Loan Officer Salary in 2026
Evaluate, authorize, and recommend approval of loan applications for individuals and businesses.
Median Salary
$76,690
$6,391/mo
Entry Level
$47,400
starting pay
Senior Level
$118,400
experienced
Job Growth
+3%
10-yr outlook
BLS OEWS May 2025 · official national figures
BLS reports Loan Officers (SOC 13-2072) at a national median of $76,690 per year (mean $87,790), or $36.87 per hour, with 274,330 people employed nationwide. The median above is this BLS figure; the entry, senior and top tiers are Salario estimates calibrated to it. Source: BLS Occupational Employment and Wage Statistics, May 2025 release.
Loan Officer Overview
Evaluate, authorize, and recommend approval of loan applications for individuals and businesses.
Education
Bachelor's Degree
Experience
1-3 years
Industry
Finance
Total Jobs (US)
274K
5-Year Growth
+12%
Category
Finance
Hourly Rate
$36.87/hr
Monthly Pay
$6,391
Reviewed May 18, 2026
2026 Loan Officer Salary Market Notes
Market context
Loan officer compensation splits between mortgage, commercial, consumer, and underwriting-focused roles. Mortgage loan officers often have more commission exposure and licensing requirements, while commercial and relationship roles depend heavily on portfolio quality and referral networks.
What drives higher pay
The strongest salary drivers are NMLS licensing, loan volume, credit analysis, underwriting fluency, real estate referral relationships, commercial lending experience, regulatory compliance, and the ability to convert qualified borrowers without creating default risk.
Location note
New York, Los Angeles, Houston, Chicago, and Miami reflect different lending mixes: mortgage volume matters in residential markets, while commercial-bank and business-lending roles can price differently in finance-heavy metros.
Career move
A practical salary move is to specialize: mortgage origination for commission upside, commercial lending for relationship banking, or underwriting/credit risk for steadier career paths. Track funded volume, pull-through rate, and default quality as proof points.
Use BLS Loan Officers as the occupation baseline, then separate mortgage originator, commercial lender, consumer lender, and underwriter postings because pay mix can shift between salary, bonus, and commission.
Loan Officer Salary Calculator
Adjust your state and experience level to see the estimated Loan Officer salary in your area.
Mid Career (5-9 yrs)
Estimated Loan Officer Salary
$94,000
$7,833/month · $3,615/biweekly · $45.19/hr
Loan Officer Salary Range
Salary distribution from entry-level to top earners in the Loan Officer field.
Entry-level Loan Officers earn around $47,400, while the top 10% earn $138,150 or more.
Top Paying States for Loan Officers
| State | Est. Median Salary | vs National |
|---|---|---|
| California | $90,000 | +$13,310 |
| New York | $88,000 | +$11,310 |
| Illinois | $80,000 | +$3,310 |
| Texas | $75,000 | $-1,690 |
| Florida | $75,000 | $-1,690 |
Top Paying Cities for Loan Officers
| City | Est. Median Salary | vs National |
|---|---|---|
| New York | $90,000 | +$13,310 |
| Los Angeles | $86,000 | +$9,310 |
| Chicago | $81,000 | +$4,310 |
| Miami | $78,000 | +$1,310 |
| Houston | $76,000 | $-690 |
City figures are Salario estimates that scale the national median by a city cost-of-labor multiplier; BLS does not publish a metro-level series for this title.
Required Skills & Certifications
Key Skills
Certifications
Loan Officer Career Progression
Typical salary growth path for a Loan Officer from entry level to expert.
$47,400
0-2 years
$83,000
3-7 years
$118,400
8-14 years
$157,900
15+ years
Related Finance Jobs
Loan Officer Salary FAQ
How much does a Loan Officer make in 2026?
The median salary for a Loan Officer in the United States is $76,690 per year, the BLS OEWS May 2025 national median for Loan Officers (SOC 13-2072); the mean is $87,790. Salario's calibrated tiers put entry-level positions around $47,400, senior professionals around $118,400, and top earners at $157,900 or more annually.
What education is needed to become a Loan Officer?
A Loan Officer typically requires a Bachelor's Degree with 1-3 years of experience. Key skills include Mortgage Lending, Credit Analysis, Customer Service. Relevant certifications such as NMLS License can boost earning potential and career advancement.
What is the job outlook for Loan Officers?
The job market for Loan Officers is projected to grow by 3% over the next decade. There are currently approximately 274K Loan Officer positions in the US. Salary growth over the past 5 years has been approximately 12%, reflecting moderate demand for this role.
Which states pay Loan Officers the most?
The highest-paying states for Loan Officers include California, New York, Texas. In California, the median salary is approximately $90,000. However, cost of living varies significantly, so adjusted purchasing power should be considered when comparing salaries across states.
How can I increase my Loan Officer salary?
To increase your Loan Officer salary, focus on gaining expertise in high-demand skills like Mortgage Lending and Credit Analysis. Pursue certifications such as NMLS License. Consider relocating to higher-paying markets like New York. With 1-3 years of experience, you can progress from $47,400 to $118,400 or more.
Methodology & Data Sources: Loan Officer Salary
How we calculate Loan Officer salary data: The national median is the official BLS OEWS May 2025 annual median wage for Loan Officers (SOC 13-2072), retrieved from the BLS Public Data API. The entry, senior and top tiers are a Salario model: the shape of the distribution is Salario's, rescaled so that its median equals the BLS median. State and most city figures are Salario estimates that apply cost-of-labor multipliers to that median.
- National median salary: $76,690, BLS OEWS May 2025 annual median for Loan Officers; BLS mean $87,790; BLS hourly median $36.87.
- Entry-level ($47,400) and senior-level ($118,400) are Salario tiers calibrated to the BLS median; they are not BLS percentiles. BLS publishes P10/P25/P75/P90 wages for this occupation in its OEWS tables.
- Job outlook: +3% projected growth is Salario's outlook figure; compare with the BLS Employment Projections program. BLS OEWS May 2025 counts 274,330 Loan Officers jobs nationwide.
- 5-year salary growth: 12% is a Salario estimate of past 5-year wage growth for the Finance sector, informed by the BLS Employment Cost Index.
- Education requirement: Bachelor's Degree, per BLS Occupational Outlook Handbook entry for this occupation.
- State and city estimates apply Salario cost-of-labor multipliers to the national median of $76,690; city rows marked "BLS metro" are real OEWS metropolitan-area medians instead.
Authoritative US data sources for Loan Officer compensation:
- BLS Occupational Employment and Wage Statistics (OEWS), national and metro-area salary data
- BLS Occupational Outlook Handbook, Loan Officer job projections, education, and career outlook
- BLS Employment Projections, 10-year occupation growth and decline data
- BLS Employment Cost Index, quarterly compensation trend data for Finance
- BLS Consumer Price Index (CPI-U), regional inflation for cost-of-living wage adjustments
- IRS Revenue Procedure 2025-32 summary, 2026 federal tax brackets and standard deductions
Disclaimer: Loan Officer salary figures are statistical estimates for general guidance. Actual compensation depends on employer, location, negotiation, specific skills (Mortgage Lending, Credit Analysis, Customer Service), certifications, and industry conditions. Always verify with multiple sources including current job listings, recruiter data, and direct employer offers before making career decisions.
Reviewed by Harlan Voss · Last updated May 17, 2026 · BLS figures: OEWS May 2025 release (published May 2026), retrieved from the BLS API on September 17, 2026
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