Explore jobs
Find specific jobs
Explore careers
Explore professions
Best companies
Explore companies
The differences between post closers and loan processors can be seen in a few details. Each job has different responsibilities and duties. It typically takes 2-4 years to become both a post closer and a loan processor. Additionally, a loan processor has an average salary of $38,122, which is higher than the $38,045 average annual salary of a post closer.
The top three skills for a post closer include loan packages, post-closer and FHA. The most important skills for a loan processor are loan applications, customer service, and property appraisals.
| Post Closer | Loan Processor | |
| Yearly salary | $38,045 | $38,122 |
| Hourly rate | $18.29 | $18.33 |
| Growth rate | -3% | -3% |
| Number of jobs | 10,407 | 16,228 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 41% | Bachelor's Degree, 46% |
| Average age | 42 | 42 |
| Years of experience | 4 | 4 |
Post closers require an associate degree or certification in addition to 1-3 years of related experience. Skills in customer support, document review, loan processing, quality assurance processing, and loan software are also necessary for this career. Port closers assist with the mortgage loan closing process by reviewing loan documents for compliance, completeness, and accuracy. They also find missing information, prepare files and provide internal and external customer support.
A loan processor is responsible for assisting customers with their loan requests, ensuring their eligibility, and choosing the best loan options for their needs. Loan processors carefully review loan application documents and prepare loan proposals for underwriting, analyzing the applicant's financial status and credit scores, processing repayment plans, and adhering to banking and financial regulations. A loan processor must have excellent knowledge of the banking industry and processes to provide the best loan services for the customers efficiently and accurately.
Post closers and loan processors have different pay scales, as shown below.
| Post Closer | Loan Processor | |
| Average salary | $38,045 | $38,122 |
| Salary range | Between $29,000 And $48,000 | Between $28,000 And $50,000 |
| Highest paying City | San Ramon, CA | San Francisco, CA |
| Highest paying state | California | West Virginia |
| Best paying company | Amplify Credit Union | Stanford University |
| Best paying industry | Insurance | Finance |
There are a few differences between a post closer and a loan processor in terms of educational background:
| Post Closer | Loan Processor | |
| Most common degree | Bachelor's Degree, 41% | Bachelor's Degree, 46% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between post closers' and loan processors' demographics:
| Post Closer | Loan Processor | |
| Average age | 42 | 42 |
| Gender ratio | Male, 21.6% Female, 78.4% | Male, 20.6% Female, 79.4% |
| Race ratio | Black or African American, 13.4% Unknown, 4.2% Hispanic or Latino, 16.7% Asian, 6.6% White, 58.6% American Indian and Alaska Native, 0.4% | Black or African American, 12.5% Unknown, 4.3% Hispanic or Latino, 17.1% Asian, 7.4% White, 58.3% American Indian and Alaska Native, 0.4% |
| LGBT Percentage | 7% | 7% |