Loan Officers pay range in Waterloo
New workers and the lowest-paid 10% earn about $51,690 a year or less, while the top 10% make $128,300 or more. The middle half of loan officers in Waterloo earn between $52,890 and $93,320.
- $52K10th
- $53K25th
- $73KMedian
- $93K75th
- $128K90th
median average · bar = middle 50% of workers · how to read it
| Pay level | Per year | Per month | Per hour* |
|---|---|---|---|
| Average | $78,240 | $6,520 | $37.62 |
| Median | $72,990 | $6,082 | $35.09 |
| Entry level (25th percentile) | $52,890 | $4,408 | $25.43 |
| Experienced (75th percentile) | $93,320 | $7,777 | $44.87 |
*Hourly figures assume 2,080 paid hours a year. Hourly to annual salary.
Loan Officers pay in Waterloo vs. Iowa and the U.S.
Loan officers in Waterloo earn 16% less than the Iowa average ($93,090) and 11% less than the U.S. average ($87,790). At the median the gap is -5% against the U.S. median of $76,690.
| Area | Average | Median | 10th pct. | 90th pct. | Jobs |
|---|---|---|---|---|---|
| Waterloo | $78,240 | $72,990 | $51,690 | $128,300 | 190 |
| Iowa | $93,090 | $83,670 | $51,690 | $138,150 | 2,840 |
| 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 Waterloo
On the average salary of $78,240, a single filer in Waterloo takes home about $61,511 a year, or $5,126 a month and $2,366 every two weeks. Taxes take 21% of gross pay.
Single filer, standard deduction: federal income tax (2026 brackets), Social Security, Medicare and state income tax (2026 rules). Iowa school district surtaxes (a percentage of state tax in some districts) are not included.
Is Waterloo a good place for loan officers? Pay vs. cost of living
Prices in the Waterloo area are 13% below the U.S. average (BEA price parity 87.1), so the average $78,240 buys what about $89,872 would buy in a typical U.S. metro. This job pays 1.5 times the median wage of all jobs in Waterloo ($47,430). A typical home costs $200,191, or 2.6 years of this average salary before tax.
Loan Officers salary in other Iowa cities
Waterloo ranks 8th of 8 Iowa metro areas for this job; Des Moines pays the most ($101,800).
- Des Moines$101,800
- Iowa City$98,600
- Ames$96,090
- Sioux City$91,340
- Cedar Rapids$90,770
- Dubuque$83,810
- Davenport$82,160
- Waterloo$78,240
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 Waterloo: questions
How much do loan officers make an hour in Waterloo?
$37.62 an hour on average, and $35.09 at the median (BLS, May 2025).
What is the entry-level loan officers salary in Waterloo?
The lowest-paid 10% earn about $51,690 a year and the 25th percentile is $52,890, a fair guide to starting pay.
What is the loan officers take-home pay in Waterloo?
About $61,511 a year ($5,126 a month) for a single filer on the average salary of $78,240. Iowa school district surtaxes (a percentage of state tax in some districts) are not included.
Do loan officers earn more in Waterloo than elsewhere?
The average here is 11% 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 Waterloo-Cedar Falls, IA (47940). Relative standard error of the mean wage: 3.2%.
- 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 (2026 rules). Iowa school district surtaxes (a percentage of state tax in some districts) are not included.
- Job concentration: location quotient 1.26, this job is 1.3 times as concentrated as in the U.S. overall.
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