Loan Officer in San Angelo, TX

Here is a comprehensive career guide for Loan Officers considering San Angelo, Texas.

The Salary Picture: Where San Angelo Stands

As a local career analyst, I’ve found that San Angelo offers a solid, if not spectacular, financial foundation for Loan Officers. It’s a place where your salary stretches further than in major metros, but you should understand the local market dynamics.

The median salary for a Loan Officer in San Angelo is $74,119 per year, which breaks down to an hourly rate of $35.63. This figure sits just slightly below the national average of $76,200, a common scenario for mid-sized cities in Texas. The job market here is stable but not explosive; the 10-year job growth is projected at 3%, and the metro area supports about 194 jobs for this profession. This isn’t a high-turnover, boom-and-bust market; it’s a relationship-driven economy where stability and local knowledge are your biggest assets.

To give you a clearer picture of your earning potential, let’s break it down by experience level. These are realistic estimates based on local banking structures and commission potentials.

Experience Level	Estimated Annual Salary	Typical Responsibilities
Entry-Level	$55,000 - $65,000	Processing applications, learning underwriting guidelines, building a referral network with realtors.
Mid-Career	$74,119 (Median)	Managing a full pipeline, strong local lender relationships (especially with local credit unions), handling complex FHA/VA loans.
Senior	$90,000 - $115,000	Specializing in jumbo or construction loans, mentoring junior officers, managing key accounts with local builders.
Expert/Manager	$120,000+	Branch management, developing niche products (e.g., for agriculture or small business), overseeing a team of originators.

Insider Tip: The gap between the median and the national average is narrow here. The real differentiator isn’t beating the average salary; it’s leveraging San Angelo’s low cost of living to maximize your disposable income. A $74,119 salary here feels more like a six-figure income in Dallas or Austin when you factor in housing and daily expenses.

How San Angelo Compares to Other Texas Cities:
While it doesn’t compete with the salaries of Dallas, Houston, or Austin, San Angelo outperforms many of its West Texas peers. A Loan Officer in Lubbock or Midland-Odessa might see a similar or slightly higher base salary, but they often contend with a higher cost of living and a more volatile oil-and-gas-driven economy. San Angelo’s economy is more diversified, anchored by government, healthcare, and a stable agricultural sector.

The Real Take-Home: After Taxes and Rent

Let’s talk real numbers. With a median salary of $74,119, your take-home pay will vary based on factors like 401(k) contributions and health insurance. A rough estimate for a single filer in Texas (which has no state income tax) is that you’ll take home approximately $56,000 to $58,000 annually after federal taxes and FICA. This translates to a monthly take-home of about $4,650 to $4,850.

Here’s a practical monthly budget breakdown for a Loan Officer earning the median salary:

Category	Estimated Monthly Cost	Notes
Housing (1BR Rent)	$927	The city-wide average, but varies by neighborhood (see below).
Utilities	$180	Electricity, water, internet. Summers can be hot, raising A/C costs.
Transportation	$350	Gas and insurance. San Angelo is a driving city; most commutes are 15-25 minutes.
Groceries & Dining	$450	A mix of H-E-B and local eateries.
Health Insurance	$300	Premiums for employer-sponsored plans.
Debt/Loans	$300	Student loans, car payments (highly variable).
Entertainment & Misc.	$400	Movies, coffee shops, local events.
Savings & Investments	$1,743 - $1,943	The remaining balance after expenses.

Can They Afford to Buy a Home?
Absolutely. This is where San Angelo shines for professionals. With nearly $1,800/month in potential savings, a Loan Officer can aggressively save for a down payment. The local housing market is very accessible. The median home price in San Angelo is roughly $235,000. For a $235,000 home with a 20% down payment ($47,000), the monthly mortgage payment (including taxes and insurance) would be around $1,500-$1,600. This is only about $600 more than the average rent, making homeownership a realistic and logical next step within 2-4 years of saving.

Insider Tip: Many local lenders offer first-time homebuyer programs with lower down payment requirements (e.g., 3-5%). As a Loan Officer, you’ll be privy to these programs first, giving you a professional advantage in purchasing your own home.

