Avg. Base Salary (USD)
The average salary for a Loan Closer is $54,665 in 2024
What is the Pay by Experience Level for Loan Closers?
An entry-level Loan Closer with less than 1 year experience can expect to earn an average total compensation (includes tips, bonus, and overtime pay) of $42,715 based on 16 salaries. An early career Loan Closer with 1-4 years of experience earns an average total compensation of $50,446 based on 76 salaries. A mid-career Loan …Read more
What Do Loan Closers Do?
Loan closers work for mortgage companies by carrying out administrative duties to prepare closing packages, which is an essential part of helping loans come to fruition. They must enter information accurately to properly close loans and review all related documents to ensure they are correct and complete; these documents include invoices, titles, insurance, and closing commitment documents. Other information to be verified includes names, property addresses, lock dates, and underwriting …Read more
How do Loan Closers Rate Their Jobs?
FAQs About Loan Closers
What is the highest pay for Loan Closers?
Our data indicates that the highest pay for a Loan Closer is $71k / year
What is the lowest pay for Loan Closers?
Our data indicates that the lowest pay for a Loan Closer is $39k / year
How can Loan Closers increase their salary?
Increasing your pay as a Loan Closer is possible in different ways. Change of employer: Consider a career move to a new employer that is willing to pay higher for your skills. Level of Education: Gaining advanced degrees may allow this role to increase their income potential and qualify for promotions. Managing Experience: If you are a Loan Closer that oversees more junior Loan Closers, this experience can increase the likelihood to earn more.