How to Become a Loan Officers in Tennessee
Loan Officers in Tennessee earn a median salary of $62,800/year, which is 18% below the national average. Tennessee has no state income tax. After taxes and rent, a loan officers takes home approximately $2,331/month. Most positions require Bachelor's degree.
What a loan officers can afford in Tennessee
Becoming a loan officers in Tennessee
Meet education requirements
Loan Officers positions in Tennessee typically require Bachelor's degree. Programs are available at colleges and training institutions across Tennessee. Research accredited programs in your area.
Gain required experience
Many loan officers positions in Tennessee require hands-on experience through internships, apprenticeships, or entry-level roles. Look for training programs and mentorship opportunities in your metro area.
Obtain Tennessee licensure or certification
Tennessee may require specific licensing or professional certification for loan officerss. Requirements vary by state, contact the Tennessee Department of Labor or relevant licensing board for current requirements, exam schedules, and application procedures.
Find positions in Tennessee
Tennessee employs 6,510 loan officers. The highest concentrations are in Knoxville and Johnson City.
Loan Officers salary by metro area in Tennessee
| Metro area | Median | Hourly | Employment |
|---|---|---|---|
| Knoxville | $64K | $30.69/hr | 930 |
| Johnson City | $64K | $30.57/hr | 190 |
| Memphis | $63K | $30.41/hr | 930 |
| Nashville-Davidson--Murfreesboro--Franklin | $63K | $30.19/hr | 1,770 |
| Chattanooga | $62K | $30.03/hr | 480 |
| Jackson | $62K | $29.57/hr | 150 |
| Clarksville | $60K | $28.98/hr | 210 |
| Kingsport-Bristol | $60K | $28.97/hr | 260 |
| Cleveland | $57K | $27.41/hr | 90 |
| Morristown | $47K | $22.66/hr | 50 |
Loan Officers salary range in Tennessee
Loan Officers careers in other states
Frequently asked questions
How much does a loan officers make in Tennessee?▼
The median loan officers salary in Tennessee is $62,800 per year ($30.19/hr). This is 18% below the national median of $76,690. Salaries range from $38,240 to $113,290.
What are the requirements to become a loan officers in Tennessee?▼
Loan Officers positions in Tennessee typically require Bachelor's degree. Tennessee may have specific licensing or certification requirements. Check with the Tennessee licensing board or department of labor for current requirements.
Can a loan officers afford to live in Tennessee?▼
At the median salary of $62,800, a loan officers in Tennessee would take home approximately $4,375/month after taxes. With median 2-bedroom rent at $2,044/month, that's 46.7% of take-home pay going to housing. This exceeds the recommended 30% guideline.
What are the best cities for loan officers in Tennessee?▼
The highest paying metro areas for loan officers in Tennessee are Knoxville ($63,830), Johnson City ($63,590), Memphis ($63,250). However, cost of living varies significantly between metros, a higher salary may not mean more purchasing power.
Does Tennessee have state income tax for loan officers?▼
No, Tennessee does not have a state income tax. This means loan officers keep more of their gross salary compared to states with income tax, a significant advantage for affordability.