Closer Salary

A Closer earns an average salary of $40,840 per year. People in this job generally don't have more than 20 years' experience.

$29,450 - $59,202
(Median)
$29K
$41K
$59K
MEDIAN: $40,840
10%
50%
90%

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$9.65 - $23.02
(Median)
$9
$16
$23
MEDIAN: $15.00
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$20K$40K$60K
Salary
$29,450 - $59,202  
   
Bonus
$0.00 - $9,274  
Profit Sharing
$3,000  
Commission
$8,400  
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).
)
$25,644 - $59,021  
Country: United States | Currency: USD | Updated: 12 Jan 2016 | Individuals Reporting: 107
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
$9.65 - $23.02  
   
Hourly Tips
$0.15  
Overtime
$12.11 - $36.75  
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
$0.00 - $9,274  
   
Commission
$8,400  
Profit Sharing
$3,000  
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).
)
$25,644 - $59,021  
Country: United States | Currency: USD | Updated: 12 Jan 2016 | Individuals Reporting: 90
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

  • 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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Pay by Experience Level for Closer

Median of all compensation (including tips, bonus, and overtime) by years of experience.

Related Job Salaries

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Experience Affects Closer Salaries

Late-Career
up arrow 26%

Experienced
up arrow 17%

Mid-Career
up arrow 2%

National Average
$40,000

Entry-Level
up arrow 10%

Skills That Affect Closer Salaries

National Average
$40,000

Loan Documents
up arrow 15%

Customer Service
up arrow 16%

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 41 votes.

Gender

Female
77 %
Male
23 %

Years of Experience

Less than 1 year
5%
1-4 years
35%
5-9 years
22%
10-19 years
32%
20 years or more
7%

Common Health Benefits

medical benefits
Medical: 71%
dental benefits
Dental: 58%
medical benefits
Vision: 42%
dental benefits
None: 24%
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