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Commercial Loan Processor Salary

It's impossible to make it big as a Commercial Loan Processors in the United States; the average employee scrapes together only around $41K per year. Overall cash earnings for Commercial Loan Processors stretch from $27K on the lower end to $56K near the top, and the heftiest packages can encompass around $4K from bonuses and $5K from profit sharing. Female Commercial Loan Processors far outnumber their male contemporaries among survey respondents. Medical benefits are awarded to a large number, and more than half earn dental coverage. Most people in this profession are content with their work, and moderate levels of job satisfaction are reported. The numbers in this rundown were provided by PayScale's salary survey participants.
$30,374 - $57,145
(Median)
30K
36K
41K
50K
57K
MEDIAN: $40,994
10%
25%
50%
75%
90%

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$12.17 - $23.59
(Median)
12
16
19
24
MEDIAN: $16.00
10%
50%
75%
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
$30,374 - $57,145  
   
Bonus
$0.00 - $3,973  
Profit Sharing
$132.79 - $5,129  
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).
)
$27,077 - $55,849  
Country: United States | Currency: USD | Updated: 11 Dec 2014 | Individuals Reporting: 145
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$13$26$39
Hourly Rate
$12.17 - $23.59  
   
Overtime
$17.61 - $37.54  
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$26K$52K$78K
Bonus
$0.00 - $3,973  
   
Profit Sharing
$132.79 - $5,129  
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).
)
$27,077 - $55,849  
Country: United States | Currency: USD | Updated: 11 Dec 2014 | Individuals Reporting: 110
United States (change)

Job Description for Commercial Loan Processor

  • 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.

Loan Closer Job Listings

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Commercial Loan Processors who responded to the survey report just a handful of professional skills. Commercial Loans and Loan Processing are considered valuable skills and can increase employee pay. Commercial Loans and Loan Processing are correlating skills — those who know the former usually know the latter.

Pay by Experience Level for Commercial Loan Processor

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


Those who have worked for fewer than five years take home a median salary of $35K, and workers with five to 10 years of experience earn a higher $39K on average. Commercial Loan Processors with one to two decades of relevant experience report an average salary of approximately $45K. Commercial Loan Processors who have racked up more than two decades of experience report lower incomes overall; the average sum for this crowd comes out to only $43K.

Related Job Salaries

Experience Affects Commercial Loan Processor Salaries

Experienced
up arrow 16%

Late-Career
up arrow 12%

Mid-Career
0%

National Average
$39,000

Entry-Level
up arrow 10%

Skills That Affect Commercial Loan Processor Salaries

Commercial Loans
up arrow 4%

Loan Processing
0%

National Average
$39,000

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 48 votes.

Gender

Female
87 %
Male
13 %

Years of Experience

Less than 1 year
4%
1-4 years
33%
5-9 years
24%
10-19 years
27%
20 years or more
12%

Common Health Benefits

medical benefits Medical: 85% dental benefits Dental: 70%
vision benefits Vision: 50% employee benefits None: 12%