Loan Officers pay range in Elkhart
New workers and the lowest-paid 10% earn about $48,030 a year or less, while the top 10% make $136,390 or more. The middle half of loan officers in Elkhart earn between $60,670 and $103,920.
- $48K10th
- $61K25th
- $74KMedian
- $104K75th
- $136K90th
median average · bar = middle 50% of workers · how to read it
| Pay level | Per year | Per month | Per hour* |
|---|---|---|---|
| Average | $81,210 | $6,768 | $39.04 |
| Median | $74,060 | $6,172 | $35.61 |
| Entry level (25th percentile) | $60,670 | $5,056 | $29.17 |
| Experienced (75th percentile) | $103,920 | $8,660 | $49.96 |
*Hourly figures assume 2,080 paid hours a year. Hourly to annual salary.
Loan Officers pay in Elkhart vs. Indiana and the U.S.
Loan officers in Elkhart earn about the same as the Indiana average ($78,980) and 7% less than the U.S. average ($87,790). At the median the gap is -3% against the U.S. median of $76,690.
| Area | Average | Median | 10th pct. | 90th pct. | Jobs |
|---|---|---|---|---|---|
| Elkhart | $81,210 | $74,060 | $48,030 | $136,390 | 110 |
| Indiana | $78,980 | $72,960 | $43,870 | $129,740 | 4,790 |
| United States | $87,790 | $76,690 | $39,430 | $153,180 | 274,330 |
State and U.S. rows: BLS statewide and national estimates, May 2025, which include rural areas.
Loan Officers salary after taxes in Elkhart
On the average salary of $81,210, a single filer in Elkhart takes home about $61,951 a year, or $5,163 a month and $2,383 every two weeks. Taxes take 24% of gross pay.
Single filer, standard deduction: federal income tax (2026 brackets), Social Security, Medicare and state income tax (2025 rules). Includes Elkhart's local income tax (2%).
Is Elkhart a good place for loan officers? Pay vs. cost of living
Prices in the Elkhart area are 10% below the U.S. average (BEA price parity 90.3), so the average $81,210 buys what about $89,909 would buy in a typical U.S. metro. This job pays 1.5 times the median wage of all jobs in Elkhart ($48,070). A typical home costs $265,734, or 3.3 years of this average salary before tax.
Loan Officers salary in other Indiana cities
Elkhart ranks 2nd of 12 Indiana metro areas for this job; Lafayette pays the most ($86,640).
- Lafayette$86,640
- Elkhart$81,210
- Indianapolis$80,020
- Evansville$78,110
- Bloomington$76,420
- Muncie$74,930
- Terre Haute$74,350
- Fort Wayne$72,560
- Kokomo$72,490
- Michigan City$71,410
Highest-paying cities for loan officers
Elmira, NY pays this job the most of the metro areas we cover ($129,370).
- Elmira, NY$129,370
- New York, NY$121,180
- Boston, MA$120,300
- San Francisco, CA$116,480
- Norwich, CT$116,460
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Loan Officers salary in Elkhart: questions
How much do loan officers make an hour in Elkhart?
$39.04 an hour on average, and $35.61 at the median (BLS, May 2025).
What is the entry-level loan officers salary in Elkhart?
The lowest-paid 10% earn about $48,030 a year and the 25th percentile is $60,670, a fair guide to starting pay.
What is the loan officers take-home pay in Elkhart?
About $61,951 a year ($5,163 a month) for a single filer on the average salary of $81,210. Includes Elkhart's local income tax (2%).
Do loan officers earn more in Elkhart than elsewhere?
The average here is 7% less than the U.S. average for this job ($87,790).
Sources and how to read this page
- Wages: U.S. Bureau of Labor Statistics, Occupational Employment and Wage Statistics (OEWS), May 2025 estimates for metropolitan areas. SOC code 13-2072; area Elkhart-Goshen, IN (21140). Relative standard error of the mean wage: 2.2%.
- U.S. and statewide figures: BLS OEWS national and state estimates, May 2025, every employer including rural areas.
- Cost of living: Bureau of Economic Analysis regional price parities (RPP), 2024; 100 = U.S. average.
- Home value: Zillow Home Value Index. Typical-wage figure: OEWS all occupations, same metro.
- Take-home pay: Single filer, standard deduction: federal income tax (2026 brackets), Social Security, Medicare and state income tax (2025 rules). Includes Elkhart's local income tax (2%).
- Job concentration: location quotient 0.50, this job is less common than in the U.S. overall (location quotient 0.50).
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