How to become a loan officer?

Verena

New member
I’ve been researching careers in finance and came across the role, but I’m not fully clear on how to become a loan officer or what the requirements are. Some sources say you just need experience and a license, while others mention formal education or training.
 
Typically,‍‌‍‍‌‍‌‍‍‌ the minimum requirements are a high school diploma, good communication skills, and a basic understanding of finance. Then you need to complete any necessary state licensing (for instance, the NMLS exam in many countries) and finally, you have to apply for entry-level positions at banks, credit unions, or lending companies where you can receive training while working and gain ‍‌‍‍‌‍‌‍‍‌experience.
 
Being a loan officer requires a high school diploma or degree in finance or business, experience in banking or customer service, pre-licensing education, the NMLS exam, and a state license. Then apply to be with banks, mortgage companies or credit unions.
 
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