Loan Interviewers and Clerks
Interview loan applicants to elicit information; investigate applicants' backgrounds and verify references; prepare loan request papers; and forward findings, reports, and documents to appraisal department. Review loan papers to ensure completeness, and complete transactions between loan establishment, borrowers, and sellers upon approval of loan.
Loan Interviewers and Clerks earn a median of $24.05/hr — about $50,000 a year. The lowest-paid 10% earn $17.95/hr; the top 10% earn $33.55/hr. (Annual figures are approximate: hourly × 2,080.)
What you'd actually do
- Verify and examine information and accuracy of loan application and closing documents.
- Assemble and compile documents for loan closings, such as title abstracts, insurance forms, loan forms, and tax receipts.
- Record applications for loan and credit, loan information, and disbursements of funds, using computers.
- Submit loan applications with recommendation for underwriting approval.
- Contact customers by mail, telephone, or in person concerning acceptance or rejection of applications.
- File and maintain loan records.
How you get there
Typical entry-level education: High school diploma. Overall preparation: medium preparation (Job Zone 3 of 5).
The feel of the work
The work is mostly indoors; you're around people constantly; time pressure is a real part of the job; precision matters — small details carry weight. (Compared against the other 818 careers in the guide.)
Working for yourself
About 0.9% of loan interviewers and clerks are self-employed.
Who it tends to fit
This work tends to fit people who are organized and detail-focused, take-charge and people-focused.
Work a simulated shift in this job — freeMake the real decisions this job involves, then see what your choices say about you.Related careers
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Quick questions
- How much does a loan interviewers and clerk make?
- The median pay is $24.05 per hour — roughly $50,000 a year, with the real range running from about $17.95/hr (10th percentile) to $33.55/hr (90th percentile). Source: U.S. Bureau of Labor Statistics.
- Do you need a degree to be a loan interviewers and clerk?
- The typical entry-level education is: High school diploma. Overall preparation level: medium preparation (Job Zone 3 of 5).
- What does a loan interviewers and clerk actually do all day?
- Verify and examine information and accuracy of loan application and closing documents. Assemble and compile documents for loan closings, such as title abstracts, insurance forms, loan forms, and tax receipts. Record applications for loan and credit, loan information, and disbursements of funds, using computers.
Trailhead is operated by FLEXVermont LLC. It is intended for high-school students age 13 and older, and the educators and families who support them, and is not directed to children under 13. Trailhead is provided for general informational and educational purposes only. It does not offer professional, financial, or career advice, and its wage figures and pathways are estimates that may not fit your situation — they should not be relied on as the sole basis for any decision.