The median pay for Loan Officers is $76,690 a year ($36.87/hr), according to BLS OEWS, May 2025. Employment is projected to grow 1.1% through 2035, with about 17,100 openings a year (BLS EP, 2025–2035). Typical entry-level education: Bachelor's degree.
- SOC 13-2072
- Business and Financial Operations
- Last updated October 15, 2026
At a glance
Loan Officer in four numbers
- Median pay
- $76,690a year, or $36.87/hrBLS OEWS, May 2025Lowest 10% $39KTop 10% $153K
US median, all jobs: $50,980
- Projected growth
- +1.1%Slower than averageBLS EP, 2025–2035This career+1.1%All jobs+3.5%
Projected employment change, 2025–2035 Item Value This career +1.1% All jobs +3.5% - Openings a year
- 17,100283,000 jobs todayBLS EP, 2025–2035
- Jobs in 2025283K
- Projected 2035286K
Employment, 2025–2035 Item Value Jobs in 2025 283K Projected 2035 286K - Typical education
- Bachelor'sneeded to enterBLS EP, 2025–2035; mix: O*NET
- High school6.1%
- Some college12.8%
- Associate's11.2%
- Bachelor's68.7%
- Post-bacc certificate1.1%
Highest education held by loan officers Segment Value High school 6.1% Some college 12.8% Associate's 11.2% Bachelor's 68.7% Post-bacc certificate 1.1%
Also advertised as: Commercial Banker, Commercial Loan Officer, Corporate Banking Officer, Financial Aid Advisor, Financial Aid Counselor, Financial Aid Officer.
Pay
How much do loan officers make?
Loan Officers earn a median of $76,690 a year ($36.87 an hour, or about $6,390 a month); the lowest-paid 10% earn less than $39,430 and the top 10% more than $153,180 (BLS OEWS, May 2025).
The best-paying state is Massachusetts, with a median of $101,600. See Loan officer salary in Massachusetts and every other state. By city, pay is highest around Elmira ($129,380 average): salary in every city.
Every loan officer in the US, by percentile of annual wage
Median
$76,690
Middle half earn $52,730 to $104,080
- 10th
- $39,430
- 25th
- $52,730
- 75th
- $104,080
- 90th
- $153,180
All US occupations: $50,980
| Percentile | Value |
|---|---|
| 10th | $39,430 |
| 25th | $52,730 |
| Median | $76,690 |
| 75th | $104,080 |
| 90th | $153,180 |
| All US occupations | $50,980 |
Source: BLS OEWS, May 2025
- Median annual wage
- $76,690
- Median hourly wage
- $36.87/hr
- Mean annual wage
- $87,790
- People employed
- 274,330
Versus all US occupations
At $76,690, Loan Officers earn 50% above the $50,980 median across all US occupations, a difference of $25,710 a year.
Versus business and financial operations occupations
Inside the Business and Financial Operations group, where the middle occupation pays $80,730, this is 5% below the group median.
Pay range
The top 10% earn $153,180 or more while the bottom 10% earn $39,430, a gap of 3.9×. That is an unusually wide spread, which usually tracks specialisation, employer type and years of experience.
Rank in the bank
This median pays more than 52% of the 1,741 occupations in the NueCareer career bank.
Cost of living
Massachusetts posts the highest raw median ($101,600), but once local prices are taken into account Kansas leads at $96,560 in national-average dollars.
Pay by state
Which states pay loan officers the most?
State medians come from the same OEWS release as the national figures. The cost-of-living column divides each state median by that state's BEA Regional Price Parity, restating pay in national-average dollars so a high-cost state and a low-cost one can be compared directly.
| State | Median | COL-adjusted | Employed |
|---|---|---|---|
| 1Massachusetts | $101,600 | $96,069 | 4,470 |
| 2Connecticut | $95,730 | $92,395 | 2,220 |
| 3New York | $95,710 | $88,685 | 10,840 |
| 4Minnesota | $95,170 | $96,501 | 6,430 |
| 5Colorado | $94,520 | $91,721 | 3,230 |
| 6Oregon | $94,440 | $91,369 | 4,220 |
| 7New Jersey | $92,920 | $85,400 | 6,200 |
| 8District of Columbia | $92,890 | $84,522 | 370 |
| 9Vermont | $88,710 | $90,559 | 350 |
| 10Kansas | $86,970 | $96,560 | 3,540 |
Job outlook
Is loan officer a growing career?
