Loan Officer in Overland Park, KS

The Salary Picture: Where Overland Park Stands

As a local who's watched the Kansas City metro job market for years, I can tell you that Overland Park offers a solid, stable platform for a career as a Loan Officer. It's a city built on family-friendly suburbs, corporate HQ presence, and a cost of living that makes your paycheck stretch further than on the coasts. The median salary for a Loan Officer here is $74,668/year, which breaks down to an hourly rate of $35.9/hour. It's important to note that this figure sits just slightly below the national average of $76,200/year. This isn't a significant gap; in fact, it's a classic Midwest trade-off: you might earn a few thousand less on paper, but your living expenses are dramatically lower. The Overland Park metro area supports approximately 394 Loan Officer jobs, with a projected 10-year job growth of 3%. This isn't explosive growth, but it indicates a steady, reliable demand for skilled professionals in the financial sector.

Your earning potential in Overland Park is heavily influenced by experience, specialization, and the type of institution you work for (bank, credit union, or mortgage brokerage). Here’s a realistic breakdown of what you can expect to earn at different career stages in the local market:

Experience Level	Typical Years in Field	Estimated Annual Salary Range (Overland Park)
Entry-Level	0-2 years	$55,000 - $65,000
Mid-Career	3-7 years	$70,000 - $85,000
Senior	8-15 years	$85,000 - $110,000
Expert/Managerial	15+ years	$110,000+

Source: Salary data aggregated from BLS and local job postings (2023-2024).

When compared to other Kansas cities, Overland Park sits in a sweet spot. Topeka, the state capital, might offer similar or slightly higher salaries for government-related financial roles, but the job market is smaller. Wichita, a larger industrial hub, has a cost of living that's comparable, but the financial sector is less concentrated in its suburbs than in the Kansas City metro. The real advantage Overland Park has is its proximity to Kansas City, Missouri. Many loan officers here work for institutions based in KC but live in Overland Park for the superior school districts and lower property taxes. This dual-state dynamic expands your job pool significantly.

The Real Take-Home: After Taxes and Rent

Let's get brutally practical. Your $74,668 median salary doesn't hit your bank account intact. A single filer in Kansas will face a state income tax of roughly 5.7% on that income, plus federal taxes and FICA. After an estimated 22-25% total tax burden, your monthly take-home pay is likely in the $4,400 - $4,600 range.

Now, factor in the housing cost. The average rent for a one-bedroom apartment in Overland Park is $839/month. This is significantly lower than the national average and a key reason the city's Cost of Living Index is 93.3 (where the US average is 100). Let's build a sample monthly budget for a Loan Officer earning the median salary:

Monthly Budget Breakdown (Take-Home ~$4,500)

• Rent (1BR in a good area): $850
• Utilities (Electric, Gas, Internet, Water): $200
• Groceries & Household: $400
• Transportation (Car Payment, Gas, Insurance): $450
• Health Insurance (Employer-sponsored): $250
• Retirement Savings (401k, 5%): $310
• Student Loan/Debt Payment: $300
• Entertainment/Dining Out: $300
• Miscellaneous/Personal Care: $200
• Total Expenses: $3,260

This leaves a healthy surplus of $1,240. The question is, can you afford to buy a home? With a median salary, you could likely qualify for a mortgage. The Overland Park median home price hovers around $350,000 - $400,000. A 20% down payment ($70k-$80k) is a high bar, but many programs (FHA, VA) allow for much lower down payments. With your calculated surplus, saving for a down payment is feasible with disciplined budgeting over 3-5 years. Lenders will look favorably on your stable income in the financial sector. Insider tip: Many local credit unions offer excellent first-time homebuyer products with competitive rates for employees in the financial industry.

Where the Jobs Are: Overland Park's Major Employers

Overland Park isn't a single-industry town, but its financial sector is robust, anchored by a mix of national banks, regional institutions, and major employers with internal finance departments. The job market here is less about frantic turnover and more about stable, long-term placements.

1. Commerce Bank: A cornerstone of the regional banking scene, Commerce has a massive presence in Overland Park, with its headquarters just across the state line in Kansas City, MO. They are a primary hirer for personal and business loan officers. Hiring trends are steady, focusing on relationship-building skills over pure sales quotas.

2. UMB Bank: Another major regional player, UMB has a significant office in the Overland Park area. They specialize in commercial and private banking, offering opportunities for loan officers to move into higher-paying, specialized roles in commercial real estate or private wealth lending.

