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 annually. Overall cash earnings for Commercial Loan Processors vary widely between $28K and $56K; for a few high rollers, the final number can encompass upwards of $5K each from bonuses and profit sharing proceeds. Geographic location is the biggest factor affecting pay for this group, followed by career length. The vast majority (87 percent) of Commercial Loan Processors who took the survey are female. Work is enjoyable for Commercial Loan Processors, who typically claim high levels of job satisfaction. Medical benefits are awarded to most, and a majority earn dental coverage. The information for this rundown comes from respondents who completed PayScale's salary questionnaire.

$30,618 - $58,333

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$12.43 - $22.23

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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
$30,618 - $58,333  
   
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).
)
$27,722 - $56,427  
Country: United States | Currency: USD | Updated: 18 Jul 2015 | Individuals Reporting: 147
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
$12.43 - $22.23  
   
Overtime
$13.67 - $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 - $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).
)
$27,722 - $56,427  
Country: United States | Currency: USD | Updated: 18 Jul 2015 | Individuals Reporting: 116
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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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Job skills reported by Commercial Loan Processors are limited. 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. 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. Commercial Loan Processors see a median salary of $45K after reaching one to two decades on the job. Commercial Loan Processors who have stuck around for more than two decades see earnings that are only slightly higher than those of folks who have worked for 10 to 20 years; the more senior group makes around $48K on average.

Related Job Salaries

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Experience Affects Commercial Loan Processor Salaries

Late-Career
up arrow 22%

Experienced
up arrow 14%

National Average
$39,000

Mid-Career
up arrow 2%

Entry-Level
up arrow 11%

Skills That Affect Commercial Loan Processor Salaries

Commercial Loans
up arrow 2%

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 40 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: 70%
vision benefits Vision: 52% employee benefits None: 11%
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