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Loan services representative salary
Average loan services representative salary
$38,603
Average Loan Services Representative Salary
The average salary for a Loan Services Representative is approximately $38,603 per year, translating to about $19 per hour. This figure varies based on factors such as experience, geographic location, and specific employers. Entry-level representatives can expect a starting salary around $30,000, while those with more experience can earn upwards of $50,000.
Salary by Experience Level
As professionals gain experience, their earning potential increases significantly. Those with 1-3 years of experience typically earn around $35,000, while representatives with over 5 years can command salaries exceeding $45,000. This progression illustrates the benefits of investing time in skill development and networking within the industry.
Top-Paying States
Regions like California and New York consistently offer higher salaries for Loan Services Representatives, with averages reaching $50,000 or more. These states have a higher demand for financial services, which drives up compensation rates. Understanding where to apply can significantly impact your earnings.
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Where can a Loan Services Representative earn more?
Loan services representative salaries by experience level
Loan services representative salary estimates from across the web
Average loan services representative salary by state
The highest-paying states for loan services representatives are New York, New Jersey, and Maryland. The lowest average loan services representative salary states are South Carolina, Nebraska, and Tennessee.
- State view
- County view
Highest paying states for loan services representatives
| Rank | State | Avg. salary | Hourly rate |
|---|---|---|---|
| 1 | New Jersey | $73,774 | $35.47 |
| 2 | Rhode Island | $68,808 | $33.08 |
| 3 | New York | $76,542 | $36.80 |
| 4 | New Hampshire | $64,232 | $30.88 |
| 5 | Maine | $55,761 | $26.81 |
| 6 | Pennsylvania | $59,994 | $28.84 |
| 7 | Vermont | $62,350 | $29.98 |
| 8 | Delaware | $66,487 | $31.96 |
| 9 | West Virginia | $69,685 | $33.50 |
| 10 | Maryland | $73,640 | $35.40 |
| 11 | Massachusetts | $68,411 | $32.89 |
| 12 | Oregon | $56,125 | $26.98 |
| 13 | Connecticut | $67,377 | $32.39 |
| 14 | California | $64,831 | $31.17 |
| 15 | Illinois | $56,684 | $27.25 |
| 16 | Washington | $56,838 | $27.33 |
| 17 | Colorado | $52,277 | $25.13 |
| 18 | Kentucky | $54,416 | $26.16 |
| 19 | Minnesota | $49,912 | $24.00 |
| 20 | Iowa | $47,446 | $22.81 |
| 21 | Arizona | $48,120 | $23.13 |
| 22 | Indiana | $52,906 | $25.44 |
| 23 | Virginia | $55,218 | $26.55 |
| 24 | Ohio | $52,058 | $25.03 |
| 25 | Nevada | $50,163 | $24.12 |
| 26 | Wisconsin | $55,380 | $26.63 |
| 27 | Texas | $49,182 | $23.65 |
| 28 | Arkansas | $47,951 | $23.05 |
| 29 | Michigan | $53,288 | $25.62 |
| 30 | Hawaii | $49,622 | $23.86 |
| 31 | North Dakota | $48,101 | $23.13 |
| 32 | Utah | $45,893 | $22.06 |
| 33 | Idaho | $47,303 | $22.74 |
| 34 | Alaska | $51,984 | $24.99 |
| 35 | North Carolina | $49,422 | $23.76 |
| 36 | Montana | $46,236 | $22.23 |
| 37 | Kansas | $47,860 | $23.01 |
| 38 | South Dakota | $43,130 | $20.74 |
| 39 | Louisiana | $44,518 | $21.40 |
| 40 | District of Columbia | $50,830 | $24.44 |
| 41 | Georgia | $43,616 | $20.97 |
| 42 | South Carolina | $40,877 | $19.65 |
| 43 | Mississippi | $39,995 | $19.23 |
| 44 | Oklahoma | $44,137 | $21.22 |
| 45 | Tennessee | $40,508 | $19.48 |
| 46 | Florida | $37,895 | $18.22 |
| 47 | Wyoming | $44,237 | $21.27 |
| 48 | New Mexico | $44,514 | $21.40 |
| 49 | Missouri | $36,898 | $17.74 |
| 50 | Alabama | $43,697 | $21.01 |
| 51 | Nebraska | $40,804 | $19.62 |
Highest paying cities for loan services representatives
The highest-paying cities for loan services representatives are Baltimore, MD, Queensbury, NY, and Barnstable Town, MA.
| Rank | City | Avg. salary | Hourly rate |
|---|---|---|---|
| 1 | Baltimore, MD | $75,776 | $36.43 |
| 2 | Queensbury, NY | $74,726 | $35.93 |
| 3 | Barnstable Town, MA | $70,732 | $34.01 |
| 4 | Newtown, CT | $68,206 | $32.79 |
| 5 | Inglewood, CA | $63,181 | $30.38 |
| 6 | Allentown, PA | $60,410 | $29.04 |
| 7 | Gurnee, IL | $57,567 | $27.68 |
| 8 | Vancouver, WA | $56,985 | $27.40 |
| 9 | Madison, WI | $53,764 | $25.85 |
| 10 | Denver, CO | $51,899 | $24.95 |
| 11 | Raleigh, NC | $51,107 | $24.57 |
| 12 | Minneapolis, MN | $49,377 | $23.74 |
| 13 | Irving, TX | $49,096 | $23.60 |
| 14 | Tempe, AZ | $47,953 | $23.05 |
| 15 | Cincinnati, OH | $45,950 | $22.09 |
| 16 | Layton, UT | $45,307 | $21.78 |
| 17 | Casper, WY | $43,615 | $20.97 |
| 18 | Atlanta, GA | $43,461 | $20.89 |
| 19 | Birmingham, AL | $43,241 | $20.79 |
| 20 | Jacksonville, FL | $38,927 | $18.71 |
Loan services representative salary details
A loan services representative's salary ranges from $15,000 a year at the 10th percentile to $98,000 at the 90th percentile.