Employment change over 2025–2035, against every US occupation
Slower than average. +1.1% projected growth vs 3.5% for all occupations.
| Item | Value |
|---|---|
| Loan Officers | +1.1% |
| All US occupations | +3.5% |
Source: BLS EP, 2025–2035
Slower than average
BLS projects employment of Loan Officers to change 1.1% over 2025–2035, against 3.5% projected for all occupations. That is 3,100 more jobs.
Annual openings
About 17,100 openings are projected each year, 6.0% of the 283,000 jobs that existed in 2025. Most come from workers leaving the occupation, not from growth alone.
Despite limited employment growth, about 17,100 openings for loan officers are projected each year, on average, over the decade.
Most of those openings are expected to result from the need to replace workers who transfer to different occupations or exit the labor force, such as to retire.
Demand for loan officers is expected as both businesses and individuals seek credit to finance commercial investments and personal spending. Loan officers will be needed to evaluate the creditworthiness of applicants and determine the likelihood that loans will be paid back in full and on time.
However, the decline of bank branches and the increased use of productivity-enhancing technology in loan processing are expected to slow employment growth.
AI exposure: very high
BLS places this occupation in its very high relative AI exposure category, among the occupations most exposed to current AI.
Getting in
How to become a loan officer
Most loan officers need no licence at all. Mortgage loan originators do, and which one you need is decided by your employer, not by you. Work for a bank, savings association, credit union or Farm Credit System institution and you are federally REGISTERED under Regulation G: fingerprints, a criminal background check and a unique NMLS identifier, with no examination and no required coursework. Work anywhere else, an independent mortgage lender or broker, and you must be state LICENSED under Regulation H: 20 hours of approved pre-licensing education, a score of at least 75 percent on the SAFE MLO test, a credit report, a criminal background check and a bond, renewed at least annually with 8 hours of continuing education. Both appear in NMLS, both give you an ID number, and they are not the same thing.
The credential path, step by step
- Work out which regime your employer puts you in
Regulation G covers employees of a "covered financial institution": national banks, member banks, insured state nonmember banks, savings associations, Farm Credit System institutions and federally insured credit unions, along with their qualifying subsidiaries. Those employees register. Everyone else who takes a residential mortgage loan application and offers or negotiates terms of a residential mortgage loan for compensation or gain must hold a state licence. People performing purely administrative or clerical tasks are not mortgage loan originators at all.
- Get the degree or the equivalent experience
BLS records a bachelor's degree as the typical entry-level education, usually in a field such as business or finance, plus moderate-term on-the-job training after hire. Some jobseekers enter without a degree on the strength of banking, customer service or sales experience, and mortgage companies often prefer candidates with residential mortgage or real estate experience.
- If you will be federally registered, the process runs through your employer
The institution must require you to register with NMLS, obtain a unique identifier and maintain it, and must not let you originate before you do. You submit fingerprints for an FBI criminal background check. The SAFE Act does not require you to take approved education or to sit the SAFE test in order to be actively registered; instead the institution provides periodic training and obtains a credit report to assess financial responsibility. A de minimis exception applies to an employee who has never been registered or licensed and who acted as a mortgage loan originator for 5 or fewer residential mortgage loans in the past 12 months.
- If you will be state licensed, start with the 20 hours20 hours minimum, more where your state adds its own requirement
At least 20 hours of pre-licensing education reviewed and approved by NMLS, which must include at least 3 hours of federal law and regulations, 3 hours of ethics covering fraud, consumer protection and fair lending, and 2 hours of training on lending standards for the nontraditional mortgage product marketplace.
