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Loan counselor salary
Average loan counselor salary
$49,002
Average Loan Counselor Salary
As of October 2025, the average Loan Counselor salary stands at $49,002 per year or approximately $24 per hour. This salary varies based on factors like experience, geographical location, and the specific industry. Entry-level counselors may start at lower salaries, while those with significant experience can command higher pay.
Loan Counselor Salaries by Experience Level
Entry-level loan counselors typically earn less, while those with several years in the field can see substantial salary increases. For instance, counselors with over five years of experience may earn upwards of $60,000 annually.
Highest Paying States for Loan Counselors
Geographic location significantly impacts salary potential. States such as California, New York, and Texas often provide the highest salaries for loan counselors, reflecting the demand and cost of living in these areas.
Opportunities for Loan Counselors
Loan counselors find opportunities in banks, credit unions, and financial services firms. Networking and gaining certifications can enhance career advancement prospects, leading to higher-paying positions and specialized roles.
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Where can a Loan Counselor earn more?
Loan counselor salaries by experience level
Loan counselor salary estimates from across the web
Average loan counselor salary by state
The average loan counselor salary in New York, Connecticut, and Rhode Island are the highest in the U.S. The lowest average loan counselor salary states are Idaho, Montana, and South Dakota.
- State view
- County view
Highest paying states for loan counselors
| Rank | State | Avg. salary | Hourly rate |
|---|---|---|---|
| 1 | Delaware | $56,367 | $27.10 |
| 2 | Connecticut | $56,911 | $27.36 |
| 3 | New York | $59,005 | $28.37 |
| 4 | North Dakota | $52,906 | $25.44 |
| 5 | Rhode Island | $56,687 | $27.25 |
| 6 | Alaska | $56,559 | $27.19 |
| 7 | Nevada | $53,869 | $25.90 |
| 8 | New Jersey | $54,326 | $26.12 |
| 9 | Utah | $52,155 | $25.07 |
| 10 | Vermont | $53,890 | $25.91 |
| 11 | Mississippi | $52,792 | $25.38 |
| 12 | Florida | $47,868 | $23.01 |
| 13 | New Hampshire | $54,985 | $26.44 |
| 14 | District of Columbia | $55,299 | $26.59 |
| 15 | Pennsylvania | $47,251 | $22.72 |
| 16 | Missouri | $51,253 | $24.64 |
| 17 | Colorado | $48,407 | $23.27 |
| 18 | Nebraska | $51,317 | $24.67 |
| 19 | South Carolina | $46,784 | $22.49 |
| 20 | California | $50,192 | $24.13 |
| 21 | Ohio | $46,974 | $22.58 |
| 22 | Iowa | $43,606 | $20.96 |
| 23 | West Virginia | $47,107 | $22.65 |
| 24 | Massachusetts | $51,564 | $24.79 |
| 25 | Kentucky | $45,451 | $21.85 |
| 26 | Wyoming | $41,764 | $20.08 |
| 27 | Minnesota | $42,410 | $20.39 |
| 28 | Hawaii | $44,962 | $21.62 |
| 29 | Illinois | $44,017 | $21.16 |
| 30 | Michigan | $43,765 | $21.04 |
| 31 | New Mexico | $44,146 | $21.22 |
| 32 | Arizona | $41,634 | $20.02 |
| 33 | Tennessee | $42,161 | $20.27 |
| 34 | Oregon | $44,616 | $21.45 |
| 35 | Alabama | $43,662 | $20.99 |
| 36 | Montana | $39,108 | $18.80 |
| 37 | Kansas | $43,177 | $20.76 |
| 38 | North Carolina | $43,327 | $20.83 |
| 39 | Maryland | $42,213 | $20.29 |
| 40 | Texas | $42,085 | $20.23 |
| 41 | Maine | $40,540 | $19.49 |
| 42 | Washington | $40,448 | $19.45 |
| 43 | Idaho | $39,475 | $18.98 |
| 44 | Louisiana | $40,282 | $19.37 |
| 45 | Wisconsin | $40,692 | $19.56 |
| 46 | South Dakota | $38,870 | $18.69 |
| 47 | Indiana | $40,180 | $19.32 |
| 48 | Virginia | $41,911 | $20.15 |
| 49 | Georgia | $38,739 | $18.62 |
| 50 | Arkansas | $37,061 | $17.82 |
| 51 | Oklahoma | $38,031 | $18.28 |
Highest paying cities for loan counselors
The highest-paying cities for loan counselors are New York, NY, Fort Lee, NJ, and Boston, MA.
| Rank | City | Avg. salary | Hourly rate |
|---|---|---|---|
| 1 | New York, NY | $59,094 | $28.41 |
| 2 | Fort Lee, NJ | $54,398 | $26.15 |
| 3 | Boston, MA | $51,501 | $24.76 |
| 4 | San Diego, CA | $50,331 | $24.20 |
| 5 | Miami, FL | $48,560 | $23.35 |
| 6 | Colorado Springs, CO | $48,466 | $23.30 |
| 7 | Williamsport, PA | $46,882 | $22.54 |
| 8 | Houston, TX | $42,538 | $20.45 |
| 9 | Minneapolis, MN | $42,435 | $20.40 |
| 10 | Brentwood, TN | $42,080 | $20.23 |
| 11 | Rockville, MD | $42,054 | $20.22 |
| 12 | Chandler, AZ | $41,685 | $20.04 |
| 13 | SeaTac, WA | $40,554 | $19.50 |
| 14 | Rapid City, SD | $38,743 | $18.63 |
| 15 | Duluth, GA | $38,585 | $18.55 |
| 16 | Oklahoma City, OK | $38,072 | $18.30 |
Loan counselor salary details
A loan counselor's salary ranges from $37,000 a year at the 10th percentile to $63,000 at the 90th percentile.
