Business & Finance Newark, DE Pop. 33,398

Loan Officer Salary in Newark, Delaware

The median loan officer salary in Newark, DE is $70,342 per year, which is 7.0% above the national median and 0.9% above the Delaware state average.

City Median
$70,342
vs State Avg
+$658
vs National
+$4,602
Cost of Living
102%

Loan Officer Salary in Newark by Experience

In Newark, an entry-level loan officer earns around $40,660, while experienced professionals earn up to $139,100 per year. The local cost of living index is 102% of the national average.

Entry Level (0-2 yrs)
$40,660
+$2,660 vs national
Mid Level (3-7 yrs)
$70,620
+$4,620 vs national
Senior Level (8+ yrs)
$139,100
+$9,100 vs national

Salary Percentiles in Newark, DE

Percentile Newark
10th Percentile $37,664
25th Percentile $48,578
Median (50th) $70,342
75th Percentile $107,000
90th Percentile $164,566

Loan Officer Salary in Other Delaware Cities

Wilmington, DE
$72,314
Pop. 70,898
Bear, DE
$68,370
Pop. 21,000
Middletown, DE
$67,712
Pop. 22,350
Dover, DE
$66,397
Pop. 39,403

How to Become a Loan Officer in Newark

Education

Most loan officer positions require a bachelor's degree. Newark and the surrounding Delaware area have institutions offering relevant programs.

Key Skills

Credit AnalysisMortgage LendingCustomer ServiceRegulatory ComplianceSalesFinancial Software

Job Outlook

Nationally, loan officer employment is projected to grow 3% over the next decade (as fast as average). Demand in Newark may vary based on local industry and population growth.

Find Loan Officer Jobs in Newark

Browse open loan officer positions in Newark, DE:

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Frequently Asked Questions: Loan Officer Salary in Newark

How much does a Loan Officer make in Newark, DE? ▼
The median loan officer salary in Newark, Delaware is $70,342 per year, which is 7.0% above the national median of $65,740. Salaries range from $37,664 (10th percentile) to $164,566 (90th percentile).
How much does a Loan Officer make per hour in Newark? ▼
Based on the median annual salary of $70,342, a loan officer in Newark earns approximately $34 per hour assuming a standard 2,080-hour work year.
How does Newark compare to the Delaware state average for loan officer pay? ▼
Newark's median loan officer salary of $70,342 is 0.9% above the Delaware state average of $69,684. The local cost of living index is 102% of the national average.
What is the cost of living in Newark, DE? ▼
Newark has a cost of living index of 102% compared to the national average. This means a loan officer salary of $70,342 in Newark has less purchasing power than the same salary in an average-cost city.
What qualifications do I need to become a loan officer in Newark? ▼
Most loan officer positions in Newark require a bachelor's degree. Key skills include Credit Analysis, Mortgage Lending, Customer Service, Regulatory Compliance. The job market is projected to grow 3% nationally over the next decade.