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Lender salary
Average lender salary
$37,723
Understanding Lender Salaries
The average salary for a lender in the United States is around $37,723 annually. This figure can vary significantly depending on several factors, including geographic location, years of experience, and the specific sector within the lending field. For instance, lenders in metropolitan areas typically earn higher salaries compared to their counterparts in rural regions.
Experience plays a crucial role in determining salary. Entry-level lenders may start at lower pay, while those with several years of experience can command salaries significantly above the average. Additionally, specialization in areas such as mortgage lending or commercial lending can lead to higher compensation.
To find the best opportunities, consider the states and cities that offer competitive salaries for lenders. States like California, New York, and Texas often provide higher pay scales due to the cost of living and demand for financial services. Furthermore, cities known for their financial hubs tend to offer more lucrative positions.
For those seeking to advance in their careers, understanding these dynamics can assist in making informed career decisions. Explore job listings and salary insights to identify your next opportunity in the lending industry.
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Where can a Lender earn more?
Lender salaries by experience level
| Experience level | Avg. salary | Hourly rate |
|---|---|---|
| Entry-level lender | $24,500 | $11.80 |
| Mid-level lender | $40,400 | $19.41 |
| Senior-level lender | $72,100 | $34.64 |
Average lender salary by state
The highest-paying states for lenders are South Dakota, Hawaii, and Washington. The lowest average lender salary states are Louisiana, Tennessee, and North Carolina.
- State view
- County view
Highest paying states for lenders
| Rank | State | Avg. salary | Hourly rate |
|---|---|---|---|
| 1 | South Dakota | $52,962 | $25.46 |
| 2 | Minnesota | $50,191 | $24.13 |
| 3 | Maine | $47,679 | $22.92 |
| 4 | Wyoming | $46,590 | $22.40 |
| 5 | Rhode Island | $44,996 | $21.63 |
| 6 | Michigan | $45,365 | $21.81 |
| 7 | Washington | $50,925 | $24.48 |
| 8 | North Dakota | $44,880 | $21.58 |
| 9 | New Mexico | $50,218 | $24.14 |
| 10 | Iowa | $46,758 | $22.48 |
| 11 | Hawaii | $52,208 | $25.10 |
| 12 | Wisconsin | $47,373 | $22.78 |
| 13 | Arkansas | $47,473 | $22.82 |
| 14 | Vermont | $44,958 | $21.61 |
| 15 | Nebraska | $46,968 | $22.58 |
| 16 | Illinois | $44,173 | $21.24 |
| 17 | Texas | $41,955 | $20.17 |
| 18 | Montana | $46,881 | $22.54 |
| 19 | Delaware | $43,489 | $20.91 |
| 20 | Maryland | $45,007 | $21.64 |
| 21 | Ohio | $39,208 | $18.85 |
| 22 | New York | $43,444 | $20.89 |
| 23 | Missouri | $43,117 | $20.73 |
| 24 | Massachusetts | $45,495 | $21.87 |
| 25 | Kansas | $39,693 | $19.08 |
| 26 | Florida | $39,531 | $19.01 |
| 27 | California | $43,334 | $20.83 |
| 28 | Oregon | $43,564 | $20.94 |
| 29 | Connecticut | $41,510 | $19.96 |
| 30 | Idaho | $37,730 | $18.14 |
| 31 | New Hampshire | $41,178 | $19.80 |
| 32 | Kentucky | $38,056 | $18.30 |
| 33 | West Virginia | $38,292 | $18.41 |
| 34 | South Carolina | $36,956 | $17.77 |
| 35 | Oklahoma | $39,269 | $18.88 |
| 36 | Utah | $34,081 | $16.39 |
| 37 | Pennsylvania | $35,414 | $17.03 |
| 38 | District of Columbia | $41,420 | $19.91 |
| 39 | Arizona | $32,198 | $15.48 |
| 40 | New Jersey | $35,933 | $17.28 |
| 41 | Colorado | $34,938 | $16.80 |
| 42 | Alaska | $37,578 | $18.07 |
| 43 | North Carolina | $33,435 | $16.07 |
| 44 | Georgia | $36,414 | $17.51 |
| 45 | Nevada | $32,966 | $15.85 |
| 46 | Tennessee | $33,541 | $16.13 |
| 47 | Indiana | $33,746 | $16.22 |
| 48 | Alabama | $35,038 | $16.85 |
| 49 | Mississippi | $33,237 | $15.98 |
| 50 | Louisiana | $33,596 | $16.15 |
| 51 | Virginia | $34,483 | $16.58 |
Highest paying cities for lenders
The highest-paying cities for lenders are Seattle, WA, Shoreview, MN, and Appleton, WI.
| Rank | City | Avg. salary | Hourly rate |
|---|---|---|---|
| 1 | Seattle, WA | $51,147 | $24.59 |
| 2 | Shoreview, MN | $50,252 | $24.16 |
| 3 | Appleton, WI | $47,788 | $22.98 |
| 4 | Omaha, NE | $47,062 | $22.63 |
| 5 | Little Rock, AR | $47,053 | $22.62 |
| 6 | Sioux City, IA | $46,900 | $22.55 |
| 7 | Boston, MA | $45,402 | $21.83 |
| 8 | Troy, MI | $45,391 | $21.82 |
| 9 | San Francisco, CA | $44,758 | $21.52 |
| 10 | Bismarck, ND | $44,652 | $21.47 |
| 11 | Orland Park, IL | $44,187 | $21.24 |
| 12 | New York, NY | $43,383 | $20.86 |
| 13 | Columbia, MO | $43,372 | $20.85 |
| 14 | Plano, TX | $42,012 | $20.20 |
| 15 | Oklahoma City, OK | $39,238 | $18.86 |
| 16 | Newark, OH | $38,903 | $18.70 |
| 17 | Columbia, SC | $37,131 | $17.85 |
| 18 | Denver, CO | $35,013 | $16.83 |
| 19 | Richmond, VA | $34,348 | $16.51 |
| 20 | Salt Lake City, UT | $34,197 | $16.44 |
Lender salary details
A lender's salary ranges from $25,000 a year at the 10th percentile to $55,000 at the 90th percentile.
