Closer Salary

A Closer earns an average salary of $42,901 per year.

$33,172 - $54,412
$33K
$43K
$54K
MEDIAN: $43,244
10%
50%
90%

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$9.67 - $24.79
$9
$18
$25
MEDIAN: $18.38
10%
50%
90%

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National Salary Data (?
XAll compensation data shown are gross 10th to 90th percentile ranges. Take the PayScale Survey to find out how location influences pay for this job.
)
$0$19K$38K$57K
Salary
$33,172 - $54,412  
   
Bonus
$2,970 - $14,933  
Commission
$2,500  
Total Pay (?
XTotal Pay combines base annual salary or hourly wage, bonuses, profit sharing, tips, commissions, overtime pay and other forms of cash earnings, as applicable for this job. It does not include equity (stock) compensation, cash value of retirement benefits, or the value of other non-cash benefits (e.g. healthcare).
)
$24,619 - $55,437  
Country: United States | Currency: USD | Updated: 4 May 2017 | Individuals Reporting: 72
National Hourly Rate Data (?
XAll compensation data shown are gross 10th to 90th percentile ranges. Take the PayScale Survey to find out how location influences pay for this job.
)
$0$13$26$39
Hourly Rate
$9.67 - $24.79  
   
Hourly Tips
$0.00  
Overtime
$11.07 - $38.14  
National Annualized Data (?
XAll compensation data shown are gross 10th to 90th percentile ranges. Take the PayScale Survey to find out how location influences pay for this job.
)
$0$26K$52K$78K
Bonus
$2,970 - $14,933  
   
Commission
$2,500  
Total Pay (?
XTotal Pay combines base annual salary or hourly wage, bonuses, profit sharing, tips, commissions, overtime pay and other forms of cash earnings, as applicable for this job. It does not include equity (stock) compensation, cash value of retirement benefits, or the value of other non-cash benefits (e.g. healthcare).
)
$24,619 - $55,437  
Country: United States | Currency: USD | Updated: 4 May 2017 | Individuals Reporting: 68

Find Out Exactly What You Should Be Paid

United States (change)

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Job Description for Closer

A closer is responsible for a number of tasks related to closing loans. This includes overseeing and managing loan processing within the company's policies. They must maintain excellent communication with customers, staff, and any other relevant parties to ensure a proper and timely settlement. They also send written requests and make phone calls to parties involved in the loan to obtain additional information as needed. Additionally, a closer is responsible for obtaining and preparing information needed to close a loan. Closers typically work in an office setting during regular business hours, although overtime may be required depending on the needs of the company. Businesses that offer loans, such as banks, are typical employers for closers.

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Closer Tasks

  • Authorize funding upon verification of all documentation.
  • Order credit reports, appraisals, title insurance, and all other certifications as necessary.
  • Answer questions regarding closing requirements.
  • Maintain communication with brokers partners and closing/settlement agents with loan status.

Loan Closer Job Listings

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Pay by Experience Level for Closer

Pay by Experience for a Closer has a positive trend. An entry-level Closer with less than 5 years of experience can expect to earn an average total compensation of $40,000 based on 67 salaries provided by anonymous users. Average total compensation includes tips, bonus, and overtime pay. A Closer with mid-career experience which includes employees with 5 to 10 years of experience can expect to earn an average total compensation of $40,000 based on 28 salaries. An experienced Closer which includes employees with 10 to 20 years of experience can expect to earn an average total compensation of $47,000 based on 41 salaries. A Closer with late-career experience which includes employees with greater than 20 years of experience can expect to earn an average total compensation of $46,000 based on 17 salaries.

Related Job Salaries

Key Stats for Closer

Gender

Female
75 %
Male
25 %

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 18 votes.
Less than 1 year
4%
1-4 years
38%
5-9 years
16%
10-19 years
27%
20 years or more
14%
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Location:
Years in Fields/Career:
United States (change)

Experience Affects Closer Salaries

Experienced
▲14%

Late-Career
▲10%

National Average
$42,000

Mid-Career
▼3%

Entry-Level
▼4%

Skills That Affect Closer Salaries

Mortgage Loans
▲7%

National Average
$42,000

Loan Documents
▼19%

Customer Service
▼20%

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 18 votes.

Gender

Female
75 %
Male
25 %

Years of Experience

Less than 1 year
4%
1-4 years
38%
5-9 years
16%
10-19 years
27%
20 years or more
14%

Common Health Benefits

medical benefits
Medical: 71%
dental benefits
Dental: 55%
vision benefits
Vision: 40%
no benefits
None: 26%
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