Loan Officers Salary
Loan Officers in New Jersey make a median of $92,920 a year, or about $44.67 an hour. The range runs from $50K at the entry level to $169K for experienced workers. Adjusted for local prices (RPP 99.34), that's roughly $93,537 in purchasing power. A 2-bedroom apartment runs $2,067/month, about 35.4% of take-home, which is tight.
Statewide average. Salary and cost of living vary significantly across New Jersey. Jump to a metro for precise data:
So what does $93K get you in New Jersey?
About loan officers
Sponsored links, AffordMap may earn a commission at no cost to you. Learn more
What this looks like in New Jersey
New Jersey sits well above the national pay line for loan officers, local pay runs about 21% 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 $2,067/month, which is 35.5% of the median worker's take-home, past the 30% guideline most planners use. Cost of living (RPP 99.34) 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, New Jersey
Entry-level loan officers (10th percentile) start around $50K. Mid-career wages sit at $93K. Top earners bring in $169K or more, a $119K spread from bottom to top.
Loan Officers salary by metro in New Jersey
3 metro areas with BLS data, ranked by median pay
| Metro area | Median salary | vs. state | Employment |
|---|---|---|---|
| Trenton-Princeton | $90K | -3% | 330 |
| Atlantic City-Hammonton | $84K | -9% | 90 |
| Vineland | $79K | -15% | 50 |
Compare to other states
Track loan officers salary changes
BLS updates this data quarterly. We'll email you when New Jersey numbers change.
Related careers in Business & Finance
Frequently asked questions
Can a loan officer afford a 2BR apartment alone in New Jersey?
It’s a stretch — at the median salary of $93K, rent takes 35.5% of take-home pay. A 2-bedroom at the HUD Fair Market Rent runs $2,067/month. The 30% guideline puts the comfortable ceiling at roughly $1,700/month in rent — so roommates or a 1-bedroom would ease the math significantly.
What’s the entry-level salary for loan officers in New Jersey?
The 10th-percentile wage — what new loan officers typically earn — is $50K/year. Take-home on that works out to about $3,029/month. At HUD’s $2,067/month FMR, rent would take 68% 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 New Jersey?
Local pay is 21% above the national median — $93K here vs. $77K nationally.
How does New Jersey compare to the national average for loan officers?
New Jersey pays $93K median vs. the U.S. average of $77K — that’s +21%. After adjusting for local cost of living (RPP 99.34), the purchasing-power equivalent is $94K — still ahead of the national median.
How much do loan officers make in New Jersey?
The median is $92,920 a year, that works out to about $45 an hour. But the range is wide: entry-level workers start around $50,490, and experienced loan officers can clear $169,280. These are BLS numbers, based on employer-reported data, not self-reported surveys.
Is $93K enough to live in New Jersey?
On that salary, you'd take home roughly $5,830/month after taxes. A 2-bedroom here rents for about $2,067/month, which eats 35.5% 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 New Jersey?
New Jersey has a Regional Price Parity of 99.34 (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 $93,537 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.