Do Mortgage Loan Officers Make Good Money?If you’re considering a career in mortgages, you may be asking: Do mortgage loan officers make good money?
The short answer is yes. Loan officers (LOs) have one of the highest earning potentials in financial services—especially for those who excel in sales, networking, and technology. Let’s break down the numbers and see what influences income.
How Much Do Loan Officers Earn?
How Much Do Loan Officers Earn?Average Income
- According to the U.S. Bureau of Labor Statistics (BLS), the median annual wage for mortgage loan officers is approximately $65,000 to $75,000.
- Many LOs, however, earn far more thanks to commission-based pay.
Commission Potential
- Most loan officers earn 0.3%–1% of the loan amount per deal.
- On a $300,000 loan, that equals $900–$3,000 in commission.
- The more loans you close, the higher your earnings.
High Earners
- Experienced loan officers commonly make $100,000–$200,000+ annually.
- Top producers in large markets often exceed $300,000 per year.
In short: Yes, mortgage loan officers can make very good money—but results depend on production volume, employer model, and individual drive.
→ Read more: How Much Does a Loan Officer Make Per Loan?
What Affects a Loan Officer’s Income?
What Affects a Loan Officer’s Income?- Employer Structure
- Banks: Lower commissions, but sometimes a base salary.
- Brokers: Higher commissions, usually commission-only.
- Loan Factory: Keep 100% commission (flat $595 fee).
- Market Conditions
- When interest rates fall, refinance booms drive income.
- When rates rise, purchase loans become the focus.
- Location
- High-cost states (CA, NY, WA) = larger average loan sizes, bigger commissions.
- Lead Generation
- LOs who build strong Realtor and referral networks typically earn more.
- Platforms with company-generated leads (like Loan Factory) accelerate growth.
→ Read more: Is Being a Mortgage Loan Officer Hard? What You Should Know
Why Choose Loan Factory as a Loan Officer
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Why Choose Loan Factory as a Loan OfficerLoan Factory is designed to help loan officers maximize earnings and build long-term success.
- 100% commission – keep it all, only $595 per file.
- No desk or junk fees – higher take-home pay.
- Free MOSO platform – CRM, LOS, pricing, marketing, compliance.
- 240+ wholesale lenders – real-time comparisons, 1-click locks
- In-house underwriting + $500 processing – close loans faster.
- Company-generated leads in 42 states – ready-made business pipeline.
- Mentorship from Thuan Nguyen (#1 LO in the U.S.) – learn directly from the best.
- Weekly training + Loan Factory Academy – consistent career development.
- Save ~$963/month – no need to buy outside software tools.
- Best Price Guarantee – attract more borrowers with our $1,000 promise.
→ Read more: Loan Factory: Best Free CRM for Mortgage Loan Officers
At Loan Factory, you don’t just make good money—you maximize it with full commission, free enterprise tech, and mentorship from the #1 LO in America.
So, do mortgage loan officers make good money? Yes—especially for those who leverage the right tools and support. This career offers uncapped income potential, but your employer model matters.
Join webinar Loan Factory Today: https://www.loanfactory.com/loan-officer – Get licensed, trained, and start closing loans faster.
Call 714-591-8143 for more details.
FAQs About Loan Officer Income
