Loan Officer salary in Maryland
Loan Officers in Maryland earn a median of $73,580 a year ($35.37 an hour), based on BLS data for 3,850 workers.
Pay ranges from $37,470 for the lowest-paid 10% to $159,860 for the top 10%. That is 4% lower than the national median of $76,690. Maryland ranks 29th of 51 states for loan officers pay. There are 1.4 loan officers per 1,000 jobs here — the job is less common than nationally (location quotient 0.79). The average (mean) salary is $84,190, above the median because a few high earners pull it up.
Pay range for loan officers in Maryland
| Pay level | Yearly | Hourly |
|---|---|---|
| 10th percentile (entry level) | $37,470 | $18.02 |
| 25th percentile | $49,990 | $24.03 |
| Median | $73,580 | $35.37 |
| 75th percentile | $99,220 | $47.70 |
| 90th percentile (top earners) | $159,860 | $76.86 |
| Average (mean) | $84,190 | $40.47 |
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 | $6,131.67 |
| Semi-monthly (24 a year) | $3,065.83 |
| Biweekly (26 a year) | $2,830 |
| Weekly | $1,415 |
| Hourly | $35.37 |
Based on a full-time year of 2,080 hours. Convert any amount with the hourly to salary converter.
Buying a home? On a $73,580 salary, see how much house you can afford in Maryland at today's mortgage rates, or work out a payment with the mortgage calculator.
Loan Officer salary in cities in Maryland
| Metro area | Median salary | Workers |
|---|---|---|
| Washington-Arlington-Alexandria, DC-VA-MD-WV | $97,800 | 5,000 |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD | $77,590 | 4,660 |
| Baltimore-Columbia-Towson, MD | $68,470 | 1,810 |
| Lexington Park, MD | $64,390 | 70 |
| Hagerstown-Martinsburg, MD-WV | $62,060 | 120 |
| Salisbury, MD | $60,700 | 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 |
Related jobs in Maryland
| Job | Median salary | Hourly |
|---|---|---|
| Accountants and Auditors | $89,370 | $42.97 |
| Financial and Investment Analysts | $100,370 | $48.26 |
| Personal Financial Advisor | $99,880 | $48.02 |
| Financial Specialists, All Other | $101,400 | $48.75 |
| Budget Analyst | $106,020 | $50.97 |
| Insurance Underwriter | $92,120 | $44.29 |
| Tax Preparer | $47,020 | $22.61 |
| Financial Risk Specialist | $117,130 | $56.31 |
| Credit Analyst | $75,390 | $36.25 |
| Property Appraisers and Assessors | $77,610 | $37.31 |
| Tax Examiners and Collectors, and Revenue Agents | $66,900 | $32.16 |
| Credit Counselor | $60,450 | $29.06 |
| Financial Examiner | $102,980 | $49.51 |
| Business Operations Specialists, All Other | $101,500 | $48.80 |
More: Business and Financial Operations Occupations · all salaries in Maryland
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 Maryland?
The median salary for loan officers in Maryland is $73,580 a year, or $35.37 an hour. Pay ranges from $37,470 for the lowest-paid 10% to $159,860 for the top 10%.
How much do the highest-paid loan officers make in Maryland?
The top 10% of loan officers in Maryland earn at least $159,860 a year. The top 25% earn $99,220 or more.
What is the starting pay for loan officers in Maryland?
Entry-level pay (the 10th percentile) is about $37,470 a year, and a quarter of loan officers earn $49,990 or less.
How many loan officers work in Maryland?
About 3,850 loan officers are employed in Maryland, not counting the self-employed.