Loan Officer in Carrollton, TX

As a career analyst who’s spent years tracking the financial services landscape across the Dallas-Fort Worth Metroplex, I get asked about Carrollton a lot. It’s not the flashiest suburb—it doesn't have the corporate skyline of Las Colinas or the historic charm of Grapevine—but for a loan officer, it’s a hidden gem. It’s a stable, affluent, and strategically located hub where the cost of living doesn’t completely eat your paycheck, and the job market offers real, sustainable opportunities.

This guide is built on hard data and local knowledge. We’ll look at what you can actually earn, where you can afford to live, and which employers are actually hiring. Let’s break down the reality of being a loan officer in Carrollton, TX.

The Salary Picture: Where Carrollton Stands

First, let’s talk numbers. The financial services sector in the DFW area is robust, and Carrollton, positioned along the I-35E and George Bush Turnpike corridors, taps directly into that flow. According to the U.S. Bureau of Labor Statistics (BLS) data for Loan Officers in the Dallas-Fort Worth-Arlington metro area and localized cost-of-living adjustments, here’s how the compensation stacks up.

The median salary for a Loan Officer in Carrollton is $76,954/year. This translates to an **hourly rate of $77,954/year is $37.0/hour. This figure sits slightly above the national average of $76,200/year, a crucial point that makes Carrollton competitive. However, it's important to understand that this median is a blend of base salary and commission. In a commission-heavy role, your earnings are a direct reflection of your hustle and the market's appetite for loans.

Here’s a more granular look at how experience levels typically influence earnings in this specific market:

Experience Level	Typical Title	Salary Range (Annual)	Key Responsibilities
Entry-Level	Junior Loan Officer, Processor	$55,000 - $65,000	Assisting senior officers, processing paperwork, initial client contact, learning underwriting guidelines.
Mid-Level	Licensed Loan Officer, Account Manager	$70,000 - $85,000	Managing own pipeline, originating loans, client relationship management, compliance adherence.
Senior-Level	Senior Loan Officer, Branch Manager	$90,000 - $120,000+	Complex loan structuring, high-net-worth clients, managing a team, business development.
Expert	Mortgage Consultant, Regional Director	$130,000+	Niche expertise (e.g., jumbo, commercial), strategic partnerships, high-volume production.

Comparison to Other Texas Cities:
Carrollton offers a compelling balance. While it doesn't command the top-tier salaries you might find in downtown Austin ($85k+) or the Galleria area of Houston ($82k+), it significantly outpaces many other Texas metros. For instance, the median in San Antonio is closer to $71,000, and in El Paso it's around $68,000. The key is Carrollton's proximity to the high-wealth northern suburbs (Plano, Frisco) where clients with larger, more complex mortgages often reside. You get access to that high-value market without paying the premium price of living in those specific zip codes.

Insider Tip: The 3% 10-year job growth for the metro area (with 264 jobs currently in the Carrollton-area market) indicates stability, not explosive growth. This is a mature market. Success here is less about being the first to a new industry and more about building a reputation for reliability and service within a steady, existing client base.

The Real Take-Home: After Taxes and Rent

Let’s move from gross salary to net reality. This is where many career analyses fall short. We need to account for taxes and the single largest expense in your budget: housing.

For an individual earning the median salary of $76,954/year in Texas:

• Federal & FICA Taxes (Est.): ~22% = $16,930/year
• State Income Tax: $0 (Texas has no state income tax)
• Net Annual Take-Home: ~$60,024/year
• Net Monthly Take-Home: ~$5,002/month

Now, let’s layer in the cost of living. The Cost of Living Index for Carrollton is 103.3 (US avg = 100), meaning it's 3.3% more expensive than the national average, but still very reasonable for DFW. The average 1BR rent is $1,291/month.

Here’s a monthly budget breakdown for our Loan Officer:

Expense Category	Monthly Cost	% of Net Income	Notes
Rent (1BR Apt)	$1,291	25.8%	Well below the recommended 30% threshold.
Utilities (Elec, Internet)	$180	3.6%	Average for the area.
Groceries	$400	8.0%	Single person.
Transportation (Car Payment, Gas, Ins.)	$650	13.0%	Assumes a modest car payment; no state vehicle property tax.
Health Insurance	$350	7.0%	Through employer or marketplace.
Retirement/Debt Savings	$600	12.0%	401k match, student loans, etc.
Discretionary Spending	$1,531	30.6%	Dining, entertainment, shopping, etc.
TOTAL	$5,002	100%

Can they afford to buy a home?
With a net monthly income of $5,002, a conservative mortgage payment (including taxes and insurance) should not exceed $1,500 (30% of gross, but we'll use net here for caution). In Carrollton, a median-priced home (~$400,000) would have a mortgage payment of approximately $2,200-$2,400/month, which is too high for this income level. However, a starter home or condo in the $275,000-$325,000 range (found in neighborhoods like Trinity Mills or the older parts of Old Town) could yield a payment of $1,600-$1,800. This is tight but possible with a larger down payment (20%) and no other major debt. The verdict: A Loan Officer at the median salary can comfortably afford to rent a nice 1BR and save aggressively, but buying a single-family home will likely require dual income, a promotion, or several years of building a strong commission base.

