Galfenol is a magnetostrictive material which can be safely operated in tension, compression and shear. The coupled modeling framework of a loaded Galfenol actuator was studied. Field and stress dependent hysteresis and saturation were modeled with the discrete energy-averaged model. The dynamic model was developed by coupling the structural model with the energy-averaged model. Coupled governing equations were obtained by employing the virtual work principle and the model was discretized with Galerkin method. Simulation results showed that the proposed model had proper accuracy to predict the response of the beam actuator. In order to analyze the characteristics when the actuator was loaded with different forces, the output characterization of the loaded Galfenol actuator was studied by using different coverage ratios of the Galfenol cantilever. Calculation results were compared with Terfenol-D and the piezoelectric ceramics. It was shown that the load capacity and the internal tension of the actuator were increased by increasing the coverage ratio of the Galfenol cantilever. With a constant load, the actuator can no longer output positive displacement when the coverage ratio was relatively small. When Galfenol was loaded with tension, simulation results showed that the internal stress distribution exceeded the yield strength of both Terfenol-D and piezoelectric ceramics. The mechanical strength of Galfenol alloy ensured the material safety when the tension was changed due to the increase of the external loads.