- Pass the SAFE MLO test at 75 percent
The SAFE MLO National Test with Uniform State Content is 120 multiple-choice items, of which 115 are scored and 5 are unscored, weighted 24 percent federal mortgage related laws, 20 percent general mortgage knowledge, 27 percent mortgage loan origination activities, 18 percent ethics and 11 percent uniform state content. Federal law sets the pass mark at not less than 75 percent correct. You may take the test three consecutive times with at least 30 days between attempts; fail three in a row and you must wait at least 6 months, which NMLS administers as a 180-day wait, before trying again.
- Clear the character, credit and bond checks, then renew every year
A state must find that you have never had a loan originator licence revoked, have no felony conviction in the previous 7 years and no felony ever involving fraud, dishonesty, breach of trust or money laundering, and have demonstrated financial responsibility, character and general fitness. You submit fingerprints through NMLS for state and national criminal history checks and authorise an independent credit report, and you must be covered by a net worth or surety bond requirement or pay into a state fund. Renewal is at least annual and requires 8 hours of NMLS-approved continuing education, of which at least 3 hours must be federal law and regulations, 2 hours ethics and 2 hours nontraditional mortgage lending.
Exams you have to pass
SAFE MLO National Test with Uniform State Content (SAFE MLO Test)
120 multiple-choice items, 115 of them scored and 5 unscored, covering federal mortgage related laws (24 percent), general mortgage knowledge (20 percent), mortgage loan origination activities (27 percent), ethics (18 percent) and uniform state content (11 percent). Federal law requires a score of not less than 75 percent correct. Three consecutive attempts are allowed with at least 30 days between each; after three failures the wait is at least 6 months. Only state-licensed originators must take it: federally registered originators are not required to sit it at all.
Administered by Nationwide Multistate Licensing System and Registry (NMLS), developed under 12 U.S.C. 5105(d).
- How long the training takes
20 hours of pre-licensing education for a state licence, and none at all for a federal registration
The credential itself is a matter of days rather than years. What takes time is the qualification behind it: BLS records a bachelor's degree as the typical entry-level education and moderate-term on-the-job training after hire. A formerly state-licensed originator who goes 5 years or more without a valid licence, not counting time spent as a registered originator, must sit and pass the test again.
- Continuing education
Required to stay credentialed
For state-licensed originators it is federally mandated and annual: at least 8 hours of NMLS-approved education, including at least 3 hours of federal law and regulations, 2 hours of ethics covering fraud, consumer protection and fair lending, and 2 hours of nontraditional mortgage lending. Credits cannot be carried between years and the same course cannot be repeated in the same or successive years. Instructors of an approved continuing education course earn 2 hours of credit for every hour taught. Federally registered originators have no individual continuing education requirement at all; the employing institution must instead provide periodic training relevant to their origination activities.
Licensing and state variation
Licensed state by state
The licence is issued by each state's own mortgage regulator through NMLS, and Regulation H sets only the floor. Every state must impose the 20 hours of approved pre-licensing education with its 3 or 3 or 2 hour split, the 75 percent pass mark, the felony bars, the fingerprint and credit checks and the bond or net worth requirement, and must renew licences no less often than annually with 8 hours of continuing education. Above that floor states add their own requirements, and BLS notes that individual states may have additional requirements. Two consequences catch people out. First, a state-licensed originator may not apply continuing education credits from one year to a later year, may not take the same approved course twice in the same or successive years, and only gets credit in the year the course is taken. Second, nothing in a federal registration counts toward a state licence: an originator moving from a bank to an independent mortgage company starts the Regulation H minimum standards from the beginning, education and test included.
Who governs the credential
- Consumer Financial Protection Bureau (CFPB)
Writes both halves of the split: Regulation H (12 CFR part 1008) sets the minimum standards a state must impose before it can license a loan originator, and Regulation G (12 CFR part 1007) sets the federal registration requirements for originators employed by covered financial institutions.
- Nationwide Multistate Licensing System and Registry (NMLS)
The system of record for both state licensing and federal registration, developed and maintained by the Conference of State Bank Supervisors and the American Association of Residential Mortgage Regulators. It issues the unique identifier, approves pre-licensing and continuing education courses, and delivers the SAFE MLO test. It does not itself grant or deny licensing authority.
