Business & Finance Silver Spring, MD Pop. 81,015

Loan Officer Salary in Silver Spring, Maryland

The median loan officer salary in Silver Spring, MD is $83,490 per year, which is 27.0% above the national median and 10.4% above the Maryland state average.

City Median
$83,490
vs State Avg
+$7,889
vs National
+$17,750
Cost of Living
122%

Loan Officer Salary in Silver Spring by Experience

In Silver Spring, an entry-level loan officer earns around $48,260, while experienced professionals earn up to $165,100 per year. The local cost of living index is 122% of the national average.

Entry Level (0-2 yrs)
$48,260
+$10,260 vs national
Mid Level (3-7 yrs)
$83,820
+$17,820 vs national
Senior Level (8+ yrs)
$165,100
+$35,100 vs national

Salary Percentiles in Silver Spring, MD

Percentile Silver Spring
10th Percentile $44,704
25th Percentile $57,658
Median (50th) $83,490
75th Percentile $127,000
90th Percentile $195,326

Loan Officer Salary in Other Maryland Cities

Columbia, MD
$80,860
Pop. 104,681
Germantown, MD
$78,888
Pop. 90,676
Baltimore, MD
$74,286
Pop. 585,708
Waldorf, MD
$72,314
Pop. 77,000

How to Become a Loan Officer in Silver Spring

Education

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

Find Loan Officer Jobs in Silver Spring

Browse open loan officer positions in Silver Spring, MD:

Indeed → LinkedIn → ZipRecruiter → Glassdoor →

Frequently Asked Questions: Loan Officer Salary in Silver Spring

How much does a Loan Officer make in Silver Spring, MD? ▼
The median loan officer salary in Silver Spring, Maryland is $83,490 per year, which is 27.0% above the national median of $65,740. Salaries range from $44,704 (10th percentile) to $195,326 (90th percentile).
How much does a Loan Officer make per hour in Silver Spring? ▼
Based on the median annual salary of $83,490, a loan officer in Silver Spring earns approximately $40 per hour assuming a standard 2,080-hour work year.
How does Silver Spring compare to the Maryland state average for loan officer pay? ▼
Silver Spring's median loan officer salary of $83,490 is 10.4% above the Maryland state average of $75,601. The local cost of living index is 122% of the national average.
What is the cost of living in Silver Spring, MD? ▼
Silver Spring has a cost of living index of 122% compared to the national average. This means a loan officer salary of $83,490 in Silver Spring has less purchasing power than the same salary in an average-cost city.
What qualifications do I need to become a loan officer in Silver Spring? ▼
Most loan officer positions in Silver Spring 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.