What am I worth?
Get a free salary report »
What should I pay?
Pay the right way »

Commercial Loan Processor Salary

Those pursuing careers as Commercial Loan Processors in the United States may have to make do with less; average incomes for people in this area hover around only $42K per year. Total cash compensation to Commercial Loan Processors bottoms out near $27K and approaches $57K on the high end; the biggest paychecks include approximately $4K from bonuses and almost $5K from profit sharing. A large number report receiving medical coverage from their employers and more than half collect dental insurance. Women make up the vast majority of Commercial Loan Processors (88 percent) who answered the questionnaire. The majority of individuals in this role claim moderate levels of job satisfaction. The information for this rundown comes from respondents who completed PayScale's salary questionnaire.

$30,878 - $58,581
(Median)
$31K
$42K
$59K
MEDIAN: $41,946
10%
50%
90%

Add this chart to your site: 640px    300px

$12.38 - $22.36
(Median)
$12
$16
$22
MEDIAN: $15.00
10%
50%
90%

Add this chart to your site: 640px    300px

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
$30,878 - $58,581  
   
Bonus
$0.00 - $3,945  
Profit Sharing
$131.88 - $5,165  
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).
)
$27,483 - $56,751  
Country: United States | Currency: USD | Updated: 2 May 2015 | Individuals Reporting: 139
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
$12.38 - $22.36  
   
Overtime
$13.67 - $37.25  
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 - $3,945  
   
Profit Sharing
$131.88 - $5,165  
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).
)
$27,483 - $56,751  
Country: United States | Currency: USD | Updated: 2 May 2015 | Individuals Reporting: 109

Find Out Exactly What You Should Be Paid

United States (change)


Comp Managers: Start Here »

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

Jobs by Simply Hired
jobs by Indeed job search

Search for more jobs:


Survey takers who work as Commercial Loan Processors report a focused set of job skills. 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.


Folks with fewer than five years of experience take home $35K on average, and those who have worked for five to 10 years see a bigger median salary of $39K. People with 10 to 20 years of experience make an average of about $46K in this role. Survey participants with more than twenty years of experience only make around $44K on average, though; this group reports a lower median than the one claimed by mid-career individuals.

Related Job Salaries

 
ADVERTISEMENT
United States (change)

Experience Affects Commercial Loan Processor Salaries

Experienced
up arrow 17%

Late-Career
up arrow 13%

National Average
$39,000

Mid-Career
up arrow 1%

Entry-Level
up arrow 12%

Skills That Affect Commercial Loan Processor Salaries

Commercial Loans
up arrow 3%

National Average
$39,000

Loan Documents
up arrow 1%

Loan Processing
up arrow 2%

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 45 votes.

Gender

Female
88 %
Male
12 %

Years of Experience

Less than 1 year
4%
1-4 years
32%
5-9 years
22%
10-19 years
29%
20 years or more
13%

Common Health Benefits

medical benefits Medical: 85% dental benefits Dental: 69%
vision benefits Vision: 50% employee benefits None: 12%
ADVERTISEMENT