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

Cambridge, MA
$109,786
Pop. 118,403
Boston, MA
$104,527
Pop. 675,647
Worcester, MA
$76,916
Pop. 206,518
Springfield, MA
$69,027
Pop. 155,929

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.

Find Loan Officer Jobs in Lowell

Browse open loan officer positions in Lowell, MA:

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Frequently Asked Questions: Loan Officer Salary in Lowell

How much does a Loan Officer make in Lowell, MA? ▼
The median loan officer salary in Lowell, Massachusetts is $73,629 per year, which is 12.0% above the national median of $65,740. Salaries range from $39,424 (10th percentile) to $172,256 (90th percentile).
How much does a Loan Officer make per hour in Lowell? ▼
Based on the median annual salary of $73,629, a loan officer in Lowell earns approximately $35 per hour assuming a standard 2,080-hour work year.
How does Lowell compare to the Massachusetts state average for loan officer pay? ▼
Lowell's median loan officer salary of $73,629 is 21.1% below the Massachusetts state average of $93,351. The local cost of living index is 105% of the national average.
What is the cost of living in Lowell, MA? ▼
Lowell has a cost of living index of 105% compared to the national average. This means a loan officer salary of $73,629 in Lowell has less purchasing power than the same salary in an average-cost city.
What qualifications do I need to become a loan officer in Lowell? ▼
Most loan officer positions in Lowell 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.