Mortgage Loan Processor Salary (United States)

A Mortgage Loan Processor earns an average salary of $37,154 per year. Most people move on to other jobs if they have more than 20 years' experience in this field. A skill in Loan Underwriting is associated with high pay for this job. For the first five to ten years in this position, pay increases somewhat, but any additional experience does not have a big effect on pay.
Mortgage Loan Processor 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.
)
$26,770 - $48,672
(Median)
27K
31K
37K
43K
49K
MEDIAN: $37,153
10%
25%
50%
75%
90%
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Mortgage Loan Processor 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.
)
$11.02 - $20.37
(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
$26,770 - $48,672  
   
Bonus
$0.00 - $7,934  
Profit Sharing
$484.79 - $6,183  
Commission
$730 - $11,693  
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).
)
$25,303 - $49,255  
PayScale
Country: United States | Currency: USD | Updated: 5 Aug 2014 | Individuals Reporting: 1,892
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
$11.02 - $20.37  
   
Overtime
$15.46 - $31.51  
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 - $7,934  
   
Commission
$730 - $11,693  
Profit Sharing
$484.79 - $6,183  
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).
)
$25,303 - $49,255  
PayScale
Country: United States | Currency: USD | Updated: 5 Aug 2014 | Individuals Reporting: 1,892
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Location:
United States (change)
Years in Field/Career:

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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Mortgage Loan Processor Job Listings

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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 14%
up arrow 13%
Tampa
up arrow 13%
Chicago
up arrow 11%
up arrow 10%
Houston
up arrow 10%
up arrow 8%
Columbus
up arrow 6%
Oklahoma City
up arrow 3%
Minneapolis
0%
Charlotte
0%
National Average
$36,000
San Antonio
up arrow 3%
Pittsburgh
up arrow 5%
St. Louis
up arrow 9%
Larger circles over a city indicate a job is popular in that location.

Related Job Salaries

Experience Affects Mortgage Loan Processor Salaries

National Average
$36,000

Skills That Affect Mortgage Loan Processor Salaries

Loan Underwriting
up arrow 11%
Mortgage Loans
up arrow 4%
National Average
$36,000

Job Satisfaction

Highly satisfied Image
Highly satisfied
Rated 4 out of 5 based on 288 votes.

Gender

Female
80%
female alumni
 
Male
20%
male alumni

Years of Experience

Less than 1 year
6%
1-4 years
42%
5-9 years
23%
10-19 years
21%
20 years or more
8%

Common Health Benefits

medical benefits Medical: 77% dental benefits Dental: 65%
vision benefits Vision: 50% employee benefits None: 21%
Find Out Exactly What You Should Be Paid
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