How To Become A Loan Representative: What It Is and Career Path

What is a loan representative and how to become one

Updated January 8, 2025

2 min read

There is more than meets the eye when it comes to being a loan representative. For example, did you know that they make an average of $16.36 an hour? That's $34,028 a year! Between 2018 and 2028, the career is expected to grow -3% and produce -38,500 job opportunities across the U.S.

ScoreLoan RepresentativeUS Average

Salary

2.7

Avg. Salary $34,028

Avg. Salary $59,228

Stability Level

8.6

Growth Rate -3%

Growth Rate 0.3%

Diversity

8.2

Race

American Indian and Alaska Native 0.40%

Asian 6.28%

Black or African American 12.11%

Hispanic or Latino 16.63%

Unknown 4.20%

White 60.37%

Gender

female 65.09%

male 34.91%

Age - 41

Race

American Indian and Alaska Native 3.00%

Asian 7.00%

Black or African American 14.00%

Hispanic or Latino 19.00%

White 57.00%

Gender

female 47.00%

male 53.00%

Age - 41

Stress Level

8.6

Stress level is very high

7.1 - high

Complexity Level

6.9

Complexity Level is challenging

7 - challenging

Work Life Balance

5.2

Work Life balance is fair

6.4 - fair

Key steps to become a loan representative

Explore loan representative education requirements

Most common loan representative degrees

Bachelor's

47.0 %

Associate

21.1 %

High School Diploma

20.1 %

Start to develop specific loan representative skills

Skills	Percentages
Customer Service	12.63%
Outbound Calls	6.46%
Consumer Loans	6.04%
Corporate Financial Statements	5.18%
Payment Arrangements	4.53%

Complete relevant loan representative training and internships

Accountants spend an average of 1-2 years on post-employment, on-the-job training. New loan representatives learn the skills and techniques required for their job and employer during this time. The chart below shows how long it takes to gain competency as a loan representative based on U.S. Bureau of Labor Statistics data and data from real loan representative resumes.

Research loan representative duties and responsibilities

Manage a multifacete commercial real estate investment firm.
Originate loans for purchase, refinance, and construction, including FHA and VA loans.
Verify that new loans and FHA loans board correctly in conjunction with state laws after closing.
Respond to mortgage lenders and taxing agency jurisdictions by utilizing effective verbal and written communication in a prompt and accurate manner.

Prepare your loan representative resume

When your background is strong enough, you can start writing your loan representative resume.

You can use Zippia's AI resume builder to make the resume writing process easier while also making sure that you include key information that hiring managers expect to see on a loan representative resume. You'll find resume tips and examples of skills, responsibilities, and summaries, all provided by Zippi, your career sidekick.

Choose From 10+ Customizable Loan Representative Resume templates

Build a professional Loan Representative resume in minutes. Browse through our resume examples to identify the best way to word your resume. Then choose from 10+ resume templates to create your Loan Representative resume.