- State mortgage regulators
Issue and renew the loan originator licence. Each state must maintain a licensing, supervisory and oversight authority meeting the minimum standards in Regulation H, and may impose requirements above them.
Credential detail for loan officers is researched by hand from the bodies that issue it, not derived from BLS or O*NET. Sources last checked August 23, 2026. Requirements change: confirm with your own state board before enrolling in anything.
- US Bureau of Labor Statistics, Occupational Outlook Handbook: Loan Officers · checked August 23, 2026
- eCFR, 12 CFR part 1008: S.A.F.E. Mortgage Licensing Act, State Compliance and Bureau Registration System (Regulation H) · checked August 23, 2026
- eCFR, 12 CFR part 1007: S.A.F.E. Mortgage Licensing Act, Federal Registration of Residential Mortgage Loan Originators (Regulation G) · checked August 23, 2026
- NMLS: Federal Registration Requirements for MLOs · checked August 23, 2026
- NMLS MLO Testing Handbook: SAFE MLO National Test with Uniform State Test Content Outline · checked August 23, 2026
- NMLS MLO Testing Handbook: Retaking a Failed Test and Waiting Periods · checked August 23, 2026
- CFPB: SAFE Act examination procedures · checked August 23, 2026
What the federal data says
Loan officers typically need a bachelor’s degree and on-the-job training. Mortgage loan officers must be licensed.
- 1
Typical entry-level education
Bachelor's degree
- 2
Work experience in a related occupation
Less than 5 years
- 3
Typical on-the-job training
Moderate-term on-the-job training
- 4
Preparation needed (O*NET job zone)
Considerable preparation
BLS Employment Projections, 2025–2035; job zone from O*NET 31.0 Database.
What education people in the job have
O*NET incumbent survey: the highest level of education reported by people already working as loan officers.
- Bachelor's Degree68.7%
- Some College Courses12.8%
- Associate's Degree or other 2-year degree11.2%
- High School Diploma or the equivalent (such as a GED)6.1%
- Post-Baccalaureate Certificate1.1%
| Item | Value |
|---|---|
| Bachelor's Degree | 68.7% |
| Some College Courses | 12.8% |
| Associate's Degree or other 2-year degree | 11.2% |
| High School Diploma or the equivalent (such as a GED) | 6.1% |
| Post-Baccalaureate Certificate | 1.1% |
Source: O*NET 31.0 Database
The work
What does a loan officer do?
Evaluate, authorize, or recommend approval of commercial, real estate, or credit loans. Advise borrowers on financial status and payment methods. Includes mortgage loan officers and agents, collection analysts, loan servicing officers, loan underwriters, and payday loan officers.
Loan officers evaluate, authorize, or recommend approval of applications for personal and business loans.
Day-to-day tasks
- Explain to customers the different types of loans and credit options that are available, as well as the terms of those services.
- Obtain and compile copies of loan applicants' credit histories, corporate financial statements, and other financial information.
- Meet with applicants to obtain information for loan applications and to answer questions about the process.
- Analyze applicants' financial status, credit, and property evaluations to determine feasibility of granting loans.
- Review and update credit and loan files.
- Handle customer complaints and take appropriate action to resolve them.
- Work with clients to identify their financial goals and to find ways of reaching those goals.
- Stay abreast of new types of loans and other financial services and products to better meet customers' needs.
O*NET core tasks, ordered by reported importance.
Working conditions and hours
Most loan officers work full time, and some work more than 40 hours per week.
Where the work happens
Indoors, climate-controlled
NeverEvery dayIndoors, in a climate-controlled space, every day.
Outdoors in all weather
NeverEvery day
Physical demands
Sitting
NeverAlmost all the timeSeated for more than half the working day.
Standing
NeverAlmost all the timeBending or twisting
NeverAlmost all the time
Working with people
Contact with other people
NoneConstantConstant contact with other people.
Face-to-face discussions
NeverEvery dayFace-to-face discussions every day.
