The Average Salary of a Loan Officer in Texas
The state of Texas classifies all loan officers into one of two broad categories. Loan officers who issue or sell residential mortgages are called mortgage loan officers or mortgage producers and are regulated by the State Department of Savings and Mortgage Lending. Loan officers who work with non-residential mortgage loans -- including commercial, auto and equipment loans -- are classified as general loan officers and have no specific licensing requirement beyond those required of financial institution personnel.
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Texas Loan Officer Salaries
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The 2009 average salary for all loan officers throughout Texas was $67,840 annually. The lowest 25 percent of loan officers in Texas earned $44,350 annually, while the highest 25 percent earned $80,060 annually.
Texas Loan Officer Pay by Municipal Location
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Texas loan officers earned differing income based on their location throughout the state. Ranked based on mean 2009 salary by Texas location: Brownsville-Harlingen ($78,830); Dallas-Plano-Irving ($75,030); Dallas-Fort Worth-Arlington ($72,600); Amarillo ($72,380); Lubbock ($71,370); Austin-Round Rock ($70,960); Laredo ($70,730); College Station-Bryan ($70,720); Waco ($67,970); Sherman-Denison ($66,770); Abilene ($65,490); Houston-Sugar Land-Baytown ($65,070); Corpus Christi ($64,950); Fort Worth-Arlington ($63,810); Wichita Falls ($61,210); San Antonio ($60,690); Tyler ($60,530); Killeen-Temple-Fort Hood ($57,750); San Angelo ($56,810); El Paso ($55,720); McAllen-Edinburg-Mission ($53,910); Longview ($46,430); and Texarkana ($43,390).
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State Ranking for Loan Officers
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Texas loan officers were the 13th-highest paid loan officers in any state in the U.S. The 12 states with higher mean salaries were: Maryland ($67,860); Connecticut ($68,160); Alaska ($69,300); Colorado ($70,440); Georgia ($70,500); Rhode Island ($71,860); New Jersey ($73,060); the District of Columbia ($73,510); California ($73,620); Massachusetts ($75,420); Washington ($75,840); and New York ($77,310).
Texas Loan Officers
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More than half of loan officers in the state of Texas worked in the greater Dallas area. The number of loan officers in other Texas municipal locations was: Houston-Sugar Land-Baytown (3,060); San Antonio (1,610); Fort Worth-Arlington (1,570); Austin-Round Rock (1,160); McAllen-Edinburg-Mission (270); El Paso (260); Amarillo (200); and Brownsville-Harlingen (200).
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References
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Work in a field where the rules change constantly....