3. Community Banks & Credit Unions: This is where you find true local flavor. Institutions like First National Bank of Kansas or CommunityAmerica Credit Union are deeply invested in the local economy. They often have a more collaborative culture and are excellent for mid-career loan officers looking for stability. Credit unions, in particular, have been actively hiring to serve the growing suburban population.

4. Large Corporate Employers with Internal Finance Teams: Overland Park is home to or near the HQs of giants like Sprint (now part of T-Mobile), Black & Veatch, and Fiat Chrysler (Stellantis). These companies have vast internal finance departments that require commercial loan officers and treasury specialists. This is a less obvious but lucrative path, often with better work-life balance and corporate benefits.

5. Mortgage Brokerages (Independent Shops): The suburban sprawl of Overland Park fuels a constant demand for home loans. Local brokerages like Mortgage Solutions of Kansas City or The Home Loan Expert are always looking for licensed loan officers with a proven track record. This is a high-commission, high-autonomy environment, ideal for entrepreneurial types. Hiring is directly tied to the housing market, so it can be cyclical, but the 3% growth projection suggests a stable floor.

The hiring trend is consistent. The 394 jobs in the metro aren't being filled overnight; it's a market that values experience and local connections. Networking with real estate agents in the area is non-negotiable for success, especially in brokerage roles.

Getting Licensed in KS

Kansas has a clear, regulated path to becoming a licensed Loan Officer, managed by the Kansas Office of the State Bank Commissioner (OSBC). The process is straightforward but requires an upfront investment of time and money.

1. Pre-Licensing Education (PLE): You must complete 20 hours of approved pre-licensing education. This covers federal and state law, ethics, and mortgage lending principles. Reputable national providers like Kaplan or The CE Shop offer Kansas-specific courses. Cost: $250 - $400.
2. NMLS Nationwide Mortgage Licensing System: You must create an account with the NMLS, the federal registry for mortgage professionals. This is your central hub for licensing. Filing Fee: $30.
3. Pass the National Exam: The SAFE Mortgage Loan Originator Test is the same nationwide. It's a tough, proctored exam with a 75% passing score. Most candidates need to study intensively for 4-6 weeks. Exam Fee: $80.
4. Pass the Kansas State Exam: After passing the national test, you must take and pass the Kansas-specific state exam, which focuses on state regulations. Exam Fee: $60.
5. Background Check & Credit Report: The NMLS will conduct a background check and review your credit history. Significant financial issues can be disqualifying. Cost: ~$50.
6. Apply for Your Kansas License: Submit your application through the NMLS, which is then reviewed by the Kansas OSBC. Your employing broker/sponsor must be approved in Kansas and will hold your license. State License Fee: $100.

Total Estimated Cost: $570 - $720 for the education, exams, and fees.
Timeline: A motivated candidate can complete this in 2-3 months. If you're starting from zero, budget for 4 months to account for study time and exam scheduling.

Insider tip: Your experience in a related field (bank teller, customer service, real estate assistant) is highly valued by Kansas employers and can help you land a job while you're completing your licensing, as long as you're working under a licensed LO's supervision.

Best Neighborhoods for Loan Officers

Where you live in Overland Park directly impacts your commute, lifestyle, and networking opportunities. The city is a collection of distinct sub-communities.

1. Downtown Overland Park (66212): The historic core. Walkable, with a great sense of place, farmers' markets, and local restaurants. It's close to major employers like Commerce Bank's offices. Commute is minimal if you work downtown KC or in the core of OP. Rent for 1BR: $900 - $1,200.
2. South Overland Park (66213): This is the quintessential "family-friendly" suburb with top-rated Blue Valley School District. It's home to many corporate professionals and has a high concentration of real estate agents. Networking here is golden if you're targeting the luxury market. Commutes are longer (20-30 mins to downtown KC). Rent for 1BR: $850 - $1,100.
3. Countryside/Merriam (66202/66204): Located in the northeast corner of OP, this area offers a slightly more affordable entry point while still being in the desirable Shawnee Mission School District. It's a quick commute to Kansas City, MO, and has easy access to I-35. A practical choice for new professionals. Rent for 1BR: $750 - $950.
4. Leawood (66211): Technically its own city but part of the Overland Park metro area. It's an affluent, established community with a strong business corridor along State Line Road. This is where you'll find many senior loan officers and wealth managers living. The lifestyle is upscale and quiet. Rent for 1BR: $1,000 - $1,400.
5. Lenexa (66215): A growing city just southwest of Overland Park, with a mix of new developments and established neighborhoods. It's home to the Johnson County Government Center and has a burgeoning "City Center" project. Offers a good balance of value and modern amenities. Rent for 1BR: $800 - $1,050.

