The average salary for a Loan Closer is $39,986 per year. The highest paying skills associated with this job are Commercial Loans and Document Preparation. Pay for this job does not change much by experience, with the most experienced earning only a bit more than the least. Most people move on to other jobs if they have more than 20 years' experience in this career.
Loan Closer Total Pay (?
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.
)
$29,551 - $56,614
(Median)
30K
34K
40K
47K
57K
MEDIAN: $39,985
10%
25%
50%
75%
90%
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Loan Closer Total Pay (?
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.
)
$12.74 - $21.39
(Median)
13
17
19
21
MEDIAN: $16.00
10%
50%
75%
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$19K$38K$57K
Salary
$29,551 - $56,614  
   
Bonus
$0.00 - $5,789  
Profit Sharing
$983 - $1,857  
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).
)
$28,741 - $53,504  
PayScale
Country: United States | Currency: USD | Updated: 23 Apr 2014 | Individuals Reporting: 329
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$11$22$33
Hourly Rate
$12.74 - $21.39  
   
Overtime
$15.91 - $31.07  
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$22K$44K$66K
Bonus
$0.00 - $5,789  
   
Profit Sharing
$983 - $1,857  
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).
)
$28,741 - $53,504  
PayScale
Country: United States | Currency: USD | Updated: 23 Apr 2014 | Individuals Reporting: 329
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Loan Closer Job Listings

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Job Description for Loan Closer
  • 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.
Pay by Experience Level for Loan Closer
Median of all compensation (including tips, bonus, and overtime) by years of experience.
Pay Difference By Location
Chicago
up arrow 18%
National Average
$39,000
Houston
up arrow 4%
Larger circles over a city indicate a job is popular in that location.
Related Job Salaries

Experience Affects Loan Closer Salaries

Late-Career
up arrow 17%
Experienced
up arrow 6%
Mid-Career
up arrow 2%
National Average
$39,000
Entry-Level
up arrow 7%

Skills That Affect Loan Closer Salaries

Commercial Loans
up arrow 19%
Document Preparation
up arrow 13%
Loan Documents
up arrow 6%
National Average
$39,000
Loan Processing
up arrow 7%
Job Satisfaction
Highly satisfied Image
Highly satisfied
Rated 4 out of 5 based on 43 votes.
Gender
Female
83%
female alumni
 
Male
17%
male alumni
Years of Experience
Less than 1 year
5%
1-4 years
30%
5-9 years
31%
10-19 years
23%
20 years or more
11%
Common Health Benefits
medical benefits Medical: 81% dental benefits Dental: 72%
vision benefits Vision: 48% employee benefits None: 16%
Find Out Exactly What You Should Be Paid
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