How can I calculate my expected income as a loan officer?

Estimate from your pay structure. Many loan officers earn a base salary plus commission per closed loan, with commission commonly running about 1% to 2% of the loan amount, and federal law prohibits commissions that vary with the loan's terms. As a benchmark, the median annual wage for loan officers was $76,690 in May 2025, and most earned between roughly $39,430 and $153,180, according to the Bureau of Labor Statistics.

Interested in getting your MLO license?

Our MLO pre-licensing courses are the fastest and most affordable way to get started.

Find your course

More on licensing

All mortgage licensing guides