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Loan documentation specialist salary
Average loan documentation specialist salary
$35,946
Average Loan Documentation Specialist Salary
The average salary for a Loan Documentation Specialist is approximately $35,946 annually, or about $17 per hour. Salaries can vary significantly based on factors such as location, experience, and the specific employer. For instance, specialists in metropolitan areas may see higher wages compared to those in rural settings.
Salary by Experience Level
Entry-level positions typically start at lower rates, while those with several years of experience can earn upwards of $50,000. Gaining expertise in complex loan structures can further enhance earning potential.
State Salary Variations
Regional differences also play a significant role in salary. For example, states like California and New York often offer higher average salaries for loan documentation specialists, reflecting the cost of living and demand for skilled professionals.
Job Outlook
As the demand for loan processing continues to grow, opportunities for Loan Documentation Specialists are expected to expand, with many companies seeking qualified candidates to ensure compliance and efficiency in their operations.
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Where can a Loan Documentation Specialist earn more?
Loan documentation specialist salaries by experience level
Loan documentation specialist salary estimates from across the web
Average loan documentation specialist salary by state
The average loan documentation specialist salary in Washington, Oregon, and West Virginia are the highest in the U.S. The lowest average loan documentation specialist salary states are Maine, South Dakota, and Pennsylvania.
- State view
- County view
Highest paying states for loan documentation specialists
| Rank | State | Avg. salary | Hourly rate |
|---|---|---|---|
| 1 | Arizona | $38,590 | $18.55 |
| 2 | Arkansas | $37,429 | $17.99 |
| 3 | Oregon | $43,773 | $21.04 |
| 4 | Alaska | $39,464 | $18.97 |
| 5 | Washington | $47,877 | $23.02 |
| 6 | West Virginia | $43,392 | $20.86 |
| 7 | Colorado | $38,782 | $18.65 |
| 8 | Michigan | $36,364 | $17.48 |
| 9 | California | $42,964 | $20.66 |
| 10 | Hawaii | $40,755 | $19.59 |
| 11 | North Dakota | $34,938 | $16.80 |
| 12 | Rhode Island | $36,477 | $17.54 |
| 13 | North Carolina | $36,294 | $17.45 |
| 14 | Kentucky | $38,014 | $18.28 |
| 15 | New Jersey | $39,044 | $18.77 |
| 16 | Delaware | $36,356 | $17.48 |
| 17 | Minnesota | $36,467 | $17.53 |
| 18 | Maryland | $39,745 | $19.11 |
| 19 | Nevada | $35,356 | $17.00 |
| 20 | Texas | $35,600 | $17.12 |
| 21 | Vermont | $36,220 | $17.41 |
| 22 | Ohio | $36,159 | $17.38 |
| 23 | Wyoming | $33,823 | $16.26 |
| 24 | Tennessee | $34,589 | $16.63 |
| 25 | Alabama | $34,226 | $16.45 |
| 26 | South Carolina | $36,048 | $17.33 |
| 27 | Iowa | $33,524 | $16.12 |
| 28 | New York | $38,972 | $18.74 |
| 29 | Kansas | $35,885 | $17.25 |
| 30 | Florida | $34,592 | $16.63 |
| 31 | Montana | $33,926 | $16.31 |
| 32 | Louisiana | $34,846 | $16.75 |
| 33 | Indiana | $34,242 | $16.46 |
| 34 | Virginia | $36,585 | $17.59 |
| 35 | Utah | $33,235 | $15.98 |
| 36 | Massachusetts | $37,000 | $17.79 |
| 37 | South Dakota | $32,430 | $15.59 |
| 38 | Oklahoma | $34,301 | $16.49 |
| 39 | Wisconsin | $32,708 | $15.72 |
| 40 | Connecticut | $35,646 | $17.14 |
| 41 | New Hampshire | $34,829 | $16.74 |
| 42 | Idaho | $33,340 | $16.03 |
| 43 | Georgia | $33,464 | $16.09 |
| 44 | Maine | $32,543 | $15.65 |
| 45 | Pennsylvania | $31,625 | $15.20 |
| 46 | New Mexico | $33,659 | $16.18 |
| 47 | Illinois | $33,140 | $15.93 |
| 48 | Mississippi | $31,131 | $14.97 |
| 49 | Nebraska | $30,880 | $14.85 |
| 50 | Missouri | $30,075 | $14.46 |
| 51 | District of Columbia | $28,433 | $13.67 |
Highest paying cities for loan documentation specialists
The highest-paying cities for loan documentation specialists are Eugene, OR, Campbell, CA, and Englewood, CO.
| Rank | City | Avg. salary | Hourly rate |
|---|---|---|---|
| 1 | Eugene, OR | $44,276 | $21.29 |
| 2 | Campbell, CA | $43,718 | $21.02 |
| 3 | Englewood, CO | $38,755 | $18.63 |
| 4 | Phoenix, AZ | $38,600 | $18.56 |
| 5 | Rochester, NY | $38,462 | $18.49 |
| 6 | Conway, AR | $37,418 | $17.99 |
| 7 | Boston, MA | $36,964 | $17.77 |
| 8 | Hampton, VA | $36,641 | $17.62 |
| 9 | Raleigh, NC | $36,609 | $17.60 |
| 10 | San Antonio, TX | $36,459 | $17.53 |
| 11 | Eagan, MN | $36,442 | $17.52 |
| 12 | Las Vegas, NV | $35,315 | $16.98 |
| 13 | Jacksonville, FL | $34,859 | $16.76 |
| 14 | Brentwood, TN | $34,485 | $16.58 |
| 15 | Des Moines, IA | $33,349 | $16.03 |
| 16 | Chicago, IL | $33,236 | $15.98 |
| 17 | West Valley City, UT | $33,214 | $15.97 |
| 18 | Oshkosh, WI | $32,753 | $15.75 |
| 19 | Philadelphia, PA | $31,670 | $15.23 |
| 20 | Saint Louis, MO | $30,067 | $14.46 |
Loan documentation specialist salary details
A loan documentation specialist's salary ranges from $28,000 a year at the 10th percentile to $45,000 at the 90th percentile.
