Loan Officer salary in Cedar Rapids, IA
Loan Officers in the Cedar Rapids, IA metro area earn a median of $85,990 a year ($41.34 an hour), based on BLS data for 190 workers.
Pay ranges from $49,820 for the lowest-paid 10% to $136,610 for the top 10%. That is 12% higher than the national median of $76,690. Pay here is 3% higher than the Iowa statewide median of $83,670. There are 1.4 loan officers per 1,000 jobs here — the job is less common than nationally (location quotient 0.77). The average (mean) salary is $90,770, above the median because a few high earners pull it up.
Pay range for loan officers in Cedar Rapids, IA
| Pay level | Yearly | Hourly |
|---|---|---|
| 10th percentile (entry level) | $49,820 | $23.95 |
| 25th percentile | $62,120 | $29.86 |
| Median | $85,990 | $41.34 |
| 75th percentile | $102,990 | $49.51 |
| 90th percentile (top earners) | $136,610 | $65.68 |
| Average (mean) | $90,770 | $43.64 |
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 | $7,165.83 |
| Semi-monthly (24 a year) | $3,582.92 |
| Biweekly (26 a year) | $3,307.31 |
| Weekly | $1,653.65 |
| Hourly | $41.34 |
Based on a full-time year of 2,080 hours. Convert any amount with the hourly to salary converter.
Loan Officer salary in other metro areas nearby
| Metro area | Median salary | Workers |
|---|---|---|
| Des Moines-West Des Moines, IA | $101,190 | 650 |
| Iowa City, IA | $98,630 | 120 |
| Ames, IA | $84,470 | 70 |
| Sioux City, IA-NE-SD | $81,780 | 140 |
| Omaha, NE-IA | $80,300 | 910 |
| Dubuque, IA | $76,170 | 110 |
| Davenport-Moline-Rock Island, IA-IL | $75,380 | 350 |
| Waterloo-Cedar Falls, IA | $72,990 | 190 |
Highest-paying states for loan officers
| State | Median salary |
|---|---|
| Massachusetts | $101,600 |
| Connecticut | $95,730 |
| New York | $95,710 |
| Minnesota | $95,170 |
| Colorado | $94,520 |
| Oregon | $94,440 |
| New Jersey | $92,920 |
| District of Columbia | $92,890 |
| Vermont | $88,710 |
| Kansas | $86,970 |
See Loan Officer pay in every state or the Iowa statewide figures.
Related jobs in Cedar Rapids, IA
| Job | Median salary | Hourly |
|---|---|---|
| Accountants and Auditors | $77,180 | $37.11 |
| Personal Financial Advisor | $93,320 | $44.87 |
| Financial and Investment Analysts | $82,840 | $39.83 |
| Financial Specialists, All Other | $77,240 | $37.13 |
| Insurance Underwriter | $77,440 | $37.23 |
| Financial Examiner | $82,620 | $39.72 |
| Credit Analyst | $73,590 | $35.38 |
| Tax Preparer | $51,820 | $24.92 |
| Financial Risk Specialist | $91,480 | $43.98 |
| Property Appraisers and Assessors | $89,270 | $42.92 |
| Market Research Analysts and Marketing Specialists | $63,630 | $30.59 |
| Project Management Specialist | $93,760 | $45.08 |
| Business Operations Specialists, All Other | $72,740 | $34.97 |
| Human Resources Specialist | $63,070 | $30.32 |
More: Business and Financial Operations Occupations · all salaries in Cedar Rapids, IA
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 Cedar Rapids, IA?
The median salary for loan officers in the Cedar Rapids, IA metro area is $85,990 a year, or $41.34 an hour. Pay ranges from $49,820 for the lowest-paid 10% to $136,610 for the top 10%.
How much do the highest-paid loan officers make in Cedar Rapids, IA?
The top 10% of loan officers in the Cedar Rapids, IA metro area earn at least $136,610 a year. The top 25% earn $102,990 or more.
What is the starting pay for loan officers in Cedar Rapids, IA?
Entry-level pay (the 10th percentile) is about $49,820 a year, and a quarter of loan officers earn $62,120 or less.
How many loan officers work in Cedar Rapids, IA?
About 190 loan officers are employed in the Cedar Rapids, IA metro area, not counting the self-employed.