Don't Miss Out on the Perfect Loan Originator job
Receive timely job alerts curated specifically for you, ensuring you never miss an opportunity to excel in your field.
No, I'm not interested
bell icon

Salary and Benefits

Loan Originator
$57K-$70K / yr. (est.)
$58K
$64,434 / year
$71K
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 Originator

What does a Loan Originator do?

As Loan Originators, we evaluate clients’ creditworthiness by processing loan applications and documentation within specified limits based on their financial history. We also interview applicants to determine the financial eligibility and feasibility of granting loans and all applicable ratios and metrics in order to set up debt payment plans. We communicate with clients to request or provide any valuable information or justify any decision (approval or rejection). We are also responsible for developing referral networks, suggesting alternate channels, and upsell products and services to fill our quotas.

Core tasks:

  • complete loan contracts and inform clients on policies and restrictions
  • assess customers’ needs, and introduce different types of loans
  • ensure compliance with laws and regulation and total adherence to lending compliance guidelines

Insights

How Many Years of Experience Do Professionals Need Before Becoming Loan Originator?
On average, people work 5-7 years in other positions prior to becoming a Loan Originator.
avatar-of-creator
Loan OriginatorHouston, TX - A year ago
😡 Why should I waste my time working in other positions for 5-7 years? I've been a Loan Originator for 2 years and I'm already doing great!
avatar-of-creator
Loan OriginatorMiami, FL - A year ago
This is absurd! I went straight into being a Loan Originator after I graduated and I've been thriving in this field for 6 years now. Experience is overrated!
How Long Do Loan Originator Employees Typically Stay in Their Roles?
On average, Loan Originators works in this position for 3-5 years across multiple employers.
avatar-of-creator
Finance AnalystChicago, IL - A year ago
I find it hard to believe that Loan Originators become experts within a few years. It takes experience and ongoing learning to truly understand the intricacies of this role.
avatar-of-creator
Bank TellerHouston, TX - A year ago
hey, ik a few Loan Originators who have been in the industry for a while and they r quite good at what they do. so, years of exp may not be the only standard, ya know? 🤷
What Is the Job Hopper Score for Loan Originator Employees?
Frequent job changes in Loan Originator, indicating a willingness to change companies and roles more frequently.
avatar-of-creator
Credit AnalystHouston, TX - A year ago
I prefer stability and dedication when assessing someone's financial decision-making skills. Frequent job changes can be concerning in the credit analysis field. 👀
avatar-of-creator
Loan ProcessorMiami, FL - A year ago
While job changes might demonstrate adaptability, extensive turnover can be detrimental to establishing strong working relationships with clients and lenders. 📉

Career path

Path to job

Discover a Loan Originator's areas of knowledge sorted by their majors.
Explore the list of higher education institutions that a Loan Originator typically studied at.
Arizona State University-Tempe
Florida State University

Path after job

Community

Demographics

What Is the Age and Gender Ratio of Loan Originator Employees?
Gender ratio in Loan Originator position: 0.636920791159811 Male and 0.363079208840189 Female. Age ratio in Loan Originator position: 16-20: 7%, 21-30: 45%, 31-40: 24%, 41-50: 15%, 51-60: 7%, 60+: 2%. Loan Originator position is predominantly male (63.7%) with the largest age group being 21-30 years old, followed by 31-40 years old.
avatar-of-creator
Loan OriginatorAtlanta, GA - A year ago
Shoot, I wanted to pursue this career, but now I'm concerned about being the odd one out. Need more diversity! 🤔
avatar-of-creator
Loan OriginatorSeattle, WA - A year ago
I'm not here for gender or age - I just love what I do, helping people find financial solutions. 🙌

