Loan officers earned a median annual wage of $76,690 in the United States based on 2025 Bureau of Labor Statistics wage data published through O*NET. Pay varies widely by role, location, employer and compensation structure, especially when commissions and bonuses are involved.
Data reviewed: August 20, 2026. Salary figures on this page are labeled by source, date and methodology because government wage surveys and job-site estimates are not directly interchangeable.
How Much Does a Loan Officer Make?
The best nationwide benchmark is the federal occupational wage data for Loan Officers (SOC 13-2072). O*NET, using Bureau of Labor Statistics 2025 wage data, reports a U.S. median of $76,690 per year, or $36.87 per hour. The 10th percentile is $39,430 and the 90th percentile is $153,180.
Loan Officer Salary: Quick Facts
- U.S. median annual wage: $76,690
- Median hourly wage: $36.87
- 25th percentile: $52,730
- 75th percentile: $104,080
- 10th–90th percentile range: $39,430–$153,180
- Employment outlook: 2% growth from 2024 to 2034
- Projected openings: about 20,300 per year, on average, over the decade
Wage data: BLS 2025 via O*NET. Outlook: U.S. Bureau of Labor Statistics, 2024–2034 projections.
One important limitation: the federal occupation includes loan officers across mortgage, consumer and commercial lending. It is therefore a strong national benchmark, but it is not a mortgage-only compensation figure. Commission-heavy mortgage roles can produce very different reported earnings.
Loan Officer Salary Range in the U.S.
A single “average salary” hides how wide the pay distribution is. The BLS 2025 wage data provide a more useful percentile view:
| Percentile | Annual wage | Hourly wage | How to interpret it |
|---|---|---|---|
| 10th | $39,430 | $18.96 | Lower end of the national occupational distribution |
| 25th | $52,730 | $25.35 | Lower quartile |
| Median (50th) | $76,690 | $36.87 | Half of workers earn less and half earn more |
| 75th | $104,080 | $50.04 | Upper quartile |
| 90th | $153,180 | $73.65 | Upper end of the national occupational distribution |
These percentiles should not be relabeled as “entry-level,” “mid-level” or “senior” salaries. BLS wage percentiles describe the earnings distribution; they do not assign each percentile to a specific experience level.
Why Do Loan Officer Salary Websites Report Such Different Numbers?
Salary estimates for loan officers vary unusually widely because the sources are measuring different things. Government occupational surveys, job advertisements, self-reported compensation and salary-benchmarking models can all produce different answers. Mortgage roles also may include performance pay, making a headline salary difficult to compare with a fixed-salary banking role.
| Source | Reported figure | Date | What the number represents |
|---|---|---|---|
| O*NET / BLS | $76,690 median | 2025 wage data | Federal occupational wage data for Loan Officers (SOC 13-2072) |
| ZipRecruiter | $70,335 average; $60,600 displayed median | July 30, 2026 | Employer job postings plus third-party data |
| Indeed | $185,226 average base salary; $35,500 commission reported separately | August 3, 2026 | Salary data from job postings over the prior 36 months |
| Salary.com | $65,310 average | August 1, 2026 | Salary benchmarking/modelled compensation data |
Do not average these estimates together. Instead, use the BLS-based median as the national occupational benchmark and treat job-site figures as supplementary market signals. Before comparing any offer with an online salary figure, check whether that figure represents base pay, advertised earnings, commission, bonus or total compensation.
How Do Loan Officers Get Paid?
Loan officer compensation is not one-size-fits-all. The Bureau of Labor Statistics notes that some loan officers receive a flat salary, while others are paid partly through commission. Commissioned employees commonly have a base salary plus commission, and some may receive additional commission or bonuses linked to production or performance.
Base Salary
Base salary is the fixed portion of compensation. It makes offers easier to compare, but it does not show the full earning potential of a role that also includes variable pay.
Commission
Commission is variable compensation tied to the employer’s compensation plan. There is no responsible national “typical commission percentage” that applies to every loan officer. The structure can differ by employer, job type and regulatory framework.
Bonuses and Incentives
Some employers may offer bonuses or other performance incentives. When comparing jobs, ask what triggers the bonus, whether the figure is guaranteed or discretionary, and how frequently it is paid.
Total Compensation and Benefits
Total compensation can include base pay, commission, bonuses and employer-provided benefits. A lower headline salary can still be competitive if the total package is stronger, while a high advertised earning figure may depend on production targets.
Mortgage loan-originator compensation is also subject to federal rules. The Consumer Financial Protection Bureau’s Regulation Z loan-originator compensation rules restrict compensation practices tied to certain transaction terms. That is another reason to avoid treating a generic commission percentage found online as a universal industry standard.
