Business & Finance Portland, ME Pop. 68,408

Loan Officer Salary in Portland, Maine

The median loan officer salary in Portland, ME is $70,999 per year, which is 8.0% above the national median and 10.2% above the Maine state average.

City Median
$70,999
vs State Avg
+$6,574
vs National
+$5,259
Cost of Living
108%

Loan Officer Salary in Portland by Experience

In Portland, an entry-level loan officer earns around $41,040, while experienced professionals earn up to $140,400 per year. The local cost of living index is 108% of the national average.

Entry Level (0-2 yrs)
$41,040
+$3,040 vs national
Mid Level (3-7 yrs)
$71,280
+$5,280 vs national
Senior Level (8+ yrs)
$140,400
+$10,400 vs national

Salary Percentiles in Portland, ME

Percentile Portland
10th Percentile $38,016
25th Percentile $49,032
Median (50th) $70,999
75th Percentile $108,000
90th Percentile $166,104

Loan Officer Salary in Other Maine Cities

South Portland, ME
$69,027
Pop. 25,665
Bangor, ME
$60,481
Pop. 32,029
Lewiston, ME
$59,166
Pop. 37,121
Auburn, ME
$58,509
Pop. 23,926

How to Become a Loan Officer in Portland

Education

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

Find Loan Officer Jobs in Portland

Browse open loan officer positions in Portland, ME:

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Frequently Asked Questions: Loan Officer Salary in Portland

How much does a Loan Officer make in Portland, ME? ▼
The median loan officer salary in Portland, Maine is $70,999 per year, which is 8.0% above the national median of $65,740. Salaries range from $38,016 (10th percentile) to $166,104 (90th percentile).
How much does a Loan Officer make per hour in Portland? ▼
Based on the median annual salary of $70,999, a loan officer in Portland earns approximately $34 per hour assuming a standard 2,080-hour work year.
How does Portland compare to the Maine state average for loan officer pay? ▼
Portland's median loan officer salary of $70,999 is 10.2% above the Maine state average of $64,425. The local cost of living index is 108% of the national average.
What is the cost of living in Portland, ME? ▼
Portland has a cost of living index of 108% compared to the national average. This means a loan officer salary of $70,999 in Portland has less purchasing power than the same salary in an average-cost city.
What qualifications do I need to become a loan officer in Portland? ▼
Most loan officer positions in Portland 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.