Assistant Loan Officer Salary

Assistant Loan Officers in the United States are not likely to strike it rich; they only make around $37K per year on average. While career length and the individual firm impact pay for this group, location is the most influential factor. There are far more female Assistant Loan Officers who answered the questionnaire than men, making up 81 percent. The majority of workers are highly satisfied with their job. Health benefits are not enjoyed by everyone in this line of work, and around one in four lack any coverage at all. Medical benefits are reported by a fair number and dental coverage is claimed by a majority. The figures in this rundown are based on the results of PayScale's salary questionnaire.
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$27,456 - $48,942
$27K
$37K
$49K
MEDIAN: $37,127
10%
50%
90%

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$10.62 - $20.26
$11
$15
$20
MEDIAN: $15.13
10%
50%
90%

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$0$52K
Salary $27,456 - $48,942
Bonus $582 - $14,846
Profit Sharing $3,000
Commission $1,850 - $20,580
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).
)
$25,605 - $52,713
  • Country: United States
  • Currency: USD
  • Updated: 25 Jul 2017
  • Individuals Reporting: 223
Hourly Data $0$28
Hourly Rate $10.62 - $20.26
Overtime $12.92 - $28.60
Annual Data $0$52K
Bonus $582 - $14,846
Commission $1,850 - $20,580
Profit Sharing $3,000
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).
)
$25,605 - $52,713
  • Country: United States
  • Currency: USD
  • Updated: 25 Jul 2017
  • Individuals Reporting: 171

Find Out Exactly What You Should Be Paid

United States (change)

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

  • 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.
  • Approve, deny, and review loan recommendations.
  • 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.

Common Career Paths for Assistant Loan Officer


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Assistant Loan Officers' salaries may rise greatly for those who assume a higher-end position such as a Commercial Loan Officer. The average Commercial Loan Officer brings home $66K per year.

Assistant Loan Officer Job Listings

Popular Employer Salaries for Assistant Loan Officer


For Assistant Loan Officers, comfortable salaries can be found at Prospect Mortgage; in fact, median earnings sit around $43K, the highest in the area.

Popular Skills for Assistant Loan Officer


Assistant Loan Officers report using a diverse set of skills on the job. Most notably, skills in Mortgage Loans, Loan Processing, Customer Relationship Management, and Customer Service are correlated to pay that is above average, with boosts in pay of 7 percent. The majority of those who know Customer Relations also know Mortgage Loans.

Pay by Experience Level for Assistant Loan Officer

Pay by Experience for an Assistant Loan Officer has a positive trend. An entry-level Assistant Loan Officer with less than 5 years of experience can expect to earn an average total compensation of $35,000 based on 256 salaries provided by anonymous users. Average total compensation includes tips, bonus, and overtime pay. An Assistant Loan Officer with mid-career experience which includes employees with 5 to 10 years of experience can expect to earn an average total compensation of $44,000 based on 79 salaries. An experienced Assistant Loan Officer which includes employees with 10 to 20 years of experience can expect to earn an average total compensation of $45,000 based on 81 salaries. An Assistant Loan Officer with late-career experience which includes employees with greater than 20 years of experience can expect to earn an average total compensation of $45,000 based on 32 salaries.

Related Job Salaries

Key Stats for Assistant Loan Officer

Gender

Female
81 %
Male
19 %

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 52 votes.
Less than 1 year
14%
1-4 years
48%
5-9 years
12%
10-19 years
19%
20 years or more
7%
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Location:
Years in Fields/Career:
United States (change)

Experience Affects Assistant Loan Officer Salaries

▲17%

▲16%

▲13%

National Average
$39,000

▼10%

Skills That Affect Assistant Loan Officer Salaries






National Average
$39,000

Loan Documents
▼3%

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 52 votes.

Gender

Female
81 %
Male
19 %

Years of Experience

Less than 1 year
14%
1-4 years
48%
5-9 years
12%
10-19 years
19%
20 years or more
7%

Common Health Benefits

medical benefits
Medical: 71%
dental benefits
Dental: 63%
vision benefits
Vision: 56%
no benefits
None: 26%
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