Loan Officer Salary by State and Location
Geography matters, but location comparisons should use the same occupation, data year and methodology. The selected examples below use the same BLS 2025 wage dataset through O*NET, making them more comparable than a list assembled from unrelated salary websites.
| Location | 10th percentile | Median | 90th percentile |
|---|---|---|---|
| United States | $39,430 | $76,690 | $153,180 |
| Massachusetts | $64,680 | $101,600 | $198,220 |
| Connecticut | $50,300 | $95,730 | $171,280 |
| California | $37,460 | $81,770 | $169,040 |
| Washington | $39,000 | $80,120 | $162,240 |
| Illinois | $43,020 | $79,150 | $137,080 |
| Pennsylvania | $39,990 | $69,300 | $132,900 |
| Alabama | $42,090 | $66,710 | $155,660 |
| South Carolina | $37,080 | $63,220 | $142,260 |
| Mississippi | $37,030 | $60,260 | $131,510 |
These are selected examples, not a ranking of all 50 states. Metro-level differences can also be substantial. For example, O*NET reports a 2025 median of $103,850 in the Bridgeport–Stamford–Danbury, Connecticut area, compared with $84,990 in Connecticut’s nonmetropolitan area.
Cost of living should be considered separately. A higher nominal salary does not automatically mean greater purchasing power.
How Does Experience Affect Loan Officer Salary?
Experience can affect pay, but there is no official BLS wage table that labels one number “entry-level loan officer salary” and another “senior loan officer salary.” Experience interacts with employer, location, loan type, sales performance, book of business and compensation structure.
Entry-Level and Junior Loan Officers
For a conservative planning benchmark, the lower part of the BLS distribution is more defensible than an unsourced “starting salary.” In 2025, the 10th percentile was $39,430 and the 25th percentile was $52,730 nationally. These figures are not official entry-level salaries; they simply show the lower portion of the occupation’s wage distribution.
Mid-Career Loan Officers
The national median of $76,690 is a useful center point for the occupation, but an individual worker may earn materially more or less depending on production, market and employer.
Experienced and High-Earning Loan Officers
The 75th percentile was $104,080 and the 90th percentile was $153,180 in 2025. Again, these are upper wage percentiles rather than formal “senior” bands. In commission-heavy mortgage origination, individual total compensation can also move outside government wage benchmarks.
Mortgage vs. Commercial vs. Consumer Loan Officer Pay
“Loan officer” covers several lending specialties, so role definitions matter when comparing salaries.
| Role | Typical focus | Compensation consideration |
|---|---|---|
| Mortgage loan officer / mortgage loan originator | Residential real-estate loans | May include significant variable compensation; licensing or federal registration rules apply |
| Commercial loan officer | Loans to businesses | Pay can reflect deal complexity, portfolio responsibility, experience and employer |
| Consumer loan officer | Personal, auto and other consumer lending | Compensation may be more salary-oriented in some institutions, but employer plans vary |
When using a salary website, make sure the job title matches the role you are researching. A general “loan officer” estimate should not automatically be presented as a mortgage-loan-officer salary.
What Affects a Loan Officer’s Salary?
- Type of lending: mortgage, commercial and consumer lending can have different responsibilities and compensation structures.
- Employer: banks, credit unions, mortgage companies and other lenders may structure pay differently.
- Location: state and metro wage levels vary.
- Experience and responsibility: expertise, portfolio responsibility and leadership duties can affect pay.
- Production and performance: in variable-compensation roles, funded volume or other permitted performance measures can influence earnings.
- Market conditions: loan demand and the broader credit and housing environment can affect production opportunities.
- Benefits: health coverage, retirement contributions, paid leave and other employer benefits affect the value of an offer even when they are not included in a salary figure.
What Qualifications Do You Need to Become a Loan Officer?
The Bureau of Labor Statistics says loan officers typically need a bachelor’s degree and on-the-job training, often in a business- or finance-related field. However, some candidates may enter without a bachelor’s degree if they have relevant banking, customer-service or sales experience.
Mortgage Loan Officer Licensing and Registration
Mortgage loan originators are subject to the SAFE Act. Importantly, not every MLO follows the same licensing path: the NMLS states that mortgage loan originators must be either state-licensed or federally registered. MLOs employed by federally regulated depository institutions such as covered banks and credit unions generally maintain federal registration, while state-licensed MLOs follow state licensing requirements through NMLS.
For state-licensed MLOs, the federal minimum includes 20 hours of NMLS-approved pre-licensure education. NMLS also requires a passing score of 75% on the SAFE MLO Test. State agencies may impose additional education or licensing requirements, so candidates should verify the rules for each state where they plan to originate mortgages.
State-licensed MLOs generally must complete at least 8 hours of NMLS-approved continuing education annually to maintain licensing, subject to state-specific requirements.
Official licensing information should be checked through the NMLS Resource Center and the relevant state regulator rather than a generic career website.
