Explore jobs
Find specific jobs
Explore careers
Explore professions
Best companies
Explore companies
Loan closer salary
Average loan closer salary
$39,093
Understanding Loan Closer Salaries
The average salary for a Loan Closer is approximately $39,093 per year, translating to about $19 per hour. This figure can vary based on several factors, including experience, location, and company size.
Experience Levels
Entry-level positions typically start around $30,000, while experienced Loan Closers can earn upwards of $50,000 annually. With additional certifications and expertise in specific loan types, professionals may secure even higher wages.
Regional Variations
Loan Closers in states like California and New York often enjoy higher salaries compared to those in less populated states. For example, in California, salaries can reach $45,000 or more, reflecting the demand for skilled professionals in bustling markets.
Job Opportunities
Many Loan Closers are employed by banks, credit unions, and mortgage companies. As the housing market evolves, job prospects remain strong, with opportunities for advancement into management or specialized roles. By understanding salary trends, aspiring Loan Closers can make informed decisions about their career paths.
Let Zippi find your next loan closer job
Let Zippi find your next loan closer job
Where can a Loan Closer earn more?
Loan closer salaries by experience level
Loan closer salary estimates from across the web
Average loan closer salary by state
The highest-paying states for loan closers are Washington, West Virginia, and North Carolina. The lowest average loan closer salary states are Mississippi, South Carolina, and South Dakota.
- State view
- County view
Highest paying states for loan closers
| Rank | State | Avg. salary | Hourly rate |
|---|---|---|---|
| 1 | Arizona | $44,820 | $21.55 |
| 2 | Washington | $55,516 | $26.69 |
| 3 | New Jersey | $47,637 | $22.90 |
| 4 | Arkansas | $44,655 | $21.47 |
| 5 | Colorado | $44,742 | $21.51 |
| 6 | West Virginia | $50,244 | $24.16 |
| 7 | North Carolina | $49,647 | $23.87 |
| 8 | Rhode Island | $42,360 | $20.37 |
| 9 | Kentucky | $44,331 | $21.31 |
| 10 | California | $48,841 | $23.48 |
| 11 | Minnesota | $42,262 | $20.32 |
| 12 | Delaware | $42,543 | $20.45 |
| 13 | Tennessee | $41,598 | $20.00 |
| 14 | Alabama | $40,542 | $19.49 |
| 15 | Kansas | $43,279 | $20.81 |
| 16 | Texas | $40,789 | $19.61 |
| 17 | North Dakota | $39,470 | $18.98 |
| 18 | New York | $45,880 | $22.06 |
| 19 | Oregon | $43,321 | $20.83 |
| 20 | Vermont | $40,971 | $19.70 |
| 21 | Wisconsin | $41,089 | $19.75 |
| 22 | Massachusetts | $44,846 | $21.56 |
| 23 | Wyoming | $38,960 | $18.73 |
| 24 | Maryland | $44,249 | $21.27 |
| 25 | Louisiana | $41,099 | $19.76 |
| 26 | Nevada | $39,905 | $19.19 |
| 27 | Hawaii | $41,845 | $20.12 |
| 28 | Oklahoma | $40,915 | $19.67 |
| 29 | Alaska | $41,371 | $19.89 |
| 30 | Illinois | $40,736 | $19.58 |
| 31 | Michigan | $39,032 | $18.77 |
| 32 | Utah | $38,180 | $18.36 |
| 33 | Indiana | $39,096 | $18.80 |
| 34 | Georgia | $40,000 | $19.23 |
| 35 | Connecticut | $41,570 | $19.99 |
| 36 | Florida | $37,611 | $18.08 |
| 37 | Ohio | $37,299 | $17.93 |
| 38 | Montana | $37,956 | $18.25 |
| 39 | South Dakota | $36,750 | $17.67 |
| 40 | Virginia | $40,908 | $19.67 |
| 41 | Maine | $36,618 | $17.60 |
| 42 | Iowa | $37,425 | $17.99 |
| 43 | New Mexico | $39,441 | $18.96 |
| 44 | Mississippi | $37,005 | $17.79 |
| 45 | New Hampshire | $39,898 | $19.18 |
| 46 | Pennsylvania | $37,577 | $18.07 |
| 47 | Idaho | $37,328 | $17.95 |
| 48 | South Carolina | $36,795 | $17.69 |
| 49 | Missouri | $35,193 | $16.92 |
| 50 | Nebraska | $35,904 | $17.26 |
| 51 | District of Columbia | $33,031 | $15.88 |
Highest paying cities for loan closers
The highest-paying cities for loan closers are Bellevue, WA, San Jose, CA, and Charlotte, NC.
