Loan Officer in Pueblo, CO

This guide is written for the Loan Officer who’s eyeing Pueblo, Colorado—not as a tourist, but as someone seriously considering planting roots here. I’ve lived in and around Southern Colorado for years, and I’ll tell you straight: Pueblo isn’t Denver. It’s not a sprawling financial hub. It’s a tight-knit, resilient city where your reputation matters more than your résumé, and where the cost of living is a genuine advantage. If you're looking for a high-volume, cutthroat mortgage market, look elsewhere. But if you want to build a sustainable career where your work directly impacts your community, this guide is for you.

We’re going to cut through the fluff. No promotional nonsense. Just the data, the local context, and the insider perspective you need to decide if Pueblo is the right move for your career and your life.

The Salary Picture: Where Pueblo Stands

Let’s start with the numbers that matter. In Pueblo, the financial landscape for a Loan Officer is modest but stable. The data, pulled from the Bureau of Labor Statistics (BLS) and state labor market information, paints a clear picture.

The median salary for a Loan Officer in Pueblo is $74,462 per year. That translates to a median hourly rate of $35.8. This is slightly below the national average of $76,200, but the gap is minor. The real story is in the context: Pueblo’s cost of living is significantly lower, which we’ll break down later.

The job market itself is small but consistent. There are 222 Loan Officer jobs in the metro area. It’s not a flood of openings, but with a 10-year job growth of 3%, the market isn’t shrinking. It’s stable, predictable, and for the right person, that’s a strength. You’re not competing with thousands of newcomers every year.

Here’s how salaries break down by experience level within the Pueblo market:

Experience Level	Estimated Annual Salary	Key Responsibilities & Context
Entry-Level (0-2 yrs)	$55,000 - $65,000	Typically starts as a processor or assistant. Focus on learning regulations (TRID, RESPA), basic underwriting, and building a referral network. Expect a higher reliance on base salary with commission potential as you grow.
Mid-Level (3-7 yrs)	$70,000 - $85,000	You’re managing your own pipeline. You have established relationships with realtors in Pueblo West and the Bessemer neighborhood. You’re proficient in FHA, VA, and USDA loans, which are crucial in this market.
Senior-Level (8-12 yrs)	$85,000 - $105,000	You’re a producer. Your income is largely commission-driven. You might specialize in commercial loans for local businesses or jumbo loans for executives at the hospital or the steelworks. You’re mentoring junior LOs.
Expert/Manager (12+ yrs)	$110,000+	This is branch management, regional sales leadership, or a top-producing solo LO with a deep, referral-only book of business. Your income is tied to team performance or a significant portfolio.

How does this compare to other Colorado cities?
You’re making a deliberate trade-off. In Denver/Boulder, the median is closer to $85,000+, but your rent for a 1BR will be $1,400+ and the competition is fierce. In Colorado Springs, salaries are similar to Pueblo (~$75,000), but the market is more saturated. Pueblo offers a lower barrier to entry and a lower cost of living, which can be a strategic advantage for building wealth over time, even if the top-end salary ceiling is lower.

The Real Take-Home: After Taxes and Rent

A $74,462 salary sounds solid, but let’s ground it in Pueblo’s reality. We’ll break down a monthly budget for a single Loan Officer earning the median.

Assumptions:

• Gross Monthly Income: $74,462 / 12 = $6,205
• Taxes & Deductions: Using a simplified tax calculator for Colorado (federal, state, FICA), take-home pay is roughly 75% of gross.
• Take-Home Pay: ~$4,654/month
• Rent: Pueblo’s average 1BR rent is $881/month. We’ll use this figure.

Here’s a realistic monthly budget breakdown:

Category	Estimated Monthly Cost	Notes & Local Context
Take-Home Pay	$4,654	After federal, state, and FICA taxes.
Rent (1BR)	$881	The Cost of Living Index is 92.4 (US avg = 100). This is where you feel the advantage.
Utilities	$150 - $200	Varies by season. Winters can be cold; summer AC costs are moderate.
Groceries	$350 - $400	Shop at Safeway on Pueblo Blvd or the local King Soopers. The Pueblo Farmers Market is a great budget-friendly option.
Car Payment/Gas	$400 - $500	This is non-negotiable. Pueblo has limited public transit. You will drive. Gas is typically cheaper than the national average.
Insurance (Car/Health)	$300 - $400	Health insurance through an employer is standard.
Retirement (401k Match)	$200	At least contribute enough to get the employer match—it’s free money.
Discretionary	$1,400+	This is your buffer for dining out, entertainment, hobbies, and savings.

