Loan Officer in Broomfield, CO

The Salary Picture: Where Broomfield Stands

If you're looking at loan officer roles in Broomfield, you need to understand the local compensation landscape first. Broomfield sits in an interesting position—it's part of the Denver-Aurora-Lakewood metro area but has its own distinct economic identity.

The median salary for loan officers here is $77,457/year, which breaks down to an hourly rate of $37.24/hour. This actually comes in slightly above the national average of $76,200/year, which is a good sign for professionals considering the move. The metro area has 153 loan officer positions available, which indicates steady demand in the region.

Here's how experience typically translates to earnings in the Broomfield market:

Experience Level	Annual Salary Range	Key Characteristics
Entry-Level (0-2 years)	$58,000 - $65,000	Licensed NMLS, basic portfolio focus, heavy supervision
Mid-Level (3-7 years)	$70,000 - $85,000	Self-sufficient, diverse loan products, established referral network
Senior-Level (8-15 years)	$82,000 - $95,000	Specialized niches, managerial potential, high production volume
Expert (15+ years)	$90,000 - $110,000+	Complex portfolio management, team lead, strategic partnerships

When comparing to other Colorado cities, Broomfield offers a compelling middle ground. Denver proper shows median salaries closer to $80,000 but with significantly higher cost of living. Colorado Springs averages around $73,000 with more military-focused lending opportunities. Fort Collins comes in at approximately $75,500 with strong university and agricultural lending sectors. Boulder might offer higher salaries (around $82,000) but also comes with substantially higher living costs and competition.

The 3% 10-year job growth projection for loan officers in Broomfield reflects a stable, mature market rather than explosive growth. This means steady opportunities but not necessarily rapid advancement—something to factor into your long-term planning.

The Real Take-Home: After Taxes and Rent

Let's get practical about what $77,457/year actually means in Broomfield. After federal taxes (approximately 22% for this bracket), state income tax (4.4% in Colorado), Social Security, and Medicare, your take-home pay drops to roughly $58,500 annually, or about $4,875/month.

The average 1-bedroom apartment in Broomfield rents for $1,835/month. That leaves you with $3,040/month for all other expenses—utilities, transportation, food, healthcare, and savings.

Here's a realistic monthly budget breakdown:

Expense Category	Monthly Cost	Notes
Rent (1BR)	$1,835	Average across Broomfield
Utilities (Electric/Gas/Water)	$150	Varies seasonally
Internet/Cell Phone	$120	Essential for remote work options
Groceries	$400	Broomfield has competitive grocery prices
Transportation	$250	Car insurance + gas (public transit limited)
Healthcare (Insurance + OOP)	$350	Employer plans vary widely
Miscellaneous	$300	Entertainment, personal care, etc.
Remaining for Savings/Debt	$645	13% of take-home pay

Can you afford to buy a home here? The median home price in Broomfield hovers around $565,000. With a 20% down payment ($113,000), your monthly mortgage payment would be approximately $2,800 at current rates (including taxes and insurance). That's $965 more than average rent—a significant jump that would consume most of your discretionary income unless you have substantial savings or a dual-income household.

Insider tip: Many loan officers in Broomfield live in neighboring Westminster or Thornton where housing costs are 10-15% lower, while still being within a 15-minute commute. It's worth exploring if you're single or don't need to be in Broomfield proper.

Where the Jobs Are: Broomfield's Major Employers

Broomfield's employment landscape is dominated by healthcare, energy, and financial services—sectors that create consistent demand for loan officers. Here are the key players:

1. SCL Health (now Intermountain Healthcare)

• Details: Major healthcare system with Broomfield Hospital as a flagship facility. Employs over 3,500 people locally.
• Hiring Trends: Steady demand for physician mortgages, particularly for specialists at the hospital. They've expanded their medical office buildings along US-36, creating commercial lending opportunities.
• Insider Tip: Build relationships with the medical staff office—they're often the first point of contact for new physicians relocating.

2. Ball Aerospace

• Details: Major aerospace employer (subsidiary of Ball Corporation) with 2,200+ employees in Broomfield. Specializes in government contracts and space technology.
• Hiring Trends: High-income professionals seeking jumbo loans. Their security clearance requirements often mean stable, well-documented income—ideal for lenders.
• Insider Tip: Their relocation package includes mortgage assistance benefits. Get on their preferred lender list for incoming employees.

3. UCHealth Broomfield Hospital

• Details: Another major healthcare provider with 1,800+ employees. Located near the Interlocken business park.
• Hiring Trends: Similar to SCL—focus on physician and healthcare professional loans. Their rapid expansion in the Interlocken area has increased commercial real estate lending needs.
• Insider Tip: The hospital's HR department hosts new employee orientations monthly—perfect for networking opportunities.

