How much does a Loan Specialist make in the United States?
As of September 01, 2026, the average salary for a Loan Specialist in the United States is $57,449 per year, which breaks down to an hourly rate of $28.
However, a Loan Specialist's salary can vary significantly. Here’s a look at the typical salary range:
Top Earners (90th percentile): $75,417
Majority Range (25th-75th percentile): $51,435 to $66,854
Key Factors That Influence Loan Specialist Salaries
A Loan Specialist'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, education
and company size
can directly affect your earning potential.
How Experience Level Affects Loan Specialist Salaries?
Experience is a primary driver of a Loan Specialist'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:
How Do Loan Specialist Salaries Vary from State to State?
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 Loan Specialists. For example, consider the average annual salaries in these key locations:
Salaries can also vary between different cities.
Major metropolitan areas or cities with a high demand for technicians often offer more competitive pay.
Here are a few examples of average annual salaries in different U.S. cities:
San Jose: $72,460
San Francisco: $71,666
Oakland: $70,156
San Jose, CA$72,460
San Francisco, CA$71,666
Oakland, CA$70,156
New York, NY$66,146
Paramus, NJ$65,341
Queens Village, NY$65,338
Passaic, NJ$65,284
Bergenfield, NJ$65,279
Stamford, CT$65,152
Huntington, NY$65,129
Newark, NJ$64,704
Bridgeport, CT$64,583
Vallejo, CA$64,469
New Brunswick, NJ$64,446
Petaluma, CA$64,411
Middlesex, NJ$64,302
Somerset, NJ$64,262
Santa Cruz, CA$64,187
Boston, MA$63,837
Monterey, CA$63,635
Seattle, WA$63,504
Santa Rosa, CA$63,492
Los Angeles, CA$63,475
Juneau, AK$63,325
Washington, DC$63,262
Orange, CA$63,058
Santa Ana, CA$62,906
Long Beach, CA$62,849
Anaheim, CA$62,837
Anchorage, AK$62,808
Santa Maria, CA$62,636
Everett, WA$62,625
Danbury, CT$62,422
Bremerton, WA$62,343
Tacoma, WA$62,136
New Suffolk, NY$62,135
Sacramento, CA$62,119
Santa Barbara, CA$62,056
Trenton, NJ$61,993
San Diego, CA$61,993
Brockton, MA$61,929
Fairbanks, AK$61,789
Lompoc, CA$61,642
Lowell, MA$61,596
Ventura, CA$61,585
Nashua, NH$61,573
Stockton, CA$61,568
Modesto, CA$61,148
Poughkeepsie, NY$61,022
Olympia, WA$60,913
Kennewick, WA$60,913
New Haven, CT$60,890
Lawrence, MA$60,683
Hartford, CT$60,625
Riverside, CA$60,614
New Bedford, MA$60,556
Richland, WA$60,556
Bakersfield, CA$60,476
San Bernardino, CA$60,453
New Britain, CT$60,447
Atlantic City, NJ$60,447
New London, CT$60,424
Norwich, CT$60,407
Portsmouth, NH$60,396
Boulder, CO$60,274
Portland, OR$60,195
Worcester, MA$60,189
Minneapolis, MN$60,011
Philadelphia, PA$59,930
Honolulu, HI$59,741
Saint Paul, MN$59,713
Vineland, NJ$59,700
Providence, RI$59,534
Chicago, IL$59,367
Bellingham, WA$59,298
Springfield, MA$59,252
Baltimore, MD$59,235
Chico, CA$59,092
Pittsfield, MA$58,936
Manchester, NH$58,827
Spokane, WA$58,574
Denver, CO$58,569
Albany, NY$58,299
Troy, NY$58,276
Nassau, NY$58,214
Schenectady, NY$58,155
