Commercial Loan Processors in the United States pull down an average of $17.27 per hour. Location is the biggest factor affecting pay for this group, followed by tenure. Commercial Loan Processors who responded to the questionnaire are largely women, dominating at 81 percent. Job satisfaction for Commercial Loan Processors is high. Most report receiving medical coverage from their employers and a strong majority collect dental insurance. The data for this snapshot was collected from individuals who took PayScale's salary survey.

$30,634 - $60,636
$31K
$44K
$61K
MEDIAN: $43,681
10%
50%
90%

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$12.42 - $22.65
$12
$17
$23
MEDIAN: $17.27
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$21K$42K$63K
Salary
$30,634 - $60,636  
   
Bonus
$400.00 - $7,370  
Profit Sharing
$1,185  
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).
)
$28,067 - $59,887  
Country: United States | Currency: USD | Updated: 18 Jan 2017 | Individuals Reporting: 100
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$12$24$36
Hourly Rate
$12.42 - $22.65  
   
Overtime
$18.51 - $33.54  
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$24K$48K$72K
Bonus
$400.00 - $7,370  
   
Profit Sharing
$1,185  
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).
)
$28,067 - $59,887  
Country: United States | Currency: USD | Updated: 18 Jan 2017 | Individuals Reporting: 110

Find Out Exactly What You Should Be Paid

United States (change)

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Job Description for Commercial Loan Processor

Commercial loan processors are responsible for receiving and processing all incoming loans for an organization. They typically sort and organize incoming loans according to the business’s criteria and enter relevant information into the system, and they are also expected to prepare and mail disclosures as necessary.

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Commercial Loan Processor 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.

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Popular Skills for Commercial Loan Processor


Commercial Loan Processors only report a few specific skills. Most notably, skills in Document Preparation, Loan Documents, Loan Processing, and Commercial Loans are correlated to pay that is above average, with boosts in pay of 6 percent. Most people skilled in Commercial Loans are similarly competent in Loan Documents.

Pay by Experience Level for Commercial Loan Processor

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


Commercial Loan Processors do not generally earn higher incomes from more experience in the field. Individuals who have worked for fewer than five years bring in approximately $35K on average. Those in the five-to-10 year range can expect an average that is only a touch bigger at $39K. After working for 10 to 20 years, Commercial Loan Processors make a median salary of $44K. In the end, the overall pattern seems to be that more experience generally corresponds to higher pay; a Commercial Loan Processor with more than 20 years of experience can earn $52K on average.

Related Job Salaries

Key Stats for Commercial Loan Processor

Gender

Female
81 %
Male
19 %

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 29 votes.
037
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 Commercial Loan Processor Salaries

Late-Career
up arrow 31%


National Average
$40,000



Skills That Affect Commercial Loan Processor Salaries



Document Preparation
up arrow 6%


Customer Service
0%

National Average
$40,000

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 29 votes.

Gender

Female
81 %
Male
19 %

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: 88%
dental benefits
Dental: 74%
vision benefits
Vision: 63%
dental benefits
None: 11%
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