Business & Finance Chesapeake, VA Pop. 249,422

Loan Officer Salary in Chesapeake, Virginia

The median loan officer salary in Chesapeake, VA is $67,712 per year, which is 3.0% above the national median and 5.5% below the Virginia state average.

City Median
$67,712
vs State Avg
$-3,945
vs National
+$1,972
Cost of Living
98%

Loan Officer Salary in Chesapeake by Experience

In Chesapeake, an entry-level loan officer earns around $39,140, while experienced professionals earn up to $133,900 per year. The local cost of living index is 98% of the national average.

Entry Level (0-2 yrs)
$39,140
+$1,140 vs national
Mid Level (3-7 yrs)
$67,980
+$1,980 vs national
Senior Level (8+ yrs)
$133,900
+$3,900 vs national

Salary Percentiles in Chesapeake, VA

Percentile Chesapeake
10th Percentile $36,256
25th Percentile $46,762
Median (50th) $67,712
75th Percentile $103,000
90th Percentile $158,414

Loan Officer Salary in Other Virginia Cities

Arlington, VA
$90,064
Pop. 238,643
Virginia Beach, VA
$70,342
Pop. 449,974
Richmond, VA
$69,027
Pop. 226,610
Norfolk, VA
$66,397
Pop. 238,005

How to Become a Loan Officer in Chesapeake

Education

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

Find Loan Officer Jobs in Chesapeake

Browse open loan officer positions in Chesapeake, VA:

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Frequently Asked Questions: Loan Officer Salary in Chesapeake

How much does a Loan Officer make in Chesapeake, VA? ▼
The median loan officer salary in Chesapeake, Virginia is $67,712 per year, which is 3.0% above the national median of $65,740. Salaries range from $36,256 (10th percentile) to $158,414 (90th percentile).
How much does a Loan Officer make per hour in Chesapeake? ▼
Based on the median annual salary of $67,712, a loan officer in Chesapeake earns approximately $33 per hour assuming a standard 2,080-hour work year.
How does Chesapeake compare to the Virginia state average for loan officer pay? ▼
Chesapeake's median loan officer salary of $67,712 is 5.5% below the Virginia state average of $71,657. The local cost of living index is 98% of the national average.
What is the cost of living in Chesapeake, VA? ▼
Chesapeake has a cost of living index of 98% compared to the national average. This means a loan officer salary of $67,712 in Chesapeake has more purchasing power than the same salary in an average-cost city.
What qualifications do I need to become a loan officer in Chesapeake? ▼
Most loan officer positions in Chesapeake 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.