A Diploma or GED
While some states may prefer you have at least a bachelor’s degree, it’s not a requirement. However, you’ll need proof of a high school diploma or GED. Even without a college degree, you can still make a significant amount of money as a loan originator.
Similarly one may ask, can you be a loan officer with an associate’s degree?
Most loan officers have a certificate or associate degree. The most common area of study is Finance.
Simply so, do loan officers need a college degree?
Loan officers typically need at least a bachelor’s degree, preferably in a business-related field such as finance, economics or accounting. Mortgage loan officers need a mortgage loan originator license, which requires passing an exam, at least 20 hours of coursework and background and credit checks.
Do you need a degree to be an MLO?
One piece of good news is that you don’t need a specific degree to become involved in this field. MLOs typically come from a background in business, banking, economics, or finance, but it isn’t required.
Becoming a loan officer in California is not as hard as it sounds when you follow the right steps and remain focused on your goals. You will soon embark on a rewarding journey that marks the start of an exciting career. Depending on your dedication, you can meet the prelicensing requirements within a few months.
Loan Officers made a median salary of $63,270 in 2019. The best-paid 25 percent made $92,960 that year, while the lowest-paid 25 percent made $44,840.