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The differences between junior processors and loan assistants can be seen in a few details. Each job has different responsibilities and duties. It typically takes 2-4 years to become both a junior processor and a loan assistant. Additionally, a loan assistant has an average salary of $36,962, which is higher than the $33,371 average annual salary of a junior processor.
The top three skills for a junior processor include mortgage loans, loan applications and appraisal orders. The most important skills for a loan assistant are customer service, loan applications, and mortgage loans.
| Junior Processor | Loan Assistant | |
| Yearly salary | $33,371 | $36,962 |
| Hourly rate | $16.04 | $17.77 |
| Growth rate | -3% | -3% |
| Number of jobs | 17,036 | 8,923 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 38% | Bachelor's Degree, 51% |
| Average age | 42 | 42 |
| Years of experience | 4 | 4 |
A junior processor is responsible for assessing a loan applicant's information to determine whether they are eligible to obtain a loan. This includes examining the assets submitted by the applicant, considering whether the loan is viable, and determining if the applicant is capable of paying. They also explain the terms and conditions set by the lending company. After assessment, they forward the loan applicant's details to the loan committee for appropriate action, which could be approval or disapproval.
Loan assistants act as support primarily to loan officers in preparing, reviewing, and verifying account documentation pertinent to loans. Also, ensuring the completeness of the loan files and that all collateral has been properly secured. In addition, loan assistants update collateral values on commercial and residential real estate loans as assigned by senior management. They stay within the guidelines established by bank policy and maintain the highest level of confidentiality with all information obtained.
Junior processors and loan assistants have different pay scales, as shown below.
| Junior Processor | Loan Assistant | |
| Average salary | $33,371 | $36,962 |
| Salary range | Between $26,000 And $41,000 | Between $28,000 And $47,000 |
| Highest paying City | - | Olympia, WA |
| Highest paying state | - | Washington |
| Best paying company | - | University of California, Berkeley |
| Best paying industry | - | Finance |
There are a few differences between a junior processor and a loan assistant in terms of educational background:
| Junior Processor | Loan Assistant | |
| Most common degree | Bachelor's Degree, 38% | Bachelor's Degree, 51% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between junior processors' and loan assistants' demographics:
| Junior Processor | Loan Assistant | |
| Average age | 42 | 42 |
| Gender ratio | Male, 19.1% Female, 80.9% | Male, 18.2% Female, 81.8% |
| Race ratio | Black or African American, 12.4% Unknown, 4.2% Hispanic or Latino, 18.5% Asian, 6.6% White, 57.9% American Indian and Alaska Native, 0.4% | Black or African American, 12.2% Unknown, 4.3% Hispanic or Latino, 15.4% Asian, 7.4% White, 60.2% American Indian and Alaska Native, 0.4% |
| LGBT Percentage | 7% | 7% |