How to become a loan officer

Loan officers help pair homebuyers with the right home loans for their situations. They’re expected to know the basic guidelines for dozens of loan programs and run scenarios to find the most comfortable fit for borrowers. Loan officers can provide verbal pre-qualifications and give homebuyers ballpark estimates on how much money they can borrow. They then facilitate the loan application process, including collecting and reviewing the financial documents needed to issue pre-approval letters that show sellers how much borrowers can afford.

Beyond overseeing the home application process, they also facilitate the loan closing process. This involves coordinating with processing, underwriting and funding. During closing, they work closely with other mortgage professionals such as real estate agents, title companies and escrow officers to ensure the loan closes on time. Most importantly, loan officers serve as home financing advisors, guiding clients through the financing process, keeping real estate agents informed on the next steps, and even checking in after closing to ensure their customers are still comfortable with their loans.


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