Documents
up arrow 3%

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 35 votes.

Gender

Female
82 %
Male
18 %

Years of Experience

Less than 1 year
13%
1-4 years
46%
5-9 years
14%
10-19 years
19%
20 years or more
9%

Common Health Benefits

medical benefits
Medical: 72%
dental benefits
Dental: 67%
medical benefits
Vision: 56%
dental benefits
None: 23%
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