Loan Officers Salary
Loan Officers in Virginia make a median of $78,320 a year, or about $37.66 an hour. The range runs from $40K at the entry level to $157K for experienced workers. Cost of living is below average (RPP 94.79), which stretches that salary to about $82,625 in buying power. A 2-bedroom apartment runs $1,646/month, about 32% of take-home, which is tight.
Statewide average. Salary and cost of living vary significantly across Virginia. Jump to a metro for precise data:
So what does $78K get you in Virginia?
About loan officers
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What this looks like in Virginia
Loan officers pay in Virginia tracks closely to the national median, $78K locally vs. $77K nationwide, a 2% difference. Rent runs $1,646/month for a 2-bedroom (HUD FMR), taking 33.2% of the median take-home. That's within the 30% rule, though not by much. Regional Price Parity sits at 94.79 (national = 100), meaning everyday costs run about 5% cheaper here. Your dollar stretches further than the headline salary suggests. Pay and costs are both near average, leaving limited margin for savings at the median wage.
Compensation breakdown
Annual earnings by percentile, Virginia
Entry-level loan officers (10th percentile) start around $40K. Mid-career wages sit at $78K. Top earners bring in $157K or more, a $117K spread from bottom to top.
Loan Officers salary by metro in Virginia
9 metro areas with BLS data, ranked by median pay
| Metro area | Median salary | vs. state | Employment |
|---|---|---|---|
| Blacksburg-Christiansburg-Radford | $86K | +9% | 90 |
| Richmond | $70K | -11% | 1,480 |
| Harrisonburg | $65K | -17% | 100 |
| Roanoke | $65K | -17% | 320 |
| Virginia Beach-Chesapeake-Norfolk | $64K | -18% | 1,260 |
| Staunton-Stuarts Draft | $63K | -19% | 70 |
| Winchester | $63K | -19% | 280 |
| Charlottesville | $61K | -23% | 480 |
| Lynchburg | $59K | -25% | 140 |
Compare to other states
Track loan officers salary changes
BLS updates this data quarterly. We'll email you when Virginia numbers change.
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Frequently asked questions
Can a loan officer afford a 2BR apartment alone in Virginia?
It’s a stretch — at the median salary of $78K, rent takes 33.2% of take-home pay. A 2-bedroom at the HUD Fair Market Rent runs $1,646/month. The 30% guideline puts the comfortable ceiling at roughly $1,500/month in rent — so roommates or a 1-bedroom would ease the math significantly.
What’s the entry-level salary for loan officers in Virginia?
The 10th-percentile wage — what new loan officers typically earn — is $40K/year. Take-home on that works out to about $2,411/month. At HUD’s $1,646/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 Virginia?
Pay here is roughly in line with the national average — $78K locally vs. $77K nationally, a 2% difference.
How does Virginia compare to the national average for loan officers?
Virginia pays $78K median vs. the U.S. average of $77K — that’s +2%. After adjusting for local cost of living (RPP 94.79), the purchasing-power equivalent is $83K — still ahead of the national median.
How much do loan officers make in Virginia?
The median is $78,320 a year, that works out to about $38 an hour. But the range is wide: entry-level workers start around $40,190, and experienced loan officers can clear $157,070. These are BLS numbers, based on employer-reported data, not self-reported surveys.
Is $78K enough to live in Virginia?
On that salary, you'd take home roughly $4,958/month after taxes. A 2-bedroom here rents for about $1,646/month, which eats 33.2% 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 Virginia?
Virginia has a Regional Price Parity of 94.79 (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 $82,625 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.