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Career

Loan Interviewers and Clerks

Typical education: Certificate or apprenticeshipModerate pressure

What they do

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.

Kinds of work

  • Conventional: Organizing information, following clear procedures and working with data and details.
  • Enterprising: Leading, persuading, selling and starting new projects or businesses.
  • Social: Helping, teaching, caring for and supporting other people.

Moderate pressure: How much pressure workers in this job report: deadlines, conflict, dealing with upset people, the cost of mistakes, responsibility for others' safety, competition and long hours. It varies a lot from one employer to the next. Source: U.S. Department of Labor worker surveys.

Pay, tasks and more

Salary

United States $50,020 Median per year · $24.05/hr Most earn $37,330–$69,770

BLS Occupational Employment and Wage Statistics, 2025.

What you might do

  • Review customer accounts to determine whether payments are made on time and that other loan terms are being followed.
  • Establish credit limits and grant extensions of credit on overdue accounts.
  • Prepare and type loan applications, closing documents, legal documents, letters, forms, government notices, and checks, using computers.
  • Verify and examine information and accuracy of loan application and closing documents.
  • Accept payment on accounts.
  • Schedule and conduct closings of mortgage transactions.

Job outlook

United States
2% fewer jobs by 2035, declining · about 10,500 openings a year

Openings include new jobs and jobs left by workers who retire or change careers. Projections: U.S. Bureau of Labor Statistics. "Bright Outlook": U.S. Department of Labor.

Where they work

  • Credit intermediation and related activities51.1%
  • Other nondepository credit intermediation26.6%
  • Direct insurance (except life, health, and medical) carriers5.5%
  • Management of companies and enterprises5.1%
  • Legal services3.1%

Share of all workers in this career. Source: U.S. Bureau of Labor Statistics, National Employment Matrix.

Experience before this job: 2 to 4 years

Some people start through an apprenticeship: paid training on the job, often with classes. Search apprenticeships on Apprenticeship.gov (opens in a new tab) ↗

Career path

How people usually get into this career, from school to their first job and beyond.

Typical education: Certificate or apprenticeshipExperience before this job: 2 to 4 years

Loan Interviewers and Clerks usually start with a high school diploma and a few years of related work, often in banking. Most people reach this job after roughly 2 to 4 years of customer-facing or clerical experience at a bank or lender.

  1. High school diploma

    4 years

    Finish high school with strong math, English, and business classes, since loan work relies on accurate numbers and clear writing.

  2. Bank Teller

    1-2 years

    Handling customer accounts and cash builds comfort with money, customer service, and bank procedures that loan work depends on.

  3. New Accounts Clerk

    1-2 years

    Opening accounts and checking applicant paperwork gives hands-on practice with forms, verification, and documentation, which is the core of this job.

  4. Loan Interviewer and Clerk

    Career

    You interview loan applicants, check their backgrounds and references, prepare loan papers, and pass completed files to the appraisal team.

Where it can lead

  1. Loan Officer

    2-4 years of experience first

    Loan Officers make lending decisions and manage relationships with borrowers, which usually requires a bachelor's degree and sales or lending skills on top of this experience.

  2. Credit Analyst

    1-2 years of experience first

    Credit Analysts study financial statements and risk in depth, often needing a bachelor's degree in finance, accounting, or a related field.

What you can do now

Ideas for high school and college students.

In high school

  • Take math and business or accounting classesStrong math and money skills help you read loan figures and understand how lending works.
  • Get a starter job with cash handling or customer serviceWorking as a cashier or retail associate teaches you to handle money, follow procedures, and talk with customers.
  • Join a business club or DECA-style student groupClubs like these build presentation, teamwork, and finance basics that show future employers you are serious about business.
  • Volunteer to help with forms or paperworkHelping a community group organize records builds the attention to detail that loan clerks need every day.
  • Practice clear writingLoan paperwork and reports must be easy to follow, so strong writing helps you stand out.

In college

  • Take accounting, finance, or business law coursesThese classes teach how loans, credit, and verification work, which gives you a head start on the job's core tasks.
  • Work a campus job in a bank or financial officeCampus or nearby bank jobs give direct experience with customers, paperwork, and banking procedures.
  • Pursue a banking or bookkeeping certificateA short certificate shows employers you have the practical skills this career's typical training calls for.
  • Apply for internships at banks or credit unionsAn internship lets you see how loan teams work and builds references for future applications.
  • Build customer service and interviewing skillsLoan interviewers spend much of their day asking questions and listening, so practice in service or tutoring roles pays off.

Tips for getting started

  • Look for entry jobs at banks, credit unions, or lenders, even as a teller, because this is how most people get inside the industry.
  • Practice careful, detail-focused work and clear written notes, since reviewing loan papers for completeness is a big part of the job.
  • Consider a certificate or short training in banking, bookkeeping, or lending, since this career's typical education is a certificate or apprenticeship.

Related jobs that often lead here

Education, experience and related careers: U.S. Department of Labor. The step-by-step path, where it can lead and what you can do now were written by AI as typical examples; many people take other ways.

College majors that lead here

Majors: U.S. Department of Education and BLS (CIP–SOC crosswalk). Earnings and debt: College Scorecard, typical across U.S. colleges.

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