Loan Officer in Bellevue, NE

The Salary Picture: Where Bellevue Stands

As a local who’s watched Bellevue’s economy evolve from a quiet suburb to a more diverse employment hub, let’s get straight to the numbers. The financial services sector here is stable, anchored by the presence of Offutt Air Force Base and a growing population of first-time homebuyers. For a Loan Officer, this translates to steady, if not spectacular, earning potential.

The median salary for a Loan Officer in Bellevue is $74,485/year, which breaks down to an hourly rate of $35.81/hour. This places you slightly below the national average of $76,200/year. However, when you factor in Bellevue’s notably lower cost of living, that gap shrinks considerably.

Here’s how that salary typically breaks down by experience level in our local market. This data is compiled from local job postings, BLS regional figures, and conversations with area financial managers.

Experience Level	Annual Salary Range (Bellevue)	Key Responsibilities in This Market
Entry-Level (0-2 years)	$55,000 - $65,000	Processing applications, customer service, learning underwriting guidelines, focusing on FHA/VA loans common with military families.
Mid-Level (2-5 years)	$65,000 - $85,000	Managing a personal pipeline, originating conventional loans, working with realtors, portfolio refinement.
Senior (5-10 years)	$85,000 - $110,000	Complex loan structuring (jumbo, investment properties), mentoring junior officers, deep referral networks.
Expert (10+ years)	$110,000+	Specializing in commercial or agricultural lending, managing a team, high-net-worth client services.

Compared to other Nebraska cities: Bellevue sits in a sweet spot. It’s more affordable than Omaha (where salaries are higher but cost of living is significantly steeper) and Lincoln. For example, a Loan Officer in Omaha might see a median salary closer to $78,000, but their rent and housing costs are often 20-30% higher. In Bellevue, the $74,485 median provides a stronger purchasing power if you budget wisely.

Insider Tip: In Bellevue, your base salary is often supplemented by a commission structure. A common split here is a $45,000-$55,000 base salary for entry-to-mid-level roles, with commission bringing the total to the median. Always clarify the base/commission ratio during interviews.

The Real Take-Home: After Taxes and Rent

Let’s ground the $74,485 salary in reality. A single filer in Nebraska (2023 tax brackets) would see roughly 22-25% deducted for federal, state (5.84%), and FICA taxes combined. This leaves a net monthly income of approximately $4,300-$4,400.

Now, factor in the local cost of living. The average 1BR rent in Bellevue is $878/month, and the Cost of Living Index is 92.5 (US avg = 100). This means your money goes further here than in most US cities.

Here’s a realistic monthly budget for a single Loan Officer earning the median salary:

Category	Estimated Monthly Cost	Notes
Net Income (after taxes)	$4,350	Based on a $74,485 gross salary.
Rent (1BR)	$878	$878/month average for a decent 1BR in a safe area.
Utilities (Electric, Gas, Internet)	$180	Higher in winter due to heating; lower in summer.
Groceries	$350	Comparable to national averages.
Car Payment/Insurance	$400	Bellevue is car-dependent; public transit is limited.
Health Insurance	$150	Employer-subsidized plans are common.
Miscellaneous (Entertainment, Food Out)	$300	Plenty of local eateries in Old Town.
Savings/Debt Repayment	$2,092	This is the key benefit of Bellevue's affordability.
Total Expenses	$2,258
Remaining Surplus	$2,092

Can they afford to buy a home? Absolutely. With a surplus of over $2,000/month, a Loan Officer can comfortably save for a down payment. The median home price in Bellevue is approximately $250,000. A 10% down payment is $25,000, which could be saved in about a year with disciplined budgeting. Furthermore, as a Loan Officer, you’re a prime candidate for in-house loan programs and may qualify for better rates, making homeownership very accessible.

Where the Jobs Are: Bellevue's Major Employers

The job market for Loan Officers in Bellevue (128 jobs in the metro area) is niche but stable. You won’t find the volume of openings seen in Omaha, but the quality of employers is high. The 10-year job growth is 3%, indicating slow but steady demand.

