Loan Officer salary in Cleveland, TN
Loan Officers in the Cleveland, TN metro area earn a median of $57,010 a year ($27.41 an hour), based on BLS data for 90 workers.
Pay ranges from $35,890 for the lowest-paid 10% to $98,710 for the top 10%. That is 26% lower than the national median of $76,690. Pay here is 9% lower than the Tennessee statewide median of $62,800. There are 2.0 loan officers per 1,000 jobs here — close to the national average. The average (mean) salary is $60,100, above the median because a few high earners pull it up.
Pay range for loan officers in Cleveland, TN
| Pay level | Yearly | Hourly |
|---|---|---|
| 10th percentile (entry level) | $35,890 | $17.26 |
| 25th percentile | $38,810 | $18.66 |
| Median | $57,010 | $27.41 |
| 75th percentile | $72,670 | $34.94 |
| 90th percentile (top earners) | $98,710 | $47.46 |
| Average (mean) | $60,100 | $28.89 |
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 | $4,750.83 |
| Semi-monthly (24 a year) | $2,375.42 |
| Biweekly (26 a year) | $2,192.69 |
| Weekly | $1,096.35 |
| Hourly | $27.41 |
Based on a full-time year of 2,080 hours. Convert any amount with the hourly to salary converter.
Buying a home? On a $57,010 salary, see how much house you can afford in Tennessee at today's mortgage rates, or work out a payment with the mortgage calculator.
Loan Officer salary in other metro areas nearby
| Metro area | Median salary | Workers |
|---|---|---|
| Knoxville, TN | $63,830 | 930 |
| Johnson City, TN | $63,590 | 190 |
| Memphis, TN-MS-AR | $63,250 | 930 |
| Nashville-Davidson--Murfreesboro--Franklin, TN | $62,800 | 1,770 |
| Chattanooga, TN-GA | $62,460 | 480 |
| Jackson, TN | $61,500 | 150 |
| Clarksville, TN-KY | $60,270 | 210 |
| Kingsport-Bristol, TN-VA | $60,250 | 260 |
| Morristown, TN | $47,130 | 50 |
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 Tennessee statewide figures.
Related jobs in Cleveland, TN
| Job | Median salary | Hourly |
|---|---|---|
| Accountants and Auditors | $71,840 | $34.54 |
| Personal Financial Advisor | $43,880 | $21.10 |
| Human Resources Specialist | $60,560 | $29.12 |
| Buyers and Purchasing Agents | $63,650 | $30.60 |
| Market Research Analysts and Marketing Specialists | $61,580 | $29.61 |
| Project Management Specialist | $80,720 | $38.81 |
| Business Operations Specialists, All Other | $73,610 | $35.39 |
| Cost Estimator | $74,350 | $35.74 |
| Management Analyst | $83,990 | $40.38 |
| Training and Development Specialists | $51,210 | $24.62 |
| Compliance Officer | $55,040 | $26.46 |
| Claims Adjusters, Examiners, and Investigators | $76,550 | $36.80 |
| Logistician | $63,600 | $30.58 |
More: Business and Financial Operations Occupations · all salaries in Cleveland, TN
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 Cleveland, TN?
The median salary for loan officers in the Cleveland, TN metro area is $57,010 a year, or $27.41 an hour. Pay ranges from $35,890 for the lowest-paid 10% to $98,710 for the top 10%.
How much do the highest-paid loan officers make in Cleveland, TN?
The top 10% of loan officers in the Cleveland, TN metro area earn at least $98,710 a year. The top 25% earn $72,670 or more.
What is the starting pay for loan officers in Cleveland, TN?
Entry-level pay (the 10th percentile) is about $35,890 a year, and a quarter of loan officers earn $38,810 or less.
How many loan officers work in Cleveland, TN?
About 90 loan officers are employed in the Cleveland, TN metro area, not counting the self-employed.