$47,306
Avg. Salary
$18.30
Avg. Hourly Rate

Average additional compensation:

$2,025

Bonus

$2,000

Profit Sharing

$19,500

Commission

What am I worth?
How should I pay?

The average pay for a Commercial Loan Processor is $18.30 per hour.

The average pay for a Commercial Loan Processor is $47,306 per year.

10%
$13.01
10%
$18.30
50%
$27.49
90%
90%
MEDIAN $18.30
10%
$31k
10%
$47k
50%
$65k
90%
90%
MEDIAN $47,306
$30,921 - $64,793
$31K
$47K
$65K
MEDIAN: $47,306
10%
50%
90%

Add this chart to your site: 640px    300px

$13.01 - $27.49
$13
$18
$27
MEDIAN: $18.30
10%
50%
90%

Add this chart to your site: 640px    300px

$0$64K
Salary $30,921 - $64,793
Bonus $516 - $5,068
Profit Sharing $2,000
Commission $19,500
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).
)
$29,346 - $63,214
  • Country: United States
  • Currency: USD
  • Updated: 20 Apr 2019
  • Individuals Reporting: 191
Hourly Data $0$43
Hourly Rate $13.01 - $27.49
Overtime $20.39 - $43.64
Annual Data $0$63K
Bonus $516 - $5,068
Commission $19,500
Profit Sharing $2,000
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).
)
$29,346 - $63,214
  • Country: United States
  • Currency: USD
  • Updated: 20 Apr 2019
  • Individuals Reporting: 216

Job Description for Commercial Loan Processor

Commercial loan processors are responsible for receiving and processing all incoming loans for an organization. They typically sort and organize incoming loans according to the business’s criteria and enter relevant information into the system, and they are also expected to prepare and mail disclosures as necessary.

Read More...
Commercial Loan Processor Tasks
  • Authorize funding upon verification of all documentation.
  • Order credit reports, appraisals, title insurance, and all other certifications as necessary.
  • Answer questions regarding closing requirements.
  • Maintain communication with brokers partners and closing/settlement agents with loan status.

Commercial Loan Processor Job Listings

Popular Skills for Commercial Loan Processor


Overall, survey participants reported applying a fair number of skills to their work. Most notably, skills in Loan Documents, Document Preparation, Loan Processing, and Commercial Loans are correlated to pay that is above average. Skills that are correlated to lower pay, on the other hand, include Customer Service. For most people, competency in Commercial Loans indicates knowledge of Loan Documents.

Pay by Experience Level for Commercial Loan Processor

Pay by Experience for a Commercial Loan Processor has a positive trend. An entry-level Commercial Loan Processor with less than 5 years of experience can expect to earn an average total compensation of $35,000 based on 103 salaries provided by anonymous users. Average total compensation includes tips, bonus, and overtime pay. A Commercial Loan Processor with mid-career experience which includes employees with 5 to 10 years of experience can expect to earn an average total compensation of $39,000 based on 57 salaries. An experienced Commercial Loan Processor which includes employees with 10 to 20 years of experience can expect to earn an average total compensation of $44,000 based on 58 salaries. A Commercial Loan Processor with late-career experience which includes employees with greater than 20 years of experience can expect to earn an average total compensation of $56,000 based on 27 salaries.

Commercial Loan Processor Reviews

Q: What is it like working as a Commercial Loan Processor?

Commercial Loan Processor in Baltimore:
"Not great. Parking is expensive, everything is metered and strongly enforced. Streets are in horrible condition. Constant construction going on cause gridlock at rush hour, and the streets are no better afterwards. Get taxed out the wazoo."
Pros: Not much of anything
Cons: Pretty much everything

Commercial Loan Processor in Duluth:
"Easy Commute."
Pros: The commute to work is not bad.
Cons: N/A

Commercial Loan Processor:
Great benefits! I work with unique and talented individuals. The compensation is good, probably close to average for a position of this nature. The management has shifted throughout the last couple of years but I believe they do a good job.

Related Job Salaries

Key Stats for Commercial Loan Processor

Gender

Female
85 %
Male
15 %

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 82 votes.
Less than 1 year
4%
1-4 years
34%
5-9 years
18%
10-19 years
30%
20 years or more
14%

Experience Affects Commercial Loan Processor Salaries

▲32%

▲3%

National Average
$43,000

▼8%

▼17%

Skills That Affect Commercial Loan Processor Salaries

National Average
$43,000


Document Preparation
▼1%



Customer Service
▼7%

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 82 votes.

Gender

Female
85 %
Male
15 %

Years of Experience

Less than 1 year
4%
1-4 years
34%
5-9 years
18%
10-19 years
30%
20 years or more
14%

Common Health Benefits

medical benefits
Medical: 87%
dental benefits
Dental: 78%
vision benefits
Vision: 67%
no benefits
None: 11%