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Career and Education Opportunities for Loan Officers in Iowa

Iowa has a population of 3,007,856, which has grown by 2.79% over the past 10 years. Nicknamed the "Hawkeye State," Iowa's capital and largest city is Des Moines.

Currently, 5,270 people work as loan officers in Iowa. This is expected to grow by 16% to 6,110 people by 2016. This is better than the nation as a whole, where employment opportunities for loan officers are expected to grow by about 10.1%. In general, loan officers evaluate, authorize, or recommend approval of commercial, real estate, or credit loans.

The income of a loan officer is about $25 per hour or $52,470 annually on average in Iowa. In the U.S. as a whole, their income is about $26 hourly or $54,700 yearly on average. Earnings for loan officers are better than earnings in the general category of Accounting and Auditing in Iowa and not quite as good as general Accounting and Auditing category earnings nationally. Jobs in this field include: corporate banking officer, mortgage underwriter, and mortgage loan officer.

In 2008, there were a total of 2,025,350 jobs in Iowa. The average annual income was $37,509 in 2008, up from $35,755 the preceding year. The unemployment rate in Iowa was 6.0% in 2009, which has grown by 1.6% since the previous year. Roughly 21.2% of Iowa residents have college degrees, which is lower than the national average.

The top industries in Iowa include machinery manufacturing, agriculture, construction, and mining machinery manufacturing, and grain milling. Notable tourist destinations include the Science Center of Iowa, the Historical Outfitters, and the Des Moines Art Center.

CITIES WITH Loan Officer OPPORTUNITIES IN Iowa


JOB DESCRIPTION: Loan Officer

Loan Officer video from the State of New Jersey Dept. of Labor and Workforce Development

In general, loan officers evaluate, authorize, or recommend approval of commercial, real estate, or credit loans. They also advise borrowers on financial status and methods of payments.

Every day, loan officers are expected to be able to articulate ideas and problems. They need to see details at a very fine level of focus. It is also important that they listen to and understand others in meetings.

Similar jobs with educational opportunities in Iowa include:

  • Accountant. Analyze financial information and prepare financial reports to determine or maintain records of assets, liabilities, profit and loss, tax liability, or other financial activities within an organization.
  • Assessor. Appraise real and personal property to determine its fair value. May assess taxes in accordance with prescribed schedules.
  • Auditor. Examine and analyze accounting records to determine financial status of establishment and prepare financial reports concerning operating procedures.
  • Budget Analyst. Examine budget estimates for completeness, accuracy, and conformance with procedures and regulations. Analyze budgeting and accounting reports for the purpose of maintaining expenditure controls.
  • Credit Analyst. Analyze current credit data and financial statements of individuals or firms to determine the degree of risk involved in extending credit or lending money. Prepare reports with this credit information for use in decision-making.
  • Financial Analyst. Conduct quantitative analyses of information affecting investment programs of public or private institutions.
  • Financial Examiner. Enforce or ensure compliance with laws and regulations governing financial and securities institutions and financial and real estate transactions. May examine, verify correctness of, or establish authenticity of records.
  • Insurance Underwriter. Review individual applications for insurance to evaluate degree of risk involved and determine acceptance of applications.
  • Loan Counselor. Provide guidance to prospective loan applicants who have problems qualifying for traditional loans. Guidance may include determining the best type of loan and explaining loan requirements or restrictions.
  • Personal Financial Planner. Advise clients on financial plans utilizing knowledge of tax and investment strategies, securities, and real estate. Duties include assessing clients' assets, liabilities, and financial objectives to establish investment strategies.
  • Real Estate Appraiser. Appraise real property to determine its value for purchase, sales, or loan purposes.
  • Tax Examiner. Determine tax liability or collect taxes from individuals or business firms according to prescribed laws and regulations.

LOCATION INFORMATION: Iowa

Iowa
Iowa photo by Bill Whittaker

Iowa has a population of 3,007,856, which has grown by 2.79% over the past decade. Nicknamed the "Hawkeye State," Iowa's capital and largest city is Des Moines. In 2008, there were a total of 2,025,350 jobs in Iowa. The average annual income was $37,509 in 2008, up from $35,755 in 2007. The unemployment rate in Iowa was 6.0% in 2009, which has grown by 1.6% since the previous year. Roughly 21.2% of Iowa residents have college degrees, which is lower than the national average.

The top industries in Iowa include machinery manufacturing, agriculture, construction, and mining machinery manufacturing, and grain milling. Notable tourist attractions include the Science Center of Iowa, the Italian, and the Hubbell Historical Center.