What is a loan documentation specialist's salary?
| Percentile | Annual salary | Monthly salary | Hourly rate |
|---|---|---|---|
| 90th Percentile | $45,000 | $3,750 | $22 |
| 75th Percentile | $40,000 | $3,333 | $19 |
| Average | $35,946 | $2,996 | $17 |
| 25th Percentile | $31,000 | $2,583 | $15 |
| 10th Percentile | $28,000 | $2,333 | $13 |
Highest paying loan documentation specialist jobs
The highest paying types of loan documentation specialists are loan servicing specialist, specialist, and service specialist.
| Job title | Annual salary | Monthly salary | Hourly rate | Job openings |
|---|---|---|---|---|
| Post Closer | $38,045 | $3,170 | $18.29 | 10,407 |
| Mortgage Processor | $40,527 | $3,377 | $19.48 | 9,057 |
| Closing Coordinator | $39,066 | $3,256 | $18.78 | 19,203 |
| Mortgage Loan Processor | $43,594 | $3,633 | $20.96 | 16,276 |
| Loan Closer | $39,093 | $3,258 | $18.79 | 11,431 |
| Loan Processor | $38,122 | $3,177 | $18.33 | 16,228 |
How would you rate the starting salaries for loan documentation specialists, as well as the prospects for salary advancement?
Matthew McConn
Associate Professor of English Education, Department Chair, Binghamton University, SUNY
Top companies hiring loan documentation specialists now:
Which companies pay loan documentation specialists the most?
Loan documentation specialist salaries at City National Bank and Centennial Bank are the highest-paying according to our most recent salary estimates. In addition, the average loan documentation specialist salary at companies like State Bank of India and Western Alliance Bank are highly competitive.
| Rank | Company | Average salary | Hourly rate |
|---|---|---|---|
| 1 | City National Bank | $45,733 | $21.99 |
| 2 | Home Bancshares Inc. | $42,237 | $20.31 |
| 3 | State Bank of India | $40,988 | $19.71 |
| 4 | Western Alliance Bank | $40,835 | $19.63 |
| 5 | Community West Bank | $40,769 | $19.60 |
| 6 | Bankers Trust Company | $40,011 | $19.24 |
| 7 | ServiceLink | $39,961 | $19.21 |
| 8 | Farm Credit System | $39,559 | $19.02 |
| 9 | United Community Bank | $39,538 | $19.01 |
| 10 | United Federal Credit Union | $39,198 | $18.85 |
| 11 | Bank of America | $39,103 | $18.80 |
| 12 | Choiceone Financial Services | $38,849 | $18.68 |
| 13 | WSFS Bank | $38,833 | $18.67 |
| 14 | Wells Fargo | $38,630 | $18.57 |
| 15 | First Community Bancshares | $38,545 | $18.53 |
| 16 | Busey | $38,024 | $18.28 |
| 17 | Berkshire Ban | $38,001 | $18.27 |
| 18 | Bank on Southern Utah | $37,787 | $18.17 |
| 19 | ServisFirst Bank | $37,767 | $18.16 |
| 20 | Mid Penn Bank | $37,743 | $18.15 |
Wage gap by gender, race and education
Loan documentation specialist salary trends
The average loan documentation specialist salary has risen by $5,691 over the last ten years. In 2014, the average loan documentation specialist earned $30,255 annually, but today, they earn $35,946 a year. That works out to a 7% change in pay for loan documentation specialists over the last decade.
Compare loan documentation specialist salaries for cities or states with the national average over time.
Average loan documentation specialist salary over time
Compare loan documentation specialist salaries for individual cities or states with the national average.
Loan documentation specialist salary by year
| Year | Avg. salary | Hourly rate | % Change |
|---|---|---|---|
| 2025 | $35,900 | $17.28 | +1.8% |
| 2024 | $35,300 | $16.98 | +1.8% |
| 2023 | $34,700 | $16.66 | +2.1% |
| 2022 | $33,900 | $16.32 | +1.1% |
| 2021 | $33,600 | $16.14 | +2.4% |
Recently added loan documentation specialist salaries
| Company | Job | Location | Date added | Salary |
|---|---|---|---|---|
| Capital Bank Career | Senior Loan Documentation Specialist | Rockville, MD | 06/28/2025 | $60,000 |
| Capital Bancorp, Inc. | Senior Loan Documentation Specialist | Raleigh, NC | 06/27/2025 | $60,000 |
| Capital Bancorp, Inc. | Senior Loan Documentation Specialist | Rockville, MD | 06/27/2025 | $60,000 |
| Carvana | Loan Document Specialist | Tempe, AZ | 06/21/2025 | $41,740 |
| Bank of Marin | Senior Loan Documentation Specialist | Rancho Cordova, CA | 06/16/2025 | $60,690 |
| Hanmi Bank | Senior Loan Documentation Specialist | Los Angeles, CA | 06/16/2025 | $52,000 |
| Experience Champaign Urbana | Loan Documentation Specialist | Springfield, IL | 06/16/2025 | $38,000 |
| First Busey Corporation | Commercial Loan Documentation Specialist | Creve Coeur, MO | 06/12/2025 | $42,784 |
| First Busey Corporation | Commercial Loan Documentation Specialist | Bloomington, MN | 06/12/2025 | $42,784 |
| First Busey Corporation | Commercial Loan Documentation Specialist | Edwardsville, IL | 06/12/2025 | $42,784 |
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