Wilmington, DE$58,109
Burlington, VT$58,029
Salem, OR$58,006
Portland, ME$57,828
Yakima, WA$57,770
Rochester, MN$57,592
Reno, NV$57,563
Fresno, CA$57,563
Milwaukee, WI$57,512
Detroit, MI$57,454
Ann Arbor, MI$57,444
Allentown, PA$57,437
Colorado Springs, CO$57,339
Syracuse, NY$57,311
Carson City, NV$57,311
Houston, TX$57,230
Eugene, OR$57,201
Gary, IN$57,133
Springfield, OR$57,087
Bismarck, ND$57,075
Galveston, TX$57,035
Medford, OR$56,949
Fort Collins, CO$56,926
Concord, NH$56,897
Austin, TX$56,880
Mesa, AZ$56,759
Reading, PA$56,753
Phoenix, AZ$56,748
Dallas, TX$56,730
Saint Cloud, MN$56,675
Madison, WI$56,598
Utica, NY$56,443
Rochester, NY$56,351
Des Moines, IA$56,345
Raleigh, NC$56,340
Atlanta, GA$56,254
Battle Creek, MI$56,236
Salt Lake City, UT$56,219
Lancaster, PA$56,133
Harrisburg, PA$56,053
Kansas City, MO$55,995
Champaign, IL$55,984
Kansas City, KS$55,984
Fort Worth, TX$55,978
Columbus, OH$55,968
Boca Raton, FL$55,955
Pittsburgh, PA$55,932
Richmond, VA$55,909
Indianapolis, IN$55,897
Cleveland, OH$55,892
Las Vegas, NV$55,823
Cincinnati, OH$55,823
Petersburg, VA$55,737
Huntsville, AL$55,650
Lansing, MI$55,612
Lebanon, PA$55,604
Pueblo, CO$55,599
Appleton, WI$55,581
Buffalo, NY$55,558
Dayton, OH$55,541
Racine, WI$55,530
Charlotte, NC$55,524
Saint Louis, MO$55,507
York, PA$55,472
Elkhart, IN$55,472
Gastonia, NC$55,461
Billings, MT$55,448
Beaumont, TX$55,432
Lorain, OH$55,421
Benton Harbor, MI$55,409
Toledo, OH$55,398
Binghamton, NY$55,369
Rock Hill, SC$55,363
Rockford, IL$55,334
Springfield, IL$55,311
Elyria, OH$55,306
Fargo, ND$55,306
Flagstaff, AZ$55,265
Fort Lauderdale, FL$55,231
Duluth, MN$55,197
Miami, FL$55,197
Cheyenne, WY$55,156
Grand Forks, ND$55,156
Bangor, ME$55,030
Cedar Rapids, IA$54,967
Durham, NC$54,943
Louisville, KY$54,938
Grand Rapids, MI$54,927
Hialeah, FL$54,921
Casper, WY$54,840
Scranton, PA$54,771
New Orleans, LA$54,754
Virginia Beach, VA$54,748
Akron, OH$54,720
Peoria, IL$54,645
Sarasota, FL$54,634
Nashville, TN$54,593
Omaha, NE$54,593
Green Bay, WI$54,593
Baton Rouge, LA$54,565
Charleston, SC$54,553
Jamestown, NY$54,524
Davenport, IA$54,524
Tucson, AZ$54,496
Saint Petersburg, FL$54,461
Tampa, FL$54,450
Evansville, IN$54,415
Port Arthur, TX$54,415
Bradenton, FL$54,392
Santa Fe, NM$54,289
Orlando, FL$54,185
Clearwater, FL$54,168
Canton, OH$54,048
La Crosse, WI$54,048
Albuquerque, NM$54,013
Newport News, VA$54,007
High Point, NC$53,990
Ogden, UT$53,967
Corpus Christi, TX$53,921
Norfolk, VA$53,887
Laramie, WY$53,887
Rock Island, IL$53,852
Saginaw, MI$53,841
Jacksonville, FL$53,835
Salisbury, NC$53,823
Boise, ID$53,812
Moline, IL$53,783
Fort Myers, FL$53,766
Memphis, TN$53,755
Tulsa, OK$53,726
Waterloo, IA$53,691
Spartanburg, SC$53,634
Lincoln, NE$53,605
Fort Wayne, IN$53,594
Provo, UT$53,588
Cedar Falls, IA$53,519
San Antonio, TX$53,496
Greensboro, NC$53,473
South Bend, IN$53,467
Savannah, GA$53,404
Muskegon, MI$53,381
Birmingham, AL$53,375
Winston Salem, NC$53,347
Lake Charles, LA$53,209
Anderson, IN$53,197
Lexington, KY$53,180
Augusta, GA$53,163
Greenville, SC$53,163
