Skills You Need To Be A Loan Officer
Posted on: 28 October 2018
You want to change up your career, and you've always loved finances and real estate. You like working with people but your current customer service job isn't challenging enough and doesn't pay you the wage you desire or need to raise your family and pay your bills.
Why not consider a career as a loan officer? A loan officer is an individual who helps people and companies secure loans for personal or mortgage purposes. This career can be challenging and fulfilling and has openings in many sectors. You can work for a real estate company, bank, or other lending institution. Learn what training and skills you need to be a great loan officer so you can weed out the competition when applying for this type of job.
Financial experience
Have you handled money before? This includes helping manage books at another job or handling money on a regular basis. A strong understanding of current economics is helpful for a job as a loan officer.
People skills
When working with the public, particularly when personal finances and information is involved, you have to keep a clear and friendly head. You will be working with a variety of people from all areas of financial backgrounds, from the starter home couple to strong business people in your community. Your people skills should be based on being patient, friendly, non-judgemental, and level-headed.
Real estate background
It's helpful if you have some background in real estate. If you've purchased a home in the past, you know how hard it can be to get the lending you need to secure home ownership. There's lots of paperwork involved and finances have to be calculated just right. Fluctuating mortgage rates and different types of loans also come into play. A real estate background makes getting a job as a loan officer much easier.
Organizational skills
Can you multitask successfully? A mortgage loan officer or loan officer in any field must be able to take on several accounts at once and file paperwork correctly and on time. One small mistake can cost a client a loan or create an expensive fallback.
If you aren't daunted by tight deadlines, ample amounts of paperwork, and the demands of many clients at once, then a career as a loan officer can work well for you. Consider applying at several types of entry level loan jobs to help you get familiar with this type of work. Contact a service, like Mortgage Jobs Now, for more help.
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