The average salary for a Loan Officer, Consumer is $42,917.
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$30k - $60k
$492 - $8k
$378 - $9k
$495 - $12k
$30k - $56k
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Job Description for Loan Officer, Consumer
A consumer loan officer works at a financial institution, interacts with individuals, and helps them secure lines of credit such as mortgages, car loans, and individual loans. Much of the work is done one on one with customers, so it is important to be a friendly and professional individual. It is important to be able to determine what the customer’s needs are and then determine which loan should be applied for. The loan officer may carry out pre-qualification procedures and determine what the …Read more
Loan Officer, Consumer Tasks
- Interview and accept consumer loan applications.
- Solicit lending institutions and finance companies to find money for customers.
- Determine repayment plan.
- Obtain, investigate, and validate application information.
- Market, solicit, and process consumer loans.
Popular Employer Salaries for Loan Officer, Consumer
Explore the most common career paths for Loan Officer, Consumer. Thickness and color of lines indicates how common a path is.
More common (> 20%)
Somewhat common (8 - 20%)
Less common (< 8%)
Loan Officer, Consumer Job Listings
Popular Skills for Loan Officer, Consumer
Skills in Consumer Loans, Loan Underwriting and Loan Processing are correlated to pay that is above average. Skills that pay less than market rate include Account Sales and Customer Service.
Pay by Experience Level for Loan Officer, Consumer
An entry-level Loan Officer, Consumer with less than 1 year experience can expect to earn an average total compensation (includes tips, bonus, and overtime pay) of $38,293 based on 39 salaries. An early career Loan Officer, Consumer with 1-4 years of experience earns an average total compensation of $38,871 based on 110 salaries. A mid-career Loan Officer, Consumer with 5-9 years of experience earns an average total compensation of $44,161 based on 58 salaries. An experienced Loan Officer, Consumer with 10-19 years of experience earns an average total compensation of $44,693 based on 59 salaries. In their late career (20 years and higher), employees earn an average total compensation of $49,841.
Years of Experience
This data is based on 290 survey responses.