Loan Officers Salary
Loan Officers in Utah make a median of $59,440 a year, or about $28.58 an hour. The range runs from $38K at the entry level to $128K for experienced workers. Adjusted for local prices (RPP 98.54), that's roughly $60,321 in purchasing power. A 2-bedroom apartment runs $1,350/month, about 34.6% of take-home, which is tight.
Statewide average. Salary and cost of living vary significantly across Utah. Jump to a metro for precise data:
So what does $59K get you in Utah?
About loan officers
Sponsored links, AffordMap may earn a commission at no cost to you. Learn more
What this looks like in Utah
Pay for loan officers in Utah runs about 22% below the U.S. median of $77K. Rent runs $1,350/month for a 2-bedroom (HUD FMR), taking 34.4% of the median take-home. That's within the 30% rule, though not by much. Cost of living (RPP 98.54) is near the national average, so spending patterns here track the typical American budget fairly closely. Use the affordability calculator above to model your specific situation.
Compensation breakdown
Annual earnings by percentile, Utah
Entry-level loan officers (10th percentile) start around $38K. Mid-career wages sit at $59K. Top earners bring in $128K or more, a $90K spread from bottom to top.
Loan Officers salary by metro in Utah
5 metro areas with BLS data, ranked by median pay
| Metro area | Median salary | vs. state | Employment |
|---|---|---|---|
| Salt Lake City-Murray | $61K | +3% | N/A |
| Logan | $59K | +0% | 90 |
| Provo-Orem-Lehi | $57K | -5% | 700 |
| St. George | $52K | -13% | 130 |
| Ogden | $50K | -15% | 480 |
Compare to other states
Track loan officers salary changes
BLS updates this data quarterly. We'll email you when Utah numbers change.
Related careers in Business & Finance
Frequently asked questions
Can a loan officer afford a 2BR apartment alone in Utah?
It’s a stretch — at the median salary of $59K, rent takes 34.4% of take-home pay. A 2-bedroom at the HUD Fair Market Rent runs $1,350/month. The 30% guideline puts the comfortable ceiling at roughly $1,200/month in rent — so roommates or a 1-bedroom would ease the math significantly.
What’s the entry-level salary for loan officers in Utah?
The 10th-percentile wage — what new loan officers typically earn — is $38K/year. Take-home on that works out to about $2,267/month. At HUD’s $1,350/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 Utah?
Local pay runs 22% below the national median — $59K here vs. $77K nationally.
How does Utah compare to the national average for loan officers?
Utah pays $59K median vs. the U.S. average of $77K — that’s -22%. After adjusting for local cost of living (RPP 98.54), the purchasing-power equivalent is $60K — below the national median.
How much do loan officers make in Utah?
The median is $59,440 a year, that works out to about $29 an hour. But the range is wide: entry-level workers start around $37,790, and experienced loan officers can clear $128,200. These are BLS numbers, based on employer-reported data, not self-reported surveys.
Is $59K enough to live in Utah?
On that salary, you'd take home roughly $3,920/month after taxes. A 2-bedroom here rents for about $1,350/month, which eats 34.4% 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 Utah?
Utah has a Regional Price Parity of 98.54 (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 $60,321 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.