Can they afford to buy a home?
Yes, absolutely. This is Pueblo’s biggest draw for professionals. With a $1,400+ monthly surplus, you are in a strong position to save for a down payment. The median home price in Pueblo hovers around $280,000. A 20% down payment is $56,000. At your savings rate, you could realistically save this in 3-4 years, or less with a disciplined budget. Many local LOs live in the very homes they help finance, understanding the local market intimately.

Where the Jobs Are: Pueblo's Major Employers

Pueblo’s economy is anchored by healthcare, education, and a legacy of heavy industry. As a Loan Officer, your clients will come from these sectors. You need to know the landscape.

1. Centura Health (St. Mary-Corwin Medical Center & Parkview Medical Center): The two largest hospitals in the city. They employ thousands, from surgeons to nurses to administrators. These are stable, high-income clients for mortgages and personal loans. Hiring Trend: Consistent. Healthcare is recession-proof in Pueblo.
2. Colorado State University Pueblo (CSU Pueblo): A growing university with over 5,000 students and 1,200 staff. Faculty and staff are excellent candidates for mortgages. Hiring Trend: Steady growth, especially in nursing and business programs.
3. Pueblo School District 60 & 70: The public school systems are massive employers. Teachers and administrators are prime clients. Hiring Trend: Stable, with cyclical hiring peaks in late spring/summer.
4. Evraz Rocky Mountain Steel: While not the steel giant of the past, Evraz remains a significant industrial employer. This is your entry point to a different client base—skilled tradespeople, engineers, and management. Hiring Trend: Stable, tied to national manufacturing and energy sectors.
5. City and County of Pueblo: The local government is a huge employer, from public works to the sheriff’s office. Hiring Trend: Stable, with opportunities in public safety and administration.
6. Local Banks & Credit Unions: Your direct competition and potential employers. Key players include Minnequa Bank, Pueblo Bank & Trust, and Ent Credit Union. They are deeply embedded in the community. Hiring Trend: They often hire from within or through local networks. It’s less about online job postings and more about who you know.

Getting Licensed in Colorado

You cannot practice as a Loan Officer in Colorado without a license. The process is managed by the Colorado Division of Real Estate (DORA) and the Nationwide Multistate Licensing System (NMLS).

State-Specific Requirements:

1. Education: Complete 20 hours of pre-licensing education approved by the NMLS. This includes federal and state law, ethics, and mortgage lending principles.
2. NMLS Exam: Pass the National Component of the SAFE MLO Exam.
3. Colorado State Exam: Pass the Colorado-specific exam.
4. Background Check & Credit Report: Submit fingerprints and pass a credit check.
5. Sponsorship: You must be sponsored by a licensed Colorado mortgage company (your employer).
6. State Fees: Expect to pay approximately $500-$700 in total fees for exams, licensing, and background checks.

Timeline to Get Started:

• Pre-Licensing Course: 1-2 weeks (can be done online).
• Study & Exam Scheduling: 2-4 weeks.
• Licensing & Sponsorship: 2-6 weeks after passing exams.
• Total Realistic Timeline: 2 to 4 months from start to holding your license, assuming you dedicate time to studying.

Insider Tip: Start your job search before you finish the process. Many Pueblo lenders will help sponsor you and may even cover some costs if you commit to them. Network on LinkedIn with local branch managers.

Best Neighborhoods for Loan Officers

Where you live affects your commute, your network, and your lifestyle. Pueblo is a driving city, but neighborhoods have distinct vibes.

