Loan Officer Salary
Loan Officers earn a median $76,690 a year nationally. Business and Financial Operations Occupations
U.S. median
$76,690
$36.87 per hour
Range
$39,430 – $153,180
10th to 90th percentile
Employed
274,330
across the U.S.
▲3.4%
Pay trend: The median for loan officers in the U.S. rose from $74,180 (May 2024) to $76,690 (May 2025). That beat inflation (2.4%), a real raise of about 1.0%.
What loan officers do
Evaluate, authorize, or recommend approval of commercial, real estate, or credit loans. Advise borrowers on financial status and payment methods.
- Typical education
- Bachelor's degree
- Work experience
- Less than 5 years
- On-the-job training
- Moderate-term on-the-job training
- Job outlook, 2025–35
- +1.1% (slower than average)
- Openings per year
- 17,100
- Self-employed
- 1%
Employment of loan officers is projected to grow 1.1% from 2025 to 2035, slower than the 3.5% average for all occupations. About 17,100 openings are expected each year, on average, including jobs left by workers who retire or switch careers.
Source: BLS Standard Occupational Classification and Employment Projections, 2025–35.
Loan Officer take-home pay calculator
Starts at the national median. Pick your state to see your real paycheck.
Your take-home pay
$62,781
per year · effective tax rate 18.1%
$5,232Monthly
$2,616Twice a month
$2,415Every 2 weeks
$30.18Hourly
- Federal income tax$8,042
- Social Security (6.2%)$4,755
- Medicare (1.45%)$1,112
- Texas income tax$0
- Take-home pay$62,781
Marginal rate: 22% federal + 0.00% state
Pay by experience
| Percentile | Salary | Hourly | Take-home (no state tax) |
|---|---|---|---|
| 10th percentile (entry level) | $39,430 | $18.96 | $33,862 |
| 25th percentile | $52,730 | $25.35 | $44,549 |
| Median (50th) | $76,690 | $36.87 | $62,781 |
| 75th percentile | $104,080 | $50.04 | $82,050 |
| 90th percentile (top earners) | $153,180 | $73.64 | $115,965 |
Best cities for loan officers (after tax & cost of living)
| # | Metro area | Median | Take-home | Real value* | Jobs |
|---|---|---|---|---|---|
| 1 | Minneapolis, MN | $102,200 | $75,301 | $71,837 | 3,910 |
| 2 | Boston, MA | $103,400 | $76,622 | $70,772 | 3,420 |
| 3 | Columbus, OH | $82,160 | $65,153 | $68,245 | 2,410 |
| 4 | New York, NY | $101,570 | $75,332 | $66,924 | 10,350 |
| 5 | Washington, DC | $97,800 | $72,288 | $66,390 | 5,000 |
| 6 | Portland, OR | $96,100 | $68,857 | $65,316 | 2,840 |
| 7 | San Francisco, CA | $103,000 | $74,602 | $64,527 | 3,330 |
| 8 | Charlotte, NC | $78,200 | $61,232 | $62,900 | 4,080 |
| 9 | St. Louis, MO | $74,510 | $58,683 | $61,715 | 2,690 |
| 10 | Seattle, WA | $83,720 | $67,727 | $60,942 | 3,110 |
| 11 | Philadelphia, PA | $77,590 | $61,033 | $59,513 | 4,660 |
| 12 | Detroit, MI | $76,260 | $59,489 | $59,312 | 7,200 |
| 13 | Chicago, IL | $80,040 | $61,321 | $59,193 | 7,380 |
| 14 | Atlanta, GA | $76,340 | $59,196 | $59,162 | 5,550 |
| 15 | Tampa, FL | $72,220 | $59,637 | $59,111 | 3,850 |
| 16 | Dallas, TX | $73,930 | $60,840 | $59,016 | 8,370 |
| 17 | Houston, TX | $67,560 | $56,358 | $57,142 | 3,410 |
| 18 | San Diego, CA | $81,770 | $61,917 | $55,339 | 2,360 |
| 19 | Los Angeles, CA | $80,360 | $61,075 | $53,779 | 9,690 |
| 20 | Miami, FL | $71,510 | $59,137 | $51,804 | 4,190 |
| 21 | Phoenix, AZ | $61,850 | $50,539 | $48,917 | 8,350 |
*Take-home pay in U.S.-average dollars (BEA Regional Price Parities).
