A Loan Assistant, Commercial earns an average wage of $18.24 per hour. Most people with this job move on to other positions after 20 years in this field.

$32,438 - $60,358
(Median)
$32K
$45K
$60K
MEDIAN: $45,457
10%
50%
90%

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$13.24 - $26.87
(Median)
$13
$18
$27
MEDIAN: $18.00
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$21K$42K$63K
Salary
$32,438 - $60,358  
   
Bonus
$481.77 - $5,667  
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).
)
$29,326 - $59,681  
Country: United States | Currency: USD | Updated: 28 Oct 2016 | Individuals Reporting: 61
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
$13.24 - $26.87  
   
Overtime
$18.87 - $36.77  
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
$481.77 - $5,667  
   
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).
)
$29,326 - $59,681  
Country: United States | Currency: USD | Updated: 28 Oct 2016 | Individuals Reporting: 80
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Job Description for Loan Assistant, Commercial

Commercial loan assistants work under the guidance of loan officers and organize commercial loan application portfolios. They are typically present from loan origination to closing to gather all necessary forms and documents and follow up with clients to obtain further documentation, and they may verify, authenticate, and process these loan documents. They may also work to obtain exceptions when appropriate from both inside and outside parties.

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Loan Assistant, Commercial Tasks

  • Facilitate contract signings and closings, complying with all applicable laws.
  • Assist loan officers and collections with creating, collecting, and processing paperwork.
  • Complete due diligence and basic paperwork on loan applications, contracts and renewals.
  • Return phone calls and answer questions, including about the status of loans.

Common Career Paths for Loan Assistant, Commercial


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Popular Skills for Loan Assistant, Commercial

Pay by Experience Level for Loan Assistant, Commercial

Median of all compensation (including tips, bonus, and overtime) by years of experience.

Related Job Salaries

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Experience Affects Loan Assistant, Commercial Salaries




National Average
$42,000


Skills That Affect Loan Assistant, Commercial Salaries



Commercial Loans
up arrow 4%

National Average
$42,000

Customer Service
up arrow 14%

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 25 votes.

Gender

Female
89 %
Male
11 %

Years of Experience

Less than 1 year
2%
1-4 years
35%
5-9 years
16%
10-19 years
35%
20 years or more
11%

Common Health Benefits

medical benefits
Medical: 84%
dental benefits
Dental: 71%
medical benefits
Vision: 61%
dental benefits
None: 14%
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