What is the demographic makeup of loan officers in the mortgage industry? How many loan officers are there anyway? This article presents 10 surprising facts about loan officers that you might not have heard before.
Key Takeaways
- Men make up the majority of loan officers, but there are plenty of women within the field.
- There are over 200,000 loan officers currently employed within the US, and this number is only expected to grow.
- The average loan officer is in their 40s.
- These loan officer statistics might surprise you!
How many women loan officers are there?
Although the majority of loan officers are men, there is a close to even split between men and women in the industry. We work with some of these badass men and women on a daily basis in our private mastermind group of loan officers and loan originators from all over the country.
How many loan officers are there in the US?
There are approximately 239,324 loan officers and the number of loan officers in the US is expected to steadily increase over the next decade.
Take a look at the numbers below:
How old is the average loan officer?
The average loan officer is 44 years old, but we’ve seen loan officers young and old (or “seasoned”) crush it in every market.
Here’s the continuum:
What is the most common language among loan officers?
The most common language among loan officers is Spanish, followed by French and Portugese.
How much do loan officer women make compared to loan officer men?
In 2021, women loan officers made $0.87 per every $1.00 that loan officer men earned.
Where are loan officers most in demand?
Loan officers are most in demand in Charlotte, North Carolina, where loan officers earn an average salary of $109,126 per year with opportunities for bonuses, commission, tips, and profit sharing.
What ethnicity are most loan officers?
The most common ethnicity of loan officers is Caucasian or White, followed by Hispanic or Latino, African American or Black, and Asian.
What is the average education level of loan officers?
The average education level of loan officers is a bachelor’s degree, with 61% of loan officers having attended a 4-year college or university. Approximately 17% of loan officers have an associate degree, while 6% have earned a master’s.
Do loan officers tend to work at public or private companies?
Over 3/4s of loan officers are employed at private companies rather than public companies.
What is the best place for loan officers to live?
New Mexico has consistently ranked as one of the best places for loan officers to live.
Read our blog article about the top 10 best places for new loan officers to get licensed.
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