Loan Officer salary in Elkhart-Goshen, IN
Loan Officers in the Elkhart-Goshen, IN metro area earn a median of $74,060 a year ($35.61 an hour), based on BLS data for 110 workers.
Pay ranges from $48,030 for the lowest-paid 10% to $136,390 for the top 10%. That is 3% lower than the national median of $76,690. Pay here is 2% higher than the Indiana statewide median of $72,960. There are 0.89 loan officers per 1,000 jobs here — the job is less common than nationally (location quotient 0.50). The average (mean) salary is $81,210, above the median because a few high earners pull it up.
Pay range for loan officers in Elkhart-Goshen, IN
| Pay level | Yearly | Hourly |
|---|---|---|
| 10th percentile (entry level) | $48,030 | $23.09 |
| 25th percentile | $60,670 | $29.17 |
| Median | $74,060 | $35.61 |
| 75th percentile | $103,920 | $49.96 |
| 90th percentile (top earners) | $136,390 | $65.57 |
| Average (mean) | $81,210 | $39.04 |
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 | $6,171.67 |
| Semi-monthly (24 a year) | $3,085.83 |
| Biweekly (26 a year) | $2,848.46 |
| Weekly | $1,424.23 |
| Hourly | $35.61 |
Based on a full-time year of 2,080 hours. Convert any amount with the hourly to salary converter.
Buying a home? On a $74,060 salary, see how much house you can afford in Indiana 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 |
|---|---|---|
| Chicago-Naperville-Elgin, IL-IN | $80,040 | 7,380 |
| Lafayette-West Lafayette, IN | $75,980 | 110 |
| Cincinnati, OH-KY-IN | $75,300 | 2,060 |
| Terre Haute, IN | $74,890 | 70 |
| Indianapolis-Carmel-Greenwood, IN | $74,790 | 1,690 |
| Louisville/Jefferson County, KY-IN | $64,460 | 1,120 |
| Evansville, IN | $63,560 | 240 |
| Muncie, IN | $63,460 | 150 |
| Fort Wayne, IN | $63,320 | 410 |
| South Bend-Mishawaka, IN-MI | $63,130 | 160 |
| Bloomington, IN | $62,720 | 90 |
| Kokomo, IN | $60,780 | 60 |
| Michigan City-La Porte, IN | $59,700 | 60 |
| Columbus, IN | $59,040 | 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 Indiana statewide figures.
Related jobs in Elkhart-Goshen, IN
| Job | Median salary | Hourly |
|---|---|---|
| Accountants and Auditors | $77,420 | $37.22 |
| Personal Financial Advisor | $75,270 | $36.19 |
| Financial and Investment Analysts | $80,930 | $38.91 |
| Property Appraisers and Assessors | $48,600 | $23.36 |
| Credit Analyst | $62,660 | $30.12 |
| Buyers and Purchasing Agents | $75,110 | $36.11 |
| Human Resources Specialist | $64,860 | $31.18 |
| Market Research Analysts and Marketing Specialists | $65,240 | $31.37 |
| Project Management Specialist | $86,640 | $41.65 |
| Training and Development Specialists | $59,050 | $28.39 |
| Cost Estimator | $70,690 | $33.98 |
| Management Analyst | $86,600 | $41.64 |
| Logistician | $74,130 | $35.64 |
| Business Operations Specialists, All Other | $73,370 | $35.28 |
More: Business and Financial Operations Occupations · all salaries in Elkhart-Goshen, IN
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 Elkhart-Goshen, IN?
The median salary for loan officers in the Elkhart-Goshen, IN metro area is $74,060 a year, or $35.61 an hour. Pay ranges from $48,030 for the lowest-paid 10% to $136,390 for the top 10%.
How much do the highest-paid loan officers make in Elkhart-Goshen, IN?
The top 10% of loan officers in the Elkhart-Goshen, IN metro area earn at least $136,390 a year. The top 25% earn $103,920 or more.
What is the starting pay for loan officers in Elkhart-Goshen, IN?
Entry-level pay (the 10th percentile) is about $48,030 a year, and a quarter of loan officers earn $60,670 or less.
How many loan officers work in Elkhart-Goshen, IN?
About 110 loan officers are employed in the Elkhart-Goshen, IN metro area, not counting the self-employed.