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.