Mortgage Loan Closer Salary (United States)

A Mortgage Loan Closer earns an average salary of $40,405 per year. For the first five to ten years in this position, salary increases somewhat, but any additional experience does not have a big effect on pay.
Mortgage 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.
)
$30,910 - $51,248
(Median)
31K
35K
40K
45K
51K
MEDIAN: $40,404
10%
25%
50%
75%
90%
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Mortgage 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.
)
$12.90 - $23.37
(Median)
13
15
18
21
23
MEDIAN: $18.00
10%
25%
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$18K$36K$54K
Salary
$30,910 - $51,248  
   
Bonus
$0.00 - $6,113  
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).
)
$29,807 - $53,567  
PayScale
Country: United States | Currency: USD | Updated: 11 Jun 2014 | Individuals Reporting: 450
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$13$26$39
Hourly Rate
$12.90 - $23.37  
   
Overtime
$18.20 - $36.72  
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$26K$52K$78K
Bonus
$0.00 - $6,113  
   
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).
)
$29,807 - $53,567  
PayScale
Country: United States | Currency: USD | Updated: 11 Jun 2014 | Individuals Reporting: 450
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Job Description for Mortgage Loan Closer
Loan closers gathers all documentation needed to process loans and ensures that all paperwork is processed appropriately. These professionals makes sure that any necessary information is verified in accordance with state and federal regulations and that all paperwork is complete. The loan closer’s primary responsibility is to ensure that all loan-related paperwork such as deeds of trust, poverty insurance papers, and title commitments are properly processed through the appropriate authorities. They are in charge of scheduling the time and location for the closing for any loans they process, and they ensure that all necessary parties are present; they also confirm that all of the conditions set for the loan have been met. Other duties performed by the loan closer include answering their organization’s telephone, responding to email queries, and greeting customers.
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Mortgage Loan Closer Tasks
  • 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.
Common Career Paths for Mortgage Loan Closer

Mortgage Loan Closer Job Listings

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Popular Employer Salaries for Mortgage Loan Closer
Pay by Experience Level for Mortgage Loan Closer
Median of all compensation (including tips, bonus, and overtime) by years of experience.
Pay Difference By Location
Tampa
up arrow 18%
Denver
up arrow 13%
Dallas
up arrow 8%
Phoenix
up arrow 8%
Houston
up arrow 7%
Chicago
up arrow 2%
National Average
$41,000
Richmond
up arrow 4%
Atlanta
up arrow 4%
Orlando
up arrow 6%
Jacksonville
up arrow 10%
Larger circles over a city indicate a job is popular in that location.
Related Job Salaries

Experience Affects Mortgage Loan Closer Salaries

Late-Career
up arrow 12%
Experienced
up arrow 7%
Mid-Career
up arrow 2%
National Average
$41,000
Entry-Level
up arrow 8%

Skills That Affect Mortgage Loan Closer Salaries

Loan Documents
up arrow 3%
Mortgage Loans
up arrow 2%
National Average
$41,000
Customer Service
up arrow 1%
Job Satisfaction
Highly satisfied Image
Highly satisfied
Rated 4 out of 5 based on 71 votes.
Gender
Female
83%
female alumni
 
Male
17%
male alumni
Years of Experience
Less than 1 year
2%
1-4 years
33%
5-9 years
22%
10-19 years
28%
20 years or more
14%
Common Health Benefits
medical benefits Medical: 80% dental benefits Dental: 72%
vision benefits Vision: 56% employee benefits None: 17%
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