Loan Officer salary in Farmington, NM
Loan Officers in the Farmington, NM metro area earn a median of $58,740 a year ($28.24 an hour), based on BLS data for 40 workers.
Pay ranges from $36,640 for the lowest-paid 10% to $100,420 for the top 10%. That is 23% lower than the national median of $76,690. Pay here is 6% lower than the New Mexico statewide median of $62,610. There are 0.75 loan officers per 1,000 jobs here — the job is less common than nationally (location quotient 0.43). The average (mean) salary is $65,530, above the median because a few high earners pull it up.
Pay range for loan officers in Farmington, NM
| Pay level | Yearly | Hourly |
|---|---|---|
| 10th percentile (entry level) | $36,640 | $17.62 |
| 25th percentile | $43,540 | $20.94 |
| Median | $58,740 | $28.24 |
| 75th percentile | $77,400 | $37.21 |
| 90th percentile (top earners) | $100,420 | $48.28 |
| Average (mean) | $65,530 | $31.51 |
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 | $4,895 |
| Semi-monthly (24 a year) | $2,447.50 |
| Biweekly (26 a year) | $2,259.23 |
| Weekly | $1,129.62 |
| Hourly | $28.24 |
Based on a full-time year of 2,080 hours. Convert any amount with the hourly to salary converter.
Buying a home? On a $58,740 salary, see how much house you can afford in New Mexico 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 |
|---|---|---|
| Albuquerque, NM | $62,250 | 630 |
| Las Cruces, NM | $61,110 | 80 |
| Santa Fe, NM | $52,960 | 120 |
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 New Mexico statewide figures.
Related jobs in Farmington, NM
| Job | Median salary | Hourly |
|---|---|---|
| Accountants and Auditors | $76,100 | $36.59 |
| Property Appraisers and Assessors | $48,590 | $23.36 |
| Business Operations Specialists, All Other | $77,780 | $37.39 |
| Human Resources Specialist | $64,170 | $30.85 |
| Project Management Specialist | $96,210 | $46.26 |
| Compliance Officer | $62,690 | $30.14 |
| Buyers and Purchasing Agents | $70,340 | $33.82 |
| Training and Development Specialists | $63,040 | $30.31 |
| Management Analyst | $79,440 | $38.19 |
| Cost Estimator | $62,530 | $30.06 |
| Market Research Analysts and Marketing Specialists | $59,400 | $28.56 |
More: Business and Financial Operations Occupations · all salaries in Farmington, NM
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 Farmington, NM?
The median salary for loan officers in the Farmington, NM metro area is $58,740 a year, or $28.24 an hour. Pay ranges from $36,640 for the lowest-paid 10% to $100,420 for the top 10%.
How much do the highest-paid loan officers make in Farmington, NM?
The top 10% of loan officers in the Farmington, NM metro area earn at least $100,420 a year. The top 25% earn $77,400 or more.
What is the starting pay for loan officers in Farmington, NM?
Entry-level pay (the 10th percentile) is about $36,640 a year, and a quarter of loan officers earn $43,540 or less.
How many loan officers work in Farmington, NM?
About 40 loan officers are employed in the Farmington, NM metro area, not counting the self-employed.