Dealing with the public
Not importantExtremely importantDealing with customers or the public is very important.
Pressure and stakes
Strict deadlines
NeverEvery dayMeeting strict deadlines at least weekly.
Conflict situations
NeverEvery dayCost of a mistake
Not seriousExtremely serious
Autonomy
Freedom to decide
NoneA lotA lot of freedom to make decisions without checking first.
Schedules: BLS Occupational Outlook Handbook, 2025–2035 edition. Conditions: O*NET Work Context survey. Each item has its own scale, so each dot is read against the two answers that end its own line.
Where loan officers work
Share of jobs by employer type
- Credit intermediation and related activities80%
- Management of companies and enterprises4%
- Automobile dealers4%
| Item | Value |
|---|---|
| Credit intermediation and related activities | 80% |
| Management of companies and enterprises | 4% |
| Automobile dealers | 4% |
Source: BLS Occupational Outlook Handbook, 2025–2035 edition
Core skills
O*NET importance, 1 to 5
- Active Listening4.0
- Speaking4.0
- Reading Comprehension3.9
- Critical Thinking3.8
- Writing3.4
- Mathematics3.3
- Active Learning3.1
- Monitoring2.9
| Item | Value |
|---|---|
| Active Listening | 4.0 |
| Speaking | 4.0 |
| Reading Comprehension | 3.9 |
| Critical Thinking | 3.8 |
| Writing | 3.4 |
| Mathematics | 3.3 |
| Active Learning | 3.1 |
| Monitoring | 2.9 |
Source: O*NET 31.0 Database
Transferable skills
O*NET importance, 1 to 5
- Judgment and Decision Making3.9
- Social Perceptiveness3.3
- Complex Problem Solving3.3
- Time Management3.1
- Service Orientation3.0
- Coordination2.9
- Persuasion2.9
- Negotiation2.9
| Item | Value |
|---|---|
| Judgment and Decision Making | 3.9 |
| Social Perceptiveness | 3.3 |
| Complex Problem Solving | 3.3 |
| Time Management | 3.1 |
| Service Orientation | 3.0 |
| Coordination | 2.9 |
| Persuasion | 2.9 |
| Negotiation | 2.9 |
Source: O*NET 31.0 Database
Tools and software
- Data base user interface and query software · in demand
- Electronic mail software · in demand
- Enterprise resource planning ERP software · in demand
- Office suite software · in demand
- Presentation software · in demand
- Spreadsheet software · in demand
- Video conferencing software · in demand
- Word processing software · in demand
- Accounting software
- Compliance software
- Content workflow software
- Customer relationship management CRM software
“In demand” marks an O*NET Employer-Based Hot Technology, software named in real job postings for this occupation.
The workforce
Who works as a loan officer?
Women make up 50.1% of loan officers, close to their 47.1% share of all employed people.
28.7% are 55 or older (23.2% across all jobs), so a larger-than-usual share of the workforce reaches retirement age over the next decade. Those exits are counted in the BLS openings figure.
The median worker is 44.9 years old (all workers: 42.1).
- Women
- 50.1%All workers 47.1% · BLS CPS, 2025
- Median age
- 44.9All workers 42.1 · BLS CPS, 2025
- Aged 55+
- 28.7%All workers 23.2% · BLS CPS, 2025
- Employed (CPS)
- 352,000Credit counselors and loan officers · BLS CPS, 2025
| Group | Share of loan officers | All employed people |
|---|---|---|
| Women | 50.1% | 47.1% |
| White | 81.1% | 75.7% |
| Black or African American | 12.0% | 12.7% |
| Asian | 3.5% | 7.5% |
| Hispanic or Latino (any race) | 14.1% | 20.0% |
| Aged 55 and over | 28.7% | 23.2% |
| Aged 16 to 24 | 5.1% | 12.2% |
Current Population Survey annual averages, 2025 (BLS tables 11 and 11b). Race groups can overlap with Hispanic or Latino ethnicity, so they do not sum to 100%. CPS reports this occupation only within the wider Census group “Credit counselors and loan officers”, so these figures are for that group.
