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Salary and Benefits

Loan Assistant
$35K-$42K / yr. (est.)
$35K
$39,056 / year
$43K
Average base salary
The salary information provided is based on data collected from various reliable sources and may vary depending on individual qualifications and other factors.

About Loan Assistant

What does a Loan Assistant do?

As loan assistants, we perform duties such as using collecting borrower information, and reviewing borrower applications. We prepare cost estimates, handle the loan processing, and ensure proper documentation. Explaining terms and conditions to various borrowers is also our duty. Our responsibilities also include assessing and authorizing the approval of business or credit loans and evaluating the financial status of loan applicants. Some of us review loan files and update account records. We liaise between loan applicants and financial institutions and help qualified applicants obtain loans.

Core tasks:

  • meeting with loan applicants to mark their needs and collect information for loan processing
  • completing loan contracts and teaching applicants on policies and regulations
  • rejecting loan applications and describing deficiencies to applicants

Insights

How Many Years of Experience Do Professionals Need Before Becoming Loan Assistant?
On average, people work 3-5 years in other positions prior to becoming a Loan Assistant.
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Mortgage ConsultantMiami, FL - A year ago
It's interesting to see how much experience is required before becoming a Loan Assistant. I guess it pays to have a diverse background.
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UnderwriterSeattle, WA - A year ago
😡 Why does it take so long to become a Loan Assistant? I've been underwriting loans for years and it's frustrating to see this kind of requirement.
How Long Do Loan Assistant Employees Typically Stay in Their Roles?
On average, Loan Assistants works in this position for 3-5 years across multiple employers.
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Financial AnalystHouston, TX - A year ago
Loan Assistants need to think long-term and work towards advancing their careers instead of job-hopping every few years.
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Mortgage BrokerMiami, FL - A year ago
Not another infographic triggering people! Loan Assistants are crucial for mortgage brokers, let's remember that.
What Is the Job Hopper Score for Loan Assistant Employees?
Moderate job changes in Loan Assistant, showing some career movement without excessive turnover.
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Financial AnalystHouston, TX - A year ago
hmm... I expected more lateral movement and higher turnover in Loan Assistant role. Seems stable overall, but I still have doubts about its long-term growth potential. 🤔
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Mortgage BrokerPhiladelphia, PA - A year ago
I am surprised to see Loan Assistants reaching Mortgage Broker positions. It seems like a logical progression, but I wonder if there are additional factors contributing to it.

Career path

Path to job

Discover a Loan Assistant's areas of knowledge sorted by their majors.
Explore the list of higher education institutions that a Loan Assistant typically studied at.
Arkansas State University-Beebe
Iowa State University

Path after job

Community

Demographics

What Is the Age and Gender Ratio of Loan Assistant Employees?
Gender ratio in Loan Assistant position: 0.317579849389769 Male and 0.682420150610231 Female. Age ratio in Loan Assistant position: 16-20: 34%, 21-30: 54%, 31-40: 8%, 41-50: 3%, 51-60: 1%, 60+: 0%. Loan Assistant position is predominantly female (68.2%) with the largest age group being 21-30 years old, followed by 16-20 years old.
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Loan AssistantPhiladelphia, PA - A year ago
Why are so many Loan Assistants in their early twenties? Are companies just hiring young and inexperienced? 🤔
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Loan AssistantSan Francisco, CA - A year ago
Interesting. The majority of Loan Assistants are young women. Is there any particular reason for that? 🤔

Workplaces

Who Are the Top Employers for Loan Assistant?
Top employers of Loan Assistant position: BancorpSouth, Bank OZK, Centennial Bank. People who work in Loan Assistant position most typically go on to work for the BancorpSouth.
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Loan AssistantMiami, FL - A year ago
Bank OZK is the worst! They deny too many loan applications and their policies are unfair.
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Loan AssistantSeattle, WA - A year ago
Centennial Bank is the best choice for Loan Assistants. They provide excellent training and opportunities for growth.
BancorpSouth
Bank OZK
Centennial Bank
What Industries Does Loan Assistant Typically Have Experience In?
Industry Background: The most typical industries of Loan Assistant: Finance & Insurance, Education, Real Estate / Rental / Leasing, Professional / Scientific / Technical, Publishing & Broadcasting. Loan Assistant employees most likely come from a Finance & Insurance industry background.
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Loan AssistantHouston, TX - A year ago
The loan industry is so saturated. It's hard to stand out as a Loan Assistant and get promoted. 😔
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Loan AssistantPhiladelphia, PA - A year ago
I hate being a Loan Assistant! The long hours and constant pressure make it feel like a never-ending nightmare. 😫

Find your job as Loan Assistant

Discussion about Loan Assistant

Want to know more about Loan Assistant position?
Share your thoughts and ideas about Loan Assistant position with others in our community.
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Is Loan Assistant a female or male dominated profession?
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Benjamin Gardner4 years ago
Women are more common working as a Loan Assistant.
What is the typical age of people who work as a Loan Assistant?
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Sophie Hayes4 years ago
The typical age is 24 for a Loan Assistant.
How much experience do you need to work as a Loan Assistant?
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Isabella Holmes4 years ago
You need 4 years of experience to work as a Loan Assistant.
Which industries are highly likely to employ a Loan Assistant?
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Sophie Hayes4 years ago
Finance & Insurance is typical for a Loan Assistant to work in.
Speaking of higher education, do I need a degree as a Loan Assistant?
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Sophie Hayes4 years ago
You should be fine with No higher education
Which company is likely to have openings for Loan Assistant positions?
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Liam Brown4 years ago
If you are a Loan Assistant you should definitely apply for BancorpSouth, Bank OZK, Centennial Bank, Central Bancompany and South State
How many years do people spend as a Loan Assistant in their career path?
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Isabella Holmes4 years ago
A Loan Assistant typically changes positions after 4 years.
How likely is it for people working as a Loan Assistant to switch companies still working as a Loan Assistant?
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Benjamin Gardner4 years ago
A typical Loan Assistant might work for one or two companies.
What jobs do people work in before becoming a Loan Assistant?
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Sophie Hayes4 years ago
A Loan Assistant probably worked as Teller, Customer Service Representative or Loan Processor before
What can be the next step in your career path from Loan Assistant?
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Liam Brown4 years ago
Changing from a Loan Assistant to Loan Officer, Administrative Assistant or Loan Processor is a typical career path.
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