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 $43K per year. Overall incomes of Commercial Loan Processors generally bottom out at around $29K and peak near $57K; the final number can, in exceptional cases, include upwards of $5K each for bonuses and profit sharing proceeds. Residence and tenure each impact pay for this group, with the former having the largest influence. Job satisfaction is high and work is enjoyable for most Commercial Loan Processors. Commercial Loan Processors who responded to the questionnaire are largely women, dominating at 86 percent. Medical benefits are awarded to a large number, and the larger part earn dental coverage. This snapshot results from replies to PayScale's salary survey.

$31,587 - $58,884
(Median)
$32K
$43K
$59K
MEDIAN: $42,614
10%
50%
90%

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$12.67 - $22.09
(Median)
$13
$17
$22
MEDIAN: $16.00
10%
50%
90%

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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$20K$40K$60K
Salary
$31,587 - $58,884  
   
Bonus
$0.00 - $5,022  
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).
)
$28,746 - $57,170  
Country: United States | Currency: USD | Updated: 12 Jan 2016 | Individuals Reporting: 160
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$13$26$39
Hourly Rate
$12.67 - $22.09  
   
Overtime
$18.88 - $37.25  
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$26K$52K$78K
Bonus
$0.00 - $5,022  
   
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).
)
$28,746 - $57,170  
Country: United States | Currency: USD | Updated: 12 Jan 2016 | Individuals Reporting: 124
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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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Popular Skills for Commercial Loan Processor


Commercial Loan Processors only report a few specific skills. Most notably, skills in Document Preparation, Loan Processing, Loan Documents, and Commercial Loans are correlated to pay that is above average. It is often found that people who know Commercial Loans are also skilled 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 does not seem to be a strong driver of pay increase in this role. Commercial Loan Processors in the early stages of their careers take home approximately $36K on average. The average for people in the five-to-10 year group is only a little larger at $38K. Commercial Loan Processors claiming one to two decades of experience make an estimated median of $45K. After two decades in the workforce, the average Commercial Loan Processor generally earns more than ever; median pay for this group is estimated at $49K.

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Experience Affects Commercial Loan Processor Salaries

Late-Career
up arrow 24%

Experienced
up arrow 13%

National Average
$40,000

Mid-Career
up arrow 4%

Entry-Level
up arrow 10%

Skills That Affect Commercial Loan Processor Salaries

Document Preparation
up arrow 6%

Commercial Loans
up arrow 1%

Loan Processing
up arrow 1%

Loan Documents
up arrow 1%

National Average
$40,000

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 36 votes.

Gender

Female
86 %
Male
14 %

Years of Experience

Less than 1 year
4%
1-4 years
30%
5-9 years
21%
10-19 years
31%
20 years or more
14%

Common Health Benefits

medical benefits
Medical: 86%
dental benefits
Dental: 69%
medical benefits
Vision: 55%
dental benefits
None: 11%
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