Loan Advisor Training and Jobs
Schools and Degrees
Many colleges and universities offer programs in relevant subjects such as finance, economics and business.
Job Overview
Loan advisors assist people who have failed to qualify for traditional loans. Loan advisors recommend particular types of loans to client and review the requirements and restrictions of loans with clients. Loan counselors may also help their clients with personal finance issues. In some companies, loan counselors also act as a salesperson and seek clients.
Job Requirements
Employers at banks and credit agencies typically prefer applicants who have at least a bachelor's degree in finance, economics or business and have a few years of finance experience. For some jobs sales experience is important. In addition, loan counselors may need to meet the requirements of a professional credit association or pass state certification exams.
Nature of Work
- Analyze applicant's financial situation, credit, and property evaluations in order to determine the feasibility of providing a loan
- Ensure loan agreements are complete and accurate
- Assist clients create a debt consolidation strategy
- Produce the required legal paperwork to finish the loan procedure
Career Videos
Loan Advisors by Metropolitan Area (city and its surroundings)
In the table below, a Job Density near 0% means the area has an average number of people in this occupation, for its population. A higher or lower Job Density (e.g., +22% or -45%) tells you there are that many more or fewer workers of that type there than in the average US metro area. So, the higher the number, the more common the occupation.
Alabama
| City and Area | Median Salary | Employees | Job Density |
|---|---|---|---|
| Birmingham | $35,000 | 80 | -10% |
| Montgomery | $34,000 | 50 | +76% |
Arizona
| City and Area | Median Salary | Employees | Job Density |
|---|---|---|---|
| Phoenix | $38,000 | 1,100 | +243% |
California
| City and Area | Median Salary | Employees | Job Density |
|---|---|---|---|
| Bakersfield | $43,000 | 40 | -13% |
| Fresno | $34,000 | 50 | -12% |
| Los Angeles | $46,000 | 910 | +23% |
| Oakland | $43,000 | 200 | +10% |
| Oxnard | $42,000 | 30 | -43% |
| Riverside | $41,000 | 220 | +1% |
| Sacramento | $50,000 | 90 | -43% |
| San Diego | $42,000 | 300 | +26% |
| San Francisco | $43,000 | 340 | +89% |
| Santa Ana | $46,000 | 540 | +104% |
| Stockton | $43,000 | 60 | +63% |
| Visalia | $40,000 | 30 | +30% |
Colorado
| City and Area | Median Salary | Employees | Job Density |
|---|---|---|---|
| Colorado Springs | 30 | -33% |
Connecticut
| City and Area | Median Salary | Employees | Job Density |
|---|---|---|---|
| Hartford | $43,000 | 60 | -42% |
| New Haven | 110 | +127% |
Delaware
| City and Area | Median Salary | Employees | Job Density |
|---|---|---|---|
| Wilmington | $39,000 | 170 | +192% |
District of Columbia
| City and Area | Median Salary | Employees | Job Density |
|---|---|---|---|
| Washington | $44,000 | 300 | -32% |
Florida
| City and Area | Median Salary | Employees | Job Density |
|---|---|---|---|
| Fort Lauderdale | $37,000 | 240 | +90% |
| Gainesville | $40,000 | 40 | +93% |
| Jacksonville | $47,000 | 150 | +38% |
| Miami | $44,000 | 260 | +46% |
| Orlando | $40,000 | 200 | +8% |
| Palm Bay | $35,000 | 90 | +160% |
| Tallahassee | $34,000 | 40 | +43% |
| Tampa | $41,000 | 430 | +107% |
| West Palm Beach | $42,000 | 230 | +146% |
Georgia
| City and Area | Median Salary | Employees | Job Density |
