Closer Salary

The average salary for a Closer is $39,408 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.

$28,764 - $57,561
(Median)
$29K
$39K
$58K
MEDIAN: $39,408
10%
50%
90%

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$8.32 - $22.17
(Median)
$8
$16
$22
MEDIAN: $15.00
10%
50%
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
$28,764 - $57,561  
   
Bonus
$0.00 - $7,919  
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).
)
$24,371 - $55,611  
Country: United States | Currency: USD | Updated: 31 Mar 2015 | Individuals Reporting: 93
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
$8.32 - $22.17  
   
Overtime
$11.10 - $34.74  
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 - $7,919  
   
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).
)
$24,371 - $55,611  
Country: United States | Currency: USD | Updated: 31 Mar 2015 | Individuals Reporting: 90

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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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Pay by Experience Level for Closer

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

Related Job Salaries

United States (change)

Experience Affects Closer Salaries

Late-Career
up arrow 32%

Experienced
up arrow 15%

Mid-Career
up arrow 4%

National Average
$38,000

Entry-Level
up arrow 10%

Skills That Affect Closer Salaries

National Average
$38,000

Customer Service
up arrow 7%

Loan Documents
up arrow 11%

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
34%
5-9 years
22%
10-19 years
31%
20 years or more
7%

Common Health Benefits

medical benefits Medical: 68% dental benefits Dental: 56%
vision benefits Vision: 39% employee benefits None: 28%