Personality fit
What personality type suits a loan officer?
O*NET Occupational Interests (RIASEC), scored 1 to 7
| Axis | Loan Officer |
|---|---|
| Realistic | 1 |
| Investigative | 2 |
| Artistic | 1 |
| Social | 4 |
| Enterprising | 5 |
| Conventional | 6 |
Source: O*NET 31.0 Database
What the work is built around
Day to day this is work built around organising, following procedures and working precisely with data, combined with leading, persuading, selling and making decisions.
- Conventional6.1
- Enterprising5.0
- Social3.6
- Investigative2.3
- Realistic1.4
- Artistic1.0
Closest MBTI types
NueCareer fit scores: cosine similarity between each MBTI type's interest vector and this occupation's O*NET interest profile. Not a BLS or O*NET figure; the method is documented on our methodology page.
Explore further
Careers related to Loan Officer
O*NET related occupations
- Office and Administrative Support
- Business and Financial Operations
- Business and Financial Operations
- Office and Administrative Support
- Business and Financial Operations
- Sales and Related
Security, Commodity, and Financial Services Sales Agent
$78,660median a year
Most earn $48K to $213K
+1.4%Bachelor's
More business and financial operations careers
Median annual pay, with loan officers highlighted
- Financial Advisor$105,070
- Accountant$83,680
- Insurance Underwriter$81,370
- Coroner$80,730
- Compliance Officer$80,730
- Claims Adjuster, Examiner, and Investigator$78,000
- Loan Officer$76,690
- Human Resources Specialist$75,940
- Appraiser and Assessor of Real Estate$67,960
| Item | Value |
|---|---|
| Financial Advisor | $105,070 |
| Accountant | $83,680 |
| Insurance Underwriter | $81,370 |
| Coroner | $80,730 |
| Compliance Officer | $80,730 |
| Claims Adjuster, Examiner, and Investigator | $78,000 |
| Loan Officer | $76,690 |
| Human Resources Specialist | $75,940 |
| Appraiser and Assessor of Real Estate | $67,960 |
Source: BLS OEWS, May 2025
Specialty careers within loan officer
Distinct careers BLS counts inside this occupation, each with its own profile.
Lists Loan Officer appears on
Questions
Loan Officer: frequently asked questions
How much do loan officers make?
Loan Officers earn a median of $76,690 a year (BLS OEWS, May 2025). That is 50% above the $50,980 median for all US occupations. That works out at $36.87/hr. The middle half earn between $52,730 and $104,080. The top 10% earn $153,180 or more.
How much do loan officers make an hour?
The median hourly wage for loan officers is $36.87 (BLS OEWS, May 2025). On a full-year basis the $76,690 annual median works out to about $6,390 a month before tax.
What is the starting salary for a loan officer?
BLS does not publish a starting salary. The nearest measure is the low end of the pay range: the lowest-paid 10% of loan officers earn less than $39,430 a year and the bottom quarter less than $52,730 (BLS OEWS, May 2025). New workers often start near that end, but where a particular job starts depends on the employer, the state and the credentials you bring, so read these as the bottom of the range rather than a guaranteed entry wage.
Do loan officers make $100k?
Some do. $100,000 sits between the median ($76,690) and the 75th percentile ($104,080), so roughly a quarter to a half of loan officers earn more than that (BLS OEWS, May 2025). One state has a median above $100,000: Massachusetts ($101,600).
Which states pay loan officers the most?
The highest state medians for Loan Officers are Massachusetts ($101,600), Connecticut ($95,730), New York ($95,710) (BLS OEWS, May 2025). Adjusted for local prices using BEA Regional Price Parities, Kansas moves to the top at $96,560.
What kind of loan officer earns the most?
BLS does not split loan officers' pay by specialty or employer, but its range shows how far the top end runs: the highest-paid 10% earn more than $153,180, against a median of $76,690 (BLS OEWS, May 2025). Location moves pay the most in the published data: the best-paying states are Massachusetts ($101,600), Connecticut ($95,730), New York ($95,710). BLS also counts a specialty career inside this occupation (special assets officer), which shares its federal pay figures.
