How to hire a loan closer

How to hire a loan closer, step by step

Here's a step-by-step loan closer hiring guide:

• Step 1: Identify your hiring needs
• Step 2: Create an ideal candidate profile
• Step 3: Make a budget
• Step 4: Write a loan closer job description
• Step 5: Post your job
• Step 6: Interview candidates
• Step 7: Send a job offer and onboard your new loan closer
• Step 8: Go through the hiring process checklist

What does a loan closer do?

Post a loan closer job for free, promote it for a fee

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1. Identify your hiring needs

   Before you post your loan closer job, you should take the time to determine what type of worker your business needs. While certain jobs definitely require a full-time employee, it's sometimes better to find a loan closer for hire on a part-time basis or as a contractor.

   Determine employee vs contractor status

   Is the person you're thinking of hiring a US citizen or green card holder?

   Yes

   No

   A loan closer's background is also an important factor in determining whether they'll be a good fit for the position. For example, loan closers from different industries or fields will have radically different experiences and will bring different viewpoints to the role. You also need to consider the candidate's previous level of experience to make sure they'll be comfortable with the job's level of seniority.

   This list presents loan closer salaries for various positions.

   Type of Loan Closer	Description	Hourly rate
   Loan Closer	Financial clerks do administrative work for many types of organizations. They keep records, help customers, and carry out financial transactions.	$14-24
   Processor	Processors are employees who deal with clients and ensure that the clients' requests are provided. Processors usually handle loans or any other related claims... Show more	$11-19
   Closing Coordinator	In the real estate industry, a closing coordinator is in charge of coordinating the final stages of a real estate deal, ensuring efficiency and smooth transaction. Among their responsibilities include preparing and processing legal documents, liaising with the buyer and seller, managing timelines and payment plans, and ensuring that both parties adhere to the terms of the agreement... Show more	$13-25

   Show more

2. Create an ideal candidate profile

   Common skills:

   • Customer Service
   • Excellent Organizational
   • TRID
   • FHA
   • Va
   • RESPA
   • Origination
   • Loan Packages
   • Title Commitments
   • Loan Closings
   • HUD-1
   • Data Entry
   • Settlement Statements
   • Bank Secrecy Act

   Check all skills

   Responsibilities:

   • Time management and organization skills to effectively prioritize multiple objectives and achieve volume goals.
   • Update files by obtaining annual and interim financial statements, renew insurance policies and UCC amendments, continuations and terminations.
   • Maintain a working knowledge of government underwriting policies pertaining to multiple programs such as VA, USDA, and FHA financing.
   • Gain knowledge of requirements establish by the FHA/VA, FNMA, FHLMC and private investors.
   • Prepare the delivery of mortgage loan documents to facilitate the processing of mortgage loan closings including TRID.
   • Prepare loan documents for retail mortgages (conventional, VA, FHA), all states in a paperless environment.

   More loan closer duties

3. Make a budget

   Including a salary range in your loan closer job description is a great way to entice the best and brightest candidates. A loan closer salary can vary based on several factors:

   • Location. For example, loan closers' average salary in district of columbia is 41% less than in washington.
   • Seniority. Entry-level loan closers earn 40% less than senior-level loan closers.
   • Certifications. A loan closer with a few certifications under their belt will likely demand a higher salary.
   • Company. Working for a prestigious company or an exciting start-up can make a huge difference in a loan closer's salary.

   Average loan closer salary

   $39,093yearly

   $18.79 hourly rate

   ---

   Entry-level loan closer salary

   $30,000 yearly salary

   Updated December 14, 2025

   Average loan closer salary by state

   Rank	State	Avg. salary	Hourly rate
   1	Washington	$55,585	$27
   2	California	$49,912	$24
   3	North Carolina	$49,410	$24
   4	New Jersey	$47,556	$23
   5	New York	$46,008	$22
   6	Arizona	$44,925	$22
   7	Colorado	$44,756	$22
   8	Massachusetts	$44,723	$22
   9	Kansas	$43,142	$21
   10	Oregon	$43,041	$21
   11	Minnesota	$42,291	$20
   12	Connecticut	$41,720	$20
   13	Texas	$41,045	$20
   14	Wisconsin	$40,938	$20
   15	Illinois	$40,826	$20
   16	Virginia	$40,818	$20
   17	Alabama	$40,368	$19
   18	Georgia	$40,059	$19
   19	Michigan	$39,076	$19
   20	Indiana	$39,006	$19