The Long Game: Career Growth

A Loan Officer role in Overland Park isn't a dead-end job; it's a launchpad. The 10-year outlook, while modest at 3% growth, is stable, meaning seasoned professionals are always in demand. Advancement isn't just about tenure; it's about strategic specialization.

• Specialty Premiums: Moving into niches like VA Loans (strong veteran population in KC metro), FHA/USDA (great for first-time buyers in developing areas of Lenexa or Olathe), or Commercial Real Estate (tied to the corporate HQs) can add 10-20% to your base salary. Commercial loan officers at UMB or Commerce can easily out-earn their residential counterparts.
• Advancement Paths:
  • Sales Management: Move from individual contributor to managing a team of loan officers. This is common at large banks and brokerages.
  • Underwriting/Servicing: Use your front-line experience to move into the back-office, analyzing risk and managing loan portfolios. This path often offers more stable hours.
  • Branch Management: Oversee the entire operations of a local bank branch, a role that combines sales, compliance, and operations.
  • Financial Advisor: Some LOs, especially those at credit unions, parlay their mortgage knowledge into a broader financial advising role, helping clients with overall wealth management.

The key to the long game in Overland Park is building a reputation. In a city where "who you know" matters, a track record of closing loans efficiently and ethically will make you a sought-after commodity, even if the overall job growth is slow.

The Verdict: Is Overland Park Right for You?

Pros	Cons
Low Cost of Living: Your salary goes significantly further than on the coasts or in major metros like Denver or Austin.	Modest Salary Growth: The median salary is slightly below the national average, and rapid, explosive raises are less common.
Stable Job Market: The 394 jobs and 3% growth indicate a reliable, non-volatile market for financial professionals.	Limited "Big City" Vibe: Overland Park is a suburb. For nightlife, major league sports, and a bustling arts scene, you need to drive to downtown Kansas City, MO.
High Quality of Life: Excellent schools, safe neighborhoods, and abundant family amenities make it ideal for long-term settlement.	Competitive Real Estate Market (for agents): As an LO, you'll need to build strong relationships with a saturated field of real estate agents to generate leads.
Strategic Location: Easy access to the entire Kansas City metro, including major employers in both states.	Car-Dependent: While there are walkable pockets, the city layout requires a car for daily commuting and errands.

Final Recommendation: Overland Park is an excellent choice for a Loan Officer who values stability, quality of life, and long-term financial planning over chasing the highest possible salary. It's perfect for mid-career professionals looking to buy a home, start a family, or transition into a leadership role within a supportive community. If you're a new entrant, the lower cost of living gives you a crucial runway to get licensed and build your book of business. However, if you're seeking the fast-paced, high-roller environment of a Wall Street-style mortgage market, you might find the pace here too measured.

FAQs

Q: What is the job market really like for new loan officers in Overland Park?
A: It's competitive but accessible. The key is to target credit unions and community banks for entry-level or trainee positions. They often provide the training you need to get licensed. Avoid jumping straight into a commission-only role at a small brokerage until you have a network.

Q: How important is a college degree to get hired here?
A: While many employers prefer a bachelor's degree (especially in Finance, Business, or Communications), it's not an absolute requirement. Your NMLS license and proven sales/customer service skills can outweigh a degree. Many successful LOs in the area have a background in real estate, banking, or even sales.

Q: Is it better to work for a bank or a mortgage broker in this market?
A: It depends on your style. Banks (like Commerce or UMB) offer stability, a structured career path, and benefits, but often with more red tape. Brokerages offer more flexibility, higher commission potential, and a wider array of loan products, but with less security. In Overland Park, credit unions often provide the best of both worlds.

Q: Do I need to know the Kansas/Missouri state lines for my job?
A: Absolutely. The Overland Park metro straddles two states. You'll need to understand the licensing requirements for both. Many LOs get dual-licensed (KS and MO) to work with clients on both sides of the state line, which is a huge advantage in this market.

Q: What's the best way to network as a new loan officer in the area?
A: Join the Kansas Association of Mortgage Brokers (KAMB) and attend their events. The Johnson County Board of Realtors also hosts mixers where you can connect with agents. Insider tip: Offer to host a "lunch and learn" for a small real estate office to explain your loan products—it's a great way to get in front of multiple agents at once.