Highest-paying cities
- Boston, MA — $103,400
- San Francisco, CA — $103,000
- Minneapolis, MN — $102,200
- New York, NY — $101,570
- Washington, DC — $97,800
- Portland, OR — $96,100
- Seattle, WA — $83,720
- Columbus, OH — $82,160
- San Diego, CA — $81,770
- Los Angeles, CA — $80,360
- Chicago, IL — $80,040
- Charlotte, NC — $78,200
- Philadelphia, PA — $77,590
- Atlanta, GA — $76,340
- Detroit, MI — $76,260
Loan Officer salary by state
| State | Median | 1-yr change | Take-home | Range | Jobs |
|---|---|---|---|---|---|
| Massachusetts | $101,600 | +8.7% | $75,446 | $64,680 – $198,220 | 4,470 |
| Connecticut | $95,730 | +23.4% | $72,486 | $50,300 – $171,280 | 2,220 |
| New York | $95,710 | −3.3% | $71,555 | $49,410 – $211,350 | 10,840 |
| Minnesota | $95,170 | +12.7% | $70,834 | $57,670 – $163,350 | 6,430 |
| Colorado | $94,520 | +18.4% | $71,874 | $39,430 – $165,370 | 3,230 |
| Oregon | $94,440 | +26.4% | $67,835 | $48,240 – $161,250 | 4,220 |
| New Jersey | $92,920 | −2.3% | $70,470 | $50,490 – $169,280 | 6,200 |
| District of Columbia | $92,890 | −9.1% | $69,251 | $45,860 – $157,630 | 370 |
| Vermont | $88,710 | +2.6% | $67,843 | $56,820 – $168,070 | 350 |
| Kansas | $86,970 | +5.4% | $65,960 | $48,560 – $160,560 | 3,540 |
| North Dakota | $84,650 | +2.0% | $67,990 | $58,010 – $146,640 | 1,370 |
| Iowa | $83,670 | +4.5% | $65,164 | $51,690 – $138,150 | 2,840 |
| Delaware | $83,130 | +2.9% | $63,166 | $45,670 – $148,210 | 1,420 |
| Maine | $81,900 | +4.9% | $62,086 | $46,710 – $140,680 | 1,060 |
| California | $81,770 | +2.8% | $61,917 | $37,460 – $169,040 | 25,790 |
| New Hampshire | $80,660 | +2.5% | $65,574 | $47,970 – $160,580 | 1,120 |
| Washington | $80,120 | +4.0% | $65,194 | $39,000 – $162,240 | 6,040 |
| South Dakota | $79,920 | +1.7% | $65,054 | $58,480 – $125,080 | 1,820 |
| Nebraska | $79,840 | +5.4% | $62,244 | $49,360 – $136,640 | 2,710 |
| Wyoming | $79,620 | +4.1% | $64,843 | $47,410 – $132,810 | 740 |
| Illinois | $79,150 | +4.2% | $60,739 | $43,020 – $137,080 | 10,890 |
| Virginia | $78,320 | −1.6% | $60,239 | $40,190 – $157,070 | 8,790 |
| Wisconsin | $78,290 | −1.2% | $61,138 | $50,010 – $140,140 | 4,940 |
| Rhode Island | $77,250 | −0.3% | $60,895 | $50,420 – $134,950 | 1,290 |
| Ohio | $76,370 | +10.3% | $61,238 | $38,200 – $131,980 | 9,880 |
| North Carolina | $75,920 | +0.1% | $59,719 | $43,270 – $130,480 | 10,700 |
| Michigan | $74,470 | +2.5% | $58,305 | $36,830 – $135,700 | 11,340 |
| Missouri | $73,660 | +1.3% | $58,125 | $38,910 – $136,130 | 7,050 |
| Maryland | $73,580 | +0.3% | $57,462 | $37,470 – $159,860 | 3,850 |
| Oklahoma | $72,990 | +11.1% | $57,439 | $36,510 – $158,710 | 4,100 |
| Indiana | $72,960 | +2.2% | $58,035 | $43,870 – $129,740 | 4,790 |
