Loan Officer Salary (2024)
Salary Range
Loan Officer salaries range from $53,700 to $102,540 median across cities, depending on location, experience, and industry.
Loan Officer Salary by City
| City | 10th | 25th | Median | 75th | 90th | COL-Adjusted | Jobs |
|---|---|---|---|---|---|---|---|
| New York, NY | $49,690 | $72,680 | $102,540 | $162,570 | $216,810 | $54,776 | 11,250 |
| Boston, MA | $60,750 | $76,630 | $94,850 | $134,440 | $180,680 | $62,360 | 3,320 |
| Washington, DC | $47,260 | $62,930 | $94,840 | $133,710 | $206,190 | $62,068 | 5,260 |
| San Francisco, CA | $43,870 | $61,450 | $94,110 | $133,370 | $199,680 | $52,400 | 3,090 |
| Minneapolis, MN | $57,650 | $72,440 | $91,900 | $122,280 | $162,480 | $86,535 | 4,360 |
| San Jose, CA | $42,180 | $66,180 | $81,990 | $126,480 | $164,630 | $41,874 | 1,480 |
| Denver, CO | $35,310 | $61,420 | $81,200 | $121,930 | $159,310 | $71,986 | 2,270 |
| Charlotte, NC | $39,410 | $59,790 | $81,160 | $117,110 | $158,080 | $83,930 | 4,550 |
| Los Angeles, CA | $36,850 | $54,600 | $80,340 | $118,250 | $152,840 | $48,398 | 11,110 |
| Seattle, WA | $35,130 | $58,660 | $79,110 | $104,580 | $152,920 | $52,952 | 3,210 |
| Atlanta, GA | $44,210 | $59,270 | $78,220 | $108,470 | $149,370 | $78,851 | 5,550 |
| San Diego, CA | $34,630 | $47,410 | $77,780 | $109,280 | $184,070 | $48,552 | 2,000 |
| Chicago, IL | $47,940 | $56,440 | $77,270 | $105,110 | $152,530 | $72,013 | 7,040 |
| Philadelphia, PA | $39,250 | $52,690 | $76,910 | $102,520 | $133,570 | $64,958 | 4,830 |
| Detroit, MI | $29,340 | $49,940 | $76,710 | $103,830 | $139,630 | $80,662 | 6,340 |
| Portland, OR | $40,420 | $58,330 | $75,020 | $115,960 | $161,010 | $57,663 | 2,540 |
| Miami, FL | $27,740 | $47,900 | $71,980 | $101,120 | $148,250 | $58,473 | 4,660 |
| Tampa, FL | $38,610 | $50,310 | $71,780 | $96,440 | $127,190 | $72,068 | 4,000 |
| Houston, TX | $28,000 | $48,790 | $69,010 | $99,440 | $165,350 | $71,513 | 3,820 |
| Nashville, TN | $39,260 | $49,610 | $66,130 | $93,660 | $131,010 | $65,932 | 2,370 |
| Raleigh, NC | $44,500 | $53,990 | $64,540 | $96,330 | $129,890 | $64,669 | 1,730 |
| Austin, TX | $23,190 | $45,930 | $64,310 | $88,730 | $128,620 | $62,437 | 2,020 |
| Dallas, TX | $38,780 | $47,430 | $63,800 | $86,690 | $125,060 | $61,287 | 10,060 |
| Salt Lake City, UT | $39,610 | $47,030 | $61,760 | $94,270 | $128,370 | $60,907 | 3,490 |
| Phoenix, AZ | $29,990 | $46,450 | $53,700 | $79,620 | $108,630 | $53,327 | 9,840 |
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Frequently Asked Questions
The national median salary for Loan Officer is $77,238 as of 2024. The national mean (average) is $91,848. Salaries range from $53,700 to $102,540 depending on city and cost of living.
Loan Officer salaries vary significantly by metro area. The highest-paying cities offer median salaries well above the national average of $77,238, though cost of living should be factored in. Check the city breakdown table above for COL-adjusted figures.
There are approximately 120,190 Loan Officer positions in the US across 25 metropolitan areas tracked by the Bureau of Labor Statistics.
Loan Officer positions at the 90th percentile earn significantly more than the median, suggesting strong income growth potential with experience and specialization. The gap between the 10th and 90th percentile indicates the impact that skills, location, and seniority have on compensation.
Salary data from BLS Occupational Employment and Wage Statistics. COL adjustments use BEA Regional Price Parities.