Business & Finance Richmond, VA Pop. 226,610

Loan Officer Salary in Richmond, Virginia

The median loan officer salary in Richmond, VA is $69,027 per year, which is 5.0% above the national median and 3.7% below the Virginia state average.

City Median
$69,027
vs State Avg
$-2,630
vs National
+$3,287
Cost of Living
100%

Loan Officer Salary in Richmond by Experience

In Richmond, an entry-level loan officer earns around $39,900, while experienced professionals earn up to $136,500 per year. The local cost of living index is 100% of the national average.

Entry Level (0-2 yrs)
$39,900
+$1,900 vs national
Mid Level (3-7 yrs)
$69,300
+$3,300 vs national
Senior Level (8+ yrs)
$136,500
+$6,500 vs national

Salary Percentiles in Richmond, VA

Percentile Richmond
10th Percentile $36,960
25th Percentile $47,670
Median (50th) $69,027
75th Percentile $105,000
90th Percentile $161,490

Loan Officer Salary in Other Virginia Cities

Arlington, VA
$90,064
Pop. 238,643
Virginia Beach, VA
$70,342
Pop. 449,974
Chesapeake, VA
$67,712
Pop. 249,422
Norfolk, VA
$66,397
Pop. 238,005

How to Become a Loan Officer in Richmond

Education

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

Find Loan Officer Jobs in Richmond

Browse open loan officer positions in Richmond, VA:

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Frequently Asked Questions: Loan Officer Salary in Richmond

How much does a Loan Officer make in Richmond, VA? ▼
The median loan officer salary in Richmond, Virginia is $69,027 per year, which is 5.0% above the national median of $65,740. Salaries range from $36,960 (10th percentile) to $161,490 (90th percentile).
How much does a Loan Officer make per hour in Richmond? ▼
Based on the median annual salary of $69,027, a loan officer in Richmond earns approximately $33 per hour assuming a standard 2,080-hour work year.
How does Richmond compare to the Virginia state average for loan officer pay? ▼
Richmond's median loan officer salary of $69,027 is 3.7% below the Virginia state average of $71,657. The local cost of living index is 100% of the national average.
What is the cost of living in Richmond, VA? ▼
Richmond has a cost of living index of 100% compared to the national average. This means a loan officer salary of $69,027 in Richmond has more purchasing power than the same salary in an average-cost city.
What qualifications do I need to become a loan officer in Richmond? ▼
Most loan officer positions in Richmond 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.