Loan Officer salary in Cleveland, OH
Loan Officers in the Cleveland, OH metro area earn a median of $77,730 a year ($37.37 an hour), based on BLS data for 1,920 workers.
Pay ranges from $36,130 for the lowest-paid 10% to $141,990 for the top 10%. That is 1% higher than the national median of $76,690. Pay here is 2% higher than the Ohio statewide median of $76,370. There are 1.9 loan officers per 1,000 jobs here — close to the national average. The average (mean) salary is $84,600, above the median because a few high earners pull it up.
Pay range for loan officers in Cleveland, OH
| Pay level | Yearly | Hourly |
|---|---|---|
| 10th percentile (entry level) | $36,130 | $17.37 |
| 25th percentile | $51,980 | $24.99 |
| Median | $77,730 | $37.37 |
| 75th percentile | $103,380 | $49.70 |
| 90th percentile (top earners) | $141,990 | $68.26 |
| Average (mean) | $84,600 | $40.67 |
Half of loan officers earn more than the median and half earn less. Percentiles show the spread: 10% earn less than the 10th percentile, and 10% earn more than the 90th.
Median paycheck, before taxes
| Pay period | Amount |
|---|---|
| Monthly | $6,477.50 |
| Semi-monthly (24 a year) | $3,238.75 |
| Biweekly (26 a year) | $2,989.62 |
| Weekly | $1,494.81 |
| Hourly | $37.37 |
Based on a full-time year of 2,080 hours. Convert any amount with the hourly to salary converter.
Buying a home? On a $77,730 salary, see how much house you can afford in Ohio at today's mortgage rates, or work out a payment with the mortgage calculator.
Loan Officer salary in other metro areas nearby
| Metro area | Median salary | Workers |
|---|---|---|
| Columbus, OH | $82,160 | 2,410 |
| Cincinnati, OH-KY-IN | $75,300 | 2,060 |
| Sandusky, OH | $74,960 | 60 |
| Toledo, OH | $74,400 | 320 |
| Akron, OH | $72,080 | 270 |
| Dayton-Kettering-Beavercreek, OH | $66,070 | 440 |
| Springfield, OH | $62,860 | 30 |
| Lima, OH | $62,430 | 70 |
| Mansfield, OH | $60,750 | 50 |
| Youngstown-Warren, OH | $60,530 | 100 |
| Wheeling, WV-OH | $59,060 | 110 |
| Canton-Massillon, OH | $57,720 | 240 |
| Huntington-Ashland, WV-KY-OH | $57,000 | 210 |
| Weirton-Steubenville, WV-OH | $52,380 | 50 |
Highest-paying states for loan officers
| State | Median salary |
|---|---|
| Massachusetts | $101,600 |
| Connecticut | $95,730 |
| New York | $95,710 |
| Minnesota | $95,170 |
| Colorado | $94,520 |
| Oregon | $94,440 |
| New Jersey | $92,920 |
| District of Columbia | $92,890 |
| Vermont | $88,710 |
| Kansas | $86,970 |
See Loan Officer pay in every state or the Ohio statewide figures.
Related jobs in Cleveland, OH
| Job | Median salary | Hourly |
|---|---|---|
| Accountants and Auditors | $80,000 | $38.46 |
| Personal Financial Advisor | $81,130 | $39.01 |
| Financial and Investment Analysts | $98,320 | $47.27 |
| Financial Examiner | $46,960 | $22.58 |
| Financial Specialists, All Other | $84,910 | $40.82 |
| Insurance Underwriter | $78,610 | $37.80 |
| Financial Risk Specialist | $93,730 | $45.06 |
| Credit Analyst | $79,720 | $38.33 |
| Property Appraisers and Assessors | $65,380 | $31.43 |
| Budget Analyst | $90,940 | $43.72 |
| Credit Counselor | $58,570 | $28.16 |
| Tax Examiners and Collectors, and Revenue Agents | $92,520 | $44.48 |
| Project Management Specialist | $95,000 | $45.67 |
| Human Resources Specialist | $70,900 | $34.09 |
More: Business and Financial Operations Occupations · all salaries in Cleveland, OH
Source: U.S. Bureau of Labor Statistics, Occupational Employment and Wage Statistics, May 2025 estimates, occupation code 13-2072. Wages include base pay, tips, commissions and shift pay, but not overtime, bonuses or benefits, and exclude the self-employed.
Frequently asked questions
How much does a loan officer make in Cleveland, OH?
The median salary for loan officers in the Cleveland, OH metro area is $77,730 a year, or $37.37 an hour. Pay ranges from $36,130 for the lowest-paid 10% to $141,990 for the top 10%.
How much do the highest-paid loan officers make in Cleveland, OH?
The top 10% of loan officers in the Cleveland, OH metro area earn at least $141,990 a year. The top 25% earn $103,380 or more.
What is the starting pay for loan officers in Cleveland, OH?
Entry-level pay (the 10th percentile) is about $36,130 a year, and a quarter of loan officers earn $51,980 or less.
How many loan officers work in Cleveland, OH?
About 1,920 loan officers are employed in the Cleveland, OH metro area, not counting the self-employed.