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Mortgage Loan Officer Salary in Lincolnwood, IL
How much does a Mortgage Loan Officer make in Lincolnwood, IL?
$76,470 (USD)/year
Average Bonus
$2,661 (USD)
per Year
Total Compensation
$78,174.16
Entry Level
$54,845
Median
$75,513
Senior Level
$86,600
As of July, 23, 2026, the average mortgage loan officer gross salary in Lincolnwood, Illinois is $76,470 or an equivalent hourly rate of $37. In addition, mortgage loan officers earn an average bonus of $2,661. An entry level mortgage loan officer with 1-3 years of experience earns an average salary of $54,845. At the higher end of the pay range, a senior level mortgage loan officer with 8+ years of experience earns an average salary of $86,600. Salary estimates are based on salary survey data collected directly from employers in Lincolnwood, Illinois.
Data powered by ERI
Salary Potential for a Mortgage Loan Officer
Explore the estimated salary growth for a Mortgage Loan Officer in Lincolnwood, IL for up to 5 years. The estimated salary of a Mortgage Loan Officer will be $78,443 in 1 year and $86,859 in 5 years.
View Salary by Year
Estimated Salary
$80,467
Average Growth
5.2 %
The estimated salary for a Mortgage Loan Officer in 2 years is $80,467, which is 5.2 % average growth. This information is based on ERI's compensation database.
Typical Mortgage Loan Officer Education
This chart displays the highest level of education for Mortgage Loan Officers.
- 0% of Mortgage Loan Officers have less than a High School Diploma
- 26% of Mortgage Loan Officers have a High School Diploma
- 14% of Mortgage Loan Officers have an Associate's Degree
- 48% of Mortgage Loan Officers have a Bachelor's Degree
- 10% of Mortgage Loan Officers have a Master's Degree
- 1% of Mortgage Loan Officers have a Doctorate Degree
The typical field of study for a Mortgage Loan Officer is Finance.
See how education can impact your salaryPopular Skills for a Mortgage Loan Officer
Interviews applicants
100%
These are the most popular skills for Mortgage Loan Officers. About 100% of Mortgage Loan Officers have a skill in Interviews applicants.
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Mortgage Loan Officer Salaries in Other Locations
Salaries for Similar Job Titles in Lincolnwood, IL
Mortgage Loan Officer Jobs
View moreCost of Living in Lincolnwood, IL
The cost of living in Lincolnwood, IL is 26% higher than the national average.
26% higher
than the national average
Whether you're planning to move or just want to see the cost of living in different locations, our cost-of-living calculator is the place to start. Compare salaries for other locations by city, U.S. ZIP code, state, or country.
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Frequently Asked Questions
What does a Mortgage Loan Officer do?
Interviews applicants, and reviews, evaluates, and authorizes or recommends approval of customer applications for conventional residential mortgage and FHA/VA loans. Interviews applicant and requests specified information for mortgage loan application. Analyzes applicant financial status, credit, and property evaluation to determine feasibility of granting loan, or may submit application to Credit Analyst for verification and recommendation.
How much does a Mortgage Loan Officer make in Lincolnwood, IL?
The average salary for a Mortgage Loan Officer is $76,470 per year or $36.76 per hour in Lincolnwood, IL. Top earners have reported making up to $86,600. However, the typical pay range in Lincolnwood, IL is between $54,845 and $86,600 annually.
What is the salary trajectory for a Mortgage Loan Officer?
Mortgage Loan Officer is projected to see a 13.6 % salary change in 5 years.
How can you increase your salary?
Increasing your salary often starts with understanding your value in today’s job market. You can increase your earning potential by building your skills, advancing your education, moving into a new role or industry, switching companies, or negotiating pay.
How can you negotiate a salary offer?
Negotiating a salary offer involves preparation and finding our your market value. Use our salary calculator to find out how much you should be paid based on what someone in your area, with similar experience, earns. Use this personalized report to help negotiate a higher salary offer or find your dream career.
What are some factors that impact Mortgage Loan Officer salaries?
Several factors can impact your salary, including experience, company size, job market, location, industry, and more. Understanding how these factors affect your role can help you spot pay gaps and provide opportunities for a competitive salary.
About Our Data
This page is an excerpt of the much more complete compensation information available in ERI's Assessor Series.
ERI compiles the most robust and accurate salary, cost-of-living, and executive compensation survey database available. Data are analyzed using AI and traditional statistics, depending on which approach is best for a particular application. ERI collects salary survey data from five different sources, which you can learn about here.
Verified Sources
Data sourced from internal salary surveys, purchased surveys, public sources, HRIS data, and proprietary databases.
Real-Time Data
Our salary database is updated and verified approximately every six weeks.
Quality Assurance
Along with our data scientists, we have included AI in our rigorous process to analyze and provide the highest quality data.
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