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Loan consultant salary
Average loan consultant salary
$38,876
Understanding Loan Consultant Salaries
The average salary for a loan consultant stands at approximately $38,876 per year, equating to around $19 per hour. This figure can vary significantly based on factors such as location, experience, and the specific financial institution. For instance, loan consultants working in metropolitan areas often see higher salaries compared to those in rural regions.
Salary Insights by Experience
Entry-level loan consultants typically earn less, while those with several years of experience can command higher wages. Industry standards suggest that experience plays a crucial role in salary advancement. Furthermore, specialists in niche fields like mortgage consulting may also experience increased earning potential due to the specialized nature of their work.
State-by-State Salary Breakdown
Geographic location is another major factor affecting salary. States like California and New York tend to offer higher salaries for loan consultants due to the cost of living and demand for financial services. In contrast, states with a lower cost of living may present lower salary averages.
Conclusion
Loan consulting offers a viable career path with competitive salaries. Understanding the nuances of this profession can help you make informed career choices that align with your financial goals.
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Where can a Loan Consultant earn more?
Loan consultant salaries by experience level
| Experience level | Avg. salary | Hourly rate |
|---|---|---|
| Entry-level loan consultant | $25,300 | $12.16 |
| Mid-level loan consultant | $41,600 | $20.00 |
| Senior-level loan consultant | $74,300 | $35.70 |
Loan consultant salary estimates from across the web
Average loan consultant salary by state
The highest-paying states for loan consultants are South Dakota, New Mexico, and New York. The lowest average loan consultant salary states are Indiana, Delaware, and Utah.
- State view
- County view
Highest paying states for loan consultants
| Rank | State | Avg. salary | Hourly rate |
|---|---|---|---|
| 1 | South Dakota | $50,978 | $24.51 |
| 2 | Minnesota | $45,774 | $22.01 |
| 3 | Wyoming | $44,926 | $21.60 |
| 4 | Montana | $44,357 | $21.33 |
| 5 | Rhode Island | $44,071 | $21.19 |
| 6 | Maine | $47,809 | $22.99 |
| 7 | New Jersey | $45,926 | $22.08 |
| 8 | Arkansas | $48,155 | $23.15 |
| 9 | Vermont | $44,081 | $21.19 |
| 10 | North Dakota | $42,829 | $20.59 |
| 11 | New Mexico | $48,612 | $23.37 |
| 12 | Pennsylvania | $42,965 | $20.66 |
| 13 | North Carolina | $41,878 | $20.13 |
| 14 | New York | $48,212 | $23.18 |
| 15 | Washington | $44,353 | $21.32 |
| 16 | Florida | $40,721 | $19.58 |
| 17 | Oklahoma | $39,105 | $18.80 |
| 18 | Hawaii | $45,104 | $21.68 |
| 19 | Maryland | $45,537 | $21.89 |
| 20 | Colorado | $40,956 | $19.69 |
| 21 | Iowa | $40,472 | $19.46 |
| 22 | Michigan | $40,213 | $19.33 |
| 23 | District of Columbia | $41,960 | $20.17 |
| 24 | Ohio | $38,694 | $18.60 |
| 25 | Nebraska | $41,266 | $19.84 |
| 26 | Missouri | $38,502 | $18.51 |
| 27 | South Carolina | $40,934 | $19.68 |
| 28 | California | $41,983 | $20.18 |
| 29 | Kansas | $39,158 | $18.83 |
| 30 | Connecticut | $40,865 | $19.65 |
| 31 | Oregon | $40,235 | $19.34 |
| 32 | Kentucky | $38,622 | $18.57 |
| 33 | West Virginia | $38,765 | $18.64 |
| 34 | New Hampshire | $40,347 | $19.40 |
| 35 | Idaho | $35,771 | $17.20 |
| 36 | Massachusetts | $39,689 | $19.08 |
| 37 | Illinois | $36,698 | $17.64 |
| 38 | Arizona | $34,028 | $16.36 |
| 39 | Wisconsin | $37,224 | $17.90 |
| 40 | Alaska | $35,529 | $17.08 |
| 41 | Texas | $35,338 | $16.99 |
| 42 | Alabama | $31,341 | $15.07 |
| 43 | Georgia | $35,934 | $17.28 |
| 44 | Utah | $32,938 | $15.84 |
| 45 | Mississippi | $30,290 | $14.56 |
| 46 | Tennessee | $34,766 | $16.71 |
| 47 | Delaware | $33,057 | $15.89 |
| 48 | Indiana | $33,263 | $15.99 |
| 49 | Louisiana | $34,932 | $16.79 |
| 50 | Nevada | $31,654 | $15.22 |
| 51 | Virginia | $36,106 | $17.36 |
Highest paying cities for loan consultants
The highest-paying cities for loan consultants are Sioux Falls, SD, New York, NY, and Minneapolis, MN.
| Rank | City | Avg. salary | Hourly rate |
|---|---|---|---|
| 1 | Sioux Falls, SD | $50,912 | $24.48 |
| 2 | New York, NY | $48,281 | $23.21 |
| 3 | Minneapolis, MN | $45,755 | $22.00 |
| 4 | Columbia, MD | $45,608 | $21.93 |
| 5 | Spokane, WA | $44,383 | $21.34 |
| 6 | Livermore, CA | $43,080 | $20.71 |
| 7 | Washington, DC | $42,054 | $20.22 |
| 8 | Thornton, CO | $41,032 | $19.73 |
| 9 | Stratford, CT | $40,933 | $19.68 |
| 10 | Miami, FL | $40,907 | $19.67 |
| 11 | Charleston, SC | $40,862 | $19.65 |
| 12 | Detroit, MI | $40,178 | $19.32 |
| 13 | Boston, MA | $39,707 | $19.09 |
| 14 | Arlington, VA | $36,813 | $17.70 |
| 15 | Chicago, IL | $36,801 | $17.69 |
| 16 | Duluth, GA | $36,004 | $17.31 |
| 17 | Houston, TX | $35,381 | $17.01 |
| 18 | Cleveland, TN | $34,687 | $16.68 |
| 19 | Phoenix, AZ | $34,162 | $16.42 |
Loan consultant salary details
A loan consultant's salary ranges from $27,000 a year at the 10th percentile to $54,000 at the 90th percentile.
