Business & Finance Boston, MA Pop. 675,647

Loan Officer Salary in Boston, Massachusetts

The median loan officer salary in Boston, MA is $104,527 per year, which is 59.0% above the national median and 12.0% above the Massachusetts state average.

City Median
$104,527
vs State Avg
+$11,176
vs National
+$38,787
Cost of Living
152%

Loan Officer Pay in Boston: What to Expect (2026)

Boston offers a median loan officer salary of $104,527, which is $11,176 above the Massachusetts state average of $93,351. Compared to the national median of $65,740, Boston pays above average for this role.

However, Boston's cost of living index is 152%, significantly above the national average. After adjusting for local costs, the $104,527 salary has an effective purchasing power of approximately $68,768. Housing, transportation, and food costs in Boston should be factored into any relocation or job-change decision.

The salary range for loan officers in Boston spans from $55,968 at the 10th percentile to $244,542 at the 90th percentile — a $188,574 spread. Entry-level professionals start around $60,420, while senior loan officers with 8+ years of experience can earn up to $206,700. As a major metro area with a population of 675,647, Boston typically offers more job opportunities and employer competition, which can drive salaries higher.

Loan Officer Salary in Boston by Experience

In Boston, an entry-level loan officer earns around $60,420, while experienced professionals earn up to $206,700 per year. The local cost of living index is 152% of the national average.

Entry Level (0-2 yrs)
$60,420
+$22,420 vs national
Mid Level (3-7 yrs)
$104,940
+$38,940 vs national
Senior Level (8+ yrs)
$206,700
+$76,700 vs national

Salary Percentiles in Boston, MA

Percentile Boston
10th Percentile $55,968
25th Percentile $72,186
Median (50th) $104,527
75th Percentile $159,000
90th Percentile $244,542

Loan Officer Salary in Other Massachusetts Cities

Cambridge, MA
$109,786
Pop. 118,403
Worcester, MA
$76,916
Pop. 206,518
Lowell, MA
$73,629
Pop. 115,554
Springfield, MA
$69,027
Pop. 155,929

How to Become a Loan Officer in Boston

Education

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

Find Loan Officer Jobs in Boston

Browse open loan officer positions in Boston, MA:

Indeed → LinkedIn → ZipRecruiter → Glassdoor →

Frequently Asked Questions: Loan Officer Salary in Boston

How much does a Loan Officer make in Boston, MA? ▼
The median loan officer salary in Boston, Massachusetts is $104,527 per year, which is 59.0% above the national median of $65,740. Salaries range from $55,968 (10th percentile) to $244,542 (90th percentile).
How much does a Loan Officer make per hour in Boston? ▼
Based on the median annual salary of $104,527, a loan officer in Boston earns approximately $50 per hour assuming a standard 2,080-hour work year.
How does Boston compare to the Massachusetts state average for loan officer pay? ▼
Boston's median loan officer salary of $104,527 is 12.0% above the Massachusetts state average of $93,351. The local cost of living index is 152% of the national average.
What is the cost of living in Boston, MA? ▼
Boston has a cost of living index of 152% compared to the national average. This means a loan officer salary of $104,527 in Boston has less purchasing power than the same salary in an average-cost city.
What qualifications do I need to become a loan officer in Boston? ▼
Most loan officer positions in Boston 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.