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 $42K annually. With some bonuses and profit sharing proceeds approaching $5K each, total incomes of Commercial Loan Processors generally range from $27K to $56K depending on individual performance. Location is the biggest factor affecting pay for this group, followed by tenure. Most report receiving medical coverage from their employers and the greater part collect dental insurance. Among survey respondents, women are more common than men; 87 percent of Commercial Loan Processors are female. The majority of Commercial Loan Processors claim high levels of job satisfaction. The information for this rundown comes from respondents who completed PayScale's salary questionnaire.

$30,783 - $57,933
(Median)
$31K
$42K
$58K
MEDIAN: $41,918
10%
50%
90%

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$12.28 - $22.09
(Median)
$12
$16
$22
MEDIAN: $16.00
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
$30,783 - $57,933  
   
Bonus
$0.00 - $4,919  
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).
)
$27,488 - $56,328  
Country: United States | Currency: USD | Updated: 20 Jun 2015 | Individuals Reporting: 144
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
$12.28 - $22.09  
   
Overtime
$13.49 - $37.45  
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 - $4,919  
   
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).
)
$27,488 - $56,328  
Country: United States | Currency: USD | Updated: 20 Jun 2015 | Individuals Reporting: 112
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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.

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Professional skills reported by Commercial Loan Processors are few in number. Those who have experience with Commercial Loans, Loan Documents, and Loan Processing can expect to be compensated well for these skills. Those with knowledge of Commercial Loans tend to be skilled in Loan Processing as well.

Pay by Experience Level for Commercial Loan Processor

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


Commercial Loan Processors with a lot of experience do not necessarily enjoy more money. Relatively untried employees who have less than five years' experience have a median salary of $35K. Those who have been around for five to 10 years can expect to take home more — $39K on average. Commercial Loan Processors claiming one to two decades of experience make an estimated median of $46K. Respondents who claim more than 20 years of experience may encounter pay that doesn't quite reflect their extensive experience; these veterans report a median income of around $48K.

Related Job Salaries

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Experience Affects Commercial Loan Processor Salaries

Late-Career
up arrow 22%

Experienced
up arrow 16%

National Average
$39,000

Mid-Career
up arrow 2%

Entry-Level
up arrow 12%

Skills That Affect Commercial Loan Processor Salaries

Commercial Loans
up arrow 3%

National Average
$39,000

Loan Processing
up arrow 2%

Loan Documents
up arrow 2%

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 42 votes.

Gender

Female
87 %
Male
13 %

Years of Experience

Less than 1 year
4%
1-4 years
32%
5-9 years
22%
10-19 years
28%
20 years or more
14%

Common Health Benefits

medical benefits Medical: 86% dental benefits Dental: 69%
vision benefits Vision: 52% employee benefits None: 11%
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