Q: How long does it take to become a mortgage closer?

It takes about one year to become a mortgage closer. Since the only required level of education to be completed is high school, all you would need to become a mortgage closer is at least one year of experience working in banking or loan processing.

Q: How much does a closer make a year?

A closer makes $75,000 a year, on average. However, because closers are paid based on commission, this salary can vary greatly depending on the terms set by the closer and the location and value of the properties being worked with.

Q: Is being a mortgage loan closer hard?

No, being a mortgage loan closer is not hard. Because no higher education is necessary, with proper experience and training, anyone could become a mortgage loan closer. However, there are difficult aspects of the job just like with any other.

Q: Do loan processors make good money?

Yes, loan processors make good money. A loan processor's average annual salary is $41,782 or $20.09 per hour. On the lower end of the salary range, you may only make around $33,000, usually for entry-level positions. On the higher end, you can make around $52,000. Senior-level positions can earn you an average salary of $61,300 or more compared to mid-level positions of $45,000.

Q: Is loan processing a stressful job?

Yes, loan processing is a stressful job. In fact, 91% of all loan processors would describe their job as stressful. What could make loan processing a stressful career is the amount of possible unpleasant interaction that must be had with clients.

Question 1

How long does it take to become a mortgage closer?

Accepted Answer

It takes about one year to become a mortgage closer. Since the only required level of education to be completed is high school, all you would need to become a mortgage closer is at least one year of experience working in banking or loan processing.

Question 2

How much does a closer make a year?

Accepted Answer

A closer makes $75,000 a year, on average. However, because closers are paid based on commission, this salary can vary greatly depending on the terms set by the closer and the location and value of the properties being worked with.

Question 3

Do mortgage closers get commission?

Accepted Answer

Yes, mortgage closers get a commission for every transaction completed rather than earning a standard salary. The amount of commission they earn on a mortgage depends on the terms set prior to the transaction.

Question 4

Is being a mortgage loan closer hard?

Accepted Answer

No, being a mortgage loan closer is not hard. Because no higher education is necessary, with proper experience and training, anyone could become a mortgage loan closer. However, there are difficult aspects of the job just like with any other.

Question 5

Do loan processors make good money?

Accepted Answer

Yes, loan processors make good money. A loan processor's average annual salary is $41,782 or $20.09 per hour.

On the lower end of the salary range, you may only make around $33,000, usually for entry-level positions. On the higher end, you can make around $52,000. Senior-level positions can earn you an average salary of $61,300 or more compared to mid-level positions of $45,000.

Question 6

Is loan processing a stressful job?

Accepted Answer

Yes, loan processing is a stressful job. In fact, 91% of all loan processors would describe their job as stressful. What could make loan processing a stressful career is the amount of possible unpleasant interaction that must be had with clients.

Frequently asked questions about loan closers

Questions about becoming a loan closer