Commercial Loan Processor Salary

The average Commercial Loan Processor in the United States can expect to rake in roughly $17.20 per hour. Experience level is the biggest factor affecting pay for this group, followed by geography. Most Commercial Loan Processors like their work and job satisfaction is high. Medical benefits are awarded to most, and a strong majority earn dental coverage. The vast majority of Commercial Loan Processors (80 percent) who responded to the survey are women. This overview is based on answers to PayScale's salary questionnaire.

$30,126 - $60,593
$30K
$43K
$61K
MEDIAN: $43,080
10%
50%
90%

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$12.52 - $23.03
$13
$17
$23
MEDIAN: $17.20
10%
50%
90%

Add this chart to your site: 640px    300px

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
$30,126 - $60,593  
   
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).
)
$28,046 - $60,391  
Country: United States | Currency: USD | Updated: 25 Mar 2017 | Individuals Reporting: 101
© PayScale, Inc. @ www.payscale.com
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
$12.52 - $23.03  
   
Overtime
$19.37 - $33.30  
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).
)
$28,046 - $60,391  
Country: United States | Currency: USD | Updated: 25 Mar 2017 | Individuals Reporting: 106
© PayScale, Inc. @ www.payscale.com

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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 report a narrow range of specific skills. Most notably, skills in Loan Documents, Document Preparation, Loan Processing, and Commercial Loans are correlated to pay that is above average, with boosts in pay of 7 percent. Those educated in Commercial Loans tend to be well versed in Loan Documents.

Pay by Experience Level for Commercial Loan Processor

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


Experience is an important factor influencing the compensation of Commercial Loan Processors. Relatively untried employees who have fewer than five years of experience earn around $35K on average. People who have worked for five to 10 years can expect a higher median salary of $39K. The average pay reported by folks with 10 to 20 years of experience is around $44K. Survey participants who have worked for more than two decades report bringing in $56K on average.

Related Job Salaries

Key Stats for Commercial Loan Processor

Gender

Female
80 %
Male
20 %

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 27 votes.
Less than 1 year
5%
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

▲42%

▲11%

▼0%

National Average
$39,000

▼11%

Skills That Affect Commercial Loan Processor Salaries



Document Preparation
▲6%


Customer Service
▼0%

National Average
$39,000

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 27 votes.

Gender

Female
80 %
Male
20 %

Years of Experience

Less than 1 year
5%
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: 75%
vision benefits
Vision: 65%
dental benefits
None: 10%
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