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Loan officer salary in United States

How much does a Loan Officer make in the United States?

Average base salary

$215,749
Commission
$35,500per year
Non-cash benefit
401(k)
View more benefits

The average salary for a loan officer is $215,749 per year in the United States and $35,500 commission per year.87.5k salaries reported, updated at September 13, 2022

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Salaries by years of experience in the United States

Years of experiencePer year
Less than 1 year
1 to 2 years
3 to 5 years
6 to 9 years
More than 10 years
View job openings with the years of experience that is relevant to you on Indeed
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Top companies for Loan Officers in United States

  1. Obsidian Financial Services
    3.1star
    19 reviews75.3k salaries reported
    $200,892per year
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Highest paying cities for Loan Officers near United States

  1. Irvine, CA
    $235,169 per year
    124 salaries reported
  2. San Diego, CA
    $231,706 per year
    148 salaries reported
  3. Dallas, TX
    $225,181 per year
    72 salaries reported
  1. Detroit, MI
    $223,596 per year
    30 salaries reported
  2. Charlotte, NC
    $220,708 per year
    55 salaries reported
  3. Houston, TX
    $220,706 per year
    101 salaries reported
  1. Phoenix, AZ
    $220,330 per year
    82 salaries reported
  2. Scottsdale, AZ
    $215,978 per year
    51 salaries reported
  3. Tampa, FL
    $214,542 per year
    160 salaries reported
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Where can a Loan Officer earn more?

Compare salaries for Loan Officers in different locations
vs
Explore Loan Officer openings
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Best-paid skills and qualifications for Loan Officers

Most recommended license

NMLS

(earn +28.08% more)

The jobs requiring this license have increase by 9.99% since 2018. Loan Officers with this license earn +28.08% more than the average base salary, which is $215,749 per year.

Job Trend
YearNumber of job openings on Indeed requiring this licenseChange from previous year
201111increase by 11
201211638increase by 105700.00%
201344369increase by 281.24%
201465840increase by 48.39%
201522251decrease by 66.20%
201623720increase by 6.60%
201719551decrease by 17.58%
201816762decrease by 14.27%
201918436increase by 9.99%

Top companies hiring Loan Officers on Indeed

Freedom Choice Lending
Transportation Federal Credit Union
DG Pinnacle Funding
Waymaker Mortgage
Lennar Corporation
View more companies for Loan Officers
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Top fields of study
Medical Degree
+21.81%salary
Top skills
Sales Experience
+10.60%salary

More critical skills and qualifications that pay well

Top LicensesSalaryJob openingsCompanies
870 jobs3,325
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Most common benefits for Loan Officers

  • 401(k)
  • 401(k) matching
  • AD&D insurance
  • Continuing education credits
  • Dental insurance
  • Disability insurance
  • Employee assistance program
  • Employee discount
  • Employee stock ownership plan
  • Flexible schedule
  • Flexible spending account
  • Health insurance
  • Health savings account
  • Life insurance
  • Opportunities for advancement
  • Paid time off
  • Paid training
  • Parental leave
  • Professional development assistance
  • Referral program
  • Retirement plan
  • Tuition reimbursement
  • Vision insurance
  • Work from home
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Salary satisfaction

Based on 475 ratings

51% of Loan Officers in the United States think their salaries are enough for the cost of living in their area.

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How much do similar professions get paid in United States?

Mortgage Loan Originator

7,146 job openings

Average $283,220 per year

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Common questions about salaries for a Loan Officer

How can I know if I am being paid fairly as a loan officer?

If you’re unsure about what salary is appropriate for a loan officer, visit Indeed's Salary Calculator to get a free, personalized pay range based on your location, industry, and experience.

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How much do similar professions to Loan Officer get paid?

Check the below indeed career pages for the detailed pay ranges for the similar professions to loan officer:

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