Do you need a degree to become a loan officer?
Yes. BLS reports a bachelor's degree as the typical entry-level education for Loan Officers, and O*NET rates the preparation needed as considerable preparation. Employers typically expect less than 5 years of related work experience first. BLS also lists moderate-term on-the-job training as typical on-the-job training. In O*NET's survey of people already doing the job, 68.7% hold bachelor's degree.
Is loan officer a growing career?
It is growing, but slowly: 1.1% over 2025–2035 against 3.5% for all occupations (BLS EP, 2025–2035). BLS still projects about 17,100 openings a year, mostly from workers retiring or moving to other work.
What does a loan officer do?
Loan officers evaluate, authorize, or recommend approval of applications for personal and business loans. A core O*NET task: explain to customers the different types of loans and credit options that are available, as well as the terms of those services. Employers most often ask for Data base user interface and query software, Electronic mail software, Enterprise resource planning ERP software.
Do loan officers work 40 hours a week?
Most work more than 40. In O*NET's survey of people in the job, 51% of loan officers usually work more than 40 hours a week, 39% work exactly 40 and 10% work fewer. 87% say their schedule is regular and 13% irregular. Source: O*NET 31.0 Database, Work Context.
What personality type suits a loan officer?
O*NET scores Loan Officers highest on the Conventional, Enterprising and Social interest areas, so the work mixes organising, following procedures and working precisely with data with leading, persuading, selling and making decisions. On NueCareer's MBTI-to-interest mapping the closest types are ESFJ, ESTJ. Personality is a fit signal, not a gate. The free NueCareer quiz scores your own profile against all 1,731 careers in the bank.
How long does it take to become a loan officer?
20 hours of pre-licensing education for a state licence, and none at all for a federal registration. The credential itself is a matter of days rather than years. What takes time is the qualification behind it: BLS records a bachelor's degree as the typical entry-level education and moderate-term on-the-job training after hire. A formerly state-licensed originator who goes 5 years or more without a valid licence, not counting time spent as a registered originator, must sit and pass the test again.
Do you need a license to work as a loan officer?
Yes, and it is issued by the state you work in, not nationally. The licence is issued by each state's own mortgage regulator through NMLS, and Regulation H sets only the floor. Every state must impose the 20 hours of approved pre-licensing education with its 3 or 3 or 2 hour split, the 75 percent pass mark, the felony bars, the fingerprint and credit checks and the bond or net worth requirement, and must renew licences no less often than annually with 8 hours of continuing education. Above that floor states add their own requirements, and BLS notes that individual states may have additional requirements. Two consequences catch people out. First, a state-licensed originator may not apply continuing education credits from one year to a later year, may not take the same approved course twice in the same or successive years, and only gets credit in the year the course is taken. Second, nothing in a federal registration counts toward a state licence: an originator moving from a bank to an independent mortgage company starts the Regulation H minimum standards from the beginning, education and test included.
What exams do you have to pass to become a loan officer?
The SAFE MLO Test (SAFE MLO National Test with Uniform State Content). 120 multiple-choice items, 115 of them scored and 5 unscored, covering federal mortgage related laws (24 percent), general mortgage knowledge (20 percent), mortgage loan origination activities (27 percent), ethics (18 percent) and uniform state content (11 percent). Federal law requires a score of not less than 75 percent correct. Three consecutive attempts are allowed with at least 30 days between each; after three failures the wait is at least 6 months. Only state-licensed originators must take it: federally registered originators are not required to sit it at all.
What percentage of loan officers are women?
Women make up 50.1% of loan officers, close to their 47.1% share of all employed people. 28.7% are 55 or older (23.2% across all jobs), so a larger-than-usual share of the workforce reaches retirement age over the next decade. Those exits are counted in the BLS openings figure. The median worker is 44.9 years old (all workers: 42.1). Source: BLS Current Population Survey, 2025 annual averages, for the Census group "Credit counselors and loan officers".