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A loan payment invoice is a form that allows a borrower to make a payment on a current loan. The invoice should detail the balance of the loan after payment is made and include the initial principal loan amount. Use this invoice every time a payment is made on the loan.

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What is a Loan Payment?

A loan payment is an amount needed to pay off the current balance owed on a loan, which is usually done on a monthly basis until the full amount of the loan is paid off.  A loan payment is a calculated portion of the principal loan amount that includes interest. Interest is how the lender makes money by lending the borrower a loan. When making a loan payment, either by check or online, there needs to be proof showing the loan payment as paid which is where a loan payment invoice is helpful. The borrower should be notified to keep a record of all the loan payment invoices until the loan is settled. Use a loan payment invoice when making a payment on any of the following loan types:

  • Car (auto) Loan Payment
  • Student Loan Payment
  • FHA Loan Payment
  • Home Loan Payment
  • Personal Loan Payment

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Loan Officer Salary

A loan officer is a person that works for a financial institution that’s in charge of issuing loans to borrowers. As of 2019, there are estimated to be about 305,000 people working as loan officers in the United States.

Salary: $76,270

Hourly Rate: $36.67

(Source: Bureau of Labor Statistics)