Day in the life
A Day in the Life of a Loan Officer
What loan officers actually do from the start of a shift to the end: the tasks, tools, schedule and realities of the job.
Review rate sheets and pipeline loans in the loan origination system. From there, the day usually includes meet with borrowers to understand their goals, review credit, income, assets and debts, and explain loan options, rates and costs. Most work full-time, often including evenings and weekends to meet clients, especially in mortgage lending.
Hour by hour: a typical shift
No two days are identical, but this timeline reflects a realistic day for a loan officer working full time.
- Review rate sheets and pipeline loans in the loan origination system.
- Meet first-time homebuyers and review their credit and budget.
- Issue a preapproval letter for a buyer making an offer.
- Have lunch with a real estate agent who refers clients.
- Respond to underwriting conditions on a loan in process.
- Lock a rate for a borrower and send disclosures.
- Return calls and plan follow-ups.
Where loan officers work
Loan officers work in banks, credit unions, mortgage companies and from home, meeting clients in offices or virtually. The work is mostly at a computer and on the phone.
Hours and schedule
Most work full-time, often including evenings and weekends to meet clients, especially in mortgage lending.
Tasks you’ll do most often
- Meet with borrowers to understand their goals
- Review credit, income, assets and debts
- Explain loan options, rates and costs
- Take and submit loan applications
- Work with processors and underwriters
- Build referral relationships
- Keep up with lending regulations
Tools you’ll use every day
- Loan origination systems such as Encompass
- Credit reporting tools
- Pricing engines
- CRM software
- Spreadsheets
- Video meeting tools
The best and hardest parts of the job
What people like
- High earning potential with commission
- Help people achieve big goals
- Mortgage licensing is fast
- Remote and flexible options
What’s hard
- Income can swing with interest rates
- Sales pressure
- Strict regulations
- Evening and weekend work
You’ll likely thrive if…
- I like helping people with big decisions
- I’m comfortable with numbers and credit
- I enjoy building relationships
- I’m motivated by commission
- I can explain complex things simply
- I want a career I can start quickly
Not sure? Take the free Loan Officer fit quiz or the Career Match Quiz.
Staying safe on the job
- Protect borrower data and follow privacy laws
- Follow fair lending and anti-discrimination rules
- Watch for fraud and identity theft
- Set work-life boundaries during busy markets