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Loan Officers

If you like to work with finances, have good decision-making skills and can act as an effective salesperson, then working as a loan officer may be the right career choice for you.

As a military spouse, you are probably in charge of handling the finances for your household, especially while your spouse is deployed. You may want to consider taking advantage of the financial skills you use regularly and find a career in the banking industry. Becoming a loan officer typically requires you to have a bachelor’s degree in business or finance, and you can expect to receive on-the-job training to become familiar with your employer’s policies.

Education and Training

Finding the right business or finance program has never been easier. The MySECO website offers a variety of tools to help you select a program based on your personal preferences. College Scorecard allows you to filter through categories such as program/degree, location, size, campus setting and more to find a program near you. You can also use the Scholarship Finder to find funding to help pay for classes.

Several banking associations offer courses or certifications for loan officers and although not required, a certification shows dedication and expertise, and may enhance your employment opportunities. 

Finding employment

After meeting the education requirements to become a loan officer, it’s time to find a job in your occupation. One of the first places to look is the Military Spouse Employment Partnership Job Search. Hundreds of partner employers have made the commitment to recruit, hire, promote and retain military spouses in portable careers. You can also search your local state and national job bank.

You can find specialty fields in the loan officer occupation, which may make it easier to target your employment searches and make you a more qualified candidate. One specialty field you may be interested in is mortgage loan officer. This occupation requires completion of at least 20 hours of coursework and successful completion of the Mortgage Loan Originator examination to receive the MLO license, and you must pass a background and credit check.

Professional organizations and networking

Make the right connections through volunteering, doing an internship and proactively networking. Consider joining a professional organization in your chosen field to gain a better understanding of current industry practices and policies in the banking industry. Professional organizations are great ways to continue your education through workshops and conferences, which will add to your transferable skill set as you move. Networking with other professionals in your industry will give you an edge in meeting the right people who may have the connections you need to obtain an interview at your new location. Read The Value of Professional Associations for more information on how becoming a member can help enhance your career.

Next steps

To explore additional information related to starting a career as a loan officer, check out the Research Occupations tool on MySECO. Enter the keywords 'Loan Officers' to learn more about the occupational overview for your specialty field.

If you need additional information on obtaining the proper license or certification as part of your specialty field, visit the Advantages of Licensure article in the Education, Training and Licensing lifecycle stage of MySECO. Be sure to visit the Department of Labor Military Spouse License Recognition Map for up-to-date legislation and licensure information for your specific state.

You can also speak with a SECO career coach by calling Military OneSource at 800-342-9647 to discuss any questions or concerns you may have. For additional guidance, use the Live Chat feature on the MySECO website. 

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