Business & Finance Cambridge, MA Pop. 118,403

Loan Officer Salary in Cambridge, Massachusetts

The median loan officer salary in Cambridge, MA is $109,786 per year, which is 67.0% above the national median and 17.6% above the Massachusetts state average.

City Median
$109,786
vs State Avg
+$16,435
vs National
+$44,046
Cost of Living
160%

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

Cambridge offers a median loan officer salary of $109,786, which is $16,435 above the Massachusetts state average of $93,351. Compared to the national median of $65,740, Cambridge pays above average for this role.

However, Cambridge's cost of living index is 160%, significantly above the national average. After adjusting for local costs, the $109,786 salary has an effective purchasing power of approximately $68,616. Housing, transportation, and food costs in Cambridge should be factored into any relocation or job-change decision.

The salary range for loan officers in Cambridge spans from $58,784 at the 10th percentile to $256,846 at the 90th percentile — a $198,062 spread. Entry-level professionals start around $63,460, while senior loan officers with 8+ years of experience can earn up to $217,100. With a population of 118,403, Cambridge is a mid-sized metro with a growing job market.

Loan Officer Salary in Cambridge by Experience

In Cambridge, an entry-level loan officer earns around $63,460, while experienced professionals earn up to $217,100 per year. The local cost of living index is 160% of the national average.

Entry Level (0-2 yrs)
$63,460
+$25,460 vs national
Mid Level (3-7 yrs)
$110,220
+$44,220 vs national
Senior Level (8+ yrs)
$217,100
+$87,100 vs national

Salary Percentiles in Cambridge, MA

Percentile Cambridge
10th Percentile $58,784
25th Percentile $75,818
Median (50th) $109,786
75th Percentile $167,000
90th Percentile $256,846

Loan Officer Salary in Other Massachusetts Cities

Boston, MA
$104,527
Pop. 675,647
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 Cambridge

Education

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

Find Loan Officer Jobs in Cambridge

Browse open loan officer positions in Cambridge, MA:

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Frequently Asked Questions: Loan Officer Salary in Cambridge

How much does a Loan Officer make in Cambridge, MA? ▼
The median loan officer salary in Cambridge, Massachusetts is $109,786 per year, which is 67.0% above the national median of $65,740. Salaries range from $58,784 (10th percentile) to $256,846 (90th percentile).
How much does a Loan Officer make per hour in Cambridge? ▼
Based on the median annual salary of $109,786, a loan officer in Cambridge earns approximately $53 per hour assuming a standard 2,080-hour work year.
How does Cambridge compare to the Massachusetts state average for loan officer pay? ▼
Cambridge's median loan officer salary of $109,786 is 17.6% above the Massachusetts state average of $93,351. The local cost of living index is 160% of the national average.
What is the cost of living in Cambridge, MA? ▼
Cambridge has a cost of living index of 160% compared to the national average. This means a loan officer salary of $109,786 in Cambridge has less purchasing power than the same salary in an average-cost city.
What qualifications do I need to become a loan officer in Cambridge? ▼
Most loan officer positions in Cambridge 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.