|---|---|---|---|
| Atlanta | $41,000 | 520 | +24% |
| Gainesville | $59,000 | 30 | +163% |
| Savannah | $35,000 | 30 | +16% |
Hawaii
| City and Area | Median Salary | Employees | Job Density |
|---|---|---|---|
| Honolulu | $47,000 | 60 | -24% |
Idaho
| City and Area | Median Salary | Employees | Job Density |
|---|---|---|---|
| Boise | $41,000 | 150 | +224% |
Illinois
| City and Area | Median Salary | Employees | Job Density |
|---|---|---|---|
| Chicago | $46,000 | 930 | +36% |
Indiana
| City and Area | Median Salary | Employees | Job Density |
|---|---|---|---|
| Fort Wayne | $39,000 | 60 | +67% |
| Indianapolis | $39,000 | 230 | +42% |
Iowa
| City and Area | Median Salary | Employees | Job Density |
|---|---|---|---|
| Des Moines | $40,000 | 170 | +189% |
| Waterloo | $29,000 | 40 | +180% |
Kansas
| City and Area | Median Salary | Employees | Job Density |
|---|---|---|---|
| Topeka | $30,000 | 40 | +114% |
| Wichita | $33,000 | 60 | +17% |
Kentucky
| City and Area | Median Salary | Employees | Job Density |
|---|---|---|---|
| Lexington | $37,000 | 40 | -6% |
| Louisville | $42,000 | 90 | -18% |
Louisiana
| City and Area | Median Salary | Employees | Job Density |
|---|---|---|---|
| New Orleans | $40,000 | 100 | +5% |
Maryland
| City and Area | Median Salary | Employees | Job Density |
|---|---|---|---|
| Baltimore | $58,000 | 520 | +118% |
| Bethesda | 100 | -4% |
Massachusetts
| City and Area | Median Salary | Employees | Job Density |
|---|---|---|---|
| Boston | $52,000 | 330 | +4% |
| Springfield | $43,000 | 80 | +51% |
| Worcester | $46,000 | 30 | -33% |
Michigan
| City and Area | Median Salary | Employees | Job Density |
|---|---|---|---|
| Detroit | $45,000 | 60 | -51% |
| Grand Rapids | $39,000 | 130 | +92% |
| Warren | $43,000 | 430 | +119% |
Minnesota
| City and Area | Median Salary | Employees | Job Density |
|---|---|---|---|
| Minneapolis | $39,000 | 270 | -17% |
Mississippi
| City and Area | Median Salary | Employees | Job Density |
|---|---|---|---|
| Jackson | $48,000 | 70 | +56% |
Missouri
| City and Area | Median Salary | Employees | Job Density |
|---|---|---|---|
| Kansas City | $42,000 | 80 | -57% |
| Springfield | $33,000 | 40 | +20% |
| St Louis | $38,000 | 230 | -5% |
Nebraska
| City and Area | Median Salary | Employees | Job Density |
|---|---|---|---|
| Omaha | $35,000 | 110 | +30% |
Nevada
| City and Area | Median Salary | Employees | Job Density |
|---|---|---|---|
| Las Vegas | $41,000 | 90 | -42% |
New Hampshire
| City and Area | Median Salary | Employees | Job Density |
|---|---|---|---|
| Manchester | $48,000 | 40 | +128% |
New Jersey
| City and Area | Median Salary | Employees | Job Density |
|---|---|---|---|
| Edison | $41,000 | 200 | +7% |
| Newark | $44,000 | 90 | -50% |
| Trenton | $52,000 | 60 | +49% |
New York
| City and Area | Median Salary | Employees | Job Density |
|---|---|---|---|
| Albany | $45,000 | 70 | -14% |
| Buffalo | $41,000 | 90 | -10% |
| Nassau | $52,000 | 130 | -44% |
| New York | $48,000 | 840 | -12% |
| Rochester | $47,000 | 120 | +31% |
| Syracuse | $61,000 | 50 | -11% |
North Carolina
| City and Area | Median Salary | Employees | Job Density |
|---|---|---|---|
| Charlotte | $37,000 | 130 | -16% |
| Greensboro | $39,000 | 40 | -37% |
| Winston Salem | $35,000 | 50 | +35% |
North Dakota
| City and Area | Median Salary | Employees | Job Density |
|---|---|---|---|
| Fargo | $37,000 | 40 | +92% |
Ohio
