Loan Assistant Salary

A Loan Assistant earns an average salary of $32,699 per year. Most people move on to other jobs if they have more than 20 years' experience in this career. The skills that increase pay for this job the most are Commercial Loans and Consumer Loans.

$24,046 - $45,072
(Median)
$24K
$33K
$45K
MEDIAN: $32,698
10%
50%
90%

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$10.57 - $18.30
(Median)
$11
$13
$18
MEDIAN: $13.00
10%
50%
90%

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National Salary Data (?
XAll compensation data shown are gross, national 10th to 90th percentile ranges. Pay can vary greatly by location. To view local data, take the PayScale survey.
)
$0$16K$32K$48K
Salary
$24,046 - $45,072  
   
Bonus
$0.00 - $4,979  
Profit Sharing
$706 - $3,052  
Commission
$3,888 - $11,792  
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).
)
$23,538 - $43,655  
Country: United States | Currency: USD | Updated: 31 Mar 2015 | Individuals Reporting: 195
National Hourly Rate Data (?
XAll compensation data shown are gross, national 10th to 90th percentile ranges. Pay can vary greatly by location. To view local data, take the PayScale survey.
)
$0$9$18$27
Hourly Rate
$10.57 - $18.30  
   
Overtime
$14.83 - $26.98  
National Annualized Data (?
XAll compensation data shown are gross, national 10th to 90th percentile ranges. Pay can vary greatly by location. To view local data, take the PayScale survey.
)
$0$18K$36K$54K
Bonus
$0.00 - $4,979  
   
Commission
$3,888 - $11,792  
Profit Sharing
$706 - $3,052  
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).
)
$23,538 - $43,655  
Country: United States | Currency: USD | Updated: 31 Mar 2015 | Individuals Reporting: 188

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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.

Related Job Salaries

United States (change)

Experience Affects Loan Assistant Salaries

Late-Career
up arrow 18%



National Average
$31,000


Skills That Affect Loan Assistant Salaries

Commercial Loans
up arrow 31%

Consumer Loans
up arrow 24%


Loan Processing
up arrow 3%

Mortgage Loans
up arrow 3%

Customer Service
up arrow 1%

National Average
$31,000

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 82 votes.

Gender

Female
88 %
Male
12 %

Years of Experience

Less than 1 year
7%
1-4 years
45%
5-9 years
21%
10-19 years
20%
20 years or more
8%

Common Health Benefits

medical benefits Medical: 80% dental benefits Dental: 66%
vision benefits Vision: 46% employee benefits None: 16%