Business & Finance Cedar Rapids, IA Pop. 137,710

Loan Officer Salary in Cedar Rapids, Iowa

The median loan officer salary in Cedar Rapids, IA is $57,851 per year, which is 12% below the national median and 1.1% below the Iowa state average.

City Median
$57,851
vs State Avg
$-658
vs National
$-7,889
Cost of Living
88%

Loan Officer Salary in Cedar Rapids by Experience

In Cedar Rapids, 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 88% 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 Cedar Rapids, IA

Percentile Cedar Rapids
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 Iowa Cities

Iowa City, IA
$62,453
Pop. 74,828
Des Moines, IA
$60,481
Pop. 214,133
Davenport, IA
$56,536
Pop. 101,724
Sioux City, IA
$55,222
Pop. 85,797

How to Become a Loan Officer in Cedar Rapids

Education

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

Find Loan Officer Jobs in Cedar Rapids

Browse open loan officer positions in Cedar Rapids, IA:

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Frequently Asked Questions: Loan Officer Salary in Cedar Rapids

How much does a Loan Officer make in Cedar Rapids, IA? ▼
The median loan officer salary in Cedar Rapids, Iowa 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 Cedar Rapids? ▼
Based on the median annual salary of $57,851, a loan officer in Cedar Rapids earns approximately $28 per hour assuming a standard 2,080-hour work year.
How does Cedar Rapids compare to the Iowa state average for loan officer pay? ▼
Cedar Rapids's median loan officer salary of $57,851 is 1.1% below the Iowa state average of $58,509. The local cost of living index is 88% of the national average.
What is the cost of living in Cedar Rapids, IA? ▼
Cedar Rapids has a cost of living index of 88% compared to the national average. This means a loan officer salary of $57,851 in Cedar Rapids has more purchasing power than the same salary in an average-cost city.
What qualifications do I need to become a loan officer in Cedar Rapids? ▼
Most loan officer positions in Cedar Rapids 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.