Here are the primary employers you should target:

1. First National Bank of Omaha (FNBO): With a branch in Bellevue, this is a major local player. They offer a full suite of consumer and commercial loans. Hiring is often for experienced officers who can tap into the local business community.
2. US Bank (Bellevue Branches): Another large national bank with a solid local presence. Their Bellevue locations often seek Loan Officers specializing in mortgage and consumer lending, particularly for the military population at Offutt.
3. Community Banks (e.g., Bellevue Bank & Trust): These local institutions are goldmines for relationship-based lending. They value officers who know the community, from the owners of Old Town shops to families in the Fontenelle Forest area. Hiring is less frequent but often for long-term careers.
4. Mortgage Brokerages (Local & Omaha-based): Several brokerages serve Bellevue, offering more flexibility and higher commission potential. Companies like Nebraska Realty Mortgage or Premier Home Mortgage (with Bellevue clients) are worth approaching directly. This is a common path for entrepreneurial Loan Officers.
5. Omaha-based Credit Unions (e.g., SAC Federal Credit Union): While headquartered nearby, these institutions have a strong client base in Bellevue. They focus on member-focused lending and often hire Loan Officers to handle their Bellevue membership.
6. Real Estate Firms with In-House Lending: Large brokerages like CBSHOME Real Estate (with a Bellevue office) sometimes have affiliated loan officers. This is a fantastic way to get direct referral pipelines from top-producing agents.

Hiring Trends: The demand is strongest for officers with VA loan expertise due to the Offutt population. Officers who can also handle FHA and USDA loans (common in the surrounding Sarpy County areas) have an edge. Digital proficiency is now standard; experience with platforms like Encompass or Calyx is expected.

Getting Licensed in NE

Nebraska has clear, structured requirements for becoming a licensed Loan Officer (Mortgage Loan Originator - MLO). The process is managed by the Nebraska Department of Banking and Finance.

State-Specific Requirements:

1. Pre-Licensing Education (PE): 20 hours of NMLS-approved coursework. This includes 3 hours of Nebraska state-specific law.
2. NMLS Nationwide Exam: You must pass the SAFE MLO exam.
3. Credit Check & Background Check: Required for your NMLS application.
4. State License Application: Submit through the NMLS system to the Nebraska Dept. of Banking.

Costs (Approximate):

• Pre-Licensing Education: $350 - $500 (varies by provider).
• NMLS Exam Fee: $80 (paid to NMLS).
• State License Application Fee: $450 (Nebraska-specific).
• Credit/Background Check: $100 - $150.
• Total Estimated Startup Cost: $980 - $1,180.

Timeline to Get Started:

• 1-2 days: Choose an NMLS-approved education provider and complete the 20-hour course (can be done online).
• Schedule your exam: Once you have your course completion certificate, you can schedule the SAFE exam. Wait times can be 1-3 weeks.
• Pass the exam: The pass rate is challenging; study diligently.
• Apply for your license: After passing, submit your application through the NMLS. Nebraska processing can take 2-4 weeks.
• Total Time: 6-10 weeks from start to holding your license.

Insider Tip: Many local banks and brokerages will sponsor your license if you’re hired. This covers the costs and provides on-the-job training. It’s often the best path for a career switcher.

Best Neighborhoods for Loan Officers

Bellevue is geographically compact, but neighborhoods vary in vibe and commute. Here are the top choices for a Loan Officer’s lifestyle and budget.

1. Old Town Bellevue: The historic heart of the city. You’re close to local banks, coffee shops (like The Coffee Works), and networking spots. Commute to major employers is minimal. It’s walkable, with a strong community feel.

   • Rent Estimate: $900 - $1,100/month for a 1BR apartment or small house.
   • Best For: Networking, young professionals, those who value character over newness.

2. South Bellevue / Fontenelle Hills: Quiet, residential, and family-oriented. Close to the beautiful Fontenelle Forest for outdoor breaks. Commute is easy via 25th Street or Hwy 75.

   • Rent Estimate: $850 - $950/month for a 1BR.
   • Best For: Work-life balance, quiet living, young families.

3. East Bellevue (near Offutt AFB): This area is heavily influenced by the military community. It’s practical, with many rental options and services catering to service members. A prime location if you want to specialize in VA loans.

   • Rent Estimate: $800 - $900/month for a 1BR.
   • Best For: VA loan specialists, those seeking a supportive, stable community.

4. The Crossings: A newer, master-planned development on Bellevue’s west side. Offers modern amenities, parks, and easy access to Omaha via 370. A longer commute to Old Town Bellevue (10-15 mins) but a short drive to Omaha.

