Loan Officer Salary
Bureau of Labor Statistics title: Loan Officers
The median loan officer salary in the United States is $76,690 per year ($36.87/hour). Salaries range from $39,430 at the entry level to $153,180+ for the top 10% of earners. There are 274,330 loan officer jobs nationwide. Employment is projected to grow 1.7% through 2034.
Last updated: June 2026 Β· Source: U.S. Bureau of Labor Statistics
Salary Distribution
Job Growth (2024-2034)
Annual Openings
Education Required
Training Needed
Loan Officer Career Guide
Interview questions, resume templates, and a career ladder written specifically for loan officers.
Loan Officers originate and process loans β mortgages (residential + commercial), auto, personal, business, SBA. Career splits: mortgage loan officers (largest β retail + wholesale channels), commercial lenders (banks + credit unions), consumer lending, business + SBA lending, correspondent lending. Path: high school + NMLS licensing (mortgage) or bank hiring. Commission-heavy compensation. Median compensation entry $55-85k; experienced $95-180k+; top mortgage LOs $200-500k+ in strong markets; commercial + business lenders $85-180k+; branch managers + regional directors $150-280k+.
Core Skills Hiring Managers Screen For
How to Become a Loan Officer
- 1High school diploma or GED + basic mathBasic math + reading + writing skills required.
- 2NMLS licensing for mortgage LOs (SAFE Act)20-hour pre-licensing course + national + state exams + background check + fingerprinting.
- 3Apply at bank, credit union, mortgage company, or independent brokerRetail (bank branch) vs wholesale (broker) vs direct-to-consumer channels.
- 4Complete company training (2-8 weeks)Loan programs + LOS + compliance + sales.
- 5Move to production LO (independent origination)6-12 months typical. Build own book of business.
- 6Specialize (jumbo, commercial, SBA, VA, first-time buyer)Specialty commands higher fees + niche referral base.
- 7Advance to Branch Manager + Regional Manager + VP5-15 years experience. Higher pay + team management.
Career Progression
- β’Support LOs on documentation + processing
- β’Learning products + LOS
- β’Building experience
- β’Independent loan origination
- β’Building book of business
- β’Client + realtor relationships
- β’Established book of business
- β’Sub-specialty focus
- β’Mentor junior LOs
- β’Lead 5-15 LOs + processors
- β’Recruit + retain top LOs
- β’P&L responsibility
- β’Multi-branch oversight
- β’Regional strategy + growth
- β’Executive team member
Interview Questions & Answers
5 free questions below. Career Kit unlocks 9 total plus resume bullets for every level.
Q1. Walk me through your loan origination volume.situational
Q2. How do you build referral relationships with realtors?situational
Q3. Tell me about a difficult loan you closed.behavioral
Q4. Why our company?culture
Q5. How do you handle a declined loan?situational
Resume Template β Loan Officer (3-6 yrs)
Copy these bullets into your resume as a starting point. Career Kit includes bullets for every level of the ladder.
- βΈNMLS-licensed Loan Officer, [Company]. 2024 volume: $32M in funded loans across 128 units.
- βΈSpecialty: first-time buyer + FHA/VA + jumbo. Building strong Latino community referral base.
- βΈClose rate 78% (industry benchmark 65%). Zero regulatory findings during annual audit.
- βΈPreceptor for 3 junior LOs + LO assistants.
What Gets You Rejected
- βWeak understanding of loan programs.
- βPoor sales or communication skills.
- βBad-mouthing prior employer.
- βMissing NMLS or state licensing.
- βCompliance violations in prior work.
- βWeak documentation habits.
Salary Negotiation Levers
- βCommission split + base draw.
- βSign-on bonus $5-30k in high-demand areas.
- βBook of business bring-along commission.
- βMarketing budget + technology.
- βRealtor + referral pipeline access.
- βContinuing education + licensing.
- βPTO + benefits (bank employees).
Loan Officer Resume Review β $29
Personalized resume review from someone who has hired loan officers. Purchase, email your resume to support@weblabra.com, and receive detailed written feedback within 7 days.
- β Occupation-specific critique (not generic)
- β Rewrite suggestions for weak bullets
- β Missing skills / keywords flagged
- β Formatting + ATS-readability feedback
- β 7-day turnaround, 100% refund if we miss it
Loan Officer Career Kit β $19
- β All 9 interview questions with expert answers
- β 10 real questions aggregated from Glassdoor, Blind, Reddit, LinkedIn
- β Interview format intel for 6 top employers
- β 3 copy-paste salary negotiation emails
- β Resume bullets for every level of the career ladder
- β 30β60β90 day plan for your first role
- β Cover letter templates specific to this occupation
- β Detailed salary negotiation script
- β Ranked list of certifications with cost + ROI
- β Downloadable PDF for offline access
- β Instant access, no expiration, no subscription
One-time purchase. 7-day refund guarantee.
Sample reviews β real customer reviews will appear here as they come in.
βThe interview question bank saved me. I got the exact question about 'walking through a DCF' at my Goldman Sachs superday, verbatim.β
β Anonymous, Financial Analyst
βCopy-paste negotiation emails are worth the price alone. I used the 'accepting with counter' template and got an extra $8k signing bonus.β
β Anonymous, Software Developer
βThe 30-60-90 day plan for a new grad RN was better than the orientation my hospital gave. Wish I'd bought this in nursing school.β
β Anonymous, Registered Nurse
Loan Officer Salary by State
Best Cities (cost-adjusted) βSalary Map β Click a state for details
Top Paying States
| State | Median | vs. National |
|---|---|---|
| Massachusetts | $101,600 | +32.5% |
| Connecticut | $95,730 | +24.8% |
| New York | $95,710 | +24.8% |
| Minnesota | $95,170 | +24.1% |
| Colorado | $94,520 | +23.2% |
| Oregon | $94,440 | +23.1% |
| New Jersey | $92,920 | +21.2% |
| District of Columbia | $92,890 | +21.1% |
| Vermont | $88,710 | +15.7% |
| Kansas | $86,970 | +13.4% |
Loan Officer Salary by Metro Area
| Metro Area | Median | vs. National |
|---|---|---|
| Enid, OK | $104,990 | +36.9% |
| Bridgeport-Stamford-Danbury, CT | $103,850 | +35.4% |
| Boston-Cambridge-Newton, MA-NH | $103,400 | +34.8% |
| San Francisco-Oakland-Fremont, CA | $103,000 | +34.3% |
| Minneapolis-St. Paul-Bloomington, MN-WI | $102,200 | +33.3% |
| New York-Newark-Jersey City, NY-NJ | $101,570 | +32.4% |
| Des Moines-West Des Moines, IA | $101,190 | +31.9% |
| Lawrence, KS | $100,480 | +31.0% |
| Denver-Aurora-Centennial, CO | $100,130 | +30.6% |
| Wichita, KS | $99,170 | +29.3% |