Average Loan Processor with Consumer Loans Skills Hourly Pay

$15.50
Avg. Hourly RateShow Salary
$1,986
Bonus
$4,300
Commission
$1,300
Profit Sharing
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The average hourly pay for a Loan Processor with Consumer Loans skills is $15.50.
10%
$11.87
MEDIAN
$15.50
90%
$20.23
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United States (change)
Hourly Rate
$12 - $20
Bonus
$505 - $6,787
Profit Sharing
$4 - $2,959
Commission
$650 - $16,000
Total Pay
$26,054 - $49,073

Your Market Worth Over Time

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Job Description for Loan Processor

Loan Processor Tasks
  • Complete and maintain all paperwork for ongoing and new loans, including loan disclosures.
  • Submit completed loans to underwriting, and ensure all items are obtained.
  • Order title and escrow, review them and process loan conditions.
  • Work with clients and loan originator to obtain necessary information, process it and finalize loan documents.

Popular Employer Salaries for Loan Processor

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Popular Skills for Loan Processor

Skills in Loan Processing, Loan Documents, Mortgage Loans, Customer Service and Commercial Loans are correlated to pay that is above average.

Pay by Experience Level for Loan Processor

An entry-level Loan Processor with less than 1 year experience can expect to earn an average total compensation (includes tips, bonus, and overtime pay) of $14.06 based on 10 salaries. An early career Loan Processor with 1-4 years of experience earns an average total compensation of $14.99 based on 277 salaries. A mid-career Loan Processor with 5-9 years of experience earns an average total compensation of $16.34 based on 87 salaries. An experienced Loan Processor with 10-19 years of experience earns an average total compensation of $17.41 based on 92 salaries. In their late career (20 years and higher), employees earn an average total compensation of $18.
Employees with Loan Processor in their job title in Chicago, Illinois earn an average of 28.6% more than the national average. These job titles also find higher than average salaries in Louisville, Kentucky (12.4% more) and Sacramento, California (10.5% more). The lowest salaries can be found in St. Louis, Missouri (5.3% less) and Chattanooga, Tennessee (0.3% less).

Years of Experience

This data is based on 502 survey responses.
Entry Level
2.0%
Early Career
55.2%
Mid Career
17.3%
Experienced
18.3%
Late Career
7.2%