Mortgage Loan Processor in Virginia Beach Salary

A Mortgage Loan Processor in Virginia Beach, Virginia earns an average salary of $35,843 per year.

$30,339 - $39,900
$35K
MEDIAN: $35,159
50%

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$0$54K
Salary $35,159
Bonus $1,725
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).
)
$29,180 - $54,248
  • Country: United States
  • Currency: USD
  • Updated: 12 Nov 2017
  • Individuals Reporting: 9

Job Description for Mortgage Loan Processor

Mortgage loan processors are tasked with double-checking all information in a mortgage loan file before submitting it to an underwriter. This includes specifics such as debt-to-income ratios and the employment information of the person applying for the loan. It is very important for mortgage loan processors to ensure that loan files are ready, because once they are submitted to the underwriter, any mistakes missed by the mortgage loan processor can only be fixed with complicated procedures and copious amounts of red tape.

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Mortgage Loan Processor Tasks

  • Interview loan applicants, investigate applicants' backgrounds and verify references.
  • Review loan documents and complete transactions between loan establishment, borrowers, and sellers upon approval of loan.
  • Prepare loan request papers and related documents then forward to appraisal department.

About Virginia Beach, Virginia

Virginia Beach city, Virginia
452,745
Male:
222,684 (49.2%)
Female:
230,061 (50.8%)
Virginia Beach is an independent city located in the U.S. state of Virginia. As of the 2010 census, the population was 437,994. In 2015, the population was estimated to be 452,745. Although mostly suburban in character, it is the most populous city in Virginia and the 41st most populous city in the nation. Located on the Atlantic Ocean at the mouth of the Chesapeake Bay, Virginia Beach is included in the Hampton Roads metropolitan area. This area, known as "America's First Region", also includes the independent cities of Chesapeake, Hampton, Newport News, Norfolk, Portsmouth, and Suffolk, as well as other smaller cities, counties, and towns of Hampton Roads. Virginia Beach is a resort city with miles of beaches and hundreds of hotels, motels, and restaurants along its oceanfront. Every year the city hosts the East Coast Surfing Championships as well as the North American Sand Soccer Championship, a beach soccer tournament. It...
Virginia Beach:
$67,281
Virginia:
$66,262
$1,258
Virginia Beach:
$262,900
Virginia:
$257,800
3.6%

Mortgage Loan Processor Job Listings

Key Stats for Mortgage Loan Processor

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 2 votes.
Less than 1 year
27%
1-4 years
55%
5-9 years
9%
10-19 years
9%

Skills That Affect Mortgage Loan Processor Salaries

Loan Documents
▲5%

Loan Processing
▲4%

Mortgage Loans
▲2%

National Average
$35,000

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 2 votes.

Years of Experience

Less than 1 year
27%
1-4 years
55%
5-9 years
9%
10-19 years
9%

Common Health Benefits

medical benefits
Medical: 80%
dental benefits
Dental: 70%
vision benefits
Vision: 70%
no benefits
None: 20%