What is a Mortgage Loan Officer?

A mortgage loan officer is someone who works at a lending institution and is responsible for approving home loan applications. The loan officer will approve a loan based on their comprehensive knowledge of the qualifications an applicant must have to obtain an approval.


Creditworthiness is one of the major factors a loan officer will use to approve a loan. If approved, the loan officer will then assess an applicant’s financial situation and decide how much money can be borrowed. The officer will also determine what interest rate will best meet the borrower’s needs.


This is why an officer should also be an expert in the loan products their lending institution has to offer. This information is invaluable to applicants who have a unique home buying situation, and need a specific loan product to achieve their financial goal. Sales skills are also vital for loan officers to have since other banks are competing for the same business. Most loan officers must solicit consumers to earn a pay check since they are paid 100% through commissions. Loan officers can take on as many loans as they can handle and will work long hours to complete their workload. When interest rates are at their lowest, there is usually a surge in loan applications, creating more business for the loan officer.

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