Math. We all hate it, even though numbers is a big part of our job as a LO. Once we get consumed in the mortgage business, we forget what our goals were once we got in. I’d say 99% of the LOs I’ve talked to, go into the business with the goal to be a millionaire, but after a couple of years or so, they settle around $10,000/month.
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The national average salary for a Mortgage Loan Officer is $36,331 in United States. Filter by location to see Mortgage Loan Officer salaries in your area. Salary estimates are based on 1,075 salaries submitted anonymously to Glassdoor by Mortgage Loan Officer employees.
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There are many different specializations in the Loan Officer field. They are found working with auto loans, home mortgage loans, commercial business loans and more. Anywhere large sums of money are exchanged, there is often a need for a loan officer to help make it possible. It is part of your job as a loan officer to evaluate the backgrounds of the loan applicants. You must gather enough information to decide if the loan candidate is a good risk and likely to pay back the money borrowed.
Loan officers advise, evaluate and authorize loans to people and businesses. Financing a college education, buying a new car and purchasing a home for your family are among the dreams loan.
To guarantee a rate, you must submit an application to U.S. Bank and receive confirmation from a mortgage loan officer that your rate is locked. Application can be made by calling 877-303-1639, by applying online, or by meeting with a mortgage loan officer.
The Cherry Creek Mortgage team is here to guide you through the home financing. That's why our loan officers take the time to carefully consider each option.