Loan Officer salary in the U.S.
Loan Officers in the U.S. earn a median of $76,690 a year ($36.87 an hour), based on BLS data for 274,330 workers.
Pay ranges from $39,430 for the lowest-paid 10% to $153,180 for the top 10%. The average (mean) salary is $87,790, above the median because a few high earners pull it up.
Pay range for loan officers in the U.S.
| Pay level | Yearly | Hourly |
|---|---|---|
| 10th percentile (entry level) | $39,430 | $18.96 |
| 25th percentile | $52,730 | $25.35 |
| Median | $76,690 | $36.87 |
| 75th percentile | $104,080 | $50.04 |
| 90th percentile (top earners) | $153,180 | $73.65 |
| Average (mean) | $87,790 | $42.21 |
Half of loan officers earn more than the median and half earn less. Percentiles show the spread: 10% earn less than the 10th percentile, and 10% earn more than the 90th.
Median paycheck, before taxes
| Pay period | Amount |
|---|---|
| Monthly | $6,390.83 |
| Semi-monthly (24 a year) | $3,195.42 |
| Biweekly (26 a year) | $2,949.62 |
| Weekly | $1,474.81 |
| Hourly | $36.87 |
Based on a full-time year of 2,080 hours. Convert any amount with the hourly to salary converter.
Loan Officer salary by state
| State | Median salary | Workers |
|---|---|---|
| Massachusetts | $101,600 | 4,470 |
| Connecticut | $95,730 | 2,220 |
| New York | $95,710 | 10,840 |
| Minnesota | $95,170 | 6,430 |
| Colorado | $94,520 | 3,230 |
| Oregon | $94,440 | 4,220 |
| New Jersey | $92,920 | 6,200 |
| District of Columbia | $92,890 | 370 |
| Vermont | $88,710 | 350 |
| Kansas | $86,970 | 3,540 |
| North Dakota | $84,650 | 1,370 |
| Iowa | $83,670 | 2,840 |
| Delaware | $83,130 | 1,420 |
| Maine | $81,900 | 1,060 |
| California | $81,770 | 25,790 |
| New Hampshire | $80,660 | 1,120 |
| Washington | $80,120 | 6,040 |
| South Dakota | $79,920 | 1,820 |
| Nebraska | $79,840 | 2,710 |
| Wyoming | $79,620 | 740 |
| Illinois | $79,150 | 10,890 |
| Virginia | $78,320 | 8,790 |
| Wisconsin | $78,290 | 4,940 |
| Rhode Island | $77,250 | 1,290 |
| Ohio | $76,370 | 9,880 |
| North Carolina | $75,920 | 10,700 |
| Michigan | $74,470 | 11,340 |
| Missouri | $73,660 | 7,050 |
| Maryland | $73,580 | 3,850 |
| Oklahoma | $72,990 | 4,100 |
| Indiana | $72,960 | 4,790 |
| Alaska | $72,800 | 490 |
| Montana | $71,570 | 1,180 |
| Florida | $71,090 | 18,830 |
| Idaho | $71,070 | 2,030 |
| Arkansas | $70,260 | 2,610 |
| Pennsylvania | $69,300 | 8,140 |
| Georgia | $68,490 | 9,540 |
| Alabama | $66,710 | 5,050 |
| Texas | $66,370 | 21,200 |
| Nevada | $64,500 | 2,580 |
| Hawaii | $63,740 | 980 |
| South Carolina | $63,220 | 4,140 |
| Tennessee | $62,800 | 6,510 |
| New Mexico | $62,610 | 1,140 |
| Arizona | $62,160 | 10,020 |
| Kentucky | $62,090 | 3,940 |
| Louisiana | $61,110 | 2,810 |
| Mississippi | $60,260 | 3,450 |
| Utah | $59,440 | 3,990 |
| West Virginia | $57,580 | 1,290 |
| Guam | $45,180 | 60 |
| Virgin Islands | $44,780 | 50 |
| Puerto Rico | $35,730 | 2,360 |
Best-paying metro areas for loan officers
| Metro area | Median salary | Workers |
|---|---|---|
| Enid, OK | $104,990 | 40 |
| Bridgeport-Stamford-Danbury, CT | $103,850 | 560 |
| Boston-Cambridge-Newton, MA-NH | $103,400 | 3,420 |
| San Francisco-Oakland-Fremont, CA | $103,000 | 3,330 |