Workplaces

Who Are the Top Employers for Loan Originator?
Top employers of Loan Originator position: Axia Home Loans, Cardinal Financial Company, Fairway Independent Mortgage. People who work in Loan Originator position most typically go on to work for the Axia Home Loans.
avatar-of-creator
Loan OriginatorDallas, TX - A year ago
I wouldn't say Axia Home Loans is the only path for Loan Originators. There are many options out there, and it's essential to explore different opportunities to find the best fit.
avatar-of-creator
Loan OriginatorNew York City, NY - A year ago
Fairway Independent Mortgage may have its perks, but don't overlook the smaller mortgage companies. They often provide a more personalized experience, benefiting both clients and Loan Originators.
Axia Home Loans
Cardinal Financial Company
Fairway Independent Mortgage
What Industries Does Loan Originator Typically Have Experience In?
Industry Background: The most typical industries of Loan Originator: Finance & Insurance, Real Estate / Rental / Leasing, Professional / Scientific / Technical, Construction, Administrative & Support. Loan Originator employees most likely come from a Finance & Insurance industry background.
avatar-of-creator
Loan OriginatorHouston, TX - A year ago
🙄 Loan Originators just want to make a quick buck without considering the financial stability and future of their clients.
avatar-of-creator
Loan OriginatorPhiladelphia, PA - A year ago
No wonder Loan Originators have such a bad reputation. Many of them don't even have proper qualifications and experience!

Find your job as Loan Originator

Discussion about Loan Originator

Want to know more about Loan Originator position?
Share your thoughts and ideas about Loan Originator position with others in our community.
discussion icon
How balanced is the gender diversity among people working as a Loan Originator?
avatar-of-creator
Isabella Holmes3 years ago
More men than women work as a Loan Originator.
What is the typical age to work as a Loan Originator?
avatar-of-creator
Benjamin Gardner3 years ago
The average age is 33
How many years of experience do you usually have as a Loan Originator?
avatar-of-creator
Sophie Hayes3 years ago
On average, people have 6 years of experience when they start working as a Loan Originator
Which industries have a lot of people working in Loan Originator roles?
avatar-of-creator
Liam Brown3 years ago
Finance & Insurance is the most frequent for a Loan Originator.
Do I need a degree to work as a Loan Originator?
avatar-of-creator
Liam Brown3 years ago
No higher education could not hurt if you want to be a Loan Originator
Which company are you working for as a Loan Originator?
avatar-of-creator
Benjamin Gardner3 years ago
If you are a Loan Originator you should definitely apply for Axia Home Loans, Cardinal Financial Company, Fairway Independent Mortgage, PrimeLending, A PlainsCapital Company and Wells Fargo
How many years of experience as a Loan Originator is needed in average to switch to another position?
avatar-of-creator
Isabella Holmes3 years ago
A Loan Originator typically moves on after 4 years
How likely is it for people working as a Loan Originator to switch companies still working as a Loan Originator?
avatar-of-creator
Sophie Hayes3 years ago
A Loan Originator is likely to work for multiple companies as a Loan Originator.
What jobs do people work in before becoming a Loan Originator?
avatar-of-creator
Liam Brown3 years ago
Typical prior positions for a Loan Originator are Loan Officer, Mortgage Loan Originator or Mortgage Loan Officer
Working as a Loan Originator what job titles should I consider to switch to?
avatar-of-creator
Isabella Holmes3 years ago
Working as Loan Originator consider Loan Officer, Mortgage Loan Originator or Branch Manager as a next step in your career.
Don't Miss Out on the Perfect Loan Originator job
Receive timely job alerts curated specifically for you, ensuring you never miss an opportunity to excel in your field.
No, I'm not interested
bell icon

Disclaimer

informationLENSA generates certain information provided on this website by compiling and analyzing publicly available data and data from employees/former employees. All company names are the registered trademarks of their original owners. The use of any trade name or trademark does not imply any association with the third-party company. None of the information provided is endorsed in any way by any of the companies mentioned. We do not guarantee the accuracy, currency, or suitability of this information (including regarding demographics or salary estimate) and you are responsible for how you use it. ALL INFORMATION IS PROVIDED “AS IS” AND “WITH ALL FAULTS”. We are not responsible for nor endorse third party content on our website. If you notice any inaccurate information or information you think is proprietary you can email us at [email protected]. See our Terms and Conditions and Community Guidelines for more information.