Loan Officers Salary
Loan Officers in Indiana make a median of $72,960 a year, or about $35.08 an hour. The range runs from $44K at the entry level to $130K for experienced workers. Cost of living is below average (RPP 91.81), which stretches that salary to about $79,468 in buying power. Rent on a 2-bedroom averages $1,144/month, or 23.4% of estimated take-home pay.
Statewide average. Salary and cost of living vary significantly across Indiana. Jump to a metro for precise data:
So what does $73K get you in Indiana?
About loan officers
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What this looks like in Indiana
Loan officers pay in Indiana tracks closely to the national median, $73K locally vs. $77K nationwide, a 5% difference. Housing is manageable: a 2-bedroom at the HUD median costs $1,144/month, 23.9% of take-home, well inside the 30% guideline. Regional Price Parity sits at 91.81 (national = 100), meaning everyday costs run about 8% cheaper here. Your dollar stretches further than the headline salary suggests. Use the affordability calculator above to model your specific situation.
Compensation breakdown
Annual earnings by percentile, Indiana
Entry-level loan officers (10th percentile) start around $44K. Mid-career wages sit at $73K. Top earners bring in $130K or more, a $86K spread from bottom to top.
Loan Officers salary by metro in Indiana
12 metro areas with BLS data, ranked by median pay
| Metro area | Median salary | vs. state | Employment |
|---|---|---|---|
| Lafayette-West Lafayette | $76K | +4% | 110 |
| Terre Haute | $75K | +3% | 70 |
| Indianapolis-Carmel-Greenwood | $75K | +3% | 1,690 |
| Elkhart-Goshen | $74K | +2% | 110 |
| Evansville | $64K | -13% | 240 |
| Muncie | $63K | -13% | 150 |
| Fort Wayne | $63K | -13% | 410 |
| South Bend-Mishawaka | $63K | -13% | 160 |
| Bloomington | $63K | -14% | 90 |
| Kokomo | $61K | -17% | 60 |
| Michigan City-La Porte | $60K | -18% | 60 |
| Columbus | $59K | -19% | 50 |
Showing 1–10 of 12 metros
Compare to other states
Track loan officers salary changes
BLS updates this data quarterly. We'll email you when Indiana numbers change.
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Frequently asked questions
Can a loan officer afford a 2BR apartment alone in Indiana?
Yes — at the median salary of $73K, rent takes 23.9% of take-home pay. A 2-bedroom at the HUD Fair Market Rent runs $1,144/month. That stays under the 30% guideline most financial planners use.
What’s the entry-level salary for loan officers in Indiana?
The 10th-percentile wage — what new loan officers typically earn — is $44K/year. Take-home on that works out to about $2,632/month. At HUD’s $1,144/month FMR, rent would take 43% 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 Indiana?
Pay here is roughly in line with the national average — $73K locally vs. $77K nationally, a 5% difference.
How does Indiana compare to the national average for loan officers?
Indiana pays $73K median vs. the U.S. average of $77K — that’s -5%. After adjusting for local cost of living (RPP 91.81), the purchasing-power equivalent is $79K — still ahead of the national median.
How much do loan officers make in Indiana?
The median is $72,960 a year, that works out to about $35 an hour. But the range is wide: entry-level workers start around $43,870, and experienced loan officers can clear $129,740. These are BLS numbers, based on employer-reported data, not self-reported surveys.
Is $73K enough to live in Indiana?
On that salary, you'd take home roughly $4,791/month after taxes. A 2-bedroom here rents for about $1,144/month, which eats 23.9% 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 Indiana?
Indiana has a Regional Price Parity of 91.81 (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 $79,468 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.