Loan closer demographics and statistics in the US
Loan closer demographics research summary. Zippia estimates loan closer demographics and statistics in the United States by using a database of 30 million profiles. Our loan closer estimates are verified against BLS, Census, and current job openings data for accuracy. Zippia's data science team found the following key facts about loan closers after extensive research and analysis:
- There are over 73,073 loan closers currently employed in the United States.
- 77.4% of all loan closers are women, while 22.6% are men.
- The average loan closer age is 41 years old.
- The most common ethnicity of loan closers is White (60.6%), followed by Hispanic or Latino (14.8%), Black or African American (12.9%) and Asian (7.0%).
- Loan closers are most in-demand in Houston, TX.
- The finance industry is the highest-paying for loan closers.
- 7% of all loan closers are LGBT.
On this page
Loan closer demographics by:
Loan closer gender statistics
77.4% of loan closers are women and 22.6% of loan closers are men.
- Female, 77.4%
- Male, 22.6%
Loan closer gender ratio
| Gender | Percentages |
|---|---|
| Female | 77.4% |
| Male | 22.6% |
Loan closer gender pay gap
Women earn 98¢ for every $1 earned by men
Male income
$39,580
Female income
$38,647
Loan closer gender ratio over time
This data breaks down the percentage of men and women in loan closer positions over time. Currently, 77.4% of loan closers are female.
Loan closer gender ratio by year
| Year | Male | Female |
|---|---|---|
| 2010 | 15.58% | 84.42% |
| 2011 | 18.20% | 81.80% |
| 2012 | 17.64% | 82.36% |
| 2013 | 19.11% | 80.89% |
| 2014 | 17.69% | 82.31% |
| 2015 | 19.46% | 80.54% |
| 2016 | 20.82% | 79.18% |
| 2017 | 22.66% | 77.34% |
| 2018 | 22.59% | 77.41% |
| 2019 | 20.67% | 79.33% |
| 2020 | 21.85% | 78.15% |
| 2021 | 22.57% | 77.43% |
Loan closer related jobs gender ratio
We compared loan closers with similar job titles to see how gender ratios vary. As you can see, technical service advisor and courtesy associate have the biggest gender ratio gaps.
| Job title | Male | Female |
|---|---|---|
| Loan Secretary | 4% | 96% |
| Dental Receptionist | 5% | 95% |
| Receptionist Secretary | 6% | 94% |
| Loan Closer | 23% | 77% |
| Lead Ramp Agent | 86% | 14% |
| Courtesy Associate | 88% | 12% |
| Technical Service Advisor | 89% | 11% |
Male
Female
100%
75%
50%
25%
0%
0%
25%
50%
75%
100%
Loan closer demographics by race
The most common ethnicity among loan closers is White, which makes up 60.6% of all loan closers. Comparatively, 14.8% of loan closers are Hispanic or Latino and 12.9% of loan closers are Black or African American.
- White, 60.6%
- Hispanic or Latino, 14.8%
- Black or African American, 12.9%
- Asian, 7.0%
- Unknown, 4.3%
- American Indian and Alaska Native, 0.4%
Loan closer race
| Loan closer race | Percentages |
|---|---|
| White | 60.6% |
| Hispanic or Latino | 14.8% |
| Black or African American | 12.9% |
| Asian | 7.0% |
| Unknown | 4.3% |
| American Indian and Alaska Native | 0.4% |
Loan closer race and ethnicity over time
See how loan closer racial and ethnic diversity trended since 2010 according to the United States Census Bureau data.
Loan closer race and ethnicity by year
| Year | White | Black or African American | Asian | Hispanic or Latino |
|---|---|---|---|---|
| 2010 | 64.64% | 12.02% | 6.45% | 14.55% |
| 2011 | 64.07% | 12.11% | 6.56% | 14.50% |
| 2012 | 65.60% | 13.07% | 5.50% | 13.46% |
| 2013 | 62.65% | 14.83% | 6.74% | 13.33% |
| 2014 | 63.10% | 11.60% | 6.86% | 15.97% |
| 2015 | 65.15% | 12.99% | 6.98% | 12.31% |
| 2016 | 66.64% | 11.11% | 6.09% | 13.95% |
| 2017 | 63.84% | 12.21% | 6.67% | 15.17% |
| 2018 | 65.38% | 11.85% | 7.23% | 12.90% |
| 2019 | 67.65% | 8.33% | 5.65% | 15.75% |
| 2020 | 64.23% | 10.83% | 7.41% | 13.50% |
| 2021 | 60.56% | 12.92% | 7.01% | 14.81% |
Loan closer wage gap by race
According to our data, hispanic or latino loan closers have the highest average salary compared to other ethnicities. Black or african american loan closers have the lowest average salary at $37,353.
| Ethnicity | Salary |
|---|---|
| Unknown | $40,221 |
| White | $39,750 |
| Black or African American | $37,353 |
| Asian | $40,092 |
| Hispanic or Latino | $40,572 |
Average loan closer age
See how the average age of loan closers varies based on ethnicity and gender.
Male
Female
Loan closer age by race and gender
| Race | Male age | Female age |
|---|---|---|
| Unknown | 32 | 43 |
| White | 34 | 43.5 |
| Black or African American | 38 | 38 |
| Asian | 41 | 45.5 |
| Hispanic or Latino | 39 | 38.5 |
Loan closer age breakdown
The average age of loan closers is 40+ years years old, representing 54% of the loan closer population.
