Check out your Company Bowl for anonymous work chats.
Bowls
Get actionable career advice tailored to you by joining more bowls.
Followed companies
Stay ahead in opportunities and insider tips by following your dream companies.
Job searches
Get personalized job recommendations and updates by starting your searches.
Top paying industries
The top 5 paying industries for Loan Processor in United States are Insurance with a median total pay of $58,610, Media & Communication with a median total pay of $57,328, Construction, Repair & Maintenance Services with a median total pay of $56,496, Real Estate with a median total pay of $55,979, and Government & Public Administration with a median total pay of $54,566.
Insurance
Top paying companies in Insurance for Loan Processor are USAA and Assurant.
Jobs in finance and accounting are expected to see continued demand, with employment growth linked to the health of the broader economy. These jobs will continue to offer above average pay but usually require higher education or certification to enter the field. While automation will replace many common tasks, it is not expected to reduce the need for these employees; it will instead allow them to focus on core soft skills like advising clients and analyzing trends.
Loan Processor salary in US
A Loan Processor salary range in US can vary based on important factors such as education, skills, certifications, and years of experience. A Loan Processor in US can expect to see an entry level salary range of $29,917 to $52,340 per year, based on 7 salary contributions. At the highest seniority level, an experienced Loan Processor in US can make a salary range of $31,327 to $90,598 with at least 5 years of experience, based on 37 salary contributions. The top 3 companies in US where a Loan Processor gets the highest compensation are The Judge Group, Inc., Mutual of Omaha Mortgage and Sovereign Lending Group Inc.. Bigger companies typically pay 8.40% less than smaller companies for a Loan Processor.
Frequently asked questions about Loan Processor salaries
The average salary for Loan Processor is $62,461 per year or $30 per hour, with top earners making up to $89,115 (90th percentile). Typically, pay ranges from $52,007 (25th percentile) to $75,375 (75th percentile) annually. Salary estimates are based on 8836 salaries submitted anonymously to Glassdoor by Loan Processor employees.
The highest salary for Loan Processor is $75,375 per year, $6,281 per month or $36 per hour.
The lowest salary for Loan Processor is $52,007 per year, $4,334 per month or $25 per hour.
The salary trajectory of Loan Processor ranges between locations and employers. The salary starts at $59,452 per year (estimate) and goes up to $222,944 per year (estimate) for the highest level of seniority.
Loan processors earn salaries similar to those of tellers, insurance sales agents, and tax examiners. Salaries are expected to remain steady. While both businesses and individuals will continue to seek credit seek for commercial investments and personal spending, the decline of branch banks will tame demand. Successful loan processors can move into bank branch manager positions.
Loan processors can be considered high earners. According to anonymous Glassdoor reviews, 66% of employees are satisfied with their salary in this field. This role is competitive and offers many opportunities for career and education progression.
Choose industry-specific skills to increase your chance of getting onto the career ladder as a loan processor. Salaries often begin around $44,142.35 and increase up to $89,114.90 with experience. For each level of seniority, you'll need to master additional skills and build a considerable amount of experience. Senior roles, such as senior loan processor, often come with a higher earning potential.
A career as a loan processor is competitive, so it pays to begin by focusing on developing specific financial skills. You can choose an industry specialization once you have earned your bachelor's degree and gained working experience to further increase your salary. For example, choose to focus on developing property lending skills if you want to work for a mortgage broker or business lending for professional loans. You could choose to study for a master's degree, which isn't compulsory for career progression, but could earn you more opportunities sooner than without a degree.
As with all careers, arm yourself with knowledge and data about this role before you start negotiations. Loan processors are in demand, so you should check if you're paid fairly by comparing the salary for your loan processor job with others in your area. Prove you're worth the salary increase by showing your boss proof of your working knowledge in areas such as loan documentation, servicing, and compliance. If you've previously taken on more responsibilities in your role, point this out by explaining what you did and the results of your hard work.
2,669 results
Recent salaries shared by Loan Processor
Job Title | Years of Experience
Total Pay
Base • Additional pay
Location
Date submitted
Job Title | Years of Experience
Location
Date submitted
Total Pay
Base • Additional pay
No results match your search
Try a different job title or department to explore salaries in related fields.
Farm Credit Mid-America
Private TV
Quontic Bank
Mann Mortgage
Filo Mortgage