The average hourly pay for a Commercial Loan Processor with Commercial Loans skills is $18.84.
Is Commercial Loan Processor your job title? Get a personalized salary report!
$13 - $28
$587 - $5,020
$1,164 - $2,056
$0 - $19,500
$30,745 - $64,674
Your Market Worth Over Time
How has your pay changed over time for your market? Find out by taking our salary quiz.
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. Commercial loan processors may assist lending officers and underwriters with any orders, confirmations, and file requirements that may arise, as well as the processing of withdrawn …Read more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.
Explore the most common career paths for Commercial Loan Processor. Thickness and color of lines indicates how common a path is.
More common (> 20%)
Somewhat common (8 - 20%)
Less common (< 8%)
Commercial Loan Processor Job Listings
Popular Skills for Commercial Loan Processor
Avg. Hourly Rate
Skills in Loan Processing, Loan Documents, Oral / Verbal Communication, Microsoft Office and Data Processing are correlated to pay that is above average.
Pay by Experience Level for Commercial Loan Processor
An early career Commercial Loan Processor with 1-4 years of experience earns an average total compensation (includes tips, bonus, and overtime pay) of $16.46 based on 92 salaries. A mid-career Commercial Loan Processor with 5-9 years of experience earns an average total compensation of $18.65 based on 60 salaries. An experienced Commercial Loan Processor with 10-19 years of experience earns an average total compensation of $20.37 based on 88 salaries. In their late career (20 years and higher), employees earn an average total compensation of $26.
Pay Difference by Location
Learn more about cost of living by city.
Employees with Commercial Loan Processor in their job title in San Diego, California earn an average of 48.6% more than the national average. These job titles also find higher than average salaries in Seattle, Washington (45.2% more) and Chicago, Illinois (10.9% more). The lowest salaries can be found in Indianapolis, Indiana (11.1% less).
Years of Experience
This data is based on 280 survey responses.
Related Job Salaries
$11 - $21
$12 - $25
$8 - $12
$8 - $14
$12 - $29
$16 - $42
$11 - $19
$10 - $22