What is a loan services representative's salary?
| Percentile | Annual salary | Monthly salary | Hourly rate |
|---|---|---|---|
| 90th Percentile | $98,000 | $8,167 | $47 |
| 75th Percentile | $63,000 | $5,250 | $30 |
| Average | $38,603 | $3,217 | $19 |
| 25th Percentile | $23,000 | $1,917 | $11 |
| 10th Percentile | $15,000 | $1,250 | $7 |
Highest paying loan services representative jobs
The highest paying types of loan services representatives are loan servicing specialist, accounting representative, and loss mitigation specialist.
| Job title | Annual salary | Monthly salary | Hourly rate | Job openings |
|---|---|---|---|---|
| Loan Coordinator | $39,836 | $3,320 | $19.15 | 24,765 |
| Loan Processor | $38,122 | $3,177 | $18.33 | 16,228 |
| Collections Representative | $34,015 | $2,835 | $16.35 | 85,275 |
| Representative | $36,023 | $3,002 | $17.32 | 252,761 |
| Accounting Representative | $43,876 | $3,656 | $21.09 | 111,415 |
| Account Representative | $36,977 | $3,081 | $17.78 | 183,446 |
Top companies hiring loan services representatives now:
Which companies pay loan services representatives the most?
Loan services representative salaries at Jersey Shore State Bank and CB&S; Bank are the highest-paying according to our most recent salary estimates. In addition, the average loan services representative salary at companies like Northwest Bank and Spencer Savings Bank are highly competitive.
| Rank | Company | Average salary | Hourly rate |
|---|---|---|---|
| 1 | Jersey Shore State Bank | $149,029 | $71.65 |
| 2 | CB&S Bank | $123,611 | $59.43 |
| 3 | Northwest Bank | $84,606 | $40.68 |
| 4 | Spencer Savings Bank | $81,214 | $39.05 |
| 5 | Newtown Savings Bank | $81,104 | $38.99 |
| 6 | Commerce Bank | $74,614 | $35.87 |
| 7 | Air Products | $71,133 | $34.20 |
| 8 | Bank of America | $63,945 | $30.74 |
| 9 | Richmond American Homes | $63,593 | $30.57 |
| 10 | Wells Fargo | $62,578 | $30.09 |
| 11 | Riverview Community Bank | $58,240 | $28.00 |
| 12 | City Bank & Trust | $57,158 | $27.48 |
| 13 | 1st Security Bank | $56,153 | $27.00 |
| 14 | The Cape Cod Five Cents Savings Bank | $55,696 | $26.78 |
| 15 | Glacier Ban | $54,999 | $26.44 |
| 16 | Wayne Savings Community Bank | $54,248 | $26.08 |
| 17 | Mid Penn Bank | $52,252 | $25.12 |
| 18 | Cambridge Trust | $50,445 | $24.25 |
| 19 | BankFinancial | $48,890 | $23.50 |
| 20 | Schools | $47,369 | $22.77 |
Wage gap by gender, race and education
Loan services representative salary trends
The average loan services representative salary has risen by $6,112 over the last ten years. In 2014, the average loan services representative earned $32,491 annually, but today, they earn $38,603 a year. That works out to a 7% change in pay for loan services representatives over the last decade.
Compare loan services representative salaries for cities or states with the national average over time.
Average loan services representative salary over time
Compare loan services representative salaries for individual cities or states with the national average.
Loan services representative salary by year
| Year | Avg. salary | Hourly rate | % Change |
|---|---|---|---|
| 2025 | $38,600 | $18.56 | +1.8% |
| 2024 | $37,900 | $18.23 | +1.8% |
| 2023 | $37,200 | $17.90 | +2.1% |
| 2022 | $36,400 | $17.52 | +1.1% |
| 2021 | $36,000 | $17.33 | +2.4% |
Recently added loan services representative salaries
| Company | Job | Location | Date added | Salary |
|---|---|---|---|---|
| Axos Bank | Loan Servicing Representative | Las Vegas, NV | 06/30/2025 | $35,479 |
| Northrop Grumman Federal Credi | Loan Servicing Representative | Gardena, CA | 06/29/2025 | $46,832 |
| Schoolsfirst Fcu | Consumer Loan Service Delivery Representative, Originations | Riverside, CA | 06/29/2025 | $41,740 |
| Schools Financial | Consumer Loan Service Delivery Representative III, Originations | Riverside, CA | 06/28/2025 | $50,505 |
| FS Bancorp, Inc. | Loan Servicing Support-Collateral & Payoffs Representative I | Mountlake Terrace, WA | 06/17/2025 | $41,740 |
| Experience Champaign Urbana | Loan Servicing Representative-Paid Off Loan Processing | Springfield, IL | 06/16/2025 | $33,392 |
| Dean Bank | Loan Servicing Representative | Franklin Town, MA | 06/13/2025 | $57,900 |
| Illinois Agricultural Association | Loan Servicing Representative-Iaacu | Bloomington, IL | 06/03/2025 | $34,400 |
| Provident Financial Services | Loan Servicing Representative III-Escrow Processing | Woodbridge, NJ | 06/03/2025 | $46,457 |
| Find Great People | FGP | Loan Service Representative | Chesapeake, VA | 05/30/2025 | $31,305 |
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