   Average loan closer salary by company

   Company

   Rank	Company	Average salary	Hourly rate	Job openings
   1	Tata Group	$70,520	$33.90	2
   2	JPMorgan Chase & Co.	$51,730	$24.87	13
   3	Tompkins Insurance	$49,041	$23.58
   4	CyberCoders	$48,884	$23.50
   5	StoneX Group	$44,705	$21.49
   6	The Judge Group	$44,700	$21.49
   7	Richmond American Homes	$44,565	$21.43	3
   8	Primis Bank	$43,980	$21.14	2
   9	Community First Credit Union	$43,575	$20.95	1
   10	Woodforest Financial Group Inc	$43,242	$20.79	1
   11	Teachers Insurance & Annuity Association of America	$43,163	$20.75
   12	PNMAC Holdings, Inc.	$43,161	$20.75	31
   13	Symetra	$43,125	$20.73
   14	CareerBuilder	$43,101	$20.72
   15	GreenState Credit Union	$43,081	$20.71	4
   16	Virginia Community Capital - VCC	$42,968	$20.66
   17	UW Credit Union	$42,876	$20.61
   18	Triad Financial Sm Llc	$42,837	$20.59
   19	Banesco USA	$42,763	$20.56
   20	Hoosier Hills Credit Union	$42,674	$20.52

4. Writing a loan closer job description

   A job description for a loan closer role includes a summary of the job's main responsibilities, required skills, and preferred background experience. Including a salary range can also go a long way in attracting more candidates to apply, and showing the first name of the hiring manager can also make applicants more comfortable. As an example, here's a loan closer job description:

   Loan closer job description example

   This is a senior clerical position within the mortgage division. This position is responsible for preparing and sending mortgage closing documents to attorney. This position also reviews and approves HUD-1 settlement statements and/or closing disclosures and funds loans.
   * RENASANT BANK IS AN EQUAL OPPORTUNITY EMPLOYER*
   
   Responsibilities
   
   * Coordinate mortgage loan closings with closing agents, loan originators and loan processors for correspondent/wholesale lenders and retail lenders.
   * Prepare mortgage closing packages, per closing instructions, and send to closing attorney with funds (if applicable) prior to closing.
   * Review and approve HUD-1 and HUD-1A's for closing and/or closing disclosures for closing.
   * Calculate APR and issue final TIL when applicable.
   * Prepare funding worksheet to calculate net funded wire.
   * Wire funds to closing agent or correspondent bank as needed to fund or purchase a loan.
   * Run tickets to clear funding (if applicable).
   * After loan closing, finalize loan in a timely manner in preparation for the post closing department.
   * Work with loan underwriters, processors and post closing on any outstanding conditions to be cleared.
   * Promote and maintains good public relations with customers, realtors and attorneys.
   * Other related duties as assigned.
   
   Qualifications
   
   * High School Graduate or equivalent;
   * Minimum of two (2) years job related experience;
   * Ability to operate a personal computer using Microsoft Word and Excel;
   * Working knowledge of loan documentation and bank terminology;
   * Must have working knowledge of RESPA and TILA regulations;
   * Basic knowledge of Accounting;
   * Ability to deal tactfully and effectively with customers as well as fellow employees;
   * Good organizational skills and ability to manage time efficiently within deadlines;
   * Ability to read, understand and adhere to internal and governmental policies and procedures; and
   * Ability to learn and utilize all necessary computer applications.
   
   Physical Demands
   
   The physical demands described are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. While performing the duties of this job, the employee is frequently required to stand or sit; kneel, stoop, or squat; use hands or fingers to handle or feel objects, tools or controls; reach with hands and arms, and talk or hear. The employee is occasionally required to walk. The employee must occasionally lift and /or move up to 25 pounds. Specific vision abilities required by this job include close vision, peripheral vision, depth perception and the ability to focus.
   
