How to Become a Loan Officers in Iowa
Loan Officers in Iowa earn a median salary of $83,670/year, which is 9% above the national average. Iowa has a state income tax of ~5.2%. After taxes and rent, a loan officers takes home approximately $3,878/month. Most positions require Bachelor's degree.
What a loan officers can afford in Iowa
Becoming a loan officers in Iowa
Meet education requirements
Loan Officers positions in Iowa typically require Bachelor's degree. Programs are available at colleges and training institutions across Iowa. Research accredited programs in your area.
Gain required experience
Many loan officers positions in Iowa require hands-on experience through internships, apprenticeships, or entry-level roles. Look for training programs and mentorship opportunities in your metro area.
Obtain Iowa licensure or certification
Iowa may require specific licensing or professional certification for loan officerss. Requirements vary by state, contact the Iowa Department of Labor or relevant licensing board for current requirements, exam schedules, and application procedures.
Find positions in Iowa
Iowa employs 2,840 loan officers. The highest concentrations are in Des Moines-West Des Moines and Iowa City.
Loan Officers salary by metro area in Iowa
| Metro area | Median | Hourly | Employment |
|---|---|---|---|
| Des Moines-West Des Moines | $101K | $48.65/hr | 650 |
| Iowa City | $99K | $47.42/hr | 120 |
| Cedar Rapids | $86K | $41.34/hr | 190 |
| Ames | $84K | $40.61/hr | 70 |
| Sioux City | $82K | $39.32/hr | 140 |
| Dubuque | $76K | $36.62/hr | 110 |
| Davenport-Moline-Rock Island | $75K | $36.24/hr | 350 |
| Waterloo-Cedar Falls | $73K | $35.09/hr | 190 |
Loan Officers salary range in Iowa
Loan Officers careers in other states
Frequently asked questions
How much does a loan officers make in Iowa?▼
The median loan officers salary in Iowa is $83,670 per year ($40.23/hr). This is 9% above the national median of $76,690. Salaries range from $51,690 to $138,150.
What are the requirements to become a loan officers in Iowa?▼
Loan Officers positions in Iowa typically require Bachelor's degree. Iowa may have specific licensing or certification requirements. Check with the Iowa licensing board or department of labor for current requirements.
Can a loan officers afford to live in Iowa?▼
At the median salary of $83,670, a loan officers in Iowa would take home approximately $5,242/month after taxes. With median 2-bedroom rent at $1,364/month, that's 26% of take-home pay going to housing. This is within the recommended 30% guideline.
What are the best cities for loan officers in Iowa?▼
The highest paying metro areas for loan officers in Iowa are Des Moines-West Des Moines ($101,190), Iowa City ($98,630), Cedar Rapids ($85,990). However, cost of living varies significantly between metros, a higher salary may not mean more purchasing power.
Does Iowa have state income tax for loan officers?▼
Yes, Iowa has a state income tax rate of approximately 5.2%. On a $83,670 salary, this means roughly $4,344/year in state income tax. Use our take-home pay calculator for a detailed breakdown.