Lima, OH$53,117
Wichita, KS$53,111
Tuscaloosa, AL$53,111
Columbia, SC$53,059
Springfield, OH$53,048
Asheville, NC$52,956
Bloomington, IN$52,916
Knoxville, TN$52,709
Shreveport, LA$52,703
Wilmington, NC$52,629
Roanoke, VA$52,629
Topeka, KS$52,525
Frankfort, KY$52,519
Oklahoma City, OK$52,479
Chillicothe, OH$52,456
Longview, TX$52,450
Melbourne, FL$52,445
Sioux Falls, SD$52,353
Mobile, AL$52,347
Terre Haute, IN$52,324
Altoona, PA$52,290
Amarillo, TX$52,249
Killeen, TX$52,232
Fayetteville, AR$52,186
Chattanooga, TN$52,169
Sioux City, IA$52,117
Idaho Falls, ID$52,106
Lynchburg, VA$52,060
Gainesville, FL$51,985
Portsmouth, OH$51,956
Little Rock, AR$51,945
Lafayette, LA$51,922
Youngstown, OH$51,922
Daytona Beach, FL$51,887
Clarksville, TN$51,882
Pensacola, FL$51,876
Temple, TX$51,872
Hopkinsville, KY$51,704
Erie, PA$51,692
Florence, SC$51,669
Charleston, WV$51,577
Great Falls, MT$51,549
Macon, GA$51,468
Tallahassee, FL$51,462
Fayetteville, NC$51,451
Waco, TX$51,439
Helena, MT$51,399
Pine Bluff, AR$51,377
Vincennes, IN$51,307
Lubbock, TX$51,284
Alamogordo, NM$51,250
Twin Falls, ID$51,198
Rapid City, SD$51,181
Jackson, MS$51,077
Huntington, WV$51,073
Greenville, MS$51,072
Parkersburg, WV$51,013
Montgomery, AL$51,003
Wichita Falls, TX$50,945
Springfield, MO$50,945
Biloxi, MS$50,917
Monroe, LA$50,859
Johnstown, PA$50,819
Sumter, SC$50,796
Columbus, GA$50,790
Pascagoula, MS$50,681
Abilene, TX$50,681
Kingsport, TN$50,532
Albany, GA$50,532
Gulfport, MS$50,514
Alexandria, LA$50,325
Fort Smith, AR$50,181
El Paso, TX$50,026
Las Cruces, NM$49,768
Harlingen, TX$49,622
Pocatello, ID$49,613
Florence, AL$49,538
Brownsville, TX$49,526
Mcallen, TX$49,406
Dothan, AL$49,325
Columbus, MS$48,984
Altus, OK$48,716
Lawton, OK$48,607
Pierre, SD$48,400
What Skills Can Increase a Loan Specialist's Salary?
Demanded Skills for the Role:
Analysis (Mentioned in 17.96% Job Postings): Analysis is the process of considering something carefully or using statistical methods in order to understand it or explain it.
Commercial Loans (Mentioned in 2.25% Job Postings): A commercial loan is a debt-based funding arrangement between a business and a financial institution such as a bank. It is typically used to fund major capital expenditures and/or cover operational costs that the company may otherwise be unable to afford.
Billing (Mentioned in 1.45% Job Postings): Billing refers to the aspect of banking, whereby someone is charged accurately for what item they purchased.
Mastering certain specialized skills can lead to a significant increase in pay.
Here are examples of skills and the potential impact they can have on a Loan Specialist's salary.
Financial Statement Analysis: Can increase your salary by up to 35%.
Commercial Banking: Can increase your salary by up to 25%.
Credit Risk: Can increase your salary by up to 23%.
Loan Specialist Salary by Industry: Top Paying Sectors
For Loan Specialist roles, the industry you choose can impact your earning potential
by as much as 40% (the gap between the highest and lowest paying industries).
