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Loan officer/loan processor salary
Average loan officer/loan processor salary
$46,753
Understanding Loan Officer/Loan Processor Salaries
As of October 2025, the average salary for a Loan Officer or Loan Processor stands at $46,753 annually. Salaries are influenced by several factors, including geographic location, years of experience, and specific job responsibilities. For instance, entry-level positions may start lower, while seasoned professionals can earn significantly more due to their expertise.
Salary Breakdown by Experience Level
Entry-level loan officers typically make less, while those with several years of experience often command higher salaries. In addition, specialized roles within the industry, such as commercial loan officers, generally offer better compensation compared to residential loan processing.
Regional Salary Variations
Geographic location plays a vital role in salary determination. States like California and New York frequently offer higher salaries due to the cost of living and demand for housing. Conversely, rural areas may present lower salary ranges. Understanding these dynamics helps aspiring loan officers make informed career choices.
Job Opportunities
Beyond salaries, there are numerous job opportunities in the sector. Organizations across various states are seeking qualified candidates to fill roles, making this a promising career path for those interested in finance and customer service.
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Where can a Loan Officer/Loan Processor earn more?
Loan officer/loan processor salaries by experience level
| Experience level | Avg. salary | Hourly rate |
|---|---|---|
| Entry-level loan officer/loan processor | $30,400 | $14.62 |
| Mid-level loan officer/loan processor | $50,000 | $24.05 |
| Senior-level loan officer/loan processor | $89,300 | $42.94 |
Average loan officer/loan processor salary by state
The highest-paying states for loan officers/loan processor are New Jersey, New Mexico, and Maryland. The lowest average loan officer/loan processor salary states are Nevada, Indiana, and Utah.
- State view
- County view
Highest paying states for loan officers/loan processor
| Rank | State | Avg. salary | Hourly rate |
|---|---|---|---|
| 1 | New Jersey | $59,402 | $28.56 |
| 2 | Rhode Island | $57,567 | $27.68 |
| 3 | Maine | $56,247 | $27.04 |
| 4 | New Mexico | $58,731 | $28.24 |
| 5 | South Dakota | $56,166 | $27.00 |
| 6 | Maryland | $58,091 | $27.93 |
| 7 | New York | $56,146 | $26.99 |
| 8 | Minnesota | $50,656 | $24.35 |
| 9 | Arkansas | $57,259 | $27.53 |
| 10 | North Carolina | $49,948 | $24.01 |
| 11 | Vermont | $52,404 | $25.19 |
| 12 | West Virginia | $47,036 | $22.61 |
| 13 | Massachusetts | $52,639 | $25.31 |
| 14 | Colorado | $49,536 | $23.82 |
| 15 | Texas | $51,840 | $24.92 |
| 16 | Michigan | $47,638 | $22.90 |
| 17 | Connecticut | $53,217 | $25.59 |
| 18 | Nebraska | $46,903 | $22.55 |
| 19 | Wyoming | $50,054 | $24.06 |
| 20 | Washington | $51,162 | $24.60 |
| 21 | New Hampshire | $51,052 | $24.54 |
| 22 | North Dakota | $44,719 | $21.50 |
| 23 | Ohio | $46,565 | $22.39 |
| 24 | South Carolina | $49,000 | $23.56 |
| 25 | Oklahoma | $46,437 | $22.33 |
| 26 | Illinois | $44,830 | $21.55 |
| 27 | Kentucky | $45,643 | $21.94 |
| 28 | Kansas | $45,214 | $21.74 |
| 29 | District of Columbia | $53,268 | $25.61 |
| 30 | Missouri | $44,622 | $21.45 |
| 31 | Virginia | $44,546 | $21.42 |
| 32 | Pennsylvania | $45,400 | $21.83 |
| 33 | Hawaii | $55,084 | $26.48 |
| 34 | Arizona | $41,459 | $19.93 |
| 35 | Montana | $47,178 | $22.68 |
| 36 | Iowa | $41,694 | $20.05 |
| 37 | Idaho | $40,095 | $19.28 |
| 38 | Oregon | $45,799 | $22.02 |
| 39 | Georgia | $42,713 | $20.54 |
| 40 | Nevada | $39,623 | $19.05 |
| 41 | Louisiana | $42,601 | $20.48 |
| 42 | Wisconsin | $42,174 | $20.28 |
| 43 | Tennessee | $41,203 | $19.81 |
| 44 | Mississippi | $36,525 | $17.56 |
| 45 | Indiana | $38,965 | $18.73 |
| 46 | Delaware | $42,419 | $20.39 |
| 47 | Alabama | $37,485 | $18.02 |
| 48 | Alaska | $36,583 | $17.59 |
| 49 | Florida | $40,413 | $19.43 |
| 50 | California | $41,307 | $19.86 |
| 51 | Utah | $38,015 | $18.28 |
Highest paying cities for loan officers/loan processor
The highest-paying cities for loan officers/loan processor are Columbia, MD, New York, NY, and Urban Honolulu, HI.
| Rank | City | Avg. salary | Hourly rate |
|---|---|---|---|
| 1 | Columbia, MD | $58,081 | $27.92 |
| 2 | New York, NY | $56,301 | $27.07 |
| 3 | Urban Honolulu, HI | $55,073 | $26.48 |
| 4 | Quincy, MA | $52,748 | $25.36 |
| 5 | Dallas, TX | $51,303 | $24.66 |
| 6 | Minneapolis, MN | $50,652 | $24.35 |
| 7 | Charlotte, NC | $49,301 | $23.70 |
| 8 | Cleveland, OH | $47,878 | $23.02 |
| 9 | Corvallis, OR | $46,042 | $22.14 |
| 10 | Hampton, VA | $44,592 | $21.44 |
| 11 | Kansas City, MO | $44,544 | $21.42 |
| 12 | Yuba City, CA | $43,887 | $21.10 |
| 13 | Tampa, FL | $40,603 | $19.52 |
| 14 | Indianapolis, IN | $38,802 | $18.65 |
| 15 | Midvale, UT | $37,888 | $18.22 |
| 16 | Anchorage, AK | $36,685 | $17.64 |
Loan officer/loan processor salary details
A loan officer/loan processor's salary ranges from $28,000 a year at the 10th percentile to $76,000 at the 90th percentile.