   • Rent Estimate: $950 - $1,200/month for a modern 1BR in a new complex.
   • Best For: Modern amenities, quick Omaha access, younger professionals.

Insider Tip: When looking for a rental, check the flood plain maps. Parts of Bellevue, especially near the Missouri River, are in designated flood zones, which can affect insurance costs and mortgage eligibility for your clients.

The Long Game: Career Growth

In Bellevue, career growth is more about specialization and reputation than rapid corporate ladder climbing. The 10-year job growth of 3% means you must be proactive.

Specialty Premiums:

• VA Loans: Given Offutt AFB, VA loan specialists are in high demand. This can add a 10-15% premium to your earning potential through volume.
• USDA Loans: For the surrounding rural areas of Sarpy and Cass counties (eligible for 100% financing), this is a valuable niche.
• Commercial Lending: This is the highest-earning path. It requires more experience and often a commercial banking focus. Local banks like First National are the primary employers here.

Advancement Paths:

1. From Broker to Banker: Start at a brokerage for broad experience, then move to a bank (like FNBO) for stability and benefits.
2. From Personal Banker to Loan Officer: Many local bank employees transition internally after getting licensed.
3. Sales Manager: After 5-7 years of strong production, you can move into managing a team of loan officers, often with a base salary plus override commission.

10-Year Outlook: The Bellevue market will likely see continued steady growth, tied to the Omaha metro area’s expansion. The key will be adapting to digital trends. Officers who master online lead generation, virtual closings, and data analysis will outperform those relying solely on traditional referral networks. Specializing in a niche (VA, first-time buyers, small commercial) will be essential for long-term income growth.

The Verdict: Is Bellevue Right for You?

Pros	Cons
High purchasing power with the $74,485 median salary due to low cost of living (92.5 index).	Limited networking opportunities compared to Omaha. You’ll need to commute for many industry events.
Stable, niche job market with 128 jobs and clear employers like FNBO and community banks.	Slower career growth (3% 10-year growth) means you must be self-motivated to advance.
Strong VA loan market due to Offutt AFB, providing a reliable client base.	Car-dependent city. Minimal public transit; you will need a reliable vehicle.
Accessible homeownership with median home prices around $250,000.	Smaller, less diverse economy than Omaha. Fewer large corporate lenders.
Tight-knit community where reputation and relationships drive business.	Weather: Harsh winters can affect mobility and real estate activity.

Final Recommendation:
Bellevue is an excellent choice for a Loan Officer who values work-life balance, affordability, and a stable, relationship-based career. It’s ideal for those who want to specialize (especially in VA loans) and build a strong local reputation without the pressure and high costs of a major metro. If you’re a self-starter who can leverage Offutt AFB and the local community, the $74,485 median salary goes a very long way. However, if your primary goal is rapid advancement to six figures within 3-5 years, the larger markets of Omaha or Lincoln may offer more aggressive growth paths.

FAQs

Q: Is the cost of living really as low as the index suggests?
A: Yes, but with caveats. The 92.5 index is accurate for basics like rent ($878/month average) and groceries. However, car-related costs (insurance, fuel) can be higher than the national average due to the lack of public transit. Overall, your $74,485 salary will feel more like $85,000 in a high-cost city.

Q: Do I need to live in Bellevue to get a job there?
A: Not necessarily. Omaha is only a 15-20 minute commute, and many Loan Officers live in West Omaha but work in Bellevue. However, living locally builds better community ties, which is crucial for referral-based business in this market.

Q: How competitive is the job market with only 128 jobs?
A: It’s selective, not hyper-competitive. The 128 jobs are a stable number, but turnover is low. Breaking in requires networking with local realtors, visiting bank branches in person, and tailoring your resume to local specialties (VA, FHA, USDA). Having a license already is a significant advantage.

Q: What’s the biggest mistake new Loan Officers make in Bellevue?
A: Ignoring the military community. Offutt AFB is the economic engine of Bellevue. Officers who don’t specialize in VA loans or build relationships with military-focused realtors often struggle. Make the transition to the base and the surrounding neighborhoods a priority.

Q: Can I work remotely as a Loan Officer here?
A: Yes, especially with brokerages. However, in-person meetings are still highly valued in Bellevue’s relationship-driven market. A hybrid model is most effective: remote for processing and paperwork, but in-person for initial consultations and closings. Local banks will likely require in-office work.