The average salary for a loan officer in the United States is around $62,050 per year.
Avg Salary
Loan officers earn an average yearly salary of $62,050.
Wages typically start from $32,820 and go up to $117,311.
6% above national average Updated in 2023
Loan officer earnings by seniority
90th percentile
Top-level loan officer earnings begin at:
$56.40 per hour
$117,311 per year
75th percentile
Senior-level loan officer earnings begin at:
$41.71 per hour
$86,759 per year
50th percentile
Mid-level loan officer earnings begin at:
$29.83 per hour
$62,050 per year
25th percentile
Junior-level loan officer earnings begin at:
$21.34 per hour
$44,378 per year
10th percentile
Starting level loan officer earnings begin at:
$15.78 per hour
$32,820 per year
Approximate values based on highest and lowest earning segments.
Loan officer salary by state
| State Name | Average Salary |
|---|---|
| New York | $96,430 |
| District of Columbia | $81,170 |
| Massachusetts | $79,570 |
| New Jersey | $78,870 |
| Minnesota | $78,660 |
| Rhode Island | $78,640 |
| Nevada | $78,470 |
| Oregon | $78,300 |
| North Dakota | $77,060 |
| Colorado | $76,920 |
| Kansas | $76,920 |
| New Hampshire | $76,920 |
| Michigan | $76,840 |
| North Carolina | $76,840 |
| Virginia | $76,710 |
| Nebraska | $75,700 |
| Wisconsin | $74,890 |
| Missouri | $74,520 |
| Arkansas | $74,490 |
| Pennsylvania | $65,810 |
| California | $64,390 |
| South Dakota | $63,560 |
| Hawaii | $63,460 |
| Montana | $63,270 |
| Maine | $63,200 |
| Illinois | $63,170 |
| Iowa | $62,650 |
| Maryland | $62,610 |
| Washington | $62,530 |
| Kentucky | $62,320 |
| Ohio | $62,320 |
| Wyoming | $62,160 |
| Georgia | $62,100 |
| Connecticut | $61,850 |
| New Mexico | $61,170 |
| Texas | $61,120 |
| Tennessee | $60,800 |
| Indiana | $60,550 |
| Delaware | $60,140 |
| Florida | $60,110 |
| Oklahoma | $60,110 |
| Vermont | $60,110 |
| Alabama | $53,410 |
| South Carolina | $53,410 |
| Arizona | $52,530 |
| Idaho | $49,920 |
| Louisiana | $49,780 |
| Alaska | $49,620 |
| Utah | $48,300 |
| West Virginia | $48,000 |
| Mississippi | $44,480 |
| Guam | $38,630 |
| Puerto Rico | $30,080 |
How do loan officer salaries compare to similar careers?
Loan officers earn about the same as related careers in the United States. On average, they make less than data analysts but more than insurance appraisers.
| Career | Median Salary |
|---|---|
| Data analyst salary | $70K |
| Treasurer salary | $64K |
| Credit analyst salary | $67K |
| Entrepreneur salary | $50K |
| Bank manager salary | $62K |
| Loan officer salary | $62K |
| Budget analyst salary | $67K |
| Cost estimator salary | $62K |
| Fundraiser salary | $61K |
| Insurance appraiser salary | $61K |
Source: CareerExplorer (Aggregated)