Loan Officer salary in Waterloo-Cedar Falls, IA
Loan Officers in the Waterloo-Cedar Falls, IA metro area earn a median of $72,990 a year ($35.09 an hour), based on BLS data for 190 workers.
Pay ranges from $51,690 for the lowest-paid 10% to $128,300 for the top 10%. That is 5% lower than the national median of $76,690. Pay here is 13% lower than the Iowa statewide median of $83,670. There are 2.2 loan officers per 1,000 jobs here — the job is 1.3× more common than nationally. The average (mean) salary is $78,240, above the median because a few high earners pull it up.
Pay range for loan officers in Waterloo-Cedar Falls, IA
| Pay level | Yearly | Hourly |
|---|---|---|
| 10th percentile (entry level) | $51,690 | $24.85 |
| 25th percentile | $52,890 | $25.43 |
| Median | $72,990 | $35.09 |
| 75th percentile | $93,320 | $44.87 |
| 90th percentile (top earners) | $128,300 | $61.68 |
| Average (mean) | $78,240 | $37.62 |
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 | $6,082.50 |
| Semi-monthly (24 a year) | $3,041.25 |
| Biweekly (26 a year) | $2,807.31 |
| Weekly | $1,403.65 |
| Hourly | $35.09 |
Based on a full-time year of 2,080 hours. Convert any amount with the hourly to salary converter.
Buying a home? On a $72,990 salary, see how much house you can afford in Iowa 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 |
|---|---|---|
| Des Moines-West Des Moines, IA | $101,190 | 650 |
| Iowa City, IA | $98,630 | 120 |
| Cedar Rapids, IA | $85,990 | 190 |
| Ames, IA | $84,470 | 70 |
| Sioux City, IA-NE-SD | $81,780 | 140 |
| Omaha, NE-IA | $80,300 | 910 |
| Dubuque, IA | $76,170 | 110 |
| Davenport-Moline-Rock Island, IA-IL | $75,380 | 350 |
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 Iowa statewide figures.
Related jobs in Waterloo-Cedar Falls, IA
| Job | Median salary | Hourly |
|---|---|---|
| Accountants and Auditors | $73,530 | $35.35 |
| Personal Financial Advisor | $90,520 | $43.52 |
| Financial Specialists, All Other | $77,840 | $37.42 |
| Financial and Investment Analysts | $80,100 | $38.51 |
| Financial Examiner | $69,360 | $33.35 |
| Property Appraisers and Assessors | $75,670 | $36.38 |
| Market Research Analysts and Marketing Specialists | $64,000 | $30.77 |
| Human Resources Specialist | $61,900 | $29.76 |
| Training and Development Specialists | $51,320 | $24.68 |
| Business Operations Specialists, All Other | $69,960 | $33.64 |
| Buyers and Purchasing Agents | $73,330 | $35.25 |
| Project Management Specialist | $81,600 | $39.23 |
| Compliance Officer | $73,200 | $35.19 |
| Claims Adjusters, Examiners, and Investigators | $59,340 | $28.53 |
More: Business and Financial Operations Occupations · all salaries in Waterloo-Cedar Falls, IA
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 Waterloo-Cedar Falls, IA?
The median salary for loan officers in the Waterloo-Cedar Falls, IA metro area is $72,990 a year, or $35.09 an hour. Pay ranges from $51,690 for the lowest-paid 10% to $128,300 for the top 10%.
How much do the highest-paid loan officers make in Waterloo-Cedar Falls, IA?
The top 10% of loan officers in the Waterloo-Cedar Falls, IA metro area earn at least $128,300 a year. The top 25% earn $93,320 or more.
What is the starting pay for loan officers in Waterloo-Cedar Falls, IA?
Entry-level pay (the 10th percentile) is about $51,690 a year, and a quarter of loan officers earn $52,890 or less.
How many loan officers work in Waterloo-Cedar Falls, IA?
About 190 loan officers are employed in the Waterloo-Cedar Falls, IA metro area, not counting the self-employed.