| City and Area | Median Salary | Employees | Job Density |
|---|---|---|---|
| Akron | $42,000 | 100 | +74% |
| Cincinnati | $37,000 | 330 | +79% |
| Cleveland | $39,000 | 220 | +18% |
| Columbus | $40,000 | 280 | +67% |
| Dayton | $42,000 | 110 | +60% |
| Toledo | $45,000 | 60 | +14% |
| Youngstown | $44,000 | 30 | -25% |
Oklahoma
| City and Area | Median Salary | Employees | Job Density |
|---|---|---|---|
| Oklahoma City | $33,000 | 510 | +388% |
| Tulsa | $34,000 | 190 | +145% |
Oregon
| City and Area | Median Salary | Employees | Job Density |
|---|---|---|---|
| Portland | $40,000 | 300 | +61% |
Pennsylvania
| City and Area | Median Salary | Employees | Job Density |
|---|---|---|---|
| Philadelphia | $45,000 | 440 | +26% |
| Pittsburgh | $38,000 | 180 | -14% |
| Scranton | $35,000 | 70 | +51% |
Rhode Island
| City and Area | Median Salary | Employees | Job Density |
|---|---|---|---|
| Providence | $44,000 | 80 | -21% |
South Carolina
| City and Area | Median Salary | Employees | Job Density |
|---|---|---|---|
| Charleston | $38,000 | 100 | +95% |
| Columbia | $42,000 | 190 | +202% |
Tennessee
| City and Area | Median Salary | Employees | Job Density |
|---|---|---|---|
| Knoxville | $27,000 | 60 | +1% |
| Memphis | $35,000 | 80 | -28% |
| Nashville | $32,000 | 90 | -33% |
Texas
| City and Area | Median Salary | Employees | Job Density |
|---|---|---|---|
| Amarillo | $37,000 | 60 | +232% |
| Brownsville | $38,000 | 50 | +123% |
| College Station | $39,000 | 100 | +546% |
| El Paso | $36,000 | 40 | -18% |
| Fort Worth | $44,000 | 350 | +123% |
| Houston | $34,000 | 820 | +71% |
| Lubbock | $34,000 | 180 | +733% |
| Mcallen | $32,000 | 50 | +23% |
| San Antonio | $44,000 | 510 | +222% |
| Waco | $37,000 | 40 | +137% |
Utah
| City and Area | Median Salary | Employees | Job Density |
|---|---|---|---|
| Logan | $48,000 | 30 | +302% |
| Salt Lake City | $38,000 | 120 | +9% |
Vermont
| City and Area | Median Salary | Employees | Job Density |
|---|---|---|---|
| Burlington | $34,000 | 30 | +58% |
Virginia
| City and Area | Median Salary | Employees | Job Density |
|---|---|---|---|
| Charlottesville | $41,000 | 40 | +177% |
| Richmond | $42,000 | 130 | +17% |
| Virginia Beach | $36,000 | 200 | +45% |
Washington
| City and Area | Median Salary | Employees | Job Density |
|---|---|---|---|
| Seattle | $38,000 | 280 | +10% |
| Spokane | $37,000 | 50 | +39% |
| Tacoma | $36,000 | 80 | +70% |
West Virginia
| City and Area | Median Salary | Employees | Job Density |
|---|---|---|---|
| Charleston | $45,000 | 40 | +59% |
Wisconsin
| City and Area | Median Salary | Employees | Job Density |
|---|---|---|---|
| Milwaukee | $39,000 | 170 | +13% |
*FOOTNOTES: Job Facts salary and numbers data is based on US Department of Labor Statistics data for 2011. Other data on page may be from earlier years. Typical salary is given as median salary, where 50% in the job make more and 50% less. Salary range is Job Hunt's estimates of typical starting salary as being at the 10th percentile of reported pay and typical top end salary, for the most senior workers, as being at the 90th. Job openings is an estimate of new jobs every year due to growth plus those leaving the field. Where NA is given data is not available. Suggested studies is based on Job Hunt research, suggesting a minimum degree level that is judged to offer the best opportunities for entry-level employment. This Loan Counselors schools and career page was originally researched by CityTownInfo.com.