Research Summary. After extensive research by the Zippia data science team, we identified these details of loan processor salary by state for the United States:
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West Virginia has the highest loan processor salary of $49,167
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Maine has the lowest loan processor salary of $32,752
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The national average salary for loan processors is $38,122
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The national hourly pay for loan processors is $18.33
You can read more on the specific methodology.
Background
Without fail, in surveys across basically every demographic, the number one most important aspect of a job for most people is the salary — how much do loan processors get paid where I live?
And while there are many things to go into how much you, specifically, can expect to make, there’s really good data for average salaries for loan processor by state across America broken down by seniority level. So while your city may be slightly different than the state average, these averages give you a rough sense of what to expect for your salary.
The state with the best salary for loan processors after this adjustment? That would be West Virginia.
Here’s a quick snapshot of the top ten states for loan processor salaries:
Let’s take a look at how we got here and a full ranking of all the states.
Highest-Paid Loan Processors By State
| Rank | State | Average Loan Processor Salary | 10th Percentile | 90th Percentile |
|---|---|---|---|---|
| 1 | West Virginia | $49,167 | $34,000 | $69,000 |
| 2 | California | $45,801 | $32,000 | $64,000 |
| 3 | New Jersey | $44,973 | $32,000 | $63,000 |
| 4 | Maryland | $44,665 | $31,000 | $64,000 |
| 5 | New York | $44,592 | $31,000 | $62,000 |
| 6 | Nevada | $43,285 | $30,000 | $60,000 |
| 7 | Washington | $42,613 | $32,000 | $56,000 |
| 8 | Arizona | $42,587 | $30,000 | $59,000 |
| 9 | Virginia | $42,389 | $29,000 | $60,000 |
| 10 | Hawaii | $41,693 | $33,000 | $51,000 |
| 11 | Oregon | $41,418 | $30,000 | $55,000 |
| 12 | North Carolina | $41,179 | $29,000 | $57,000 |
| 13 | Colorado | $41,024 | $30,000 | $55,000 |
| 14 | Rhode Island | $40,339 | $30,000 | $54,000 |
| 15 | Connecticut | $40,104 | $29,000 | $54,000 |
| 16 | Massachusetts | $39,795 | $29,000 | $52,000 |
| 17 | Alaska | $39,719 | $32,000 | $48,000 |
| 18 | Texas | $39,380 | $28,000 | $55,000 |
| 19 | Vermont | $38,600 | $30,000 | $49,000 |
| 20 | Oklahoma | $38,199 | $27,000 | $52,000 |
| 21 | Pennsylvania | $37,753 | $26,000 | $53,000 |
| 22 | New Mexico | $37,709 | $27,000 | $52,000 |
| 23 | New Hampshire | $37,633 | $28,000 | $49,000 |
| 24 | North Dakota | $37,406 | $28,000 | $49,000 |
| 25 | Kansas | $37,402 | $27,000 | $50,000 |
| 26 | Indiana | $37,397 | $27,000 | $51,000 |
| 27 | Michigan | $37,290 | $26,000 | $51,000 |
| 28 | Idaho | $37,251 | $27,000 | $49,000 |
| 29 | Illinois | $37,143 | $27,000 | $50,000 |
| 30 | Alabama | $36,939 | $26,000 | $50,000 |
| 31 | Minnesota | $36,863 | $27,000 | $49,000 |
| 32 | Florida | $36,745 | $26,000 | $51,000 |
| 33 | Mississippi | $36,284 | $26,000 | $50,000 |
| 34 | Delaware | $36,226 | $25,000 | $51,000 |
| 35 | Louisiana | $36,118 | $25,000 | $50,000 |
| 36 | Tennessee | $36,028 | $26,000 | $49,000 |
| 37 | Wisconsin | $35,853 | $26,000 | $48,000 |
| 38 | Utah | $35,841 | $26,000 | $48,000 |
| 39 | Georgia | $35,813 | $26,000 | $49,000 |
| 40 | Wyoming | $35,419 | $26,000 | $47,000 |
| 41 | Ohio | $35,100 | $24,000 | $49,000 |
| 42 | South Carolina | $34,968 | $25,000 | $48,000 |
| 43 | Missouri | $34,828 | $25,000 | $47,000 |
| 44 | Montana | $34,553 | $26,000 | $45,000 |
| 45 | South Dakota | $34,220 | $25,000 | $45,000 |
| 46 | Kentucky | $34,187 | $24,000 | $46,000 |
| 47 | Arkansas | $34,172 | $24,000 | $46,000 |
| 48 | Nebraska | $33,931 | $25,000 | $45,000 |
| 49 | Iowa | $32,920 | $24,000 | $44,000 |
| 50 | Maine | $32,752 | $25,000 | $41,000 |
Methodology: Loan Processor Salary By State
To better understand loan processor pay by state, Zippia has aggregated data across a multitude of channels including the BLS, FLC, and OPM. We then supplement that data with actual listed salaries from job posts. Finally, the data science team calculates a weighted average of these inputs to create an average pay for loan processors by state.
We took the average annual salary data for loan processors from these estimates and ranked every state on this criteria with the state with the highest salary ranking as highest average salary for loan processors.
Loan Processor Salary By State FAQs
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What is the highest-paid state for loan processors?
The highest-paid state for loan processors is West Virginia with an average salary of $49,167 per year.
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What city pays loan processors the most?
San Francisco, CA pays loan processors the most with an average salary of $46,606 per year.
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What is the worst state for loan processors?
The worst state for loan processors is Maine with an average salary of $32,752 per year.
Author
Chris Kolmar is a co-founder of Zippia and the editor-in-chief of the Zippia career advice blog. He has hired over 50 people in his career, been hired five times, and wants to help you land your next job. His research has been featured on the New York Times, Thrillist, VOX, The Atlantic, and a host of local news. More recently, he's been quoted on USA Today, BusinessInsider, and CNBC.