   Work Environment
   
   The Bank's professional working environment requires employees to communicate effectively, both verbally and in writing. Employees must demonstrate strong interpersonal skills when working closely with internal business partners and external clients. Employees may be exposed to confidential and propriety information within the working environment, therefore, must uphold confidentiality at all times. Due to the possibility of being exposed to high risk situations (i.e. robbery), detailed instructions and procedures are required to be followed at all times to safeguard the Bank's employees, customers, and assets.
   
   The above is intended to describe the general content of and requirements for the performance of this job. It is not to be construed as an exhaustive statement of duties, responsibilities, or requirements. The principal duties and responsibilities enumerated are all essential job functions except for those that begin with the word "May".
   
   This job description is intended to describe the normal level of work required by the person performing the work. The principle duties outlined are the essential responsibilities and duties. Other duties may be assigned as needs arise.
   
   This description is not intended as a contract and is subject to change. Any written contractual agreements supersede this job description. All requirements may be modified to accommodate physically or mentally challenged staff members reasonably.

   Copy this example

   

5. Post your job

   To find the right loan closer for your business, consider trying out a few different recruiting strategies:

   • Consider internal talent. One of the most important sources of talent for any company is its existing workforce.
   • Ask for referrals. Reach out to friends, family members, and current employees and ask if they know or have worked with loan closers they would recommend.
   • Recruit at local colleges. Attend job fairs at local colleges to recruit loan closers who meet your education requirements.
   • Social media platforms. LinkedIn, Facebook and Twitter now have more than 3.5 billion users, and you can use social media to reach potential job candidates.

   Post your job online:

   • Post your loan closer job on Zippia to find and recruit loan closer candidates who meet your exact specifications.
   • Use field-specific websites.
   • Post a job on free websites.

6. Interview candidates

   During your first interview to recruit loan closers, engage with candidates to learn about their interest in the role and experience in the field. During the following interview, you'll be able to go into more detail about the company, the position, and the responsibilities.

   Remember to include a few questions that allow candidates to expand on their strengths in their own words. Asking about their unique skills might reveal things you'd miss otherwise. At this point, good candidates can move on to the technical interview.

   The right interview questions can help you assess a candidate's hard skills, behavioral intelligence, and soft skills.

7. Send a job offer and onboard your new loan closer

   Once you have selected a candidate for the loan closer position, it is time to create an offer letter. In addition to salary, the offer letter should include details about benefits and perks that are available to the employee. Ensuring your offer is competitive is vital, as qualified candidates may be considering other job opportunities. The candidate may wish to negotiate the terms of the offer, and it is important to be open to discussion and reach a mutually beneficial agreement. After the offer has been accepted, it is a good idea to formalize the agreement with a contract.

   It's also important to follow up with applicants who do not get the job with an email letting them know that the position is filled.

   To prepare for the new employee's start date, you can create an onboarding schedule and complete any necessary paperwork, such as employee action forms and onboarding documents like I-9 forms, benefits enrollment, and federal and state tax forms. Human Resources should also ensure that a new employee file is created.

8. Go through the hiring process checklist

   • Determine employee type (full-time, part-time, contractor, etc.)
   • Submit a job requisition form to the HR department
   • Define job responsibilities and requirements
   • Establish budget and timeline
   • Determine hiring decision makers for the role
   • Write job description
   • Post job on job boards, company website, etc.
   • Promote the job internally
   • Process applications through applicant tracking system
   • Review resumes and cover letters
   • Shortlist candidates for screening
   • Hold phone/virtual interview screening with first round of candidates
   • Conduct in-person interviews with top candidates from first round
   • Score candidates based on weighted criteria (e.g., experience, education, background, cultural fit, skill set, etc.)
   • Conduct background checks on top candidates
   • Check references of top candidates
   • Consult with HR and hiring decision makers on job offer specifics
   • Extend offer to top candidate(s)
   • Receive formal job offer acceptance and signed employment contract
   • Inform other candidates that the position has been filled
   • Set and communicate onboarding schedule to new hire(s)
   • Complete new hire paperwork (i9, benefits enrollment, tax forms, etc.)

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