Average Mortgage Loan Closer Salary

$45,251
Avg. SalaryShow Hourly Rate
$3,800
Bonus
$5,950
Commission
$3,000
Profit Sharing
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The average salary for a Mortgage Loan Closer is $45,251.
10%
$35k
10%
$45k
50%
$59k
90%
90%
MEDIAN $45,251
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United States (change)
Salary
$35k - $59k
Bonus
$990 - $11k
Profit Sharing
$1k - $5k
Commission
$511 - $32k
Total Pay
$34k - $60k

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Job Description for Mortgage Loan Closer

Mortgage Loan Closer Tasks
  • Authorize funding upon verification of all documentation.
  • Order credit reports, appraisals, title insurance, and all other certifications as necessary.
  • Answer questions regarding closing requirements.
  • Maintain communication with brokers partners and closing/settlement agents with loan status.
The top respondents for the job title Mortgage Loan Closer are from the companies J.P. Morgan Chase & Co. (JPMCC), U.S. Bank and Wells Fargo Home Mortgage. Reported salaries are highest at Wells Fargo Home Mortgage where the average pay is $53,513. Other companies that offer high salaries for this role include Caliber Home Loans, Inc. and J.P. Morgan Chase & Co. (JPMCC), earning around $52,000 and $49,400, respectively. SunTrust Mortgage, Inc. pays the lowest at around $43,775. Chase Bank and The PNC Financial Services Group, Inc. also pay on the lower end of the scale, paying $44,000 and $44,911, respectively.

Career Paths

Explore the most common career paths for Mortgage Loan Closer. Thickness and color of lines indicates popularity of movement from one job to the next. Visit our career path planner to research other job paths.
Mortgage Loan Closer
Loan Closer
Mortgage Loan Processor
Loan Underwriter, Mortgage
More common (> 20%)
Somewhat common (8 - 20%)
Less common (< 8%)

Mortgage Loan Closer Job Listings

Popular Skills for Mortgage Loan Closer

Skills in Regulatory Compliance are correlated to pay that is above average. Skills that pay less than market rate include Loan Processing, Customer Service, Loan Documents and Mortgage Loans.

Pay by Experience Level for Mortgage Loan Closer

An entry-level Mortgage Loan Closer with less than 1 year experience can expect to earn an average total compensation (includes tips, bonus, and overtime pay) of $38,280 based on 27 salaries. An early career Mortgage Loan Closer with 1-4 years of experience earns an average total compensation of $41,568 based on 236 salaries. A mid-career Mortgage Loan Closer with 5-9 years of experience earns an average total compensation of $45,950 based on 161 salaries. An experienced Mortgage Loan Closer with 10-19 years of experience earns an average total compensation of $48,965 based on 245 salaries. In their late career (20 years and higher), employees earn an average total compensation of $49,838.
Employees with Mortgage Loan Closer in their job title in Chicago, Illinois earn an average of 18.3% more than the national average. These job titles also find higher than average salaries in Phoenix, Arizona (9.1% more) and Dallas, Texas (8.4% more). The lowest salaries can be found in Atlanta, Georgia (8.8% less), Jacksonville, Florida (2.8% less) and Charlotte, North Carolina (0.6% less).

Years of Experience

This data is based on 795 survey responses.
Entry Level
3.4%
Early Career
29.7%
Mid Career
20.3%
Experienced
30.8%
Late Career
15.8%

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