Loan Processor in Phoenix, Arizona Salary

How much does a Loan Processor make in Phoenix, AZ? In Phoenix, a Loan Processor takes home around $43,325 annually on average. This is 7% higher than the national average for a Loan Processor which is $40,249 annually. Salaries for a Loan Processor in Phoenix range from $35,231 per year to $54,631 per year. Total Annual Compensation, which includes salary, bonus, and overtime for a Loan Processor in Phoenix ranges from $34,597 to $60,820 annually. Among those reporting, there is an average job satisfaction rating of 0 out of 5 stars. In Phoenix, women make up the majority of the workforce (56 percent). Many report receiving medical, dental, and vision benefits from their employer.

$35,231 - $54,631
$35K
$43K
$55K
MEDIAN: $43,325
10%
50%
90%

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$18.13 - $21.88
$20
MEDIAN: $19.85
50%

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$0$60K
Salary $35,231 - $54,631
Bonus $12,000
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).
)
$34,597 - $60,820
  • Country: United States
  • Currency: USD
  • Updated: 19 Nov 2017
  • Individuals Reporting: 10
Hourly Data $0$27
Hourly Rate $19.85
Overtime $27.00
Annual Data $0$60K
Bonus $12,000
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).
)
$34,597 - $60,820
  • Country: United States
  • Currency: USD
  • Updated: 19 Nov 2017
  • Individuals Reporting: 7

Job Description for Loan Processor

A loan processor is responsible for managing the administrative tasks associated with loans or mortgages. These tasks include data entry, loan application verification, background and credit checks, communicating with applicants, and preparing loan applications for submission to underwriters. Loan processors ensure that all required documentation and signatures are in place prior to submitting the loan for approval. Mortgage loan processors also must be able to deal with real estate and escrow agents, buyers, homebuilders, and all others who are involved with the home-buying process. In this way, mortgage loan processing can be more complicated; however, most loan processors work in the mortgage or automobile loan industry.

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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.

About Phoenix, Arizona

Maricopa County, Arizona
1,563,001
Male:
786,833 (50.3%)
Female:
776,168 (49.7%)
Phoenix (/ˈfiːnᵻks/) is the capital and most populous city of the U.S. state of Arizona. With 1,563,025 people (as of 2015), Phoenix is the sixth most populous city nationwide, the most populous state capital in the United States, and the only state capital with a population of more than 1 million residents. Phoenix is the anchor of the Phoenix metropolitan area, also known as the Valley of the Sun, which in turn is a part of the Salt River Valley. The metropolitan area is the 12th largest by population in the United States, with approximately 4.3 million people as of 2010. In addition, Phoenix is the county seat of Maricopa County and, at 517.9 square miles (1,341 km2), it is the largest city in the state, nearly twice the size of Tucson and one of the largest cities in the United States. Settled in 1867 as an agricultural community near the confluence of the...
Phoenix:
$48,452
Arizona:
$51,492
$922
Phoenix:
$200,800
Arizona:
$194,300
4.0%

Loan Processor Job Listings

Key Stats for Loan Processor

Gender

Female
56 %
Male
44 %
Less than 1 year
35%
1-4 years
41%
5-9 years
12%
10-19 years
12%

Skills That Affect Loan Processor Salaries

National Average
$42,000

Customer Service
▼2%

Loan Processing
▼5%

Mortgage Loans
▼12%

Gender

Female
56 %
Male
44 %

Years of Experience

Less than 1 year
35%
1-4 years
41%
5-9 years
12%
10-19 years
12%

Common Health Benefits

medical benefits
Medical: 78%
dental benefits
Dental: 67%
vision benefits
Vision: 67%
no benefits
None: 22%