A Closer earns an average salary of $42,435 per year.

$33,125 - $53,010
$33K
$42K
$53K
MEDIAN: $42,434
10%
50%
90%

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$9.63 - $24.89
$9
$18
$25
MEDIAN: $18.00
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$19K$38K$57K
Salary
$33,125 - $53,010  
   
Bonus
$2,970 - $14,933  
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).
)
$22,367 - $55,611  
Country: United States | Currency: USD | Updated: 18 Jan 2017 | Individuals Reporting: 71
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
$9.63 - $24.89  
   
Hourly Tips
$0.00  
Overtime
$11.64 - $37.70  
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  
   
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).
)
$22,367 - $55,611  
Country: United States | Currency: USD | Updated: 18 Jan 2017 | Individuals Reporting: 66

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.

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

Key Stats for Closer

Gender

Female
74 %
Male
26 %

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 18 votes.
Less than 1 year
4%
1-4 years
37%
5-9 years
18%
10-19 years
27%
20 years or more
13%
Location:
Years in Fields/Career:
United States (change)

Experience Affects Closer Salaries

Experienced
up arrow 12%

Late-Career
up arrow 8%

National Average
$42,000

Mid-Career
up arrow 3%

Entry-Level
up arrow 5%

Skills That Affect Closer Salaries

Mortgage Loans
up arrow 8%

National Average
$42,000

Customer Service
up arrow 19%

Loan Documents
up arrow 19%

Job Satisfaction

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

Gender

Female
74 %
Male
26 %

Years of Experience

Less than 1 year
4%
1-4 years
37%
5-9 years
18%
10-19 years
27%
20 years or more
13%

Common Health Benefits

medical benefits
Medical: 68%
dental benefits
Dental: 51%
vision benefits
Vision: 37%
dental benefits
None: 29%
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