Where the Jobs Are: San Angelo's Major Employers

The job market for Loan Officers in San Angelo is dominated by a mix of national banks, local credit unions, and community-focused lenders. The key is to target employers with a strong local presence, as they value community ties over everything else.

1. First National Bank of San Angelo: A cornerstone of the local financial scene. They heavily recruit Loan Officers who understand the agricultural and small business lending landscape. Hiring is steady, often tied to retirements or branch expansions.
2. San Angelo Credit Union: As one of the largest credit unions in the region, they are a major employer for consumer lending (auto, personal, mortgage). They prioritize member relationships, so your ability to network with existing members is crucial.
3. First Financial Bank: A larger regional player with a significant footprint in San Angelo. They offer opportunities in both consumer and commercial lending. Their hiring trends often follow corporate growth strategies, so monitoring their quarterly reports can give you insight.
4. Chase & Wells Fargo: While national, their San Angelo branches operate with a local focus. These roles often come with robust training programs but can be more metric-driven. They are a good entry point for those with less experience.
5. Local Mortgage Brokerages: Firms like Mortgage Solutions of West Texas or independent brokers provide a different path. Here, your income is almost entirely commission-based, offering higher upside but less stability. This is for the entrepreneurial Loan Officer.
6. Texas Veterans Commission: San Angelo has a strong military community due to the nearby Goodfellow Air Force Base. Specializing in VA loans can make you highly valuable to both private lenders and the Texas Veterans Commission, which has an office in the city.

Hiring Trends: The market is stable. Most hiring occurs due to retirements (common in the local banking sector) or branch growth. Networking is paramount. Attend events hosted by the San Angelo Chamber of Commerce and the Tom Green County Appraisal District to connect with realtors and builders who send referrals.

Getting Licensed in TX

Texas requires a state license to act as a Mortgage Loan Originator (MLO). The process is regulated by the Texas Department of Savings and Mortgage Lending (TDSML).

Step-by-Step Requirements:

1. Pre-Licensing Education: You must complete 23 hours of NMLS-approved pre-licensing education. This includes courses on Texas-specific laws and regulations. Cost: ~$250 - $400.
2. NMLS Account: Create an account with the Nationwide Multistate Licensing System & Registry (NMLS). The initial application fee is $30.
3. State License Application: File your application with TDSML. The processing fee is $200.
4. Background Check: Submit fingerprints through the TDSML portal. Fingerprinting fees are typically ~$50.
5. National & State Exams: You must pass the SAFE MLO National Exam (75% passing score) and the Texas State Supplemental Exam (75% passing score). Exam fees are ~$92 (national) + $25 (state).
6. Surety Bond: You must be sponsored by a licensed Texas lender and be covered under their surety bond. As an individual, you do not purchase your own bond.
7. Credit Report: The NMLS will pull your credit report. There is a $15 fee.

Timeline to Get Started: From starting your pre-licensing education to getting your license, expect 3 to 4 months, assuming you study diligently and pass the exams on the first try.

Insider Tip: Many banks and lenders will sponsor you and cover the cost of your pre-licensing education and exams, but you will likely have to commit to staying with them for a certain period (e.g., 1-2 years). It’s a common and cost-effective route.

Best Neighborhoods for Loan Officers

San Angelo is a sprawling city, but neighborhoods are distinct. For a Loan Officer, where you live impacts your commute, your networking opportunities, and your lifestyle.

Neighborhood	Vibe & Commute	Avg. 1BR Rent	Why It's a Good Fit
North Central	Established, quiet, near San Angelo State University. Commute to downtown is 10-15 mins.	$950 - $1,100	Great for young professionals; close to the university for networking events.
Southside	Growing, modern, near the Sunset Mall and new commercial developments. Commute is 15-20 mins.	$900 - $1,050	Close to major lenders' offices on Hwy 355; newer apartments available.
PaulAnn / Sherwood	Affordable, family-oriented, older homes. Commute is 20-25 mins to downtown.	$800 - $950	Ideal if you're saving aggressively for a home purchase; lower rent means more savings.
Ben Ficklin / Downtown	Trendy, historic, walkable. Home to coffee shops and local restaurants. Commute is minimal.	$1,000 - $1,250	Perfect for networking; you'll run into realtors and business owners at the local coffee shops.
Bowie / Glenmore	Established, tree-lined, near the Goodfellow Air Force Base. Commute is 15-20 mins.	$850 - $1,000	Excellent for building relationships with military personnel and their families for VA loans.

