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Closer Salary

The average salary for a Closer is $38,900 per year. Experience has a moderate effect on pay for this job. People in this job generally don't have more than 20 years' experience.
$28,722 - $57,647
(Median)
29K
39K
48K
58K
MEDIAN: $38,899
10%
50%
75%
90%

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$9.01 - $21.67
(Median)
9
12
16
18
22
MEDIAN: $15.00
10%
25%
50%
75%
90%

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National Salary Data

 (?
XAll compensation data shown are gross, national 10th to 90th percentile ranges. Pay can vary greatly by location. To view local data, take the PayScale survey.
)
$0$20K$40K$60K
Salary
$28,722 - $57,647  
   
Bonus
$0.00 - $7,708  
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).
)
$24,607 - $55,189  
Country: United States | Currency: USD | Updated: 11 Dec 2014 | Individuals Reporting: 92
National Hourly Rate Data (?
XAll compensation data shown are gross, national 10th to 90th percentile ranges. Pay can vary greatly by location. To view local data, take the PayScale survey.
)
$0$12$24$36
Hourly Rate
$9.01 - $21.67  
   
Overtime
$11.28 - $33.32  
National Annualized Data (?
XAll compensation data shown are gross, national 10th to 90th percentile ranges. Pay can vary greatly by location. To view local data, take the PayScale survey.
)
$0$24K$48K$72K
Bonus
$0.00 - $7,708  
   
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).
)
$24,607 - $55,189  
Country: United States | Currency: USD | Updated: 11 Dec 2014 | Individuals Reporting: 88
United States (change)

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

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

Common Career Paths for Closer


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Loan Closer Job Listings

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Related Job Salaries

Experience Affects Closer Salaries

Experienced
up arrow 17%

Mid-Career
up arrow 3%

National Average
$38,000

Entry-Level
up arrow 9%

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 46 votes.

Gender

Female
75 %
Male
25 %

Years of Experience

Less than 1 year
6%
1-4 years
33%
5-9 years
24%
10-19 years
30%
20 years or more
7%

Common Health Benefits

medical benefits Medical: 68% dental benefits Dental: 58%
vision benefits Vision: 39% employee benefits None: 28%