Refinance Loan Officer Salaries in Illinois
How Much Does a Refinance Loan Officer Make in Illinois?
Updated March 01, 2025
As of March 01, 2025,
the average annual pay of Refinance Loan Officer in Illinois is $50,514.
While Salary.com is seeing that Refinance Loan Officer salary in IL can go up to $64,619
or down to $31,713, but most earn between $40,673 and $57,897.
Salary ranges can vary widely depending on many important factors,
including education, certifications, additional skills, and your experience levels.
With more online, real-time compensation data than any other website, Salary.com helps you determine your exact pay target.
Related Job Titles to Refinance Loan Officer
Facing Salary Structure Challenges? Let Our Expert Guide You
The job market is increasingly challenging. Our whitepaper, Navigating the Challenges of Creating Salary Structures, offers guidance on creating salary structures. Provide your phone number and work email to download the full version.
We will handle your contact details in line with our Privacy Policy.
If you prefer not to receive marketing emails from Salary.com, you can opt-out out of marketing communications at any time by clicking unsubscribe.
Choose a prefer time
Choose Your Preferred Time
All times are listed as US Eastern time (Boston/New York)
-
9:00 AM-9:30 AM
-
9:30 AM-10:00 AM
-
10:00 AM-10:30 AM
-
10:30 AM-11:00 AM
-
11:00 AM-11:30 AM
-
11:30 AM-12:00 PM
-
12:00 PM-12:30 PM
-
12:30 PM-1:00 PM
-
1:00 PM-1:30 PM
-
1:30 PM-2:00 PM
-
2:00 PM-2:30 PM
-
2:30 PM-3:00 PM
-
3:00 PM-3:30 PM
-
3:30 PM-4:00 PM
-
4:00 PM-4:30 PM
-
4:30 PM-5:00 PM
-
5:00 PM-5:30 PM
-
5:30 PM-6:00 PM
-
6:00 PM-6:30 PM
-
6:30 PM-7:00 PM
-
7:00 PM-7:30 PM
-
7:30 PM-8:00 PM
Similar Job Salaries to Refinance Loan Officer by Company
Loading results...
| Company | average base salary in (usd) | range |
|---|---|---|
|
American Financing
Mortgage Loan Processor - Refinance
|
$72,987/yr
|
RANGE: $61,594 - $84,380
|
|
Guild
LOAN OFFICER
|
$100,698/yr
|
RANGE: $80,268 - $121,128
|
|
The Gerber State Bank
Loan Officer
|
$76,697/yr
|
RANGE: $61,062 - $92,332
|
|
Mortgage Calculator Company LLC
Loan Officer
|
$103,257/yr
|
RANGE: $82,308 - $124,206
|
|
Illinois Educators Credit Union
Loan Officer
|
$95,481/yr
|
RANGE: $76,110 - $114,852
|
|
New American Funding
Sr. Loan Officer
|
$77,833/yr
|
RANGE: $64,766 - $90,899
|
|
HomeTrust Mortgage Corporation
Loan Officer Assistant
|
$66,769/yr
|
RANGE: $57,497 - $76,041
|
|
The FNB Community Bank
Commercial Loan Officer
|
$112,731/yr
|
RANGE: $93,712 - $131,750
|
|
Draper & Kramer Mortgage Corp.
Loan Officer - Salaried/Exempt
|
$102,864/yr
|
RANGE: $81,995 - $123,733
|
Top 10 Highest Paying Cities For Refinance Loan Officer Jobs in Illinois
It is important to understand how location impacts your career prospects in the United States.
There are some cities where a Refinance Loan Officer can find a job easily with a greater salary paid then achieve a higher standard of living.
Below is the top cities list for Refinance Loan Officer job salaries in Illinois.
Some cities can pay higher salaries for Refinance Loan Officer jobs, which can indicate that there is a large demand for Refinance Loan Officer positions in this city.
The following table shows top 10 cities where the Refinance Loan Officer salary is higher than other cities in Illinois.
Chicago takes first place in this list, followed by Cicero, Evanston.
The Refinance Loan Officer salary is $51,798 in Chicago,
which is higher than the national average. There are 20 cities' Refinance Loan Officer salary higher than national average in Illinois.
The average salary for a Refinance Loan Officer in Illinois is $50,514,
but we found that the city with the highest salary for Refinance Loan Officer jobs is Chicago, IL, and it is higher than Cicero.
Refinance Loan Officer jobs in Chicago can have the opportunity to earn higher salaries than in other cities in Illinois.
| CITY | ANNUAL SALARY | MONTHLY PAY | WEEKLY PAY | HOURLY WAGE |
| Chicago | $51,798 | $4,317 | $996 | $25 |
| Cicero | $51,798 | $4,317 | $996 | $25 |
| Evanston | $51,798 | $4,317 | $996 | $25 |
| Oak Park | $51,798 | $4,317 | $996 | $25 |
| Skokie | $51,798 | $4,317 | $996 | $25 |
| Oak Lawn | $51,749 | $4,312 | $995 | $25 |
| Des Plaines | $51,650 | $4,304 | $993 | $25 |
| Mount Prospect | $51,601 | $4,300 | $992 | $25 |
| Aurora | $51,354 | $4,279 | $988 | $25 |
| Hoffman Estates | $51,354 | $4,279 | $988 | $25 |
What Does a Refinance Loan Officer Do?
FHA refinance loans and the FHA streamline refinance allow borrowers to reduce the interest rate on their current mortgages.
Updated December 21, 2021
On the other hand, the advantage of using a loan officer is that you don't have to pay the broker's fee—which you can bet is eventually going to come out of your pocket, one way or another.
Updated November 02, 2021
These include certifications or licenses that an individual loan officer must have and licenses that must be maintained by the institution funding the loan.
Updated December 22, 2021
So if your loan is less than 2 years old, you can request that your PMI be removed with a new refinance but you’re not guaranteed to get approval.
Updated December 21, 2021
Because it behooves loan officers to sell as many mortgages as possible, some may be tempted to steer you into an ARM with the idea of persuading you to.
Updated December 20, 2021
Empower Your Talent Strategy with Salary.com's Skills Library.
Struggling with Managing Your Job Descriptions?
View Job Skills and Competency Data for more than 15,000 Job Titles, 18 Industries, and 26 Job Families.
Skills LibraryOur job description management tool- JobArchitect streamlines your job description process. Say goodbye to the hassle of crafting job descriptions.
Explore JobArchitectFrequently Asked Questions About a Refinance Loan Officer Salaries
What is the average of a Refinance Loan Officer in Illinois?
The Refinance Loan Officer salary range is from $40,673 to $57,897, and the average Refinance Loan Officer salary is $50,514/year in Illinois.
The Refinance Loan Officer's salary will change in different locations.
Which location pays the highest Refinance Loan Officer salary in the United States?
The Refinance Loan Officer salary in San Jose, CA is $61,970
which is the highest in the US.
What kinds of reasons will influence the Refinance Loan Officer's salary?
Besides the location, employees' education degree, related skills, and work experience also will influence the salary.
Try to improve your skills and experience to get a higher salary for the position of Refinance Loan Officer.
What is the growth rate of the Refinance Loan Officer's salary?
If you are thinking of becoming a Refinance Loan Officer or planning the next step in your career, find the detailed salary report of a Refinance Loan Officer.
