Loan Officer in Wichita Falls, TX

For Loan Officers considering a move to Wichita Falls, TX, here’s the real deal. This isn’t a sales pitch; it’s a data-driven look at what your career and bank account will look like in the city locals call “Wichita Falls,” or simply “The Falls.” I’ve lived here long enough to know which neighborhoods have the best commute to the business district, where the real money is lent, and what it actually costs to live here. Let’s cut through the noise.

The Salary Picture: Where Wichita Falls Stands

Let’s get the most important number out of the way first. The median salary for a Loan Officer in Wichita Falls is $76,428/year. That breaks down to an hourly rate of $36.74/hour. This figure is nearly identical to the national average of $76,200/year, which means the local market pays competitively despite a smaller metro population of 102,683.

However, the job market is tight. There are only about 205 Loan Officer jobs in the entire metro area. The 10-year job growth is just 3%, which is slower than the national average. This isn’t a booming industry here; it’s a stable, mature market with less turnover. You’ll need to be proactive.

Here’s how experience typically translates into pay in our local market:

Experience Level	Average Salary Range (Annual)	Key Responsibilities in Wichita Falls
Entry-Level	$55,000 - $65,000	Processing applications, assisting senior officers, learning underwriting basics for local real estate.
Mid-Career	$70,000 - $85,000	Managing your own client portfolio, focusing on conventional and FHA loans, growing referral networks.
Senior/Expert	$90,000 - $120,000+	Handling complex commercial loans, portfolio management, business development with local contractors and builders.

How does this compare to other Texas cities?

• Dallas-Fort Worth (DFW): Salaries are higher (median ~$82,000), but cost of living is significantly higher. Competition is fierce.
• Austin: Similar median salary to DFW, but the housing market is incredibly expensive, making your take-home pay go further here in Wichita Falls.
• Midland/Odessa: Oil and gas boom can drive salaries higher, but the market is volatile and tied to a single industry.
• San Antonio: Very close to Wichita Falls in median salary (~$76,000), but with a larger population and more diverse job market.

Wichita Falls offers a stable, no-drama salary. You won’t get rich quick, but you also won’t be priced out of the market by skyrocketing rents.

The Real Take-Home: After Taxes and Rent

Let’s do the math. On a $76,428 median salary, your monthly take-home pay after taxes (estimated) will be roughly $4,600 - $4,800 (depending on filing status, 401k, etc.).

The average 1-bedroom rent in Wichita Falls is $843/month. The Cost of Living Index is 101.0, just 1% above the national average. This means your dollar stretches further than in most major cities.

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

Category	Estimated Monthly Cost	Notes
Take-Home Pay	$4,700	After taxes & basic deductions
Rent (1BR Avg.)	$843	18% of take-home—very affordable
Utilities	$180	Electricity, water, internet. (Winters can be cold, summers hot)
Groceries	$400	Comparable to national averages
Transportation	$350	Gas, insurance, car maintenance. (Car is essential here)
Health Insurance	$300	Employer-sponsored plan estimate
Retirement (401k)	$350	Aim for 5-7% of salary for long-term growth
Entertainment/Dining	$500	Plenty of local BBQ spots, breweries, and parks.
Discretionary/Savings	$1,777	You have significant buffer here.

Can they afford to buy a home?
Absolutely. The median home price in Wichita Falls is around $180,000 - $200,000. With $1,777/month in discretionary income, a Loan Officer can easily save a 20% down payment ($40,000) in under two years. Monthly mortgage payments (including taxes and insurance) on a $160,000 loan would likely be under $1,200/month, which is high for the area but still manageable on the median salary. This is a major advantage over cities like Austin or Dallas.

