Loan Officer salary in South Bend-Mishawaka, IN-MI
Loan Officers in the South Bend-Mishawaka, IN-MI metro area earn a median of $63,130 a year ($30.35 an hour), based on BLS data for 160 workers.
Pay ranges from $47,300 for the lowest-paid 10% to $99,740 for the top 10%. That is 18% lower than the national median of $76,690. Pay here is 13% lower than the Indiana statewide median of $72,960. There are 1.2 loan officers per 1,000 jobs here — the job is less common than nationally (location quotient 0.67). The average (mean) salary is $70,260, above the median because a few high earners pull it up.
Pay range for loan officers in South Bend-Mishawaka, IN-MI
| Pay level | Yearly | Hourly |
|---|---|---|
| 10th percentile (entry level) | $47,300 | $22.74 |
| 25th percentile | $52,420 | $25.20 |
| Median | $63,130 | $30.35 |
| 75th percentile | $80,590 | $38.75 |
| 90th percentile (top earners) | $99,740 | $47.95 |
| Average (mean) | $70,260 | $33.78 |
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 | $5,260.83 |
| Semi-monthly (24 a year) | $2,630.42 |
| Biweekly (26 a year) | $2,428.08 |
| Weekly | $1,214.04 |
| Hourly | $30.35 |
Based on a full-time year of 2,080 hours. Convert any amount with the hourly to salary converter.
Buying a home? On a $63,130 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 |
| Ann Arbor, MI | $77,820 | 320 |
| Detroit-Warren-Dearborn, MI | $76,260 | 7,200 |
| 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 |
| Elkhart-Goshen, IN | $74,060 | 110 |
| Lansing-East Lansing, MI | $72,890 | 420 |
| Kalamazoo-Portage, MI | $72,330 | 140 |
| Grand Rapids-Wyoming-Kentwood, MI | $71,760 | 790 |
| Midland, MI | $66,880 | 60 |
| Flint, MI | $65,050 | 230 |
| Louisville/Jefferson County, KY-IN | $64,460 | 1,120 |
| Niles, MI | $64,250 | 130 |
| Traverse City, MI | $63,820 | 130 |
| Evansville, IN | $63,560 | 240 |
| Muncie, IN | $63,460 | 150 |
| Fort Wayne, IN | $63,320 | 410 |
| Saginaw, MI | $62,740 | 140 |
| Bloomington, IN | $62,720 | 90 |
| Muskegon-Norton Shores, MI | $62,190 | 60 |
| Kokomo, IN | $60,780 | 60 |
| Jackson, MI | $60,540 | 110 |
| Michigan City-La Porte, IN | $59,700 | 60 |
| Battle Creek, MI | $59,640 | 70 |
| Columbus, IN | $59,040 | 50 |
| Monroe, MI | $56,450 | 30 |
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 South Bend-Mishawaka, IN-MI
| Job | Median salary | Hourly |
|---|---|---|
| Accountants and Auditors | $77,940 | $37.47 |
| Personal Financial Advisor | $74,510 | $35.82 |
| Financial and Investment Analysts | $77,690 | $37.35 |
| Property Appraisers and Assessors | $59,170 | $28.45 |
| Credit Analyst | $70,080 | $33.69 |
| Credit Counselor | $46,050 | $22.14 |
| Human Resources Specialist | $63,700 | $30.63 |
| Market Research Analysts and Marketing Specialists | $64,000 | $30.77 |
| Project Management Specialist | $84,820 | $40.78 |
| Buyers and Purchasing Agents | $64,840 | $31.18 |
| Training and Development Specialists | $51,330 | $24.68 |
| Management Analyst | $93,620 | $45.01 |
| Business Operations Specialists, All Other | $62,920 | $30.25 |
| Cost Estimator | $71,550 | $34.40 |
More: Business and Financial Operations Occupations · all salaries in South Bend-Mishawaka, IN-MI
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 South Bend-Mishawaka, IN-MI?
The median salary for loan officers in the South Bend-Mishawaka, IN-MI metro area is $63,130 a year, or $30.35 an hour. Pay ranges from $47,300 for the lowest-paid 10% to $99,740 for the top 10%.
How much do the highest-paid loan officers make in South Bend-Mishawaka, IN-MI?
The top 10% of loan officers in the South Bend-Mishawaka, IN-MI metro area earn at least $99,740 a year. The top 25% earn $80,590 or more.
What is the starting pay for loan officers in South Bend-Mishawaka, IN-MI?
Entry-level pay (the 10th percentile) is about $47,300 a year, and a quarter of loan officers earn $52,420 or less.
How many loan officers work in South Bend-Mishawaka, IN-MI?
About 160 loan officers are employed in the South Bend-Mishawaka, IN-MI metro area, not counting the self-employed.