Business & Finance Rio Rancho, NM Pop. 104,046

Loan Officer Salary in Rio Rancho, New Mexico

The median loan officer salary in Rio Rancho, NM is $60,481 per year, which is 8% below the national median and 1.1% below the New Mexico state average.

City Median
$60,481
vs State Avg
$-657
vs National
$-5,259
Cost of Living
92%

Loan Officer Salary in Rio Rancho by Experience

In Rio Rancho, an entry-level loan officer earns around $34,960, while experienced professionals earn up to $119,600 per year. The local cost of living index is 92% of the national average.

Entry Level (0-2 yrs)
$34,960
$-3,040 vs national
Mid Level (3-7 yrs)
$60,720
$-5,280 vs national
Senior Level (8+ yrs)
$119,600
$-10,400 vs national

Salary Percentiles in Rio Rancho, NM

Percentile Rio Rancho
10th Percentile $32,384
25th Percentile $41,768
Median (50th) $60,481
75th Percentile $92,000
90th Percentile $141,496

Loan Officer Salary in Other New Mexico Cities

Santa Fe, NM
$72,314
Pop. 87,505
Albuquerque, NM
$62,453
Pop. 564,559
Las Cruces, NM
$57,851
Pop. 111,385
Roswell, NM
$53,907
Pop. 48,422

How to Become a Loan Officer in Rio Rancho

Education

Most loan officer positions require a bachelor's degree. Rio Rancho and the surrounding New Mexico 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 Rio Rancho may vary based on local industry and population growth.

Find Loan Officer Jobs in Rio Rancho

Browse open loan officer positions in Rio Rancho, NM:

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Frequently Asked Questions: Loan Officer Salary in Rio Rancho

How much does a Loan Officer make in Rio Rancho, NM? ▼
The median loan officer salary in Rio Rancho, New Mexico is $60,481 per year, which is 8% below the national median of $65,740. Salaries range from $32,384 (10th percentile) to $141,496 (90th percentile).
How much does a Loan Officer make per hour in Rio Rancho? ▼
Based on the median annual salary of $60,481, a loan officer in Rio Rancho earns approximately $29 per hour assuming a standard 2,080-hour work year.
How does Rio Rancho compare to the New Mexico state average for loan officer pay? ▼
Rio Rancho's median loan officer salary of $60,481 is 1.1% below the New Mexico state average of $61,138. The local cost of living index is 92% of the national average.
What is the cost of living in Rio Rancho, NM? ▼
Rio Rancho has a cost of living index of 92% compared to the national average. This means a loan officer salary of $60,481 in Rio Rancho has more purchasing power than the same salary in an average-cost city.
What qualifications do I need to become a loan officer in Rio Rancho? ▼
Most loan officer positions in Rio Rancho 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.