Business & Finance Rockford, IL Pop. 148,655

Loan Officer Salary in Rockford, Illinois

The median loan officer salary in Rockford, IL is $57,851 per year, which is 12% below the national median and 12.9% below the Illinois state average.

City Median
$57,851
vs State Avg
$-8,546
vs National
$-7,889
Cost of Living
82%

Loan Officer Salary in Rockford by Experience

In Rockford, an entry-level loan officer earns around $33,440, while experienced professionals earn up to $114,400 per year. The local cost of living index is 82% of the national average.

Entry Level (0-2 yrs)
$33,440
$-4,560 vs national
Mid Level (3-7 yrs)
$58,080
$-7,920 vs national
Senior Level (8+ yrs)
$114,400
$-15,600 vs national

Salary Percentiles in Rockford, IL

Percentile Rockford
10th Percentile $30,976
25th Percentile $39,952
Median (50th) $57,851
75th Percentile $88,000
90th Percentile $135,344

Loan Officer Salary in Other Illinois Cities

Naperville, IL
$74,944
Pop. 149,540
Chicago, IL
$74,286
Pop. 2,693,976
Aurora, IL
$66,397
Pop. 197,757
Springfield, IL
$59,823
Pop. 114,394

How to Become a Loan Officer in Rockford

Education

Most loan officer positions require a bachelor's degree. Rockford and the surrounding Illinois 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 Rockford may vary based on local industry and population growth.

Find Loan Officer Jobs in Rockford

Browse open loan officer positions in Rockford, IL:

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Frequently Asked Questions: Loan Officer Salary in Rockford

How much does a Loan Officer make in Rockford, IL? ▼
The median loan officer salary in Rockford, Illinois is $57,851 per year, which is 12% below the national median of $65,740. Salaries range from $30,976 (10th percentile) to $135,344 (90th percentile).
How much does a Loan Officer make per hour in Rockford? ▼
Based on the median annual salary of $57,851, a loan officer in Rockford earns approximately $28 per hour assuming a standard 2,080-hour work year.
How does Rockford compare to the Illinois state average for loan officer pay? ▼
Rockford's median loan officer salary of $57,851 is 12.9% below the Illinois state average of $66,397. The local cost of living index is 82% of the national average.
What is the cost of living in Rockford, IL? ▼
Rockford has a cost of living index of 82% compared to the national average. This means a loan officer salary of $57,851 in Rockford has more purchasing power than the same salary in an average-cost city.
What qualifications do I need to become a loan officer in Rockford? ▼
Most loan officer positions in Rockford 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.