Where the Jobs Are: Carrollton's Major Employers

Carrollton's job market is a mix of corporate regional offices, credit unions, and local banks. The 3% growth isn't in new startups; it's in the steady expansion of these established players.

1. Bank of America (Regional Office): Located near the North Carrollton/Farmers Branch border, this is a major hub for mortgage originators servicing the entire North Texas region. They have a consistent need for licensed LOs familiar with VA, FHA, and conventional products.
2. Texas Health Presbyterian Hospital Carrollton: While a healthcare provider, their internal finance department and Texas Health Resources Credit Union (a partner) are significant employers for loan officers, especially those specializing in physician loans and healthcare professional mortgages—a high-demand niche.
3. Neighborhood Credit Union: Headquartered in Dallas but with a major presence in Carrollton (e.g., the Josey Lane branch), this is a key player. They are known for a strong community focus and often hire LOs to work directly with their member base. Hiring trends favor candidates with prior credit union experience.
4. Independent Mortgage Brokers: Firms like Mortgage Solutions of Texas and Lone Star Financing have offices or strong referral networks in Carrollton. These offer more flexibility and a higher commission split but less stability. This is where you build a book of business from the ground up.
5. First United Bank & Trust: With branches throughout the DFW area, including Carrollton, they offer a more traditional banking environment with a focus on relationship lending. They value local market knowledge and long-term client retention.
6. Carrollton-Farmers Branch ISD: The school district itself is a massive employer, and while not a lender, its financial services department and the community it serves (teachers, administrators) represent a built-in client base for any LO building a local network.
7. Dallas Federal Credit Union: Another major player in the credit union space with a strong Carrollton footprint. They are aggressively expanding their mortgage division and are a prime target for job seekers.

Hiring Trends: The trend in Carrollton is moving away from pure outside sales to a hybrid model. Employers want LOs who can work the phones, manage digital leads, and also build partnerships with local realtors, builders, and financial advisors. Networking at the Carrollton Chamber of Commerce events is not optional; it's essential.

Getting Licensed in TX

Texas has strict licensing requirements enforced by the Texas Department of Savings and Mortgage Lending (TDSML) and the Nationwide Multistate Licensing System (NMLS).

Requirements & Costs:

1. Pre-Licensing Education: Complete 20 hours of NMLS-approved courses. Cost: $300 - $500.
2. National & State Exams: Pass the NMLS National Test and the Texas State Test. Exam fees: $110.
3. Background Check & Credit Report: NMLS fees: ~$50.
4. License Application Fee: Texas-specific fee: $200.
5. Surety Bond: Required for mortgage brokers; for LOs employed by a licensed lender, this is typically covered by the employer, but you must be listed on their bond.
6. Net Worth/Financial Responsibility: For your own license, but as a sponsored LO, this is your employer's responsibility.

Total Estimated Startup Cost: $700 - $900 (pre-licensing, exams, fees).
Timeline: If you dedicate full-time effort, you can be licensed and job-ready in 4-6 weeks. Part-time candidates should plan for 2-3 months.

Insider Tip: The NMLS exam is notoriously tough. Don't just memorize the material—understand the why behind TRID rules, RESPA, and TILA. Carrollton employers, especially credit unions, will grill you on compliance in interviews. Consider a review course from a provider like Kaplan or OnCourse Learning.

Best Neighborhoods for Loan Officers

Where you live impacts your commute, your network, and your sanity. Carrollton is geographically diverse.

Neighborhood	Vibe & Commute	Avg. 1BR Rent	Why It's Good for LOs
Downtown Carrollton (Old Town)	Walkable, historic, charming. 15-20 min to major offices.	$1,450	Perfect for networking; you're in the heart of local business. Great for face-to-face client meetings.
Trinity Mills	Family-oriented, suburban. 10-15 min to I-35E.	$1,250	More affordable, safe, and close to the major retail and restaurant corridors where clients live.
North Carrollton / Hebron	Modern apartments, corporate feel. 10 min to DFW Airport.	$1,350	Ideal if you're targeting the corporate sector or working for a lender near the airport. Very convenient.
Valley Ranch	Master-planned, upscale, with parks and trails. 15-20 min to Las Colinas.	$1,500	You're living among high-net-worth clients. This is where you build your referral base for jumbo loans.
Josey Ranch	Quiet, established, single-family home focus. 15 min to most offices.	$1,200	Great for LOs with families. The community feel aligns well with credit union and community bank values.

