Loan Officer Salary in the United States (2026)
Based on U.S. Bureau of Labor Statistics data · Updated 2026 · Medium Demand
| State | Avg Salary | vs National | Demand |
|---|---|---|---|
| Hawaii | $123,504 | +55.0% | Medium |
| District of Columbia | $121,114 | +52.0% | Medium |
| California | $113,146 | +42.0% | Medium |
| New York | $109,958 | +38.0% | Medium |
| Alaska | $105,178 | +32.0% | Medium |
| Massachusetts | $103,584 | +30.0% | Medium |
| New Jersey | $101,990 | +28.0% | Medium |
| Washington | $99,600 | +25.0% | Medium |
| Connecticut | $97,210 | +22.0% | Medium |
| Maryland | $91,632 | +15.0% | Medium |
| Rhode Island | $91,632 | +15.0% | Medium |
| New Hampshire | $90,835 | +14.0% | Medium |
| Oregon | $89,242 | +12.0% | Medium |
| Colorado | $87,648 | +10.0% | Medium |
| Virginia | $87,648 | +10.0% | Medium |
| Vermont | $86,054 | +8.0% | Medium |
| Delaware | $83,664 | +5.0% | Medium |
| Illinois | $83,664 | +5.0% | Medium |
| Maine | $81,274 | +2.0% | Medium |
| Nevada | $81,274 | +2.0% | Medium |
| Minnesota | $79,680 | +0.0% | Medium |
| Utah | $79,680 | +0.0% | Medium |
| Arizona | $78,883 | -1.0% | Medium |
| Pennsylvania | $78,883 | -1.0% | Medium |
| Florida | $78,086 | -2.0% | Medium |
| Montana | $75,696 | -5.0% | Medium |
| Texas | $75,696 | -5.0% | Medium |
| Georgia | $74,102 | -7.0% | Medium |
| Idaho | $74,102 | -7.0% | Medium |
| Wyoming | $74,102 | -7.0% | Medium |
| North Dakota | $73,306 | -8.0% | Medium |
| Wisconsin | $73,306 | -8.0% | Medium |
| North Carolina | $72,509 | -9.0% | Medium |
| Michigan | $71,712 | -10.0% | Medium |
| Louisiana | $70,118 | -12.0% | Medium |
| Nebraska | $70,118 | -12.0% | Medium |
| New Mexico | $70,118 | -12.0% | Medium |
| Ohio | $70,118 | -12.0% | Medium |
| South Carolina | $70,118 | -12.0% | Medium |
| Tennessee | $70,118 | -12.0% | Medium |
| Alabama | $69,322 | -13.0% | Medium |
| Missouri | $69,322 | -13.0% | Medium |
| South Dakota | $69,322 | -13.0% | Medium |
| Iowa | $68,525 | -14.0% | Medium |
| Indiana | $67,728 | -15.0% | Medium |
| Kansas | $67,728 | -15.0% | Medium |
| Oklahoma | $66,931 | -16.0% | Medium |
| Arkansas | $66,134 | -17.0% | Medium |
| Kentucky | $66,134 | -17.0% | Medium |
| Mississippi | $63,744 | -20.0% | Medium |
| West Virginia | $62,150 | -22.0% | Medium |
A Loan Officer's salary is influenced by several key factors including geographic location, years of experience, employer type, and educational background. States with higher costs of living — such as California, New York, and Washington — typically offer 20–40% higher salaries than the national average to compensate for living expenses.
Experience plays a major role in compensation. Entry-level Loan Officers typically earn $41,936–$62,118 per year, while senior professionals with 10+ years of experience can command $107,527–$126,776 annually. Specialization and advanced certifications can further boost earning potential.
Employer size also matters. Large corporations and government agencies tend to offer more competitive packages including benefits, retirement plans, and bonuses. The Loan Officer role currently has medium demand in the job market with a 2.2% growth rate, making it one of the steadily growing careers in the Finance sector.
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What is the average salary for a Loan Officer?The average salary for a Loan Officer in the United States is $79,680 per year, with a median of $65,630.
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What is the starting salary for a Loan Officer?Entry-level Loan Officers typically earn between $41,936 and $62,118 per year depending on location and employer.
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What state pays Loan Officers the most?California, New York, and Washington typically pay Loan Officers the highest salaries due to high cost of living and strong job markets.
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How much does a Loan Officer make per hour?Based on the average annual salary of $79,680, a Loan Officer earns approximately $38.31 per hour (based on 2,080 working hours/year).
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Is Loan Officer a good career in 2026?Yes — the Loan Officer role has medium demand with 2.2% year-over-year salary growth, indicating a strong and growing career path.