The average hourly pay for an Assistant Loan Officer is $16.08.
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What Do Assistant Loan Officers Do?
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.
One of the assistant loan officer's main responsibilities incl…Read more
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.
Job Satisfaction for Assistant Loan Officer
Popular Employer Salaries for Assistant Loan Officer
The top respondents for the job title Assistant Loan Officer are from the companies Guild Mortgage Company, Cornerstone Home Lending and Fairway Mortgage. Reported salaries are highest at Guild Mortgage Company where the average pay is $17.53. Other companies that offer high salaries for this role include Fairway Mortgage and Cornerstone Home Lending, earning around $16.00 and $15.48, respectively. Primelending pays the lowest at around $14.71. Alterra and American Pacific Mortgage Corp also pay on the lower end of the scale, paying $14.74 and $15.48, respectively.
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Somewhat common (8 - 20%)
Assistant Loan Officer Job Listings
What Are Popular Skills for Assistant Loan Officers?
Skills in Mortgage Loans and Customer Service are correlated to pay that is above average. Skills that pay less than market rate include Customer Relationship Management (CRM) and Customer Relations.
What is the Pay by Experience Level for Assistant Loan Officers?
An entry-level Assistant Loan Officer with less than 1 year experience can expect to earn an average total compensation (includes tips, bonus, and overtime pay) of $14.55 based on 71 salaries. An early career Assistant Loan Officer with 1-4 years of experience earns an average total compensation of $15.59 based on 309 salaries. A mid-career Assistant Loan Officer with 5-9 years of experience earns an average total compensation of $18.08 based on 86 salaries. An experienced Assistant Loan Officer with 10-19 years of experience earns an average total compensation of $18.64 based on 93 salaries. In their late career (20 years and higher), employees earn an average total compensation of $19.
Pay Difference by Location
Employees with Assistant Loan Officer in their job title in Seattle, Washington earn an average of 30.6% more than the national average. These job titles also find higher than average salaries in San Antonio, Texas (12.8% more). The lowest salaries can be found in Las Vegas, Nevada (16.3% less), St. Louis, Missouri (6.8% less) and Oklahoma City, Oklahoma (6.7% less).
Years of Experience
This data is based on 597 survey responses.