What is a lender's salary?
| Percentile | Annual salary | Monthly salary | Hourly rate |
|---|---|---|---|
| 90th Percentile | $55,000 | $4,583 | $26 |
| 75th Percentile | $46,000 | $3,833 | $22 |
| Average | $37,723 | $3,144 | $18 |
| 25th Percentile | $30,000 | $2,500 | $14 |
| 10th Percentile | $25,000 | $2,083 | $12 |
Highest paying lender jobs
The highest paying types of lenders are mortgage broker, bank officer, and senior underwriter.
| Job title | Annual salary | Monthly salary | Hourly rate | Job openings |
|---|---|---|---|---|
| Home Mortgage Consultant | $36,437 | $3,036 | $17.52 | 53,987 |
| Mortgage Consultant | $38,934 | $3,245 | $18.72 | 24,057 |
| Loan Consultant | $38,876 | $3,240 | $18.69 | 23,448 |
| Escrow Officer | $50,270 | $4,189 | $24.17 | 62,077 |
| Loan Analyst | $37,857 | $3,155 | $18.20 | 24,756 |
| Loan Officer/Loan Processor | $46,753 | $3,896 | $22.48 | 71,801 |
Which companies pay lenders the most?
Lender salaries at Citi and GPAC are the highest-paying according to our most recent salary estimates. In addition, the average lender salary at companies like Morgan Stanley and MRI The Boston Group are highly competitive.
| Rank | Company | Average salary | Hourly rate |
|---|---|---|---|
| 1 | Citi | $47,389 | $22.78 |
| 2 | GPAC | $47,107 | $22.65 |
| 3 | Morgan Stanley | $46,947 | $22.57 |
| 4 | MRI The Boston Group | $46,169 | $22.20 |
| 5 | Management Recruiters International(MRI) | $42,828 | $20.59 |
| 6 | Cambridge Trust | $42,009 | $20.20 |
| 7 | BancorpSouth | $41,192 | $19.80 |
| 8 | The Bank of San Antonio | $41,072 | $19.75 |
| 9 | Axis | $41,052 | $19.74 |
| 10 | First Western Bank & Trust | $40,893 | $19.66 |
| 11 | The Bank, Inc. | $40,893 | $19.66 |
| 12 | Defiance State Bank | $40,870 | $19.65 |
| 13 | Americorps | $40,791 | $19.61 |
| 14 | Grandbridge Real Estate Capital | $40,710 | $19.57 |
| 15 | The Citizens National Bank of Athens | $40,331 | $19.39 |
| 16 | Great Southern Bank | $40,075 | $19.27 |
| 17 | Randstad North America, Inc. | $39,994 | $19.23 |
| 18 | Dahl Consulting | $39,893 | $19.18 |
| 19 | Robert Half | $39,763 | $19.12 |
| 20 | AUTOPAY Direct, Inc. | $39,396 | $18.94 |
Wage gap by gender, race and education
Lender salary trends
The average lender salary has risen by $3,498 over the last ten years. In 2014, the average lender earned $34,225 annually, but today, they earn $37,723 a year. That works out to a 0% change in pay for lenders over the last decade.
Compare lender salaries for cities or states with the national average over time.
Average lender salary over time
Compare lender salaries for individual cities or states with the national average.
Lender salary by year
| Year | Avg. salary | Hourly rate | % Change |
|---|---|---|---|
| 2025 | $37,700 | $18.14 | +1.1% |
| 2024 | $37,300 | $17.94 | +0.4% |
| 2023 | $37,200 | $17.88 | -2.6% |
| 2022 | $38,100 | $18.33 | +1.6% |
| 2021 | $37,500 | $18.05 | +0.3% |
Recently added lender salaries
| Company | Job | Location | Date added | Salary |
|---|---|---|---|---|
| Rhinebeck Bank | Community Lender | Poughkeepsie, NY | 06/25/2025 | $80,000 |
| Experience Champaign Urbana | Mortgage Lender | Liberty, MO | 06/16/2025 | $50,000 |
| Glacier Bancorp | Consumer Lender II | Spokane, WA | 06/11/2025 | $42,116 |
| Old National Bank | Direct Banking Residential Lender | Lenexa, KS | 06/10/2025 | $24,000 |
| Bank of Springfield | Mortgage Lender | Liberty, MO | 06/10/2025 | $50,000 |
| Bank of Springfield | Mortgage Lender | Liberty, MO | 05/16/2025 | $50,000 |
| Bank of Springfield | Mortgage Lender | Liberty, MO | 04/28/2025 | $50,000 |
| CGB | AG Lender (Commission Eligible) | New York, NY | 04/20/2025 | $65,618 |
| United Prairie Bank | SBA Lender | Mankato, MN | 04/18/2025 | $84,000 |
| Figure | Lending Administration | Reno, NV | 04/17/2025 | $45,914 |
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