Residential Loan Officer Salary
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How much does a Residential Loan Officer make? The average Residential Loan Officer salary is $39,296 as of June 27, 2024, but the salary range typically falls between $33,704 and $44,592. Salary ranges can vary widely depending on many important factors, including education, certifications, additional skills, the number of years you have spent in your profession. With more online, real-time compensation data than any other website, Salary.com helps you determine your exact pay target.
Salary range for a Residential Loan Officer
$33,704 to $44,592
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What does a Residential Loan Officer do?
Common responsibilities of a Residential Loan Officer
Attend monthly sales meetings, training sessions and Bank functions.
October 24, 2022
Develop and implement marketing programs such as direct mailings, seminars and event participation as required by written goals.
November 11, 2022
Active solicitation and origination of mortgage loan programs to all prospective borrowers including in low to moderate areas, and low to moderate income individuals.
January 26, 2023
Maintains past dues and charge-offs within or below Bank guidelines, including the regular maintenance of such credits within the parameters of collection law and Bank policy.
March 24, 2023
Provide an excellent customer experience by overseeing the loan process from origination to closing and proactively communicating with the customer throughout the entire process.
April 10, 2023
Reviews all additional documentation needed to determine prospect also meets product guidelines prior to issuance of a pre-qualification letter.
April 10, 2023
Collect all initial documentation and analyze applicant information to determine whether the customer is likely to qualify for the desired loan program, assist customer in choosing the proper program suitable to their needs.
April 17, 2023
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Explore JobArchitectResidential Loan Officer Salary in Major Cities
This chart shows the salary comparison for Residential Loan Officer between major cities. San Francisco City consistently ranks #1 as of June 27, 2024. Click on the chart to see the detail salary data for Residential Loan Officer in each city.
Residential Loan Officer Salary by State
- Alaska
- Alabama
- Arkansas
- Arizona
- California
- Colorado
- Connecticut
- District of Columbia
- Delaware
- Florida
- Georgia
- Hawaii
- Iowa
- Idaho
- Illinois
- Indiana
- Kansas
- Kentucky
- Louisiana
- Massachusetts
- Maryland
- Maine
- Michigan
- Minnesota
- Missouri
- Mississippi
- Montana
- North Carolina
- North Dakota
- Nebraska
- New Hampshire
- New Jersey
- New Mexico
- Nevada
- New York
- Ohio
- Oklahoma
- Oregon
- Pennsylvania
- Rhode Island
- South Carolina
- South Dakota
- Tennessee
- Texas
- Utah
- Virginia
- Vermont
- Washington
- Wisconsin
- West Virginia
- Wyoming
Residential Loan Officer Salary by City
Click to see the salary for Residential Loan Officer in these major U.S. cities.
| City Name | Average Salary |
|---|---|
| San Francisco, CA | $49,119 |
| Washington, DC | $43,736 |
| Miami, FL | $37,920 |
| Chicago, IL | $41,221 |
| Boston, MA | $44,050 |
| New York, NY | $45,897 |
| Dallas, TX | $38,785 |
If you'd like know Residential Loan Officer Salary in other cities, then please select a city in
Average Salary Range for Residential Loan Officer
Average Base Salary
Core compensation
33704
44592
Average Total Cash Compensation
Includes base and annual incentives
What is the average salary for Residential Loan Officer in 2024?
These charts show the average base salary (core compensation), as well as the average total cash compensation for the job of Residential Loan Officer in the United States. The base salary for Residential Loan Officer ranges from $33,704 to $44,592 with the average base salary of $39,296. The total cash compensation, which includes base, and annual incentives, can vary anywhere from $34,269 to $46,283 with the average total cash compensation of $39,890.
View Average Salary for Residential Loan Officer as table
| Average Salary | Average Salary Range | |
|---|---|---|
| Base Salary | $39,296 | $33,704 - $44,592 |
| Bonus | $594 | $565 - $1,691 |
| Total Pay | $39,890 | $34,269 - $46,283 |
* Base Salary represents gross income before taxes and deductions. It does not include additional pay such as benefits, bonuses, profit sharing or commissions.
* Total Pay combines base salary, bonuses, profit sharing, tips, commissions, overtime pay and other forms of cash earnings, as applicable for this job.
Estimate Salary for Residential Loan Officer online for free
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Please enter the following pay factors for Residential Loan Officer, to get a real-time salary target.
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Comments about Residential Loan Officer
What's the difference between Residential Mortgage Loan Officer and Residential Loan Officer?
According to our latest salary estimation on June 27, 2024. The average salary of Residential Loan Officer is $39,296, and the average salary of Residential Mortgage Loan Officer is $49,369. The average salary of Residential Mortgage Loan Officer is higher than Residential Loan Officer. ( 2024-06-27 salary.com )
I am a Residential Loan Officer, which location’s salary is higher, Auburn, AL or Bentonville, AR?
Bentonville, AR typically sees higher pay than Auburn, AL for Residential Loan Officer. a Residential Loan Officer Salary in Bentonville, AR is $35,523 as of June 27, 2024; a Residential Loan Officer Salary in Auburn, AL is $34,659 as of June 27, 2024. ( 2024-06-27 salary.com )
Residential Loan Officer Frequently Asked Questions
Why does the salary of a Residential Loan Officer vary from city to city?
The cost of living is tied to salaries.
If the expenses are higher in a particular city, then the wage level will be higher as well to afford the people can opportunity to live there.
This is why you're always going to make more money in New York City for example, than in a small town. ( 2024-06-27 salary.com )
What are the Pay Factors for Residential Loan Officer?
Salary ranges for a Residential Loan Officer can vary widely, depending on the city and several other pay factors, including (but not limited to) education level, certifications, additional skills, and work experience.
Click here to view Eight Factors That Can Affect Your Pay ( 2024-06-27 salary.com )
How the Pay Factors Influence Your Pay?
Salaries are ultimately dictated by the position being applied to, and hiring company,
but there are several important pay factors that come into play based on your individual history that could impact your value to the company.
Salary.com's Personal Salary Report will analyze these factors for you to help you maximize your earning potential. ( 2024-06-27 salary.com )
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Last Update: June 27, 2024