Explore jobs
Find specific jobs
Explore careers
Explore professions
Best companies
Explore companies
The differences between credit processors and mortgage loan processors can be seen in a few details. Each job has different responsibilities and duties. While it typically takes 3-6 months to become a credit processor, becoming a mortgage loan processor takes usually requires 2-4 years. Additionally, a mortgage loan processor has an average salary of $43,594, which is higher than the $31,890 average annual salary of a credit processor.
The top three skills for a credit processor include data entry, customer service and financial statements. The most important skills for a mortgage loan processor are customer service, FHA, and va.
| Credit Processor | Mortgage Loan Processor | |
| Yearly salary | $31,890 | $43,594 |
| Hourly rate | $15.33 | $20.96 |
| Growth rate | -3% | -3% |
| Number of jobs | 11,088 | 16,276 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 41% | Bachelor's Degree, 50% |
| Average age | 44 | 42 |
| Years of experience | 6 | 4 |
Credit processors and mortgage loan processors have different pay scales, as shown below.
| Credit Processor | Mortgage Loan Processor | |
| Average salary | $31,890 | $43,594 |
| Salary range | Between $26,000 And $38,000 | Between $33,000 And $57,000 |
| Highest paying City | - | San Francisco, CA |
| Highest paying state | - | Massachusetts |
| Best paying company | - | Amplify Credit Union |
| Best paying industry | - | Professional |
There are a few differences between a credit processor and a mortgage loan processor in terms of educational background:
| Credit Processor | Mortgage Loan Processor | |
| Most common degree | Bachelor's Degree, 41% | Bachelor's Degree, 50% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between credit processors' and mortgage loan processors' demographics:
| Credit Processor | Mortgage Loan Processor | |
| Average age | 44 | 42 |
| Gender ratio | Male, 25.3% Female, 74.7% | Male, 21.7% Female, 78.3% |
| Race ratio | Black or African American, 9.8% Unknown, 3.9% Hispanic or Latino, 17.4% Asian, 4.0% White, 64.4% American Indian and Alaska Native, 0.6% | Black or African American, 13.3% Unknown, 4.3% Hispanic or Latino, 14.2% Asian, 6.8% White, 61.1% American Indian and Alaska Native, 0.4% |
| LGBT Percentage | 9% | 7% |