$35,957
Avg. Salary
$15.26
Avg. Hourly Rate

Average additional compensation:

$1,800

Bonus

$1,300

Profit Sharing

$7,000

Commission

What am I worth?
How should I pay?

The average pay for a Loan Assistant is $15.26 per hour.

The average pay for a Loan Assistant is $35,957 per year.

10%
$11.52
10%
$15.26
50%
$20.46
90%
90%
MEDIAN $15.26
10%
$27k
10%
$36k
50%
$54k
90%
90%
MEDIAN $35,957
$26,906 - $53,965
$27K
$36K
$54K
MEDIAN: $35,957
10%
50%
90%

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$11.52 - $20.46
$12
$15
$20
MEDIAN: $15.26
10%
50%
90%

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$0$53K
Salary $26,906 - $53,965
Bonus $485 - $8,000
Profit Sharing $355 - $14,795
Commission $7,000
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).
)
$25,349 - $49,451
  • Country: United States
  • Currency: USD
  • Updated: 12 Mar 2019
  • Individuals Reporting: 183
Hourly Data $0$32
Hourly Rate $11.52 - $20.46
Overtime $14.88 - $32.15
Annual Data $0$49K
Bonus $485 - $8,000
Commission $7,000
Profit Sharing $355 - $14,795
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).
)
$25,349 - $49,451
  • Country: United States
  • Currency: USD
  • Updated: 12 Mar 2019
  • Individuals Reporting: 288

Job Description for Loan Assistant

A loan assistant generally works at a bank or other lending institution. They manage, update and correct data related to new loan applications. Typically, the loan assistant uses loan software to determine borrower approval, but they must also have a keen grasp of general financial practices and methods. Loan assistants often work with loan processors to review borrower files, perform various support and administrative tasks, and prepare and distribute marketing materials. They also work closely with borrowers to obtain and prepare accurate cost estimates, manage the loan process, and ensure timely and correct documentation for both the borrower and the lending institution.

Read More...
Loan Assistant Tasks
  • Complete due diligence and basic paperwork on loan applications, contracts and renewals.
  • Return phone calls and answer questions, including about the status of loans.
  • Facilitate contract signings and closings, complying with all applicable laws.
  • Assist loan officers and collections with creating, collecting, and processing paperwork.

Common Career Paths for Loan Assistant


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Loan Assistant Job Listings

Popular Skills for Loan Assistant

Pay by Experience Level for Loan Assistant

Pay by Experience for a Loan Assistant has a positive trend. An entry-level Loan Assistant with less than 5 years of experience can expect to earn an average total compensation of $31,000 based on 178 salaries provided by anonymous users. Average total compensation includes tips, bonus, and overtime pay. A Loan Assistant with mid-career experience which includes employees with 5 to 10 years of experience can expect to earn an average total compensation of $36,000 based on 65 salaries. An experienced Loan Assistant which includes employees with 10 to 20 years of experience can expect to earn an average total compensation of $41,000 based on 71 salaries. A Loan Assistant with late-career experience which includes employees with greater than 20 years of experience can expect to earn an average total compensation of $41,000 based on 23 salaries.

Loan Assistant Reviews

Q: What is it like working as a Loan Assistant?

Loan Assistant in Rice Lake:
"Fast paced."
Pros: Doing a lot of different things every day, no two days are alike, I have many different jobs that I have to do.
Cons: Sometimes it can be very stressfull.

Loan Assistant in Oxford:
"Its a bad idea to learn too many skills."
Acquiring KSA's over multiple job descriptions is great when you are trying to decide where you fit within the corporate culture, however once you figure this out, don't be scared to step up and tell your superiors. More than likely, they will respect you more for taking this brave step. Especially, if you are a female in the south.

Loan Assistant in Greenville:
"Dead end."
Make sure you are constantly being trained for promotability.

Related Job Salaries

Key Stats for Loan Assistant

Gender

Female
92 %
Male
8 %

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 70 votes.
Less than 1 year
10%
1-4 years
47%
5-9 years
15%
10-19 years
22%
20 years or more
7%

Experience Affects Loan Assistant Salaries

▲20%

▲18%

▲5%

National Average
$35,000

▼10%

Skills That Affect Loan Assistant Salaries

Commercial Loans
▲25%

Consumer Loans
▲3%



Customer Service
▼0%

National Average
$35,000

Mortgage Loans
▼10%

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 70 votes.

Gender

Female
92 %
Male
8 %

Years of Experience

Less than 1 year
10%
1-4 years
47%
5-9 years
15%
10-19 years
22%
20 years or more
7%

Common Health Benefits

medical benefits
Medical: 77%
dental benefits
Dental: 60%
vision benefits
Vision: 47%
no benefits
None: 20%