As of May 01, 2026, the average salary for an Entry Level Loan Officer in the United States is $50,901 per year, which breaks down to an hourly rate of $24.
However, an Entry Level Loan Officer's salary can vary significantly. Here’s a look at the typical salary range:
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An Entry Level Loan Officer's salary isn't a fixed number. It's shaped by several important factors. Below, we'll explore how your years of experience, geographic location and company size can directly affect your earning potential.
Experience is a primary driver of an Entry Level Loan Officer's salary. As you build your skills and take on more complex tasks, your compensation generally increases. Here's how the average salary grows at different career stages:
| Job Role | Years of Experience | Average Salary |
|---|---|---|
| Entry Level Loan Officer | 0-2 years | $50,888 |
| Officer, Experienced - Mortgage Loans | 2-4 years | $63,901 |
| Officer, Senior - Mortgage Loans | 4-7 years | $93,145 |
| Mortgage Lending Development Assistant Manager | 7+ years | $95,672 |
| Mortgage Lending Development Manager | 7+ years | $117,203 |
What Am I Worth?
Your salary can change significantly depending on where you work. States with a higher cost of living and strong industrial sectors often pay more to attract Entry Level Loan Officers. For example, consider the average annual salaries in these key locations:
Demanded Skills for the Role:
| Skills | Demand Percentage |
|---|---|
| Customer Service | 3.95% |
| CRM | 5.87% |
| Mortgage Lending | 0.84% |
| Skill | Salary | Salary % Increase |
|---|---|---|
|
Food Safety
|
$92,640 |
82%
|
|
Integrity
|
$52,937 |
4%
|
|
Products and Services
|
$52,937 |
4%
|
|
Data Entry
|
$52,937 |
4%
|
|
Communication Skills
|
$52,937 |
4%
|
|
Effective Communication
|
$52,937 |
4%
|
Understanding how an Entry Level Loan Officer's annual salary breaks down can help with budgeting. Below, you can see the average hourly rate, weekly pay, and monthly pay for this role. Use the buttons to switch between different pay periods.
Last Updated on May 01, 2026Promotions are the fastest way to increase your earnings. As an Entry Level Loan Officer, you have the following paths for advancement. The table below compares the salary raises for common next-step roles. By comparing these figures, you can choose the career path that best meets your financial goals.
| Next Step Role | Estimate Salary | Projected Raise |
|---|---|---|
| Officer, Experienced - Mortgage Loans | $64,000 | 26% |
| Mortgage Secondary Market Specialist II | $77,800 | 53% |
| Branch Manager - Consumer Mortgage Lending | $112,000 | 120% |
Salaries for an Entry Level Loan Officer can change over time, reflecting shifts in market demand and the overall economy. The median salary decreased from $59,450 in 2023 to around $59,038 in 2025, reflecting changes in demand, location, experience, and the wider economy. For a detailed analysis of Entry Level Loan Officer salary trends, .
| Year | Average Annual Salary |
|---|---|
| 2022 |
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|
| 2023 | $59,450 |
| 2024 | $59,376 |
| 2025 | $59,038 |
| 2026 |
View More
|
| 2027 |
View More
|
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Compensation PlanningHere are companies hiring for Entry Level Loan Officer and their salaries, click below for more details.
Ready to take the next step in your career? Browse thousands of current Entry Level Loan Officer job openings on our job board. Use the search bar below to find your perfect match.
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A good salary to ask for an Entry-Level Loan Officer position ranges from $42,901 to $58,201, with a mid-point of $49,901. This reflects a more realistic expectation compared to earlier figures suggesting $25,000 to $34,999. It's important to consider industry standards and regional variations when negotiating your salary.
Earning $40,000 a year is below the entry-level salary range for a Loan Officer, where the minimum is $42,901. While it may suffice for someone with low expenses, it falls short compared to the mid-salary of $49,901 and the maximum of $58,201. Therefore, it may not be considered a good entry-level salary in this field.
Loan officers are in demand, with approximately 22,900 openings projected annually over the next decade. This demand primarily arises from the need to replace workers transitioning to other occupations or retiring. Entry-level loan officers can expect salaries ranging from $42,901 to $58,201, with a median salary of $49,901.
Loan officers often enjoy flexible work arrangements, including the option to work from home. Many employers support this practice, allowing loan officers to schedule client meetings around their availability. This flexibility has been a common aspect of the role, even prior to the pandemic. Entry-level loan officers can expect salaries ranging from $42,901 to $58,201, with a mid-salary of $49,901.
Becoming a loan officer may not be extremely difficult, but it does require dedication, education, and the development of specific skills. Entry-level loan officers can expect a salary ranging from $42,901 to $58,201, with a median salary of $49,901, reflecting the potential for growth in this career.
To become a loan officer without experience, consider earning a degree, as it can be beneficial. Choose a specialization that interests you and update your CV accordingly. Apply for entry-level positions, where salaries range from $42,901 to $58,201. Focus on advancing your career and continue learning to enhance your skills and opportunities.
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