Loan Officers Salary
Loan Officers in Massachusetts make a median of $101,600 a year, or about $48.85 an hour. The range runs from $65K at the entry level to $198K for experienced workers. Adjusted for local prices (RPP 100.09), that's roughly $101,509 in purchasing power. A 2-bedroom apartment runs $2,347/month, about 36.5% of take-home, which is tight.
Statewide average. Salary and cost of living vary significantly across Massachusetts. Jump to a metro for precise data:
So what does $102K get you in Massachusetts?
About loan officers
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What this looks like in Massachusetts
Massachusetts sits well above the national pay line for loan officers, local pay runs about 32% higher than the U.S. median of $77K. The catch: housing math doesn't keep up. A 2-bedroom at the HUD median rents for $2,347/month, which is 37.7% of the median worker's take-home, past the 30% guideline most planners use. Cost of living (RPP 100.09) is near the national average, so spending patterns here track the typical American budget fairly closely. The pay premium is real, but so are the offsets.
Compensation breakdown
Annual earnings by percentile, Massachusetts
Entry-level loan officers (10th percentile) start around $65K. Mid-career wages sit at $102K. Top earners bring in $198K or more, a $134K spread from bottom to top.
Loan Officers salary by metro in Massachusetts
6 metro areas with BLS data, ranked by median pay
| Metro area | Median salary | vs. state | Employment |
|---|---|---|---|
| Boston-Cambridge-Newton | $103K | +2% | 3,420 |
| Amherst Town-Northampton | $97K | -5% | 90 |
| Barnstable Town | $96K | -5% | 110 |
| Pittsfield | $95K | -7% | 80 |
| Worcester | $94K | -7% | 320 |
| Springfield | $89K | -12% | 150 |
Compare to other states
Track loan officers salary changes
BLS updates this data quarterly. We'll email you when Massachusetts numbers change.
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Frequently asked questions
Can a loan officer afford a 2BR apartment alone in Massachusetts?
It’s a stretch — at the median salary of $102K, rent takes 37.7% of take-home pay. A 2-bedroom at the HUD Fair Market Rent runs $2,347/month. The 30% guideline puts the comfortable ceiling at roughly $1,900/month in rent — so roommates or a 1-bedroom would ease the math significantly.
What’s the entry-level salary for loan officers in Massachusetts?
The 10th-percentile wage — what new loan officers typically earn — is $65K/year. Take-home on that works out to about $3,881/month. At HUD’s $2,347/month FMR, rent would take 60% 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 Massachusetts?
Local pay is 32% above the national median — $102K here vs. $77K nationally.
How does Massachusetts compare to the national average for loan officers?
Massachusetts pays $102K median vs. the U.S. average of $77K — that’s +32%. After adjusting for local cost of living (RPP 100.09), the purchasing-power equivalent is $102K — still ahead of the national median.
How much do loan officers make in Massachusetts?
The median is $101,600 a year, that works out to about $49 an hour. But the range is wide: entry-level workers start around $64,680, and experienced loan officers can clear $198,220. These are BLS numbers, based on employer-reported data, not self-reported surveys.
Is $102K enough to live in Massachusetts?
On that salary, you'd take home roughly $6,232/month after taxes. A 2-bedroom here rents for about $2,347/month, which eats 37.7% of your paycheck. That's above the 30% rule of thumb, housing will be a stretch at the median salary, though you can manage with roommates or a smaller place.
How far does a loan officers salary go in Massachusetts?
Massachusetts has a Regional Price Parity of 100.09 (100 is the national average). Prices are above average here, so your dollar buys less than the same salary would in a cheaper metro. After cost-of-living adjustment, the median loan officers salary is worth about $101,509 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.