Loan Officer Salary Overview
The Loan Officer is a sought-after profession in the United States with a median annual salary of $69,990. Compensation typically ranges from $36,800 for entry-level positions to $138,400 for experienced professionals in high-demand markets.Salary Range: The typical Loan Officer in the US earns between $36,800 and $138,400 per year, with a median of $69,990.
Loan Officer Salary by Experience
Entry-level loan officers earn around $45,494, while those with 10+ years of experience can earn $94,486 or more.
| Level | Salary | Hourly | Take-Home |
|---|---|---|---|
| Entry | $46,193 | $22/hr | $38,092 |
| Mid | $69,990 | $34/hr | $54,927 |
| Senior | $95,886 | $46/hr | $70,787 |
| Lead | $109,184 | $52/hr | $78,905 |
Loan Officer Salary by State (After Tax)
Gross salary, federal tax, state tax, and estimated take-home pay for a Loan Officer in each US state.
Pay for loan officers varies significantly by state, with coastal and high-cost-of-living areas generally offering higher salaries to offset expenses.
| State | Gross | Federal | State Tax | FICA | Take-Home | Rate |
|---|---|---|---|---|---|---|
| Alabama | $69,990 | $7,012 | $3,334 | $5,354 | $54,289 | 22.4% |
| Alaska | $69,990 | $7,012 | $0 | $5,354 | $57,624 | 17.7% |
| Arizona | $69,990 | $7,012 | $1,385 | $5,354 | $56,239 | 19.6% |
| Arkansas | $69,990 | $7,012 | $2,853 | $5,354 | $54,771 | 21.7% |
| California | $69,990 | $7,012 | $2,697 | $5,354 | $54,927 | 21.5% |
| Colorado | $69,990 | $7,012 | $2,420 | $5,354 | $55,204 | 21.1% |
| Connecticut | $69,990 | $7,012 | $3,099 | $5,354 | $54,525 | 22.1% |
| Delaware | $69,990 | $7,012 | $3,388 | $5,354 | $54,236 | 22.5% |
| District of Columbia | $69,990 | $7,012 | $3,200 | $5,354 | $54,424 | 22.2% |
| Florida | $69,990 | $7,012 | $0 | $5,354 | $57,624 | 17.7% |
| Georgia | $69,990 | $7,012 | $3,184 | $5,354 | $54,440 | 22.2% |
| Hawaii | $69,990 | $7,012 | $4,846 | $5,354 | $52,778 | 24.6% |
| Idaho | $69,990 | $7,012 | $3,213 | $5,354 | $54,411 | 22.3% |
| Illinois | $69,990 | $7,012 | $3,327 | $5,354 | $54,297 | 22.4% |
| Indiana | $69,990 | $7,012 | $2,135 | $5,354 | $55,489 | 20.7% |
| Iowa | $69,990 | $7,012 | $2,660 | $5,354 | $54,964 | 21.5% |
| Kansas | $69,990 | $7,012 | $3,332 | $5,354 | $54,292 | 22.4% |
| Kentucky | $69,990 | $7,012 | $2,673 | $5,354 | $54,951 | 21.5% |
| Louisiana | $69,990 | $7,012 | $2,393 | $5,354 | $55,231 | 21.1% |
| Maine | $69,990 | $7,012 | $3,491 | $5,354 | $54,133 | 22.7% |
| Maryland | $69,990 | $7,012 | $3,151 | $5,354 | $54,473 | 22.2% |
| Massachusetts | $69,990 | $7,012 | $3,280 | $5,354 | $54,344 | 22.4% |
| Michigan | $69,990 | $7,012 | $2,737 | $5,354 | $54,887 | 21.6% |
| Minnesota | $69,990 | $7,012 | $3,309 | $5,354 | $54,315 | 22.4% |
| Mississippi | $69,990 | $7,012 | $2,711 | $5,354 | $54,913 | 21.5% |
| Missouri | $69,990 | $7,012 | $2,489 | $5,354 | $55,135 | 21.2% |
| Montana | $69,990 | $7,012 | $3,022 | $5,354 | $54,602 | 22.0% |
| Nebraska | $69,990 | $7,012 | $2,567 | $5,354 | $55,057 | 21.3% |
| Nevada | $69,990 | $7,012 | $0 | $5,354 | $57,624 | 17.7% |
| New Hampshire | $69,990 | $7,012 | $0 | $5,354 | $57,624 | 17.7% |
| New Jersey | $69,990 | $7,012 | $2,374 | $5,354 | $55,250 | 21.1% |
| New Mexico | $69,990 | $7,012 | $2,435 | $5,354 | $55,189 | 21.1% |
