Loan Officer salary in Richmond, VA
Loan Officers in the Richmond, VA metro area earn a median of $69,610 a year ($33.47 an hour), based on BLS data for 1,480 workers.
Pay ranges from $40,190 for the lowest-paid 10% to $129,060 for the top 10%. That is 9% lower than the national median of $76,690. Pay here is 11% lower than the Virginia statewide median of $78,320. There are 2.2 loan officers per 1,000 jobs here — the job is 1.3× more common than nationally. The average (mean) salary is $78,940, above the median because a few high earners pull it up.
Pay range for loan officers in Richmond, VA
| Pay level | Yearly | Hourly |
|---|---|---|
| 10th percentile (entry level) | $40,190 | $19.32 |
| 25th percentile | $49,900 | $23.99 |
| Median | $69,610 | $33.47 |
| 75th percentile | $93,850 | $45.12 |
| 90th percentile (top earners) | $129,060 | $62.05 |
| Average (mean) | $78,940 | $37.95 |
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 | $5,800.83 |
| Semi-monthly (24 a year) | $2,900.42 |
| Biweekly (26 a year) | $2,677.31 |
| Weekly | $1,338.65 |
| Hourly | $33.47 |
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 |
|---|---|---|
| Washington-Arlington-Alexandria, DC-VA-MD-WV | $97,800 | 5,000 |
| Blacksburg-Christiansburg-Radford, VA | $85,610 | 90 |
| Harrisonburg, VA | $65,010 | 100 |
| Roanoke, VA | $64,720 | 320 |
| Virginia Beach-Chesapeake-Norfolk, VA-NC | $64,080 | 1,260 |
| Staunton-Stuarts Draft, VA | $63,390 | 70 |
| Winchester, VA-WV | $63,320 | 280 |
| Charlottesville, VA | $60,610 | 480 |
| Kingsport-Bristol, TN-VA | $60,250 | 260 |
| Lynchburg, VA | $58,550 | 140 |
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 Virginia statewide figures.
Related jobs in Richmond, VA
| Job | Median salary | Hourly |
|---|---|---|
| Accountants and Auditors | $84,220 | $40.49 |
| Financial and Investment Analysts | $104,160 | $50.08 |
| Personal Financial Advisor | $110,910 | $53.32 |
| Insurance Underwriter | $81,400 | $39.13 |
| Financial Specialists, All Other | $81,070 | $38.97 |
| Tax Examiners and Collectors, and Revenue Agents | $57,620 | $27.70 |
| Financial Examiner | $100,540 | $48.34 |
| Budget Analyst | $92,550 | $44.49 |
| Financial Risk Specialist | $105,060 | $50.51 |
| Tax Preparer | $62,160 | $29.89 |
| Property Appraisers and Assessors | $81,270 | $39.07 |
| Credit Counselor | $54,150 | $26.03 |
| Credit Analyst | $105,430 | $50.69 |
| Project Management Specialist | $102,170 | $49.12 |
More: Business and Financial Operations Occupations · all salaries in Richmond, VA
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 Richmond, VA?
The median salary for loan officers in the Richmond, VA metro area is $69,610 a year, or $33.47 an hour. Pay ranges from $40,190 for the lowest-paid 10% to $129,060 for the top 10%.
How much do the highest-paid loan officers make in Richmond, VA?
The top 10% of loan officers in the Richmond, VA metro area earn at least $129,060 a year. The top 25% earn $93,850 or more.
What is the starting pay for loan officers in Richmond, VA?
Entry-level pay (the 10th percentile) is about $40,190 a year, and a quarter of loan officers earn $49,900 or less.
How many loan officers work in Richmond, VA?
About 1,480 loan officers are employed in the Richmond, VA metro area, not counting the self-employed.