Loan Officers pay range in Farmington
New workers and the lowest-paid 10% earn about $36,640 a year or less, while the top 10% make $100,420 or more. The middle half of loan officers in Farmington earn between $43,540 and $77,400.
- $37K10th
- $44K25th
- $59KMedian
- $77K75th
- $100K90th
median average · bar = middle 50% of workers · how to read it
| Pay level | Per year | Per month | Per hour* |
|---|---|---|---|
| Average | $65,530 | $5,461 | $31.50 |
| Median | $58,740 | $4,895 | $28.24 |
| Entry level (25th percentile) | $43,540 | $3,628 | $20.93 |
| Experienced (75th percentile) | $77,400 | $6,450 | $37.21 |
*Hourly figures assume 2,080 paid hours a year. Hourly to annual salary.
Loan Officers pay in Farmington vs. New Mexico and the U.S.
Loan officers in Farmington earn 13% less than the New Mexico average ($75,410) and 25% less than the U.S. average ($87,790). At the median the gap is -23% against the U.S. median of $76,690.
| Area | Average | Median | 10th pct. | 90th pct. | Jobs |
|---|---|---|---|---|---|
| Farmington | $65,530 | $58,740 | $36,640 | $100,420 | 40 |
| New Mexico | $75,410 | $62,610 | $27,700 | $122,960 | 1,140 |
| 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 Farmington
On the average salary of $65,530, a single filer in Farmington takes home about $52,919 a year, or $4,410 a month and $2,035 every two weeks. Taxes take 19% of gross pay.
Single filer, standard deduction: federal income tax (2026 brackets), Social Security, Medicare and state income tax (2026 rules).
Is Farmington a good place for loan officers? Pay vs. cost of living
Prices in the Farmington area are 12% below the U.S. average (BEA price parity 87.7), so the average $65,530 buys what about $74,715 would buy in a typical U.S. metro. This job pays 1.3 times the median wage of all jobs in Farmington ($45,820). A typical home costs $274,565, or 4.2 years of this average salary before tax.
Loan Officers salary in other New Mexico cities
Farmington ranks 4th of 4 New Mexico metro areas for this job; Albuquerque pays the most ($73,830).
- Albuquerque$73,830
- Las Cruces$70,500
- Santa Fe$69,140
- Farmington$65,530
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 Farmington: questions
How much do loan officers make an hour in Farmington?
$31.51 an hour on average, and $28.24 at the median (BLS, May 2025).
What is the entry-level loan officers salary in Farmington?
The lowest-paid 10% earn about $36,640 a year and the 25th percentile is $43,540, a fair guide to starting pay.
What is the loan officers take-home pay in Farmington?
About $52,919 a year ($4,410 a month) for a single filer on the average salary of $65,530.
Do loan officers earn more in Farmington than elsewhere?
The average here is 25% 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 Farmington, NM (22140). Relative standard error of the mean wage: 8.0%.
- 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).
- Job concentration: location quotient 0.43, this job is less common than in the U.S. overall (location quotient 0.43).
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