Business & Finance Norfolk, VA
Pop. 238,005
Loan Officer Salary in Norfolk, Virginia
The median loan officer salary in Norfolk, VA is $66,397 per year, which is 1.0% above the national median and 7.3% below the Virginia state average.
City Median
$66,397
vs State Avg
$-5,260
vs National
+$657
Cost of Living
96%
Loan Officer Salary in Norfolk by Experience
In Norfolk, an entry-level loan officer earns around $38,380, while experienced professionals earn up to $131,300 per year. The local cost of living index is 96% of the national average.
Entry Level (0-2 yrs)
$38,380
+$380 vs national
Mid Level (3-7 yrs)
$66,660
+$660 vs national
Senior Level (8+ yrs)
$131,300
+$1,300 vs national
Salary Percentiles in Norfolk, VA
| Percentile | Norfolk |
|---|---|
| 10th Percentile | $35,552 |
| 25th Percentile | $45,854 |
| Median (50th) | $66,397 |
| 75th Percentile | $101,000 |
| 90th Percentile | $155,338 |
Loan Officer Salary in Other Virginia Cities
How to Become a Loan Officer in Norfolk
Education
Most loan officer positions require a bachelor's degree. Norfolk 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 Norfolk may vary based on local industry and population growth.