| Minneapolis-St. Paul-Bloomington, MN-WI | $102,200 | 3,910 |
| New York-Newark-Jersey City, NY-NJ | $101,570 | 10,350 |
| Des Moines-West Des Moines, IA | $101,190 | 650 |
| Lawrence, KS | $100,480 | 80 |
| Denver-Aurora-Centennial, CO | $100,130 | 1,970 |
| Wichita, KS | $99,170 | 700 |
| New Haven, CT | $98,930 | 230 |
| Iowa City, IA | $98,630 | 120 |
| Fort Collins-Loveland, CO | $98,450 | 160 |
| Rochester, MN | $98,110 | 170 |
| Washington-Arlington-Alexandria, DC-VA-MD-WV | $97,800 | 5,000 |
Metro areas with the most loan officers
| Metro area | Workers | Median salary |
|---|---|---|
| New York-Newark-Jersey City, NY-NJ | 10,350 | $101,570 |
| Los Angeles-Long Beach-Anaheim, CA | 9,690 | $80,360 |
| Dallas-Fort Worth-Arlington, TX | 8,370 | $73,930 |
| Phoenix-Mesa-Chandler, AZ | 8,350 | $61,850 |
| Chicago-Naperville-Elgin, IL-IN | 7,380 | $80,040 |
| Detroit-Warren-Dearborn, MI | 7,200 | $76,260 |
| Atlanta-Sandy Springs-Roswell, GA | 5,550 | $76,340 |
| Washington-Arlington-Alexandria, DC-VA-MD-WV | 5,000 | $97,800 |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD | 4,660 | $77,590 |
| Miami-Fort Lauderdale-West Palm Beach, FL | 4,190 | $71,510 |
| Charlotte-Concord-Gastonia, NC-SC | 4,080 | $78,200 |
| Minneapolis-St. Paul-Bloomington, MN-WI | 3,910 | $102,200 |
| Tampa-St. Petersburg-Clearwater, FL | 3,850 | $72,220 |
| Boston-Cambridge-Newton, MA-NH | 3,420 | $103,400 |
| Houston-Pasadena-The Woodlands, TX | 3,410 | $67,560 |
Related jobs in the U.S.
| Job | Median salary | Hourly |
|---|---|---|
| Accountants and Auditors | $83,680 | $40.23 |
| Financial and Investment Analysts | $102,740 | $49.40 |
| Personal Financial Advisor | $105,070 | $50.51 |
| Financial Specialists, All Other | $81,100 | $38.99 |
| Insurance Underwriter | $81,370 | $39.12 |
| Tax Preparer | $54,920 | $26.40 |
| Financial Examiner | $94,160 | $45.27 |
| Credit Analyst | $83,510 | $40.15 |
| Financial Risk Specialist | $117,330 | $56.41 |
| Property Appraisers and Assessors | $67,960 | $32.67 |
| Tax Examiners and Collectors, and Revenue Agents | $62,370 | $29.98 |
| Budget Analyst | $91,640 | $44.06 |
| Credit Counselor | $52,230 | $25.11 |
| Business Operations Specialists, All Other | $83,050 | $39.93 |
Source: U.S. Bureau of Labor Statistics, Occupational Employment and Wage Statistics, May 2025 estimates, occupation code 13-2072. Wages include base pay, tips, commissions and shift pay, but not overtime, bonuses or benefits, and exclude the self-employed.
Frequently asked questions
How much does a loan officer make in the U.S.?
The median salary for loan officers in the U.S. is $76,690 a year, or $36.87 an hour. Pay ranges from $39,430 for the lowest-paid 10% to $153,180 for the top 10%.
How much do the highest-paid loan officers make in the U.S.?
The top 10% of loan officers in the U.S. earn at least $153,180 a year. The top 25% earn $104,080 or more.
What is the starting pay for loan officers in the U.S.?
Entry-level pay (the 10th percentile) is about $39,430 a year, and a quarter of loan officers earn $52,730 or less.
How many loan officers work in the U.S.?
About 274,330 loan officers are employed in the U.S., not counting the self-employed.