What is a loan officer/loan processor's salary?
| Percentile | Annual salary | Monthly salary | Hourly rate |
|---|---|---|---|
| 90th Percentile | $76,000 | $6,333 | $37 |
| 75th Percentile | $60,000 | $5,000 | $29 |
| Average | $46,753 | $3,896 | $22 |
| 25th Percentile | $36,000 | $3,000 | $17 |
| 10th Percentile | $28,000 | $2,333 | $13 |
Highest paying loan officer/loan processor jobs
The highest paying types of loan officers/loan processor are bank officer, commercial loan officer, and senior loan processor.
| Job title | Annual salary | Monthly salary | Hourly rate | Job openings |
|---|---|---|---|---|
| Mortgage Consultant | $38,934 | $3,245 | $18.72 | 24,057 |
| Loan Analyst | $37,857 | $3,155 | $18.20 | 24,756 |
| Loan Coordinator | $39,836 | $3,320 | $19.15 | 24,765 |
| Loan Consultant | $38,876 | $3,240 | $18.69 | 23,448 |
| Escrow Officer | $50,270 | $4,189 | $24.17 | 62,077 |
| Branch Manager/Loan Officer | $49,780 | $4,148 | $23.93 | 71,818 |
Top companies hiring loan officers/loan processor now:
Which companies pay loan officers/loan processor the most?
Loan officer/loan processor salaries at Xerox and Citi are the highest-paying according to our most recent salary estimates. In addition, the average loan officer/loan processor salary at companies like Accion and Open Bank are highly competitive.
| Rank | Company | Average salary | Hourly rate |
|---|---|---|---|
| 1 | Xerox | $53,031 | $25.50 |
| 2 | Citi | $52,155 | $25.07 |
| 3 | Accion | $48,892 | $23.51 |
| 4 | Open Bank | $48,717 | $23.42 |
| 5 | ORS Partners | $47,541 | $22.86 |
| 6 | Robert Half | $45,874 | $22.05 |
| 7 | Randstad North America, Inc. | $45,462 | $21.86 |
| 8 | Zions Ban | $43,950 | $21.13 |
| 9 | Customers Bank | $43,369 | $20.85 |
| 10 | Oregon State Credit Union | $43,282 | $20.81 |
| 11 | StoneX Group | $43,150 | $20.75 |
| 12 | Cathay Bank | $43,108 | $20.73 |
| 13 | Midwest Holding Inc | $42,612 | $20.49 |
| 14 | Bank of America | $42,400 | $20.38 |
| 15 | CTG | $41,687 | $20.04 |
| 16 | First Hawaiian Bank | $41,642 | $20.02 |
| 17 | Wells Fargo | $41,423 | $19.91 |
| 18 | Mid Minnesota Federal Credit Union | $41,208 | $19.81 |
| 19 | Securitas AB | $40,997 | $19.71 |
| 20 | Tri Counties Bank | $37,047 | $17.81 |
Wage gap by gender, race and education
Loan officer/loan processor salary trends
The average loan officer/loan processor salary has risen by $4,334 over the last ten years. In 2014, the average loan officer/loan processor earned $42,419 annually, but today, they earn $46,753 a year. That works out to a 0% change in pay for loan officers/loan processor over the last decade.
Compare loan officer/loan processor salaries for cities or states with the national average over time.
Average loan officer/loan processor salary over time
Compare loan officer/loan processor salaries for individual cities or states with the national average.
Loan officer/loan processor salary by year
| Year | Avg. salary | Hourly rate | % Change |
|---|---|---|---|
| 2026 | $46,800 | $22.48 | +1.1% |
| 2025 | $46,200 | $22.24 | +0.4% |
| 2024 | $46,100 | $22.15 | -2.6% |
| 2023 | $47,300 | $22.72 | +1.6% |
| 2022 | $46,500 | $22.37 | +0.3% |
Recently added loan officer/loan processor salaries
| Company | Job | Location | Date added | Salary |
|---|---|---|---|---|
| Cathay General Bancorp | Consumer Loan Servicing Escrow Officer | Rosemead, CA | 06/26/2025 | $70,228 |
| Cathay General Bancorp | Loan Servicing Officer | Rosemead, CA | 05/29/2025 | $75,257 |
| Bank of Hope | Loan Servicing Officer | Los Angeles, CA | 05/24/2025 | $52,175 |
| BBCN Bank | Loan Servicing Officer | Los Angeles, CA | 05/24/2025 | $52,175 |
| Department of Industry | Processing Officer | Orange, CA | 05/16/2025 | $73,522 |
| Job Details | Processing Officer | Orange, CA | 05/16/2025 | $73,522 |
| University of Texas at El Paso | Advancement Officer-Gift Processing Officer | El Paso, TX | 05/04/2025 | $40,000 |
| Cathay General Bancorp | Loan Servicing Officer | Rosemead, CA | 04/29/2025 | $75,257 |
| Cathay General Bancorp | Loan Servicing Officer | Rosemead, CA | 03/26/2025 | $75,257 |
| Talent Pool | Processing Officer (Talent Pool) | Orange, CA | 02/25/2025 | $73,522 |
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