Loan Officers Salary
Loan Officers in Dothan, AL make a median of $66,230 a year, or about $31.84 an hour. The range runs from $38K at the entry level to $159K for experienced workers. Cost of living is below average (RPP 83.83), which stretches that salary to about $79,005 in buying power. Rent on a 2-bedroom averages $950/month, or 21.8% of estimated take-home pay.
So what does $66K get you in Dothan?
Groceries, utilities, transportation, and healthcare scaled from national averages by Dothan’s Regional Price Parity (83.83). Rent from HUD Fair Market Rents. Taxes estimated for single filer, standard deduction. * Healthcare is the employee-paid share only (premiums + out-of-pocket). Actual costs vary by coverage type: employer-sponsored, ACA marketplace, or uninsured.
About loan officers
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What this looks like in Dothan
Pay for loan officers in Dothan runs about 14% below the U.S. median of $77K. Housing is manageable: a 2-bedroom at the HUD median costs $950/month, 22% of take-home, well inside the 30% guideline. Regional Price Parity sits at 83.83 (national = 100), meaning everyday costs run about 16% cheaper here. Your dollar stretches further than the headline salary suggests. Lower pay, lower costs, Dothan can be a reasonable trade-off for loan officerss who value affordability over top-dollar markets.
Compared to nearby metros
Median pay for loan officers in metros near Dothan, adjusted for local cost of living.
| Metro | Median pay | COL-adjusted |
|---|---|---|
| Birmingham | $67K | $73K |
| Montgomery | $64K | $71K |
| Huntsville | $77K | $83K |
| Mobile | $73K | $83K |
COL-adjusted = median salary ÷ (BEA Regional Price Parity ÷ 100). Expresses purchasing power in national-average dollars.
Compensation breakdown
Annual earnings by percentile, Dothan, AL
Entry-level loan officers (10th percentile) start around $38K. Mid-career wages sit at $66K. Top earners bring in $159K or more, a $121K spread from bottom to top.
Loan Officers pay across states
Median income ranked highest to lowest, compared to the national figure
View Loan Officers salary in all states
| State | Median salary | vs. national | Employment |
|---|---|---|---|
| Massachusetts | $102K | +32% | 4,470 |
| Connecticut | $96K | +25% | 2,220 |
| New York | $96K | +25% | 10,840 |
| Minnesota | $95K | +24% | 6,430 |
| Colorado | $95K | +23% | 3,230 |
| Oregon | $94K | +23% | 4,220 |
| New Jersey | $93K | +21% | 6,200 |
| District of Columbia | $93K | +21% | 370 |
| Vermont | $89K | +16% | 350 |
| Kansas | $87K | +13% | 3,540 |
| North Dakota | $85K | +10% | 1,370 |
| Iowa | $84K | +9% | 2,840 |
| Delaware | $83K | +8% | 1,420 |
| Maine | $82K | +7% | 1,060 |
| California | $82K | +7% | 25,790 |
| New Hampshire | $81K | +5% | 1,120 |
| Washington | $80K | +4% | 6,040 |
| South Dakota | $80K | +4% | 1,820 |
| Nebraska | $80K | +4% | 2,710 |
| Wyoming | $80K | +4% | 740 |
| Illinois | $79K | +3% | 10,890 |
| Virginia | $78K | +2% | 8,790 |
| Wisconsin | $78K | +2% | 4,940 |
| Rhode Island | $77K | +1% | 1,290 |
| Ohio | $76K | -0% | 9,880 |
| North Carolina | $76K | -1% | 10,700 |
| Michigan | $74K | -3% | 11,340 |
| Missouri | $74K | -4% | 7,050 |
| Maryland | $74K | -4% | 3,850 |
| Oklahoma | $73K | -5% | 4,100 |
| Indiana | $73K | -5% | 4,790 |
| Alaska | $73K | -5% | 490 |
| Montana | $72K | -7% | 1,180 |
| Florida | $71K | -7% | 18,830 |
| Idaho | $71K | -7% | 2,030 |
| Arkansas | $70K | -8% | 2,610 |
| Pennsylvania | $69K | -10% | 8,140 |
| Georgia | $68K | -11% | 9,540 |
| Alabama | $67K | -13% | 5,050 |
| Texas | $66K | -13% | 21,200 |
| Nevada | $65K | -16% | 2,580 |
| Hawaii | $64K | -17% | 980 |
| South Carolina | $63K | -18% | 4,140 |
| Tennessee | $63K | -18% | 6,510 |
| New Mexico | $63K | -18% | 1,140 |
| Arizona | $62K | -19% | 10,020 |
| Kentucky | $62K | -19% | 3,940 |
| Louisiana | $61K | -20% | 2,810 |
| Mississippi | $60K | -21% | 3,450 |
| Utah | $59K | -22% | 3,990 |
| West Virginia | $58K | -25% | 1,290 |
Showing 1–10 of 51 (all 50 states + DC)
Track loan officers salary changes
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Frequently asked questions
Can a loan officer afford a 2BR apartment alone in Dothan?
Yes — at the median salary of $66K, rent takes 22% of take-home pay. A 2-bedroom at the HUD Fair Market Rent runs $950/month. That stays under the 30% guideline most financial planners use.
What’s the entry-level salary for loan officers in Dothan?
The 10th-percentile wage — what new loan officers typically earn — is $38K/year. Take-home on that works out to about $2,285/month. At HUD’s $950/month FMR, rent would take 42% of that take-home — above the 30% guideline, so a 1-bedroom or shared housing is likely necessary starting out.
Is loan officer a high-paying job in Dothan?
Local pay runs 14% below the national median — $66K here vs. $77K nationally. Cost of living is 16% below the national average, which narrows that gap in real purchasing power.
How does Dothan compare to the national average for loan officers?
Dothan pays $66K median vs. the U.S. average of $77K — that’s -14%. After adjusting for local cost of living (RPP 83.83), the purchasing-power equivalent is $79K — still ahead of the national median.
How much do loan officers make in Dothan, AL?
The median is $66,230 a year, that works out to about $32 an hour. But the range is wide: entry-level workers start around $38,080, and experienced loan officers can clear $159,480. These are BLS numbers, based on employer-reported data, not self-reported surveys.
Is $66K enough to live in Dothan?
On that salary, you'd take home roughly $4,319/month after taxes. A 2-bedroom here rents for about $950/month, which eats 22% of your paycheck. That's under the 30% guideline most financial planners use, so the numbers work.
How far does a loan officers salary go in Dothan?
Dothan has a Regional Price Parity of 83.83 (100 is the national average). That's below average, your money stretches further here than the raw salary number suggests. After cost-of-living adjustment, the median loan officers salary is worth about $79,005 in national-average purchasing power.
Where do loan officers get paid the most?
The table above ranks every state by median pay for this role. Keep in mind that the highest-paying states tend to have the highest costs of living, so the top salary doesn't always mean the most money in your pocket.