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Mortgage Loan Processor Salary (United States)

The average pay for a Mortgage Loan Processor is $37,665 per year. Most people move on to other jobs if they have more than 20 years' experience in this career. 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 Processor Salary (?
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.
)
$27,131 - $49,164
(Median)
27K
32K
38K
43K
49K
MEDIAN: $37,664
10%
25%
50%
75%
90%
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Mortgage Loan Processor Salary (?
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.
)
$11.22 - $20.46
(Median)
11
13
15
18
20
MEDIAN: $15.00
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$17K$34K$51K
Salary
$27,131 - $49,164  
   
Bonus
$0.00 - $8,068  
Profit Sharing
$590 - $7,400  
Commission
$513 - $12,122  
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).
)
$25,547 - $49,733  
Country: United States | Currency: USD | Updated: 11 Dec 2014 | Individuals Reporting: 991
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
$11.22 - $20.46  
   
Overtime
$15.44 - $31.86  
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 - $8,068  
   
Commission
$513 - $12,122  
Profit Sharing
$590 - $7,400  
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).
)
$25,547 - $49,733  
Country: United States | Currency: USD | Updated: 11 Dec 2014 | Individuals Reporting: 796
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Location:
Years in Field/Career:
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Job Description for Mortgage Loan Processor

  • Prepare loan request papers and related documents then forward to appraisal department.
  • Review loan documents and complete transactions between loan establishment, borrowers, and sellers upon approval of loan.
  • Interview loan applicants, investigate applicants' backgrounds and verify references.

Common Career Paths for Mortgage Loan Processor

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Loan Processor Job Listings

Search for more jobs:
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Popular Employer Salaries for Mortgage Loan Processor

Popular Skills for Mortgage Loan Processor

Pay by Experience Level for Mortgage Loan Processor

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

Pay Difference By Location

up arrow 16%
up arrow 12%
Tampa
up arrow 10%
Chicago
up arrow 10%
Houston
up arrow 9%
up arrow 8%
up arrow 6%
Columbus
up arrow 3%
Minneapolis
0%
National Average
$37,000
Oklahoma City
up arrow 1%
Cleveland
up arrow 2%
St. Louis
up arrow 8%
Larger circles over a city indicate a job is popular in that location.

Mortgage Loan Processor Reviews

What is it like working as a Mortgage Loan Processor?
Mortgage Loan Processor in Maitland:
"Busy, Never Boring, Healthy Stress."
Pros: The challenges that make the workdays fly by, the atmosphere, working among intelligent people (mostly). The job never gets boring and I love overcoming the sometimes seemingly impossible obstacles.
Cons: The fight to overcome said obstacles.

Related Job Salaries

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Experience Affects Mortgage Loan Processor Salaries

National Average
$37,000

Skills That Affect Mortgage Loan Processor Salaries

Loan Underwriting
up arrow 9%
Mortgage Loans
up arrow 3%
National Average
$37,000

Job Satisfaction

Highly satisfied Image
Highly satisfied
Rated 4 out of 5 based on 259 votes.

Gender

Female
80%
female alumni
 
Male
20%
male alumni

Years of Experience

Less than 1 year
6%
1-4 years
41%
5-9 years
22%
10-19 years
22%
20 years or more
8%

Common Health Benefits

medical benefits Medical: 78% dental benefits Dental: 67%
vision benefits Vision: 53% employee benefits None: 20%