A Loan Assistant earns an average wage of $14.66 per hour. Most people move on to other jobs if they have more than 20 years' experience in this career. A skill in Commercial Loans is associated with high pay for this job.

$26,040 - $54,440
(Median)
$26K
$37K
$54K
MEDIAN: $36,540
10%
50%
90%

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$11.12 - $20.40
(Median)
$11
$15
$20
MEDIAN: $14.00
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$19K$38K$57K
Salary
$26,040 - $54,440  
   
Bonus
$425.00 - $12,000  
Profit Sharing
$1,300  
Commission
$5,000  
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).
)
$24,739 - $49,711  
Country: United States | Currency: USD | Updated: 28 Oct 2016 | Individuals Reporting: 137
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$11$22$33
Hourly Rate
$11.12 - $20.40  
   
Overtime
$17.51 - $32.05  
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$22K$44K$66K
Bonus
$425.00 - $12,000  
   
Commission
$5,000  
Profit Sharing
$1,300  
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).
)
$24,739 - $49,711  
Country: United States | Currency: USD | Updated: 28 Oct 2016 | Individuals Reporting: 183
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Job Description for Loan Assistant

A loan assistant generally works at a bank or other lending institution. They manage, update and correct data related to new loan applications. Typically, the loan assistant uses loan software to determine borrower approval, but they must also have a keen grasp of general financial practices and methods. Loan assistants often work with loan processors to review borrower files, perform various support and administrative tasks, and prepare and distribute marketing materials. They also work closely with borrowers to obtain and prepare accurate cost estimates, manage the loan process, and ensure timely and correct documentation for both the borrower and the lending institution.

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Loan Assistant 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


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Loan Assistant Job Listings

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Popular Skills for Loan Assistant

Pay by Experience Level for Loan Assistant

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

Loan Assistant Reviews

What is it like working as a Loan Assistant?

Loan Assistant in Rice Lake:
"Fast paced."
Pros: Doing a lot of different things every day, no two days are alike, I have many different jobs that I have to do.
Cons: Sometimes it can be very stressfull.

Related Job Salaries

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Experience Affects Loan Assistant Salaries




National Average
$34,000


Skills That Affect Loan Assistant Salaries

Commercial Loans
up arrow 26%

Consumer Loans
up arrow 4%

Loan Documents
0%

National Average
$34,000

Loan Processing
up arrow 1%

Customer Service
up arrow 3%

Mortgage Loans
up arrow 10%

Job Satisfaction

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

Gender

Female
87 %
Male
13 %

Years of Experience

Less than 1 year
7%
1-4 years
44%
5-9 years
16%
10-19 years
24%
20 years or more
8%

Common Health Benefits

medical benefits
Medical: 78%
dental benefits
Dental: 62%
medical benefits
Vision: 46%
dental benefits
None: 18%
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