Business & Finance South Portland, ME Pop. 25,665

Loan Officer Salary in South Portland, Maine

The median loan officer salary in South Portland, ME is $69,027 per year, which is 5.0% above the national median and 7.1% above the Maine state average.

City Median
$69,027
vs State Avg
+$4,602
vs National
+$3,287
Cost of Living
105%

Loan Officer Salary in South Portland by Experience

In South Portland, an entry-level loan officer earns around $39,900, while experienced professionals earn up to $136,500 per year. The local cost of living index is 105% of the national average.

Entry Level (0-2 yrs)
$39,900
+$1,900 vs national
Mid Level (3-7 yrs)
$69,300
+$3,300 vs national
Senior Level (8+ yrs)
$136,500
+$6,500 vs national

Salary Percentiles in South Portland, ME

Percentile South Portland
10th Percentile $36,960
25th Percentile $47,670
Median (50th) $69,027
75th Percentile $105,000
90th Percentile $161,490

Loan Officer Salary in Other Maine Cities

Portland, ME
$70,999
Pop. 68,408
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 South Portland

Education

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

Find Loan Officer Jobs in South Portland

Browse open loan officer positions in South Portland, ME:

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Frequently Asked Questions: Loan Officer Salary in South Portland

How much does a Loan Officer make in South Portland, ME? ▼
The median loan officer salary in South Portland, Maine is $69,027 per year, which is 5.0% above the national median of $65,740. Salaries range from $36,960 (10th percentile) to $161,490 (90th percentile).
How much does a Loan Officer make per hour in South Portland? ▼
Based on the median annual salary of $69,027, a loan officer in South Portland earns approximately $33 per hour assuming a standard 2,080-hour work year.
How does South Portland compare to the Maine state average for loan officer pay? ▼
South Portland's median loan officer salary of $69,027 is 7.1% above the Maine state average of $64,425. The local cost of living index is 105% of the national average.
What is the cost of living in South Portland, ME? ▼
South Portland has a cost of living index of 105% compared to the national average. This means a loan officer salary of $69,027 in South 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 South Portland? ▼
Most loan officer positions in South 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.