Where the Jobs Are: Wichita Falls's Major Employers

The job market is stable but concentrated. You’ll find the best opportunities with these local institutions:

1. First Bank Texas (Headquarters in Wichita Falls): A major local player. They focus heavily on agricultural lending, commercial real estate, and personal banking. Great for building a portfolio tied to the region's agriculture and small business economy.
2. Citizens National Bank: Another established local bank with deep roots. They are actively involved in community development projects, which means opportunities for loan officers who want to specialize in SBA and municipal bonds.
3. United Supermarkets (Corporate Office): While known for grocery stores, their corporate office has a significant finance department. They handle commercial loans for their own expansion and may have internal lending positions.
4. Wichita Falls Independent School District (WFISD): The school district is one of the largest employers. They sometimes have positions in their business office for managing facilities and capital improvement loans.
5. Clinics & Hospitals (United Regional Health Care System): The largest hospital system in the area. They are in a constant state of expansion. Loan Officers with experience in healthcare financing or commercial real estate can find niche work financing their growth.
6. Local Credit Unions (e.g., Wichita Falls Teachers Federal Credit Union): Credit unions are huge in Texas. They often offer more competitive rates and have a loyal member base. They are excellent places to start a career, offering a more personal, community-focused environment.
7. Real Estate Brokerages (e.g., Righthouse Realty, Better Homes and Gardens): While not direct lenders, these firms are the primary source of client referrals. Building strong relationships with top agents in the city is non-negotiable for business development.

Insider Tip: The best jobs aren’t always advertised. A significant portion of loan officer roles here are filled through networking. Join the Wichita Falls Chamber of Commerce and attend events at the Forum Auditorium. The local community is tight-knit.

Getting Licensed in TX

Texas has specific, rigorous requirements. The Texas Department of Savings and Mortgage Lending (TDSML) oversees this.

1. Pre-Licensing Education (20 Hours): You must complete a 20-hour NMLS-approved course. This covers federal law, ethics, mortgage lending, and Texas-specific regulations. Cost: $300 - $500.
2. NMLS Exam: After the course, you take the National Mortgage Licensing System (NMLS) exam. The pass rate is about 70%. You need a score of 75% or higher. Cost: $110 exam fee.
3. Background Check & Credit Report: The NMLS will run a background check and review your credit history. Cost: $80 - $100.
4. Texas State-Specific Requirements: Texas has an additional 5 hours of state-specific education. You must also submit a surety bond (often provided by your employer) and pay application fees. Cost: $200 - $400.
5. Sponsorship: You must be sponsored by a licensed Texas mortgage company (like First Bank Texas or Citizens National Bank) to activate your license.

Timeline: From starting the course to receiving your license, expect it to take 8-12 weeks if you study consistently. Some employers, like the larger banks, may sponsor you and cover these costs upfront—a huge benefit to negotiate.

Best Neighborhoods for Loan Officers

Where you live affects your commute and lifestyle. Rent varies, but all are affordable compared to the national median.

Neighborhood	Vibe	Avg. 1BR Rent	Commute to Downtown	Insider Tip
Downtown/Wichita Falls Historic District	Urban, walkable, revitalizing. Near the Kell Hall & the River District.	$900 - $1,100	5-10 minutes	Great for networking. You can walk to Chamber events and local coffee shops like Pincup.
Northwest (Near Sikes Senter Mall)	Established, suburban, family-friendly. Easy access to US 287.	$750 - $900	15-20 minutes	Solid homes, good schools. A quiet area to come home to after a long day of client calls.
Southwest (Near MSU Texas)	College-town feel, younger demographic, more apartments.	$700 - $850	20-25 minutes	Good for newer loan officers. Close to university events and a growing food scene.
Eastside (Kemp Blvd. Area)	Older, more affordable, mix of single-family and apartments.	$650 - $800	15-20 minutes	Lower rent means more savings. A practical choice for building an emergency fund.

Commute Reality: Traffic in Wichita Falls is minimal. There are no major interstates, just US 287 and I-44. The biggest congestion is on Kemp Blvd. and Kell East during rush hour, but a 20-minute commute is considered long.

The Long Game: Career Growth

Growth isn’t about job-hopping; it’s about specialization and adding value.