Loan Officer Job Outlook
The Bureau of Labor Statistics projects employment of loan officers to grow 2% from 2024 to 2034, which is slower than the average for all occupations. Even with limited net growth, BLS projects about 20,300 openings per year, on average, over the decade, largely because workers will leave the occupation or the labor force.
BLS also notes that demand for credit supports the need for loan officers, while fewer bank branches and greater use of productivity-enhancing technology in loan processing are expected to restrain employment growth.
How to Evaluate a Loan Officer Compensation Offer
A headline salary is only one part of a loan officer offer. Before comparing two roles, ask the same questions about each package:
- What is guaranteed? Separate fixed base pay from variable earnings.
- How is commission calculated? Ask the employer for the written compensation plan rather than relying on a national “typical” rate.
- What performance assumptions are behind advertised earnings? A high earnings figure may depend on production that not every employee reaches.
- When is variable pay earned and paid? Understand the timing and conditions in the employer’s plan.
- What benefits are included? Compare health, retirement, paid leave and other benefits alongside cash compensation.
- Who provides the leads? The sales model can affect how much time and expense is required to generate business.
- What market will you serve? Geography, product mix and local demand can change production opportunities.
If you are comparing real-estate careers more broadly, see SpoliaMag’s guide to high-paying real estate careers. To understand the borrower side of the mortgage conversation, see how much house a $100,000 salary may afford.
Frequently Asked Questions
“Average” depends on the source. For a consistent national benchmark, BLS 2025 wage data report a median annual wage of $76,690 for loan officers. Job sites can show different averages because their datasets and compensation definitions differ.
The 2025 national median is $36.87 per hour, according to BLS wage data published through O*NET.
Loan officer earnings can be above or below the national occupational median depending on the role. In 2025, the 75th percentile was $104,080 and the 90th percentile was $153,180, while the 25th percentile was $52,730. Commission-heavy roles can vary further.
Both structures exist. BLS says some loan officers receive a flat salary, while others receive commission; commissioned workers commonly have a base salary plus commission and may also receive bonuses.
There is no single authoritative federal wage figure exclusively for mortgage loan officers. BLS groups loan officers under SOC 13-2072. Mortgage-specific job sites may report higher or lower figures, especially when variable compensation is included.
BLS does not publish a separate official entry-level figure. The 10th and 25th percentile national wages were $39,430 and $52,730 in 2025, but those percentiles should be treated as lower-end benchmarks rather than formal starting salaries.
In the 2025 BLS distribution, the 75th percentile was $104,080 and the 90th percentile was $153,180. Those figures represent upper wage percentiles, not a guaranteed salary for a particular number of years of experience.
There is no universal per-loan amount. Compensation plans vary by employer and role, and mortgage loan-originator compensation is subject to federal and state rules. Ask for the employer’s written compensation plan before estimating earnings per funded loan.
State rankings can change each year. In selected 2025 BLS data reviewed for this guide, Massachusetts had a median of $101,600 and Connecticut $95,730, both above the U.S. median of $76,690. A complete state ranking should be generated from one consistent current dataset before claiming a national “highest-paying state.”
A bachelor’s degree is typical, according to BLS, but it is not an absolute requirement for every loan-officer job. Relevant experience in banking, customer service or sales may qualify candidates for some positions.
Mortgage loan originators must be either state-licensed or federally registered under the SAFE Act. State-licensed MLOs use NMLS for licensing requirements; MLOs employed by covered federally regulated depository institutions are generally federally registered through NMLS.
BLS projects 2% employment growth from 2024 to 2034 and about 20,300 openings per year, on average, during that period.
Sources and Methodology
This guide prioritizes government and regulatory sources for national wages, employment outlook and licensing rules. Third-party salary websites are used only to show how market estimates can differ.
- O*NET OnLine — Loan Officers national and local wages (BLS 2025 wage data)
- U.S. Bureau of Labor Statistics — Loan Officers, Occupational Outlook Handbook (job duties, education, compensation structure and 2024–2034 outlook)
- Nationwide Multistate Licensing System & Registry (SAFE Act education, testing, licensing and registration requirements)
- Consumer Financial Protection Bureau — mortgage origination resources (federal mortgage origination and compensation rules)
- ZipRecruiter — Loan Officer Salary (job-posting and third-party salary estimate)
- Indeed — Loan Officer Salary (job-posting salary data)
Editorial policy for updates: Recheck BLS/O*NET wage data annually after the newest OEWS data are incorporated, review BLS projections when a new projection cycle is released, and verify NMLS/state requirements before any licensing language is materially changed.
Bottom line: $76,690 is the most defensible current U.S. median benchmark for loan officers using BLS 2025 wage data, but it should not be treated as a guaranteed mortgage-loan-officer salary. Role type, location, employer and variable compensation can change actual earnings substantially.
