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Mortgage Loan Processor Salary

The average pay for a Mortgage Loan Processor is $38,741 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.

$28,454 - $49,586
(Median)
$28K
$39K
$50K
MEDIAN: $38,740
10%
50%
90%

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$11.54 - $20.87
(Median)
$12
$16
$21
MEDIAN: $15.00
10%
50%
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
$28,454 - $49,586  
   
Bonus
$0.00 - $8,845  
Profit Sharing
$430.00 - $5,896  
Commission
$500 - $13,500  
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).
)
$26,320 - $50,353  
Country: United States | Currency: USD | Updated: 16 May 2015 | Individuals Reporting: 1,021
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
$11.54 - $20.87  
   
Overtime
$15.76 - $32.47  
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 - $8,845  
   
Commission
$500 - $13,500  
Profit Sharing
$430.00 - $5,896  
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).
)
$26,320 - $50,353  
Country: United States | Currency: USD | Updated: 16 May 2015 | Individuals Reporting: 789
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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

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
$38,000


Skills That Affect Mortgage Loan Processor Salaries

Loan Underwriting
up arrow 7%

Loan Processing
up arrow 3%

Loan Documents
up arrow 3%

Mortgage Loans
up arrow 2%

National Average
$38,000

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 255 votes.

Gender

Female
81 %
Male
19 %

Years of Experience

Less than 1 year
6%
1-4 years
40%
5-9 years
21%
10-19 years
23%
20 years or more
10%

Common Health Benefits

medical benefits Medical: 79% dental benefits Dental: 68%
vision benefits Vision: 55% employee benefits None: 18%
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