Loan Assistant Salary

A Loan Assistant earns an average wage of $15.07 per hour. Most people move on to other jobs if they have more than 20 years' experience in this career. A skill in Commercial Loans is associated with high pay for this job.

$27,047 - $52,750
$27K
$36K
$53K
MEDIAN: $36,333
10%
50%
90%

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$11.71 - $20.32
$12
$15
$20
MEDIAN: $15.26
10%
50%
90%

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$0$52K
Salary $27,047 - $52,750
Bonus $438.50 - $6,153
Profit Sharing $1,000
Commission $10,500
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).
)
$25,453 - $49,506
  • Country: United States
  • Currency: USD
  • Updated: 20 Sep 2017
  • Individuals Reporting: 101
Hourly Data $0$32
Hourly Rate $11.71 - $20.32
Overtime $15.07 - $32.73
Annual Data $0$49K
Bonus $438.50 - $6,153
Commission $10,500
Profit Sharing $1,000
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).
)
$25,453 - $49,506
  • Country: United States
  • Currency: USD
  • Updated: 20 Sep 2017
  • Individuals Reporting: 163

Find Out Exactly What You Should Be Paid

United States (change)

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.

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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.

Related Job Salaries

Key Stats for Loan Assistant

Gender

Female
91 %
Male
9 %

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 44 votes.
Less than 1 year
8%
1-4 years
45%
5-9 years
18%
10-19 years
21%
20 years or more
8%
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Location:
Years in Fields/Career:
United States (change)

Experience Affects Loan Assistant Salaries

▲19%

▲18%

▲4%

National Average
$35,000

▼10%

Skills That Affect Loan Assistant Salaries

Commercial Loans
▲24%

Consumer Loans
▲2%



National Average
$35,000

Customer Service
▼1%

Mortgage Loans
▼11%

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 44 votes.

Gender

Female
91 %
Male
9 %

Years of Experience

Less than 1 year
8%
1-4 years
45%
5-9 years
18%
10-19 years
21%
20 years or more
8%

Common Health Benefits

medical benefits
Medical: 82%
dental benefits
Dental: 59%
vision benefits
Vision: 44%
no benefits
None: 16%
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