What is a loan consultant's salary?
| Percentile | Annual salary | Monthly salary | Hourly rate |
|---|---|---|---|
| 90th Percentile | $54,000 | $4,500 | $26 |
| 75th Percentile | $46,000 | $3,833 | $22 |
| Average | $38,876 | $3,240 | $19 |
| 25th Percentile | $32,000 | $2,667 | $15 |
| 10th Percentile | $27,000 | $2,250 | $13 |
Highest paying loan consultant jobs
The highest paying types of loan consultants are consultant, commercial loan officer, and senior underwriter.
| Job title | Annual salary | Monthly salary | Hourly rate | Job openings |
|---|---|---|---|---|
| Mortgage Banker | $27,331 | $2,278 | $13.14 | 24,297 |
| Commercial Loan Officer | $70,876 | $5,906 | $34.07 | 91,582 |
| Loan Administrator | $42,859 | $3,572 | $20.61 | 63,708 |
| Loan Officer | $45,817 | $3,818 | $22.03 | 63,663 |
| Loan Officer/Loan Processor | $46,753 | $3,896 | $22.48 | 71,801 |
| Loan Originator | $41,291 | $3,441 | $19.85 | 10,716 |
Top companies hiring loan consultants now:
Which companies pay loan consultants the most?
Loan consultant salaries at Accion and Taylor Morrison are the highest-paying according to our most recent salary estimates. In addition, the average loan consultant salary at companies like Tower Federal Credit Union and Divvy are highly competitive.
| Rank | Company | Average salary | Hourly rate |
|---|---|---|---|
| 1 | Accion | $48,365 | $23.25 |
| 2 | Taylor Morrison | $43,073 | $20.71 |
| 3 | Tower Federal Credit Union | $43,072 | $20.71 |
| 4 | Divvy | $41,944 | $20.17 |
| 5 | Milo | $41,887 | $20.14 |
| 6 | OE Federal Credit Union | $41,887 | $20.14 |
| 7 | CircleSquare | $41,887 | $20.14 |
| 8 | Divvy Homes | $41,873 | $20.13 |
| 9 | Sikorsky Credit Union | $41,439 | $19.92 |
| 10 | Feldman | $39,870 | $19.17 |
| 11 | Randstad North America, Inc. | $39,241 | $18.87 |
| 12 | Lendmark Financial | $39,150 | $18.82 |
| 13 | Robert Half | $39,024 | $18.76 |
| 14 | New American Funding | $38,281 | $18.40 |
| 15 | loanDepot | $38,278 | $18.40 |
| 16 | Justice Federal Credit Union | $37,429 | $17.99 |
| 17 | Mid Minnesota Federal Credit Union | $36,816 | $17.70 |
| 18 | Patelco Credit Union | $34,899 | $16.78 |
| 19 | Wells Fargo | $34,082 | $16.39 |
| 20 | Staffing.com | $33,970 | $16.33 |
Wage gap by gender, race and education
Loan consultant salary trends
The average loan consultant salary has risen by $3,604 over the last ten years. In 2014, the average loan consultant earned $35,272 annually, but today, they earn $38,876 a year. That works out to a 0% change in pay for loan consultants over the last decade.
Compare loan consultant salaries for cities or states with the national average over time.
Average loan consultant salary over time
Compare loan consultant salaries for individual cities or states with the national average.
Loan consultant salary by year
| Year | Avg. salary | Hourly rate | % Change |
|---|---|---|---|
| 2026 | $38,900 | $18.69 | +1.1% |
| 2025 | $38,500 | $18.49 | +0.4% |
| 2024 | $38,300 | $18.42 | -2.6% |
| 2023 | $39,300 | $18.90 | +1.6% |
| 2022 | $38,700 | $18.60 | +0.3% |
Recently added loan consultant salaries
| Company | Job | Location | Date added | Salary |
|---|---|---|---|---|
| Alliant Credit Union | Loan Consultant-Hybrid | Chicago, IL | 06/29/2025 | $48,000 |
| New American Funding | JR. Loan Consultant | Syosset, NY | 06/26/2025 | $41,740 |
| Onemain Financial | Bilingual Loan Consultant | Chico, CA | 06/23/2025 | $39,653 |
| MTC Federal Credit Union | Member Loan Consultant | Ardmore, OK | 06/15/2025 | $37,128 |
| Loandepot | Internal Loan Consultant | Cottonwood Heights, UT | 05/17/2025 | $31,305 |
| Onemain Financial | Personal Loan Consultant | Saint Paul, MN | 04/29/2025 | $37,566 |
| Onemain Financial | Personal Loan Consultant | Amherst, NY | 04/29/2025 | $35,479 |
| Pultegroup | Loan Consultant Trainee-(Pulte Mortgage) | Englewood, CO | 03/28/2025 | $50,171 |
| Achieve | Loan Consultant I | Phoenix, AZ | 03/27/2025 | $55,000 |
| Pulte Mortgage | Loan Consultant Trainee-(Pulte Mortgage) | Englewood, CO | 03/10/2025 | $50,171 |
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