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.