Data shows that the highest-paying industry, Financial Services,
offers compensation 20% above the average. Conversely,
Loan Specialist positions in Business Services typically offer lower base pay,
as this sector often view Loan Specialist as a support function rather than a direct revenue driver.
The top paying industry for a Loan Specialist
Industry Sector
Average Annual Salary
Average Hourly Rate
Pay vs.Avg
Financial Services
$68,938
$33.0
20%
How Education impacts a Loan Specialist's Salary?
Your level of education can impact your salary potential.
While many Loan Specialists enter the field with a High School Diploma or Technical Certificate degree,
higher education can lead to more specialized and higher-paying roles.
According to our 100% employer-reported salary data,
the median salary for a Loan Specialist with a High School Diploma or Technical Certificate is between
$52,439
and $56,762).
Loan Specialist Salary: Hourly Rate, Weekly Pay, and Monthly Pay
Understanding how a Loan Specialist'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.
Salaries for a Loan Specialist can change over time,
reflecting shifts in market demand and the overall economy.
The median salary decreased from $58,707 in 2023
to around $57,947 in 2025,
reflecting changes in demand, location, experience, and the wider economy.
For a detailed analysis of Loan Specialist salary trends,
.
Average Annual Salary of Loan Specialist Over Time
$???
$58,707
$58,267
$57,947
$???
$???
2022
2023
2024
2025
2026
2027
Year
Average Annual Salary
2022
View More
2023
$58,707
2024
$58,267
2025
$57,947
2026
View More
2027
View More
Most common benefits for Loan Specialist
Social Security
401 (k)
Disability
Healthcare
Pension
Time Off (days)
Common company salaries for Loan Specialist
Here are companies hiring for Loan Specialist and their salaries, click below for more details.
K$114,295/per year
Kpmg Us LLPBusiness Servicesthe United States
W$114,096/per year
Warner Bros DiscoveryBusiness Servicesthe United States
D$111,927/per year
Dentsu International LtdBusiness Servicesthe United States
G$111,873/per year
GroupM Worldwide IncBusiness Servicesthe United States
C$111,651/per year
CoWorx StaffingBusiness Servicesthe United States
C$110,194/per year
Contemporary Services CorpBusiness Servicesthe United States
S$107,128/per year
Showcase CinemasBusiness Servicesthe United States
A$106,429/per year
Amentum Services IncBusiness Servicesthe United States
A$106,199/per year
Allied Universal Security Services LLCBusiness Servicesthe United States
S$106,104/per year
Sodexo USABusiness Servicesthe United States
J$105,192/per year
JLL TechnologiesBusiness Servicesthe United States
I$104,478/per year
Intact Insurance Group USA LLCBusiness Servicesthe United States
N$101,619/per year
NielsenIQBusiness Servicesthe United States
T$101,470/per year
The Leading Edge AllianceBusiness Servicesthe United States
H$101,308/per year
Honeywell UOPBusiness Servicesthe United States
R$97,720/per year
Reeve & AssociatesBusiness Servicesthe United States
M$97,584/per year
ManpowerGroup Global IncBusiness Servicesthe United States
F$95,980/per year
Financial Sys NcoBusiness Servicesthe United States
A$95,314/per year
Arrow Global LtdBusiness Servicesthe United States
C$94,777/per year
CarMax Enterprise Services LLCBusiness Servicesthe United States
D$94,479/per year
DZConneXBusiness Servicesthe United States
A$93,802/per year
Adecco Staffing, USABusiness Servicesthe United States
R$92,937/per year
Resource MFGBusiness Servicesthe United States
Z$92,774/per year
Zachry Brands IncBusiness Servicesthe United States
G$88,138/per year
Greystar Worldwide LLCBusiness Servicesthe United States
Find Your Next Loan Specialist Job
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FAQ about Loan Specialist
1. What industry pays the highest salary for Loan Specialist?
The Financial Services industry offers the highest average compensation for Loan Specialist roles,
with salaries approximately 20% above the market median.
Where Does Our Salary Data Come From?
Salary.com provides salary estimates, histograms, trends, and comparisons using data from employer job postings and third-party sources.
