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The differences between closers and loan closers can be seen in a few details. Each job has different responsibilities and duties. While it typically takes 4-6 years to become a closer, becoming a loan closer takes usually requires 2-4 years. Additionally, a loan closer has an average salary of $39,093, which is higher than the $29,291 average annual salary of a closer.
The top three skills for a closer include customer service, cleanliness and punctuality. The most important skills for a loan closer are customer service, excellent organizational, and TRID.
| Closer | Loan Closer | |
| Yearly salary | $29,291 | $39,093 |
| Hourly rate | $14.08 | $18.79 |
| Growth rate | 4% | -3% |
| Number of jobs | 7,560 | 11,431 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 35% | Bachelor's Degree, 51% |
| Average age | 45 | 42 |
| Years of experience | 6 | 4 |
The duties of a closer depend on one's line of work or industry of employment. Typically, their responsibilities revolve around liaising with clients to ensure that they understand and adhere to all terms of the agreement, completing all requirements and necessary documents, and maintaining records of all transactions. A closer must also monitor the regular payments of clients to ensure their compliance with the agreement, answer any inquiries, perform follow-up calls, and address any issues or concerns, resolving them promptly and efficiently.
A loan closer is primarily in charge of handling and closing loan documentation, ensuring accuracy and smooth transactions. A loan closer's responsibilities revolve around liaising with clients to guarantee that they adhere to every term in the contract, preparing necessary reports and documents, monitoring payment progress, and ensuring that they have a deep understanding of the obligations under the contract. Furthermore, it is essential to maintain records of all transactions and assist clients, all while implementing the company's policies and regulations.
Closers and loan closers have different pay scales, as shown below.
| Closer | Loan Closer | |
| Average salary | $29,291 | $39,093 |
| Salary range | Between $20,000 And $40,000 | Between $30,000 And $50,000 |
| Highest paying City | Greece, NY | Bellevue, WA |
| Highest paying state | Hawaii | Washington |
| Best paying company | GPAC | Tata Group |
| Best paying industry | - | Finance |
There are a few differences between a closer and a loan closer in terms of educational background:
| Closer | Loan Closer | |
| Most common degree | Bachelor's Degree, 35% | Bachelor's Degree, 51% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between closers' and loan closers' demographics:
| Closer | Loan Closer | |
| Average age | 45 | 42 |
| Gender ratio | Male, 45.0% Female, 55.0% | Male, 22.6% Female, 77.4% |
| Race ratio | Black or African American, 9.4% Unknown, 4.6% Hispanic or Latino, 16.3% Asian, 6.1% White, 63.1% American Indian and Alaska Native, 0.5% | Black or African American, 12.9% Unknown, 4.3% Hispanic or Latino, 14.8% Asian, 7.0% White, 60.6% American Indian and Alaska Native, 0.4% |
| LGBT Percentage | 8% | 7% |