4. Charles Schwab (Broomfield Campus)

• Details: Large financial services firm with 1,000+ local employees. Their Broomfield campus handles retirement and investment services.
• Hiring Trends: Employees understand financial products and often seek investment property loans. The company culture encourages financial literacy.
• Insider Tip: Consider hosting lunch-and-learns for their employee resource groups—they're often looking for financial education topics.

5. City and County of Broomfield

• Details: Government entity with 500+ employees. Stable, predictable employment base.
• Hiring Trends: Government employees have excellent job security but often need specialized loan products (like VA or FHA). Their pension system creates unique financing challenges.
• Insider Tip: Attend city council meetings to understand upcoming development projects—these often create new commercial lending opportunities.

6. Local Credit Unions (Ent Credit Union, Canvas Credit Union)

• Details: Major regional financial institutions with multiple Broomfield branches.
• Hiring Trends: They frequently hire loan officers directly and also refer clients to independent lenders for products they don't offer.
• Insider Tip: Credit union loan officers often moonlight or refer overflow business—building these relationships can create a referral pipeline.

7. Tech Companies in Interlocken Business Park

• Details: Growing cluster of tech startups and established firms like Oracle (nearby in Westminster).
• Hiring Trends: Younger, high-earning professionals seeking first-time home buyer loans and investment properties.
• Insider Tip: The Interlocken business park has monthly networking events—attendance is worth the time investment.

Getting Licensed in Colorado

Colorado requires NMLS (Nationwide Multistate Licensing System) licensing for all mortgage loan officers. Here's the step-by-step process:

1. Pre-Licensing Education (20 Hours)

• Cost: $300 - $500 (varies by provider)
• Timeline: 1-2 weeks of coursework
• Must include: 3 hours of Colorado-specific law and regulations
• Recommended providers: The CE Shop, pre-license courses

2. NMLS Licensing Exam

• Cost: $80 for the exam + $30 for background check
• Timeline: Schedule within 10 days of course completion
• Pass rate: Approximately 75% in Colorado
• Study materials: $200 - $400 for comprehensive prep

3. State License Application

• Cost: $1,000 initial license fee + $500 annual renewal
• Timeline: 4-6 weeks for processing
• Requires: Sponsorship from a licensed Colorado lender
• Background check: $50 - $100

4. Bonding Requirements

• Cost: $5,000 - $25,000 surety bond (based on volume)
• Most new loan officers start at the $5,000 minimum
• Annual premium: $150 - $500

Total Initial Investment: $1,880 - $2,580
Timeline: 6-8 weeks from start to fully licensed

Colorado-Specific Requirements:

• Must be sponsored by a Colorado-licensed mortgage company
• Colorado Department of Regulatory Agencies (DORA) oversees licensing
• Annual continuing education: 8 hours (including 2 hours of Colorado law)
• License expires annually on December 31st

Insider tip: Many Broomfield lenders will sponsor you if you commit to working for them for at least one year. Some offer reimbursement for licensing costs if you meet production goals.

Best Neighborhoods for Loan Officers

Broomfield has distinct neighborhoods with different vibes and price points. Here's where loan officers typically live:

1. Interlocken Area

• Commute: 5-10 minutes to major employers (Ball Aerospace, UCHealth)
• Lifestyle: Professional, modern apartments and townhomes
• 1BR Rent: $1,900 - $2,100/month
• Why It Works: Walking distance to work for many, great networking opportunities with coworkers
• Insider Tip: The new luxury apartments near FlatIron Crossing have shorter leases—good if you're testing the market

2. Broadlands

• Commute: 15 minutes to downtown Broomfield, 25-30 to Denver
• Lifestyle: Family-oriented, suburban feel with newer construction
• 1BR Rent: $1,750 - $1,900/month
• Why It Works: More affordable than Interlocken, good schools if you have kids
• Insider Tip: The Broadlands Parkway corridor has growing commercial development—keep an eye on new business openings

3. Anthem Highlands

• Commute: 10-15 minutes to most Broomfield employers
• Lifestyle: Master-planned community with parks and trails
• 1BR Rent: $1,850 - $2,000/month
• Why It Works: Active lifestyle amenities, newer infrastructure
• Insider Tip: The community association often hosts professional networking events

4. Broomfield Heights (Old Town)

• Commute: 5-10 minutes to downtown Broomfield business district
• Lifestyle: Historic charm, walkable to local shops and restaurants
• 1BR Rent: $1,650 - $1,850/month (older buildings)
• Why It Works: More character, lower rent, local business connections
• Insider Tip: The farmers market at Broomfield Park creates weekly networking opportunities

5. Candelas (Just West of Broomfield)

• Commute: 15-20 minutes to Broomfield employers
• Lifestyle: Affordable new construction, family-friendly
• 1BR Rent: $1,600 - $1,750/month
• Why It Works: Best rent prices, growing community
• Insider Tip: The area is rapidly developing—get in early before prices rise with new infrastructure

The Long Game: Career Growth

In Broomfield, career growth for loan officers isn't about rapid promotions but strategic specialization. The 3% job growth indicates a stable market where advancement comes through expertise rather than new positions.