Insider Tip: If you can, live in the Ben Ficklin or Downtown area during your first year. The networking you’ll do at the Farmer’s Market or at The Chicken Farm Art Center on a Saturday morning is invaluable for building a referral business.

The Long Game: Career Growth

In San Angelo, career growth is less about rapid promotions and more about specialization and reputation.

Specialty Premiums:

• VA Loans: With Goodfellow AFB nearby, being a VA specialist can double your referral stream from military families.
• Agricultural Loans: Understanding the nuances of Farm Service Agency (FSA) loans and land lending makes you indispensable to local farmers and ranchers.
• Construction Loans: As San Angelo grows, new subdivisions are built. Partnering with local builders (like McCoy’s Building Supply or Lions Gate) can create a lucrative niche.

Advancement Paths:
The typical path is from Junior MLO to Senior MLO. From there, you can move into Branch Management, Regional Sales Management, or Product Development for a regional bank. Another path is to become a Mortgage Broker, opening your own shop after building a strong book of business. This requires capital but offers the highest income potential.

10-Year Outlook:
With a 3% job growth rate, the market will expand slowly but steadily. The key will be technology adoption. Loan Officers who master digital tools for application processing and customer communication will have an edge. The local economy is resilient, supported by the state’s fourth-largest military installation (Goodfellow) and a growing healthcare sector. Demand for housing will remain steady, driven by families and military personnel.

The Verdict: Is San Angelo Right for You?

Pros	Cons
Low Cost of Living: Your $74,119 salary has tremendous purchasing power.	Limited Scale: The market is small; there are only 194 jobs.
Strong Community Ties: Reputation is everything; good work gets known quickly.	Slower Pace: If you crave constant industry events and networking, you may feel isolated.
Stable Job Market: Anchored by government and healthcare, less volatile.	Limited Specialization: Fewer opportunities for ultra-niche product types (e.g., complex commercial real estate).
Access to Homeownership: A clear path to buying a home within a few years.	Conservative Market: Borrowers may be more traditional; fewer "creative" financing opportunities.

Final Recommendation:
San Angelo is an excellent choice for a Loan Officer who values stability, community, and a high quality of life over chasing the highest possible salary. It’s ideal for those in the mid-career stage looking to plant roots, buy a home, and build a lasting referral network. It’s less suitable for high-flying, deal-focused originators who need the volume and complexity of a major metro. If you’re willing to be a "big fish in a smaller pond" and specialize in local needs (VA, agricultural, first-time buyers), San Angelo can be a financially and personally rewarding place to build a career.

FAQs

1. Is the market dominated by big banks or local lenders?
Both have a strong presence, but local lenders and credit unions (like San Angelo Credit Union) often have a deeper community trust, which is key for referrals.

2. Can I work remotely as a Loan Officer here?
Yes, but with a caveat. Many lenders now offer remote work, but in San Angelo, your success hinges on local relationships. You should plan to be in the office for meetings and local networking events, even if your administrative work is remote.

3. How competitive is the job market for the 194 available positions?
It’s competitive but not cutthroat. Openings are filled by candidates who demonstrate local knowledge and a proven ability to build relationships. Cold-apply resumes often get overlooked; a referral from a realtor or a current bank employee is your best entry.

4. What’s the biggest challenge for new Loan Officers in San Angelo?
Building a pipeline from scratch. The first 12-18 months can be tough as you establish your network. It’s critical to have 6-12 months of living expenses saved before starting, especially if you join a commission-heavy brokerage.

5. Do I need to specialize immediately?
Not necessarily, but it’s wise to identify a niche early. Given the local economy, focusing on VA loans, first-time homebuyer programs, or even small business loans can set you apart from generalist lenders. Talk to experienced local officers to see where the gaps in service are.

Data Sources: Salary and job growth data are based on the Bureau of Labor Statistics (BLS) and NMLS market reports. Cost of living and rent data are from local real estate market analyses and city data (e.g., BestPlaces.net). Licensing information is from the Texas Department of Savings and Mortgage Lending (TDSML). All specific employer and neighborhood details are based on local market knowledge.