Loan Assistant Salary

A Loan Assistant earns an average wage of $15.07 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.

$26,562 - $55,692
$27K
$36K
$56K
MEDIAN: $36,312
10%
50%
90%

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$11.67 - $20.32
$12
$15
$20
MEDIAN: $15.13
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
$26,562 - $55,692  
   
Bonus
$456.15 - $6,411  
Profit Sharing
$1,300  
Commission
$14,740  
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).
)
$25,387 - $49,868  
Country: United States | Currency: USD | Updated: 4 May 2017 | Individuals Reporting: 117
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
$11.67 - $20.32  
   
Overtime
$17.11 - $32.62  
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
$456.15 - $6,411  
   
Commission
$14,740  
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).
)
$25,387 - $49,868  
Country: United States | Currency: USD | Updated: 4 May 2017 | Individuals Reporting: 168

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United States (change)

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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

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

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

Pay by Experience for a Loan Assistant has a positive trend. An entry-level Loan Assistant with less than 5 years of experience can expect to earn an average total compensation of $31,000 based on 178 salaries provided by anonymous users. Average total compensation includes tips, bonus, and overtime pay. A Loan Assistant with mid-career experience which includes employees with 5 to 10 years of experience can expect to earn an average total compensation of $36,000 based on 65 salaries. An experienced Loan Assistant which includes employees with 10 to 20 years of experience can expect to earn an average total compensation of $41,000 based on 71 salaries. A Loan Assistant with late-career experience which includes employees with greater than 20 years of experience can expect to earn an average total compensation of $41,000 based on 23 salaries.

Loan Assistant Reviews

Q: 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

Key Stats for Loan Assistant

Gender

Female
89 %
Male
11 %

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 33 votes.
Less than 1 year
8%
1-4 years
46%
5-9 years
17%
10-19 years
20%
20 years or more
8%
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Location:
Years in Fields/Career:
United States (change)

Experience Affects Loan Assistant Salaries

▲20%

▲18%

▲4%

National Average
$35,000

▼10%

Skills That Affect Loan Assistant Salaries

Commercial Loans
▲25%

Consumer Loans
▲2%



National Average
$35,000

Customer Service
▼1%

Mortgage Loans
▼11%

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 33 votes.

Gender

Female
89 %
Male
11 %

Years of Experience

Less than 1 year
8%
1-4 years
46%
5-9 years
17%
10-19 years
20%
20 years or more
8%

Common Health Benefits

medical benefits
Medical: 77%
dental benefits
Dental: 58%
vision benefits
Vision: 45%
no benefits
None: 21%
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