Construction Loan Officer sources and structures construction loans. Performs a due diligence review of potential borrowers, including risk and financial analysis. Being a Construction Loan Officer analyzes applicants' credit and financial status and obtains property appraisals to determine the feasibility of granting loans. Develops relationships with builders and developers to obtain referrals and future lending opportunities. Additionally, Construction Loan Officer structures construction loan terms and conditions according to policies. Approves loans within authorized limits or refers them to a loan committee for approval. May disburse loan proceeds at designated project mile. Requires a bachelor's degree. Typically reports to a manager. The Construction Loan Officer occasionally directed in several aspects of the work. Gaining exposure to some of the complex tasks within the job function. To be a Construction Loan Officer typically requires 2 -4 years of related experience. (Copyright 2024 Salary.com)
Position Summary
A Loan Officer is responsible for helping customers research loans and navigate the application, approval and closing process. Their duties include recommending commercial and personal loan options to clients and explaining their terms, determining risks for loaning to clients based on their credit and processing paperwork. They are specialists in evaluating the financial status of a loan applicant.
Essential Duties and Responsibilities
Minimum Qualifications (Knowledge, Skills, and Abilities)
· Typical skills needed in an office environment. These include computer skills, communication skills, as well as utilization of basic office equipment.
· Solid understanding of local, state, and federal loan regulations.
· In-depth knowledge of computers and banking software.
· Outstanding interpersonal and communication skills.
Job Type: Full-time
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Compensation package:
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Ability to Relocate:
Work Location: In person
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