Mortgage Loan Processor Salary

The average pay for a Mortgage Loan Processor is $39,593 per year. Most people move on to other jobs if they have more than 20 years' experience in this field.

$29,374 - $50,298
(Median)
$29K
$40K
$50K
MEDIAN: $39,593
10%
50%
90%

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$11.93 - $21.60
(Median)
$12
$16
$22
MEDIAN: $16.00
10%
50%
90%

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National Salary Data (?
XAll compensation data shown are gross 10th to 90th percentile ranges. Take the PayScale Survey to find out how location influences pay for this job.
)
$0$18K$36K$54K
Salary
$29,374 - $50,298  
   
Bonus
$0.00 - $9,770  
Profit Sharing
$430.00 - $10,000  
Commission
$613 - $17,664  
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).
)
$27,027 - $51,500  
Country: United States | Currency: USD | Updated: 12 Jan 2016 | Individuals Reporting: 1,109
National Hourly Rate Data (?
XAll compensation data shown are gross 10th to 90th percentile ranges. Take the PayScale Survey to find out how location influences pay for this job.
)
$0$12$24$36
Hourly Rate
$11.93 - $21.60  
   
Hourly Tips
$2.38  
Overtime
$17.64 - $33.38  
National Annualized Data (?
XAll compensation data shown are gross 10th to 90th percentile ranges. Take the PayScale Survey to find out how location influences pay for this job.
)
$0$24K$48K$72K
Bonus
$0.00 - $9,770  
   
Commission
$613 - $17,664  
Profit Sharing
$430.00 - $10,000  
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).
)
$27,027 - $51,500  
Country: United States | Currency: USD | Updated: 12 Jan 2016 | Individuals Reporting: 876
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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

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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

National Average: $38,647

Larger city markers 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
$39,000


Skills That Affect Mortgage Loan Processor Salaries

Loan Underwriting
up arrow 6%

Loan Processing
up arrow 1%

Mortgage Loans
0%

Loan Documents
0%

National Average
$39,000

Customer Service
up arrow 13%

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 251 votes.

Gender

Female
80 %
Male
20 %

Years of Experience

Less than 1 year
6%
1-4 years
39%
5-9 years
20%
10-19 years
25%
20 years or more
10%

Common Health Benefits

medical benefits
Medical: 80%
dental benefits
Dental: 70%
medical benefits
Vision: 57%
dental benefits
None: 17%
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