Loan closer age breakdown
| Loan Closer Years | Percentages |
|---|---|
| 40+ years | 54% |
| 30-40 years | 28% |
| 20-30 years | 18% |
Loan closer educational attainment
The most common degree for loan closers is bachelor's degree, with 51% of loan closers earning that degree. The second and third most common degree levels are associate degree degree at 23% and associate degree degree at 13%.
- Bachelor's, 51%
- Associate, 23%
- High School Diploma, 13%
- Master's, 5%
- Other Degrees, 8%
Loan closers by degree level
| Loan closer degree | Percentages |
|---|---|
| Bachelor's | 51% |
| Associate | 23% |
| High School Diploma | 13% |
| Master's | 5% |
| Other Degrees | 8% |
Loan closer jobs you might like
Loan closer wage gap by degree level
According to the data, loan closers with a Bachelor's degree earn more than those without, at $41,369 annually. With a High School Diploma degree, loan closers earn a median annual income of $39,172 compared to $39,013 for loan closers with an Associate degree.
| Education | Salary |
|---|---|
| High School Diploma or Less | $39,172 |
| Bachelor's Degree | $41,369 |
| Some College/ Associate Degree | $39,013 |
Loan closer employment statistics
Most loan closers work for a private in the finance industry.
Company size where loan closers work
Below, you can see the size of companies where loan closers work.
Loan closer jobs by employer size
| Company size | Percentages |
|---|---|
| < 50 employees | 5% |
| 50 - 100 employees | 14% |
| 100 - 500 employees | 27% |
| 500 - 1,000 employees | 13% |
| 1,000 - 10,000 employees | 27% |
| > 10,000 employees | 14% |
Loan closer jobs by company type
Employees with the loan closer job title have their preferences when it comes to working for a company. For instance, most loan closers prefer to work at private companies over public companies.
Loan closer jobs by sector
| Company type | Percentages |
|---|---|
| Education | 0% |
| Public | 31% |
| Private | 67% |
| Government | 2% |
Loan closer jobs by industry
The most common industries for loan closers are finance, professional and real estate.
Loan closer industry statistics
| Industry | Percentages |
|---|---|
| Finance | 69% |
| Fortune 500 | 7% |
| Professional | 7% |
| Real Estate | 4% |
| Technology | 2% |
| Insurance | 2% |
| Start-up | 1% |
| Retail | 1% |
| Government | 1% |
| Media | 1% |
| Energy | 1% |
| Construction | 1% |
| Hospitality | 1% |
| Manufacturing | 1% |
Loan closer turnover and employment statistics
Loan closer unemployment rate over time
The unemployment rate for loan closers between 2008 and the most recent data has varied, according to the Bureau of Labor Statistics.
Loan closer unemployment rate by year
| Year | Loan closer unemployment rate |
|---|---|
| 2010 | 11.22% |
| 2011 | 9.54% |
| 2012 | 6.27% |
| 2013 | 5.49% |
| 2014 | 7.20% |
| 2015 | 3.15% |
| 2016 | 3.20% |
| 2017 | 2.30% |
| 2018 | 2.81% |
| 2019 | 2.16% |
| 2020 | 2.86% |
| 2021 | 2.21% |
Average loan closer tenure
The average loan closer stays at their job for 1-2 years, based on the 5,358 loan closers resumes in Zippia's database.
Loan closer tenure statistics
| Number of years | Percentages |
|---|---|
| Less than 1 year | 23% |
| 1-2 years | 37% |
| 3-4 years | 15% |
| 5-7 years | 13% |
| 8-10 years | 6% |
| 11+ years | 6% |
Loan closer LGBT ratio compared to similar jobs
Review the percent of loan closers that are members of the LGBT community. You can see how this compares to similar jobs in the chart below.
| Job title | LGBT | Job openings |
|---|---|---|
| Social Security Benefits Interviewer | 6.73% | 97,464 |
| Loan Closer | 6.78% | - |
| Call Center Coordinator | 7.19% | 209,222 |
| Microfilmer | 8.60% | 118 |
| Commercial Loan Reviewer | 8.99% | 36,035 |
| Mobile Library Assistant | 11.16% | 5,020 |
| Staffing Assistant | 15.31% | 20,939 |
Similar loan closer jobs LGBT demographics
| Profession | Percentages of LGBT | Job openings |
|---|---|---|
| Social Security Benefits Interviewer | 6.73% | 97,464 |
| Call Center Coordinator | 7.19% | 209,222 |
| Microfilmer | 8.60% | 118 |
| Commercial Loan Reviewer | 8.99% | 36,035 |
| Mobile Library Assistant | 11.16% | 5,020 |
| Staffing Assistant | 15.31% | 20,939 |
Foreign languages spoken by loan closers
The most common foreign language among loan closers is Spanish at 57.4%. The second-most popular foreign language spoken is French at 6.4% and Italian is the third-most popular at 4.3%.
- Spanish, 57.4%
- French, 6.4%
- Italian, 4.3%
- Russian, 4.3%
- Portuguese, 3.2%
- Other, 24.4%
Loan closer languages spoken
| Foreign language | Percentages |
|---|---|
| Spanish | 57.4% |
| French | 6.4% |
| Italian | 4.3% |
| Russian | 4.3% |
| Portuguese | 3.2% |
| Other | 24.4% |