| Alaska | $72,800 | +11.7% | $60,045 | $26,730 – $123,570 | 490 |
| Montana | $71,570 | +8.5% | $56,497 | $48,130 – $123,130 | 1,180 |
| Florida | $71,090 | −0.4% | $58,842 | $33,180 – $133,070 | 18,830 |
| Idaho | $71,070 | +10.4% | $56,169 | $43,160 – $156,410 | 2,030 |
| Arkansas | $70,260 | +0.3% | $55,731 | $39,210 – $136,500 | 2,610 |
| Pennsylvania | $69,300 | +12.7% | $55,455 | $39,990 – $132,900 | 8,140 |
| Georgia | $68,490 | −5.2% | $54,081 | $39,490 – $138,800 | 9,540 |
| Alabama | $66,710 | +9.8% | $52,690 | $42,090 – $155,660 | 5,050 |
| Texas | $66,370 | +4.1% | $55,508 | $34,150 – $135,280 | 21,200 |
| Nevada | $64,500 | +10.4% | $54,006 | $29,640 – $163,930 | 2,580 |
| Hawaii | $63,740 | −9.3% | $50,081 | $34,150 – $131,020 | 980 |
| South Carolina | $63,220 | +2.5% | $50,341 | $37,080 – $142,260 | 4,140 |
| Tennessee | $62,800 | −0.6% | $52,640 | $38,240 – $113,290 | 6,510 |
| New Mexico | $62,610 | −13.9% | $50,710 | $27,700 – $122,960 | 1,140 |
| Arizona | $62,160 | +15.6% | $50,780 | $35,960 – $133,890 | 10,020 |
| Kentucky | $62,090 | −9.5% | $50,014 | $41,620 – $124,520 | 3,940 |
| Louisiana | $61,110 | +6.6% | $49,835 | $38,100 – $124,420 | 2,810 |
| Mississippi | $60,260 | +0.5% | $48,921 | $37,030 – $131,510 | 3,450 |
| Utah | $59,440 | −2.3% | $48,231 | $37,790 – $128,200 | 3,990 |
| West Virginia | $57,580 | +16.2% | $46,588 | $37,830 – $114,800 | 1,290 |
Related jobs
| Job | Median salary | Education | Growth 2025–35 |
|---|---|---|---|
| Credit Counselor | $52,230 | Bachelor's degree | +3.3% |
| Financial Specialists, All Other | $81,100 | Bachelor's degree | +4.1% |
| Insurance Underwriter | $81,370 | Bachelor's degree | -3.8% |
| Credit Analyst | $83,510 | Bachelor's degree | -4.3% |
| Accountant and Auditor | $83,680 | Bachelor's degree | +5.0% |
| Property Appraiser and Assessor | $67,960 | Bachelor's degree | +3.5% |
| Tax Examiners and Collectors, and Revenue Agents | $62,370 | Bachelor's degree | -1.0% |
| Budget Analyst | $91,640 | Bachelor's degree | +1.9% |
| Financial Examiner | $94,160 | Bachelor's degree | +9.3% |
| Tax Preparer | $54,920 | High school diploma or equivalent | +4.7% |
Frequently asked questions
How much does a loan officer make?
The national median salary for loan officers is $76,690 a year ($36.87 an hour). The lowest-paid 10% earn under $39,430 and the top 10% earn over $153,180. Source: BLS, May 2025.
Which state pays loan officers the most?
Massachusetts has the highest median pay at $101,600. After taxes and local prices, Minneapolis, MN offers the best real take-home pay of any metro area.
How many loan officers are there in the U.S.?
About 274,330 people work as loan officers nationwide.