Loan Officer Salary (2025)
Loan officers evaluate and authorize mortgage and other loan applications.
The median Loan Officer salary is $65,740 per year ($32/hour). Entry-level Loan Officers earn around $42,000 while experienced Loan Officers earn $110,000 or more annually.
Salary Range
Median: $65,740 — positioned between entry and senior
Top Paying States for Loan Officers
| State | Est. Annual Salary | vs. National |
|---|---|---|
| Hawaii | $93,000 | +41% |
| California | $91,000 | +38% |
| New York | $84,000 | +28% |
| Alaska | $82,000 | +25% |
| Massachusetts | $82,000 | +25% |
| New Jersey | $79,000 | +20% |
| Connecticut | $78,000 | +19% |
| Washington | $76,000 | +16% |
Estimates based on cost-of-living index adjustments. Actual salaries vary by employer and experience.
How to Become a Loan Officer
Most Loan Officer positions require: Bachelor's in Finance + NMLS license. Salaries typically increase significantly with experience and specialization.
Loan Officer Salary by State
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Frequently Asked Questions
What is the average Loan Officer salary?
The median Loan Officer salary is $65,740 per year, which works out to approximately $32/hour based on a 40-hour work week.
How much does an entry-level Loan Officer make?
Entry-level Loan Officers typically earn around $42,000 per year. Salaries grow significantly with experience and specialization.
What is a senior Loan Officer's salary?
Experienced Loan Officers can earn up to $110,000 or more annually depending on location, employer, and specialization.
What education is required to become a Loan Officer?
Most Loan Officer positions require: Bachelor's in Finance + NMLS license.