Business & Finance Lowell, MA
Pop. 115,554
Loan Officer Salary in Lowell, Massachusetts
The median loan officer salary in Lowell, MA is $73,629 per year, which is 12.0% above the national median and 21.1% below the Massachusetts state average.
City Median
$73,629
vs State Avg
$-19,722
vs National
+$7,889
Cost of Living
105%
Loan Officer Salary in Lowell by Experience
In Lowell, an entry-level loan officer earns around $42,560, while experienced professionals earn up to $145,600 per year. The local cost of living index is 105% of the national average.
Entry Level (0-2 yrs)
$42,560
+$4,560 vs national
Mid Level (3-7 yrs)
$73,920
+$7,920 vs national
Senior Level (8+ yrs)
$145,600
+$15,600 vs national
Salary Percentiles in Lowell, MA
| Percentile | Lowell |
|---|---|
| 10th Percentile | $39,424 |
| 25th Percentile | $50,848 |
| Median (50th) | $73,629 |
| 75th Percentile | $112,000 |
| 90th Percentile | $172,256 |
Loan Officer Salary in Other Massachusetts Cities
How to Become a Loan Officer in Lowell
Education
Most loan officer positions require a bachelor's degree. Lowell 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 Lowell may vary based on local industry and population growth.