What is a loan counselor's salary?
| Percentile | Annual salary | Monthly salary | Hourly rate |
|---|---|---|---|
| 90th Percentile | $63,000 | $5,250 | $30 |
| 75th Percentile | $56,000 | $4,667 | $27 |
| Average | $49,002 | $4,084 | $24 |
| 25th Percentile | $42,000 | $3,500 | $20 |
| 10th Percentile | $37,000 | $3,083 | $18 |
Highest paying loan counselor jobs
The highest paying types of loan counselors are savings counselor, loan officer, and mortgage loan counselor.
| Job title | Annual salary | Monthly salary | Hourly rate | Job openings |
|---|---|---|---|---|
| Finance Aid Officer | $38,163 | $3,180 | $18.35 | 146,154 |
| Finance Aid Advisor | $37,791 | $3,149 | $18.17 | 127,378 |
| Finance Aid Coordinator | $38,925 | $3,244 | $18.71 | 98,992 |
| Loan Officer | $45,817 | $3,818 | $22.03 | 63,663 |
| Loan Adviser | $40,365 | $3,364 | $19.41 | 24,189 |
| Loan Manager | $39,623 | $3,302 | $19.05 | 11,965 |
Top companies hiring loan counselors now:
Which companies pay loan counselors the most?
Loan counselor salaries at Mortgage Inv. Group and Fairway Independent Mortgage are the highest-paying according to our most recent salary estimates. In addition, the average loan counselor salary at companies like CTBC Bank and Genuent are highly competitive.
| Rank | Company | Average salary | Hourly rate |
|---|---|---|---|
| 1 | Mortgage Inv. Group | $59,277 | $28.50 |
| 2 | Fairway Independent Mortgage | $59,050 | $28.39 |
| 3 | CTBC Bank | $53,960 | $25.94 |
| 4 | Genuent | $53,680 | $25.81 |
| 5 | MidFirst Bank | $53,449 | $25.70 |
| 6 | Great Eastern Bank | $52,662 | $25.32 |
| 7 | Metro Bank | $50,818 | $24.43 |
| 8 | MetroBank N.A. | $50,746 | $24.40 |
| 9 | United Bank | $50,693 | $24.37 |
| 10 | China Trust Bank | $49,693 | $23.89 |
| 11 | NEW MILLENNIUM ASSOC. INC. | $49,534 | $23.81 |
| 12 | Pace Inc | $48,517 | $23.33 |
| 13 | Shinhan Bank America | $48,482 | $23.31 |
| 14 | Sterling National Bank | $48,471 | $23.30 |
| 15 | Pacific City Bank | $48,323 | $23.23 |
| 16 | Univ Of Colorado-Colorado Spgs | $48,300 | $23.22 |
| 17 | Hana Financial | $47,624 | $22.90 |
| 18 | BenefitMall | $47,098 | $22.64 |
| 19 | Robert Half | $46,426 | $22.32 |
| 20 | Industrial and Commercial Bank of China | $45,928 | $22.08 |
Wage gap by gender, race and education
Loan counselor salary trends
The average loan counselor salary has risen by $8,214 over the last ten years. In 2014, the average loan counselor earned $40,788 annually, but today, they earn $49,002 a year. That works out to a 4% change in pay for loan counselors over the last decade.
Compare loan counselor salaries for cities or states with the national average over time.
Average loan counselor salary over time
Compare loan counselor salaries for individual cities or states with the national average.
Loan counselor salary by year
| Year | Avg. salary | Hourly rate | % Change |
|---|---|---|---|
| 2025 | $49,000 | $23.56 | +0.5% |
| 2024 | $48,800 | $23.45 | +1.7% |
| 2023 | $48,000 | $23.05 | +1.0% |
| 2022 | $47,500 | $22.81 | +0.7% |
| 2021 | $47,100 | $22.65 | +1.2% |
Recently added loan counselor salaries
| Company | Job | Location | Date added | Salary |
|---|---|---|---|---|
| Pace | Business & Loan Counselor II for Nonprofit | Los Angeles, CA | 06/18/2025 | $80,000 |
| Cascade Financial Services | Loan Counselor/Late Stage Collections | Rapid City, SD | 06/14/2025 | $45,914 |
| Cascade Financial Services | Loan Counselor/Late Stage Collections | Chandler, AZ | 06/13/2025 | $45,914 |
| Southwest Stage Funding LLC, Cascade Financial Services | Loan Counselor/Late Stage Collections | Rapid City, SD | 06/13/2025 | $45,914 |
| Southwest Stage Funding LLC, Cascade Financial Services | Loan Counselor/Late Stage Collections | Chandler, AZ | 06/13/2025 | $45,914 |
| Pennymac | Default Loan Counselor II | Moorpark, CA | 06/12/2025 | $40,000 |
| Pennymac | Loan Counselor I | Fort Worth, TX | 06/12/2025 | $39,000 |
| CMC Group | Student Loan Counselor Hybrid | Minneapolis, MN | 05/27/2025 | $37,566 |
| Pennymac | Loan Counselor II | Fort Worth, TX | 05/23/2025 | $40,000 |
| Pennymac | Collections Loan Counselor | Moorpark, CA | 05/20/2025 | $40,000 |
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