Commercial Loan Processor Salary

Pay for Commercial Loan Processors in the United States is very modest at just $42K annually. Overall incomes of Commercial Loan Processors generally bottom out at around $28K and peak near $57K; the final number can, in exceptional cases, include upwards of $5K each for bonuses and profit sharing proceeds. Geographic location is the biggest factor affecting pay for this group, followed by career length. Most report receiving medical coverage from their employers and a majority collect dental insurance. Most Commercial Loan Processors report high levels of job satisfaction. The vast majority (87 percent) of Commercial Loan Processors who took the survey are female. The data for this synopsis comes from respondents who took the PayScale salary survey.

$30,831 - $58,389
(Median)
$31K
$42K
$58K
MEDIAN: $41,918
10%
50%
90%

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$12.37 - $22.19
(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
$30,831 - $58,389  
   
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).
)
$27,889 - $56,674  
Country: United States | Currency: USD | Updated: 2 Jul 2015 | Individuals Reporting: 146
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
$12.37 - $22.19  
   
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).
)
$27,889 - $56,674  
Country: United States | Currency: USD | Updated: 2 Jul 2015 | Individuals Reporting: 110
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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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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. Many workers who know Commercial Loans also know Loan Processing.

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. Workers with less than five years' experience earn around $35K on average, and those who have five to 10 years under their belts see a higher median salary of $39K. Commercial Loan Processors see a median salary of $46K after reaching one to two decades on the job. Commercial Loan Processors who surpass 20 years on the job report pay that isn't as high as one would expect; the median compensation for this crowd sits around $48K.

Related Job Salaries

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Experience Affects Commercial Loan Processor Salaries

Late-Career
up arrow 22%

Experienced
up arrow 15%

National Average
$40,000

Mid-Career
up arrow 2%

Entry-Level
up arrow 11%

Skills That Affect Commercial Loan Processor Salaries

Commercial Loans
up arrow 3%

National Average
$40,000

Loan Processing
up arrow 2%

Loan Documents
up arrow 2%

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 41 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
29%
20 years or more
13%

Common Health Benefits

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