• Specialty Premiums: In Wichita Falls, agricultural lending (especially for ranchers and farmers) and commercial real estate (CRE) are your highest-value specializations. These require more expertise but command higher fees and commissions. A Loan Officer specializing in farm and ranch loans can earn $90,000+ after a few years, as they become indispensable to the local economy.
• Advancement Paths:
  1. Senior Loan Officer: Manage a larger portfolio and train juniors.
  2. Branch Manager: Oversee a local branch of a bank or independent lender. Salary can jump to $110,000 - $140,000.
  3. Commercial Lender: Move into underwriting larger deals for businesses, the hospital, or the school district.
  4. Mortgage Broker: Work independently, originating loans for multiple lenders. High risk, high reward, but requires a strong personal brand.

10-Year Outlook: The 3% job growth means the field isn't expanding. The opportunity for growth is in capturing more market share from existing clients and specializing. The aging population in North Texas means a steady stream of people looking to downsize or refinance. The key will be adapting to digital tools while maintaining the personal touch that is valued in Wichita Falls.

The Verdict: Is Wichita Falls Right for You?

Here’s a final, honest assessment.

Pros	Cons
High Affordability: Your salary goes very far. You can buy a house quickly.	Limited Job Market: Only 205 jobs and slow growth. Stability is key, but less opportunity for rapid advancement.
Stable, Predictable Economy: Tied to agriculture, healthcare, and education—not a boom-bust cycle.	Isolation: 2 hours to Dallas. Fewer networking events with national firms. Can feel "far from everything."
Low Competition: The field isn't saturated. You can become a known expert.	Slower Pace: If you crave the energy of a major metropolis, this may feel too quiet.
Strong Community: Easy to build a reputation and get referrals.	Car-Dependent: You must drive everywhere. Public transit is limited.
Excellent Work-Life Balance: Short commutes, less pressure than major metros.	Limited Diversity in Lending: Focus is on conventional, FHA, VA, and ag loans. Complex jumbos are rare.

Final Recommendation:
Wichita Falls is an excellent choice for a Loan Officer who values stability, affordability, and work-life balance over hyper-growth and a bustling urban scene. It’s perfect for mid-career professionals looking to buy a home, start a family, and build a solid, long-term career without the stress of a cutthroat market. It’s not the place for someone seeking to climb the corporate ladder at a national bank in a major city. If you want to be a big fish in a manageable pond where your name means something, Wichita Falls is a hidden gem.

FAQs

Q: How much can I realistically make as a new Loan Officer with zero experience?
A: You’ll likely start in a processing or junior loan officer role. Expect a base salary of $50,000 - $60,000 with commission potential. The first year is about learning and building a pipeline. Don’t expect to hit the median of $76,428 until year 2 or 3.

Q: What’s the biggest challenge for Loan Officers in Wichita Falls?
A: Building a book of business. With only 205 jobs in a tight-knit community, reputation is everything. You have to go to the Chamber meetings, sponsor local high school football (it’s a religion here), and be seen as a community pillar, not just a lender.

Q: Are there opportunities for remote work?
A: Yes, but it depends on the company. National lenders (like Rocket Mortgage or Better.com) may hire remote workers, but your local knowledge for property appraisals and understanding of Texas-specific laws (like homestead exemptions) is a major advantage. Most local banks want you in the office to meet with clients.

Q: What’s the best way to find a job here?
A: 1) Check the websites of the local banks listed above. 2) Use the NMLS License Lookup to find active mortgage companies in Wichita Falls and contact their HR. 3) Network. Attend a "Business After Hours" event hosted by the Chamber. Handing a business card to the right person is worth 100 online applications.

Q: Do I need to know Spanish?
A: While it’s a bonus and can help you serve a broader community, it is not a requirement. English is the primary language of business. However, given the proximity to the border and the agricultural community, being bilingual can give you a distinct competitive edge.