Loan processor demographics and statistics in the US
Loan processor demographics research summary. Zippia estimates loan processor demographics and statistics in the United States by using a database of 30 million profiles. Our loan processor 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 processors after extensive research and analysis:
- There are over 221,180 loan processors currently employed in the United States.
- 79.4% of all loan processors are women, while 20.6% are men.
- The average loan processor age is 41 years old.
- The most common ethnicity of loan processors is White (58.3%), followed by Hispanic or Latino (17.1%), Black or African American (12.5%) and Asian (7.4%).
- Loan processors are most in-demand in Houston, TX.
- The finance industry is the highest-paying for loan processors.
- 7% of all loan processors are LGBT.
On this page
Loan processor demographics by:
Loan processor gender statistics
79.4% of loan processors are women and 20.6% of loan processors are men.
- Female, 79.4%
- Male, 20.6%
Loan processor gender ratio
| Gender | Percentages |
|---|---|
| Female | 79.4% |
| Male | 20.6% |
Loan processor gender pay gap
Women earn 97¢ for every $1 earned by men
Male income
$38,657
Female income
$37,634
Loan processor gender ratio over time
This data breaks down the percentage of men and women in loan processor positions over time. Currently, 79.4% of loan processors are female.
Loan processor gender ratio by year
| Year | Male | Female |
|---|---|---|
| 2010 | 14.12% | 85.88% |
| 2011 | 16.54% | 83.46% |
| 2012 | 16.02% | 83.98% |
| 2013 | 17.38% | 82.62% |
| 2014 | 16.07% | 83.93% |
| 2015 | 17.71% | 82.29% |
| 2016 | 18.98% | 81.02% |
| 2017 | 20.70% | 79.30% |
| 2018 | 20.63% | 79.37% |
| 2019 | 18.83% | 81.17% |
| 2020 | 19.94% | 80.06% |
| 2021 | 20.61% | 79.39% |
Loan processor related jobs gender ratio
We compared loan processors 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 Processor | 21% | 79% |
| 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 processor demographics by race
The most common ethnicity among loan processors is White, which makes up 58.3% of all loan processors. Comparatively, 17.1% of loan processors are Hispanic or Latino and 12.5% of loan processors are Black or African American.
- White, 58.3%
- Hispanic or Latino, 17.1%
- Black or African American, 12.5%
- Asian, 7.4%
- Unknown, 4.3%
- American Indian and Alaska Native, 0.4%
Loan processor race
| Loan processor race | Percentages |
|---|---|
| White | 58.3% |
| Hispanic or Latino | 17.1% |
| Black or African American | 12.5% |
| Asian | 7.4% |
| Unknown | 4.3% |
| American Indian and Alaska Native | 0.4% |
Loan processor race and ethnicity over time
See how loan processor racial and ethnic diversity trended since 2010 according to the United States Census Bureau data.
Loan processor race and ethnicity by year
| Year | White | Black or African American | Asian | Hispanic or Latino |
|---|---|---|---|---|
| 2010 | 62.36% | 11.55% | 6.86% | 16.83% |
| 2011 | 61.80% | 11.64% | 6.98% | 16.77% |
| 2012 | 63.32% | 12.61% | 5.91% | 15.73% |
| 2013 | 60.38% | 14.36% | 7.16% | 15.61% |
| 2014 | 60.83% | 11.13% | 7.27% | 18.25% |
| 2015 | 62.87% | 12.53% | 7.40% | 14.59% |
| 2016 | 64.36% | 10.64% | 6.50% | 16.23% |
| 2017 | 61.56% | 11.75% | 7.09% | 17.44% |
| 2018 | 63.11% | 11.38% | 7.64% | 15.17% |
| 2019 | 65.38% | 7.86% | 6.06% | 18.03% |
| 2020 | 61.96% | 10.36% | 7.82% | 15.77% |
| 2021 | 58.28% | 12.46% | 7.43% | 17.09% |
Loan processor wage gap by race
According to our data, hispanic or latino loan processors have the highest average salary compared to other ethnicities. Black or african american loan processors have the lowest average salary at $36,220.
| Ethnicity | Salary |
|---|---|
| Unknown | $39,362 |
| White | $38,844 |
| Black or African American | $36,220 |
| Asian | $39,220 |
| Hispanic or Latino | $39,748 |
Average loan processor age
See how the average age of loan processors varies based on ethnicity and gender.
Male
Female
Loan processor 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 processor age breakdown
The average age of loan processors is 40+ years years old, representing 54% of the loan processor population.