Insider Tip: If you're new to the area, rent in Trinity Mills or North Carrollton first. The commute is manageable to all major employers, and the cost is lower, allowing you to build savings and a client base. Once you establish yourself, consider moving to Valley Ranch to be closer to your target demographic.

The Long Game: Career Growth

The 3% job growth tells you this isn't a "get rich quick" industry here, but it is a "build a solid career" one.

• Specialty Premiums: The real money is in niches. In Carrollton, the demand is for:
  • Physician Loans: With Texas Health Presbyterian and a short drive to UT Southwestern, this is a goldmine.
  • Jumbo Loans: Serving the affluent residents of Valley Ranch, Hebron, and nearby Frisco.
  • FHA/VA Loans: Carrollton has a diverse population, including veterans and first-time buyers. Mastering these government products ensures a steady stream of business.
• Advancement Paths: The typical trajectory is:
  1. Junior LO (1-2 years) -> Licensed LO (3-5 years) -> Senior LO (5+ years).
  2. Branch Manager: Requires leadership skills and a proven production history. Many Carrollton LOs advance to manage branches in Denton or McKinney.
  3. Broker/Owner: After 7-10 years, successful LOs often launch their own shop, leveraging their local network.
• 10-Year Outlook: The market will likely remain stable. Technology (AI for underwriting, digital applications) will change how you work, not eliminate the need for you. Your value will be in high-touch client service, complex deal structuring, and local market expertise—things algorithms can't replicate. The $76,954 median today could realistically grow to $90,000 - $110,000 in 10 years for a mid-career LO who builds a strong referral network and specializes.

The Verdict: Is Carrollton Right for You?

Carrollton is a pragmatic choice for a Loan Officer, especially one who values balance over extremes.

Pros	Cons
Affordable Cost of Living: You can live well on the median salary.	Limited "Lifestyle" Scene: It's not a nightlife hub; it's a suburb.
Strategic Location: Easy access to high-wealth clients in Frisco/Plano, DFW Airport, and Dallas.	Market Saturation: Competition is fierce; you must differentiate yourself.
Stable, Growing Job Market: Lower risk than volatile markets.	Slower Career Velocity: Growth is incremental, not explosive.
Strong Community Network: Credit unions and local banks foster relationships.	Dependent on DFW Economy: A downturn in the Metroplex hurts Carrollton.
No State Income Tax: More of your $76,954 stays in your pocket.	Commute to Dallas: If you want to work in downtown Dallas, it's a 30-45 min drive.

Final Recommendation:
Carrollton is highly recommended for a Loan Officer who is self-motivated, values work-life balance, and is willing to build a business through local networking rather than cold-calling. It's perfect for someone in their mid-20s to early 40s who wants to establish a solid financial foundation. It is not recommended for someone seeking a high-energy, big-city corporate finance career or who is unwilling to embed themselves in the local community for referrals.

FAQs

1. How does commission work for Loan Officers in Carrollton?
Most roles are base salary + commission. The base might be $40,000 - $55,000, with commission making up the difference to reach the median of $76,954. Commission is typically a percentage of the loan amount (e.g., 0.25% - 0.5%). In a good year, a senior LO can double their base salary through commission.

2. Is flooding a concern for mortgages in Carrollton?
Yes, parts of Carrollton are in the 100-year floodplain, especially near the Trinity River and creeks. As a Loan Officer, you must be knowledgeable about flood insurance requirements (FEMA maps) and how they impact a buyer's monthly payment. This is a key area of local expertise.

3. What's the best way to find real estate agents to partner with?
Join the Carrollton-Farmers Branch Association of Realtors. Attend their meetings, sponsor a coffee hour, and offer to provide educational sessions on loan products for their members. The Carrollton Chamber of Commerce is also invaluable for meeting financial advisors and builders.

4. Do I need a car?
Absolutely. Carrollton is a car-dependent suburb. Public transit (DART) exists but is limited. You'll need a reliable vehicle to meet clients, visit neighborhoods, and network.

5. How competitive is the market for new LOs?
It's competitive but not cutthroat. There's a high turnover rate for those who can't handle the commission-based lifestyle or fail to build a network. If you are persistent, personable, and willing to learn the local market intimately, you can carve out a sustainable niche. The 264 jobs in the metro are a sign of consistent, not overwhelming, demand.

Sources: U.S. Bureau