Commercial Loan Processor Salary

Commercial Loan Processors in the United States may have to scrimp and save; the median compensation is $43K per year. Including potential for bonuses and profit sharing, each hitting highs of $5K, total cash payment to Commercial Loan Processors can bottom out at $29K or peak near $57K. Residence and experience level each impact pay for this group, with the former having the largest influence. The vast majority of Commercial Loan Processors (86 percent) who participated in the survey are women. For the most part, Commercial Loan Processors enjoy their work and report high levels of job satisfaction. Medical benefits are awarded to a large number, and a majority earn dental coverage. Participants in PayScale's salary questionnaire provided the particulars of this report.

$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


Survey results show that Commercial Loan Processors typically report just a few professional 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.


More years of relevant experience do not necessarily translate to higher paychecks. During their first five years in the workforce, individuals in this position earn $36K on average. Survey participants with five to 10 years under their belts see an only a slightly bigger average of $38K. After working for 10 to 20 years, Commercial Loan Processors make a median salary of $45K. Ultimately, more time spent in the workforce does seem to translate to bigger paychecks; seasoned veterans with more than 20 years of experience report a median income of $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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