| New York | $69,990 | $7,012 | $3,413 | $5,354 | $54,211 | 22.5% |
| North Carolina | $69,990 | $7,012 | $2,576 | $5,354 | $55,048 | 21.3% |
| North Dakota | $69,990 | $7,012 | $1,080 | $5,354 | $56,544 | 19.2% |
| Ohio | $69,990 | $7,012 | $1,206 | $5,354 | $56,418 | 19.4% |
| Oklahoma | $69,990 | $7,012 | $2,834 | $5,354 | $54,790 | 21.7% |
| Oregon | $69,990 | $7,012 | $5,599 | $5,354 | $52,025 | 25.7% |
| Pennsylvania | $69,990 | $7,012 | $2,149 | $5,354 | $55,475 | 20.7% |
| Rhode Island | $69,990 | $7,012 | $2,229 | $5,354 | $55,395 | 20.9% |
| South Carolina | $69,990 | $7,012 | $2,852 | $5,354 | $54,772 | 21.7% |
| South Dakota | $69,990 | $7,012 | $0 | $5,354 | $57,624 | 17.7% |
| Tennessee | $69,990 | $7,012 | $0 | $5,354 | $57,624 | 17.7% |
| Texas | $69,990 | $7,012 | $0 | $5,354 | $57,624 | 17.7% |
| Utah | $69,990 | $7,012 | $3,255 | $5,354 | $54,369 | 22.3% |
| Vermont | $69,990 | $7,012 | $2,679 | $5,354 | $54,945 | 21.5% |
| Virginia | $69,990 | $7,012 | $3,508 | $5,354 | $54,116 | 22.7% |
| Washington | $69,990 | $7,012 | $0 | $5,354 | $57,624 | 17.7% |
| West Virginia | $69,990 | $7,012 | $2,695 | $5,354 | $54,929 | 21.5% |
| Wisconsin | $69,990 | $7,012 | $2,622 | $5,354 | $55,002 | 21.4% |
| Wyoming | $69,990 | $7,012 | $0 | $5,354 | $57,624 | 17.7% |
Top Cities for Loan Officer Pay
The highest-paying metro areas for loan officers tend to be major metropolitan centers with strong industry demand and higher costs of living.
| City | Avg Salary |
|---|---|
| New York, NY | $76,989 |
| San Francisco, CA | $76,989 |
| Hartford, CT | $76,989 |
| Boston, MA | $76,989 |
| Washington, DC | $76,989 |
Calculate Loan Officer Take-Home Pay
Adjust the state and filing status to see your estimated after-tax income.
Estimated Take-Home Pay
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Gross Annual
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Tax Breakdown
Federal Income Tax
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Tax Distribution
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Pay Frequency Breakdown
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How to Become a Loan Officer
Becoming a loan officer typically requires relevant education, training, or certification in the field. Many employers also value practical experience, professional development, and industry-specific credentials.Loan Officer Career Outlook
Employment of loan officers is projected to grow steadily over the next decade, driven by continued demand across industries. Professionals who stay current with evolving requirements and build specialized expertise will find the strongest job prospects.Loan Officer Salary FAQ
The median annual salary for loan officers in the US is $69,990, with a typical range from $36,800 to $138,400 depending on experience and location.
The highest-paying states for loan officers include NY, CA, CT. These states typically have strong demand and higher costs of living.
Entry-level loan officers can expect to earn around $45,494 per year, with salary increasing as they gain experience and expertise.
Being a loan officer can be a rewarding career with solid compensation and growth potential. Job outlook is generally positive across most regions.
The median hourly rate for loan officers is approximately $33.65, though this varies based on experience, location, and employer.