Loan processor age breakdown
| Loan Processor Years | Percentages |
|---|---|
| 40+ years | 54% |
| 30-40 years | 28% |
| 20-30 years | 18% |
Loan processor educational attainment
The most common degree for loan processors is bachelor's degree, with 46% of loan processors earning that degree. The second and third most common degree levels are associate degree degree at 23% and associate degree degree at 19%.
- Bachelor's, 46%
- Associate, 23%
- High School Diploma, 19%
- Diploma, 4%
- Other Degrees, 8%
Loan processors by degree level
| Loan processor degree | Percentages |
|---|---|
| Bachelor's | 46% |
| Associate | 23% |
| High School Diploma | 19% |
| Diploma | 4% |
| Other Degrees | 8% |
Loan processor jobs you might like
Loan processor wage gap by degree level
According to the data, loan processors with a Bachelor's degree earn more than those without, at $40,627 annually. With a High School Diploma degree, loan processors earn a median annual income of $38,209 compared to $38,035 for loan processors with an Associate degree.
| Education | Salary |
|---|---|
| High School Diploma or Less | $38,209 |
| Bachelor's Degree | $40,627 |
| Some College/ Associate Degree | $38,035 |
Loan processor employment statistics
Most loan processors work for a private in the finance industry.
Company size where loan processors work
Below, you can see the size of companies where loan processors work.
Loan processor jobs by employer size
| Company size | Percentages |
|---|---|
| < 50 employees | 5% |
| 50 - 100 employees | 19% |
| 100 - 500 employees | 24% |
| 500 - 1,000 employees | 12% |
| 1,000 - 10,000 employees | 28% |
| > 10,000 employees | 13% |
Loan processor jobs by company type
Employees with the loan processor job title have their preferences when it comes to working for a company. For instance, most loan processors prefer to work at private companies over public companies.
Loan processor jobs by sector
| Company type | Percentages |
|---|---|
| Education | 0% |
| Public | 31% |
| Private | 68% |
| Government | 0% |
Loan processor jobs by industry
The most common industries for loan processors are finance, professional and real estate.
Loan processor industry statistics
| Industry | Percentages |
|---|---|
| Finance | 73% |
| Fortune 500 | 8% |
| Professional | 6% |
| Real Estate | 3% |
| Technology | 2% |
| Construction | 1% |
| Manufacturing | 1% |
| Start-up | 1% |
| Energy | 1% |
| Insurance | 1% |
Loan processor turnover and employment statistics
Loan processor unemployment rate over time
The unemployment rate for loan processors between 2008 and the most recent data has varied, according to the Bureau of Labor Statistics.
Loan processor unemployment rate by year
| Year | Loan processor 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 processor tenure
The average loan processor stays at their job for 1-2 years, based on the 36,342 loan processors resumes in Zippia's database.
Loan processor tenure statistics
| Number of years | Percentages |
|---|---|
| Less than 1 year | 26% |
| 1-2 years | 42% |
| 3-4 years | 15% |
| 5-7 years | 11% |
| 8-10 years | 4% |
| 11+ years | 4% |
Loan processor LGBT ratio compared to similar jobs
Review the percent of loan processors 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 |
|---|---|---|
| Contact Officer | 6.73% | 56,957 |
| Loan Processor | 6.78% | - |
| Patient Registrar | 7.19% | 86,721 |
| Cut File Clerk | 8.60% | 66,500 |
| Credit Charge Authorizer | 8.99% | 10,195 |
| Library Aide | 11.16% | 40,987 |
| Recruiting Assistant | 15.31% | 20,862 |
Similar loan processor jobs LGBT demographics
| Profession | Percentages of LGBT | Job openings |
|---|---|---|
| Contact Officer | 6.73% | 56,957 |
| Patient Registrar | 7.19% | 86,721 |
| Cut File Clerk | 8.60% | 66,500 |
| Credit Charge Authorizer | 8.99% | 10,195 |
| Library Aide | 11.16% | 40,987 |
| Recruiting Assistant | 15.31% | 20,862 |
Foreign languages spoken by loan processors
The most common foreign language among loan processors is Spanish at 67.0%. The second-most popular foreign language spoken is French at 5.1% and Mandarin is the third-most popular at 3.8%.
- Spanish, 67.0%
- French, 5.1%
- Mandarin, 3.8%
- Chinese, 3.0%
- Portuguese, 2.1%
- Other, 19.0%
Loan processor languages spoken
| Foreign language | Percentages |
|---|---|
| Spanish | 67.0% |
| French | 5.1% |
| Mandarin | 3.8% |
| Chinese | 3.0% |
| Portuguese | 2.1% |
| Other | 19.0% |
