Business & Finance Baltimore, MD Pop. 585,708

Loan Officer Salary in Baltimore, Maryland

The median loan officer salary in Baltimore, MD is $74,286 per year, which is 13.0% above the national median and 1.7% below the Maryland state average.

City Median
$74,286
vs State Avg
$-1,315
vs National
+$8,546
Cost of Living
108%

Loan Officer Salary in Baltimore by Experience

In Baltimore, an entry-level loan officer earns around $42,940, while experienced professionals earn up to $146,900 per year. The local cost of living index is 108% of the national average.

Entry Level (0-2 yrs)
$42,940
+$4,940 vs national
Mid Level (3-7 yrs)
$74,580
+$8,580 vs national
Senior Level (8+ yrs)
$146,900
+$16,900 vs national

Salary Percentiles in Baltimore, MD

Percentile Baltimore
10th Percentile $39,776
25th Percentile $51,302
Median (50th) $74,286
75th Percentile $113,000
90th Percentile $173,794

Loan Officer Salary in Other Maryland Cities

Silver Spring, MD
$83,490
Pop. 81,015
Columbia, MD
$80,860
Pop. 104,681
Germantown, MD
$78,888
Pop. 90,676
Waldorf, MD
$72,314
Pop. 77,000

How to Become a Loan Officer in Baltimore

Education

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

Find Loan Officer Jobs in Baltimore

Browse open loan officer positions in Baltimore, MD:

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Frequently Asked Questions: Loan Officer Salary in Baltimore

How much does a Loan Officer make in Baltimore, MD? ▼
The median loan officer salary in Baltimore, Maryland is $74,286 per year, which is 13.0% above the national median of $65,740. Salaries range from $39,776 (10th percentile) to $173,794 (90th percentile).
How much does a Loan Officer make per hour in Baltimore? ▼
Based on the median annual salary of $74,286, a loan officer in Baltimore earns approximately $36 per hour assuming a standard 2,080-hour work year.
How does Baltimore compare to the Maryland state average for loan officer pay? ▼
Baltimore's median loan officer salary of $74,286 is 1.7% below the Maryland state average of $75,601. The local cost of living index is 108% of the national average.
What is the cost of living in Baltimore, MD? ▼
Baltimore has a cost of living index of 108% compared to the national average. This means a loan officer salary of $74,286 in Baltimore has less purchasing power than the same salary in an average-cost city.
What qualifications do I need to become a loan officer in Baltimore? ▼
Most loan officer positions in Baltimore 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.