Specialty Premiums in Broomfield:

• Physician Loans: +15-20% premium (high demand from healthcare employers)
• Jumbo/High-Balance: +10-15% premium (Ball Aerospace executives, tech professionals)
• VA Loans: +5-10% premium (nearby military bases in Aurora)
• Commercial Real Estate: +20-30% premium (growing business parks)
• Investment Properties: +10-15% premium (strong rental market)

Advancement Paths:

1. Production → Management: Move into branch management (typically $95,000 - $120,000)
2. Generalist → Specialist: Focus on one loan type and become the local expert
3. Retail → Broker: Start your own brokerage (requires additional licensing, $10,000 - $20,000 startup)
4. Residential → Commercial: Transition to commercial lending (higher barriers but better long-term earnings)

10-Year Outlook:
The 3% growth projection is conservative but realistic. Broomfield isn't experiencing the explosive growth seen in Denver metro, which means:

• Less competition than Denver but also fewer new opportunities
• Stable demand from established employers
• Increasing need for specialized knowledge as market matures
• Potential for remote work opportunities with national lenders

Insider tip: The most successful loan officers in Broomfield have 2-3 specialties (e.g., physician loans + investment properties). They also maintain strong relationships with at least 3 real estate agents who consistently close 10+ deals annually.

The Verdict: Is Broomfield Right for You?

Pros	Cons
Above-national average salary ($77,457)	Housing costs are high relative to salary
Stable job market with 153 positions	Limited public transportation
Strong healthcare and aerospace employers	3% growth means modest advancement
Short commutes within the city	Competitive from Denver commuters
Lower cost than Denver/Boulder	Seasonal economic fluctuations
Growing business parks create opportunities	Fewer large financial institutions

Final Recommendation:

Broomfield works best for loan officers who:

• Have 2-7 years of experience and are looking for stability
• Can leverage healthcare or aerospace industry knowledge
• Are comfortable with suburban lifestyle over urban buzz
• Have realistic expectations about home affordability
• Are willing to specialize rather than generalist

It's NOT ideal for:

• Entry-level loan officers seeking rapid career acceleration
• Those needing a vibrant nightlife or urban culture
• Anyone who wants to buy a home immediately without significant savings
• Professionals who prefer working for major national banks (most opportunities are with regional lenders or independent shops)

Bottom Line: Broomfield offers a solid, stable career path for loan officers who treat it as a long-term play. The salary supports a comfortable lifestyle if you're strategic about housing costs and specialization. The city's growth is steady but not explosive—perfect for professionals who value work-life balance over rapid advancement.

FAQs

Q: How long does it typically take to build a client base in Broomfield?
A: Most loan officers need 12-18 months to develop a steady referral network. The key is focusing on 1-2 major employers (like Ball Aerospace or SCL Health) rather than trying to cover the entire metro area. Attend new employee orientations and HR events at these companies.

Q: Is there enough business to support independent loan officers?
A: Yes, but it's competitive. The $77,457 median includes both retail and broker loan officers. Independent brokers can earn more (often $90,000+) but need 3-5 years of established relationships. Consider starting with a retail lender for the first 2 years to build your book.

Q: What's the biggest challenge for loan officers new to Broomfield?
A: Understanding the local employment landscape. Unlike Denver where you have Fortune 500 companies everywhere, Broomfield's economy is dominated by healthcare and aerospace. Take time to learn their specific income structures and relocation packages—that knowledge gives you a competitive edge.

Q: How does Broomfield compare to working in Denver?
A: You'll make about $5,000 - $10,000 less than in Denver, but your commute drops from 45+ minutes to under 15. Denver has more volume but also more competition. Many successful Broomfield loan officers actually service clients across the entire metro area while living locally.

Q: Should I get my commercial lending license too?
A: If you plan to stay long-term, absolutely. Commercial lending opportunities are growing with the business park expansion, and the premium is significant (20-30%). The additional licensing costs about $2,000 more but can increase your income by $20,000+ annually once established.