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

Arlington, VA
$90,064
Pop. 238,643
Virginia Beach, VA
$70,342
Pop. 449,974
Richmond, VA
$69,027
Pop. 226,610
Chesapeake, VA
$67,712
Pop. 249,422

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.

Find Loan Officer Jobs in Norfolk

Browse open loan officer positions in Norfolk, VA:

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Frequently Asked Questions: Loan Officer Salary in Norfolk

How much does a Loan Officer make in Norfolk, VA? ▼
The median loan officer salary in Norfolk, Virginia is $66,397 per year, which is 1.0% above the national median of $65,740. Salaries range from $35,552 (10th percentile) to $155,338 (90th percentile).
How much does a Loan Officer make per hour in Norfolk? ▼
Based on the median annual salary of $66,397, a loan officer in Norfolk earns approximately $32 per hour assuming a standard 2,080-hour work year.
How does Norfolk compare to the Virginia state average for loan officer pay? ▼
Norfolk's median loan officer salary of $66,397 is 7.3% below the Virginia state average of $71,657. The local cost of living index is 96% of the national average.
What is the cost of living in Norfolk, VA? ▼
Norfolk has a cost of living index of 96% compared to the national average. This means a loan officer salary of $66,397 in Norfolk has more purchasing power than the same salary in an average-cost city.
What qualifications do I need to become a loan officer in Norfolk? ▼
Most loan officer positions in Norfolk 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.