Loan Officer salary in New Mexico
Loan Officers in New Mexico earn a median of $62,610 a year ($30.10 an hour), based on BLS data for 1,140 workers.
Pay ranges from $27,700 for the lowest-paid 10% to $122,960 for the top 10%. That is 18% lower than the national median of $76,690. New Mexico ranks 45th of 51 states for loan officers pay. There are 1.3 loan officers per 1,000 jobs here — the job is less common than nationally (location quotient 0.74). The average (mean) salary is $75,410, above the median because a few high earners pull it up.
Pay range for loan officers in New Mexico
| Pay level | Yearly | Hourly |
|---|---|---|
| 10th percentile (entry level) | $27,700 | $13.32 |
| 25th percentile | $48,040 | $23.09 |
| Median | $62,610 | $30.10 |
| 75th percentile | $90,040 | $43.29 |
| 90th percentile (top earners) | $122,960 | $59.11 |
| Average (mean) | $75,410 | $36.26 |
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 | $5,217.50 |
| Semi-monthly (24 a year) | $2,608.75 |
| Biweekly (26 a year) | $2,408.08 |
| Weekly | $1,204.04 |
| Hourly | $30.10 |
Based on a full-time year of 2,080 hours. Convert any amount with the hourly to salary converter.
Loan Officer salary in cities in New Mexico
| Metro area | Median salary | Workers |
|---|---|---|
| Albuquerque, NM | $62,250 | 630 |
| Las Cruces, NM | $61,110 | 80 |
| Farmington, NM | $58,740 | 40 |
| Santa Fe, NM | $52,960 | 120 |
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 |
Related jobs in New Mexico
| Job | Median salary | Hourly |
|---|---|---|
| Accountants and Auditors | $78,580 | $37.78 |
| Financial and Investment Analysts | $87,630 | $42.13 |
| Budget Analyst | $87,360 | $42.00 |
| Financial Specialists, All Other | $80,610 | $38.76 |
| Personal Financial Advisor | $94,270 | $45.32 |
| Property Appraisers and Assessors | $50,550 | $24.30 |
| Tax Preparer | $38,060 | $18.30 |
| Financial Examiner | $67,950 | $32.67 |
| Credit Counselor | $50,390 | $24.23 |
| Tax Examiners and Collectors, and Revenue Agents | $56,260 | $27.05 |
| Financial Risk Specialist | $87,260 | $41.95 |
| Insurance Underwriter | $64,000 | $30.77 |
| Credit Analyst | $72,160 | $34.69 |
| Business Operations Specialists, All Other | $79,100 | $38.03 |
More: Business and Financial Operations Occupations · all salaries in New Mexico
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 New Mexico?
The median salary for loan officers in New Mexico is $62,610 a year, or $30.10 an hour. Pay ranges from $27,700 for the lowest-paid 10% to $122,960 for the top 10%.
How much do the highest-paid loan officers make in New Mexico?
The top 10% of loan officers in New Mexico earn at least $122,960 a year. The top 25% earn $90,040 or more.
What is the starting pay for loan officers in New Mexico?
Entry-level pay (the 10th percentile) is about $27,700 a year, and a quarter of loan officers earn $48,040 or less.
How many loan officers work in New Mexico?
About 1,140 loan officers are employed in New Mexico, not counting the self-employed.