1. Pueblo West (Suburban): The largest and fastest-growing area. A classic suburban feel with larger homes, newer builds, and families. It’s about a 15-20 minute drive to downtown. Rent Estimate: $900 - $1,200 for a 1BR/2BR. Ideal if you want space and a quiet lifestyle. You’ll meet many clients here.
2. Downtown / Bessemer (Urban Core): The historic heart of the city. Walkable to the Riverwalk, restaurants, and the Sangre de Cristo Arts Center. Older, charming homes and apartments. Rent Estimate: $750 - $1,000 for a 1BR. Perfect for someone who wants a vibrant, walkable scene and a short commute to downtown offices.
3. North Side (Established & Quiet): A mix of classic Pueblo bungalows and mid-century homes. Very stable, family-oriented, and close to the hospital corridor. Rent Estimate: $800 - $1,100 for a 1BR. Great for LOs who value a quiet, established community feel.
4. South Side (Affordable & Central): Offers some of the most affordable housing in the city. It’s more densely populated and closer to the I-25 corridor. Rent Estimate: $700 - $900 for a 1BR. A smart financial choice if you want to maximize savings early in your career.
5. El Camino / Grove (Midtown): A mix of residential and commercial. Close to CSU Pueblo and the medical center. Good value and central location. Rent Estimate: $750 - $1,000 for a 1BR. A balanced option for a young professional.

The Long Game: Career Growth

In Pueblo, career growth isn’t about jumping to a bigger firm every two years. It’s about deepening your expertise and your local network.

• Specialty Premiums: Your value increases with niches. USDA Rural Development loans are huge in the surrounding areas (like Pueblo West and beyond the city limits). VA loans are critical with the veteran population. FHA is the workhorse for first-time buyers. Becoming the local expert in one of these will set you apart.
• Advancement Paths: The typical path is LO Assistant → Junior LO → Senior LO → Branch Manager. Many senior LOs in Pueblo eventually open their own boutique mortgage brokerages or join a local bank as a Vice President of Lending. The path to Commercial Lending is also viable, working with local businesses from the steel mill to new restaurants on Union Ave.
• 10-Year Outlook: The 3% job growth suggests stability, not explosion. The market will remain competitive but not saturated. Your long-term success will hinge on repeat business and referrals. The LO who helps a teacher buy their first home in Bessemer will likely help their colleagues and be the go-to name for years. It’s a long-game, relationship-based market.

The Verdict: Is Pueblo Right for You?

Pros	Cons
Extremely Low Cost of Living: Your salary goes much further. Homeownership is achievable on a median income.	Smaller, Less Dynamic Market: Fewer high-end, complex transactions. Career ceiling is lower than in major metros.
Stable, Community-Focused Economy: Key employers are recession-resistant. Your network is manageable.	Limited High-End Entertainment: No major sports teams, limited nightlife compared to Denver/Colorado Springs.
Manageable Competition: You’re not a face in a crowd. Building a reputation is faster and more impactful.	Car-Dependent Lifestyle: Public transit is limited. You must be comfortable driving everywhere.
Quality of Life: Access to outdoor recreation (Lake Pueblo State Park, nearby mountains) is excellent.	Economic Diversification is Slow: The economy is not rapidly evolving; it’s steady but not booming.

Final Recommendation:
Pueblo is an excellent choice for a Loan Officer who is pragmatic, relationship-driven, and values stability over high-stakes, high-volume competition. It is ideal for those in the mid-to-senior level who want to build a book of business that will last decades, buy a home without financial strain, and enjoy a slower pace of life with easy access to Colorado’s outdoors. It is less ideal for a recent graduate seeking a fast-paced, high-earning launch in a cutthroat market.

FAQs

1. Do I need a car?
Absolutely. Pueblo is not a walkable city. While downtown is compact, your clients, offices, and homes will be spread across the metro area. Public transit exists but is not reliable for a professional schedule. Budget for a reliable vehicle and gas.

2. Is the market dominated by a few big banks?
No. While national lenders are present, the local market is a healthy mix of national banks (Wells Fargo, Chase), local banks (Minnequa, Pueblo Bank & Trust), credit unions (Ent), and mortgage brokers. Relationships with local realtors are key, and they often work with multiple lenders.

3. How important is it to specialize in USDA loans?
Crucial if you want to serve clients in Pueblo West and the surrounding rural areas. USDA loans offer 0% down payment and are a major driver for first-time buyers in the region. Not specializing here is leaving money on the table.

4. What’s the best way to network in Pueblo?
Skip the flashy conferences. Join the Pueblo Association of Realtors. Attend their monthly meetings. Volunteer for community events like the Pueblo Chile & Frijoles Festival or charity golf tournaments. Business in Pueblo is built on face-to-face trust.

5. Can I work remotely for a Denver-based lender?
Yes, but it’s challenging. You would need to be licensed in Colorado and have a physical presence in Pueblo to meet clients and realtors. The local market values local presence. A hybrid model (remote processing, in-person client meetings) can work, but being fully remote is a significant disadvantage.