| Rank | City | Avg. salary | Hourly rate |
|---|---|---|---|
| 1 | Bellevue, WA | $55,585 | $26.72 |
| 2 | San Jose, CA | $49,912 | $24.00 |
| 3 | Charlotte, NC | $49,410 | $23.75 |
| 4 | Jersey City, NJ | $47,556 | $22.86 |
| 5 | New York, NY | $46,008 | $22.12 |
| 6 | Phoenix, AZ | $44,925 | $21.60 |
| 7 | Englewood, CO | $44,756 | $21.52 |
| 8 | Boston, MA | $44,723 | $21.50 |
| 9 | Overland Park, KS | $43,142 | $20.74 |
| 10 | Portland, OR | $43,041 | $20.69 |
| 11 | Saint Paul, MN | $42,291 | $20.33 |
| 12 | Bridgeport, CT | $41,720 | $20.06 |
| 13 | San Antonio, TX | $41,045 | $19.73 |
| 14 | Madison, WI | $40,938 | $19.68 |
| 15 | Chicago, IL | $40,826 | $19.63 |
| 16 | Richmond, VA | $40,818 | $19.62 |
| 17 | Madison, AL | $40,368 | $19.41 |
| 18 | Atlanta, GA | $40,059 | $19.26 |
| 19 | Troy, MI | $39,076 | $18.79 |
| 20 | Indianapolis, IN | $39,006 | $18.75 |
Loan closer salary details
A loan closer's salary ranges from $30,000 a year at the 10th percentile to $50,000 at the 90th percentile.
What is a loan closer's salary?
| Percentile | Annual salary | Monthly salary | Hourly rate |
|---|---|---|---|
| 90th Percentile | $50,000 | $4,167 | $24 |
| 75th Percentile | $44,000 | $3,667 | $21 |
| Average | $39,093 | $3,258 | $19 |
| 25th Percentile | $34,000 | $2,833 | $16 |
| 10th Percentile | $30,000 | $2,500 | $14 |
Highest paying loan closer jobs
The highest paying types of loan closers are loan servicing specialist, senior loan processor, and loan officer.
| Job title | Annual salary | Monthly salary | Hourly rate | Job openings |
|---|---|---|---|---|
| Processor | $32,098 | $2,675 | $15.43 | 11,448 |
| Closing Coordinator | $39,066 | $3,256 | $18.78 | 19,203 |
| Document Processor | $32,730 | $2,727 | $15.74 | 8,761 |
| Mortgage Processor | $40,527 | $3,377 | $19.48 | 9,057 |
| Mortgage Loan Processor | $43,594 | $3,633 | $20.96 | 16,276 |
| Loan Administrator | $42,859 | $3,572 | $20.61 | 63,708 |
Top companies hiring loan closers now:
Which companies pay loan closers the most?
Loan closer salaries at Tata Group and JPMorgan Chase & Co. are the highest-paying according to our most recent salary estimates. In addition, the average loan closer salary at companies like Tompkins Insurance and CyberCoders are highly competitive.
| Rank | Company | Average salary | Hourly rate |
|---|---|---|---|
| 1 | Tata Group | $70,520 | $33.90 |
| 2 | JPMorgan Chase & Co. | $51,730 | $24.87 |
| 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 |
| 8 | Primis Bank | $43,980 | $21.14 |
| 9 | Community First Credit Union | $43,575 | $20.95 |
| 10 | Woodforest Financial Group Inc | $43,242 | $20.79 |
| 11 | Teachers Insurance & Annuity Association of America | $43,163 | $20.75 |
| 12 | PNMAC Holdings, Inc. | $43,161 | $20.75 |
| 13 | Symetra | $43,125 | $20.73 |
| 14 | CareerBuilder | $43,101 | $20.72 |
| 15 | GreenState Credit Union | $43,081 | $20.71 |
| 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 |
Wage gap by gender, race and education
Loan closer salary trends
The average loan closer salary has risen by $6,190 over the last ten years. In 2014, the average loan closer earned $32,903 annually, but today, they earn $39,093 a year. That works out to a 7% change in pay for loan closers over the last decade.
Compare loan closer salaries for cities or states with the national average over time.
Average loan closer salary over time
Compare loan closer salaries for individual cities or states with the national average.
Loan closer salary by year
| Year | Avg. salary | Hourly rate | % Change |
|---|---|---|---|
| 2025 | $39,100 | $18.79 | +1.8% |
| 2024 | $38,400 | $18.46 | +1.8% |
| 2023 | $37,700 | $18.12 | +2.1% |
| 2022 | $36,900 | $17.75 | +1.1% |
| 2021 | $36,500 | $17.55 | +2.4% |
Recently added loan closer salaries
| Company | Job | Location | Date added | Salary |
|---|---|---|---|---|
| Tomo | Mortgage Loan Closer | New York, NY | 06/29/2025 | $60,000 |
| Blaze Credit Union | Mortgage Closer | Falcon Heights, MN | 06/28/2025 | $56,808 |
| Tomo | Mortgage Loan Closer | Seattle, WA | 06/28/2025 | $60,000 |
| Webster Bank Group | Associate Residential & Consumer Loan Closer | Southington, CT | 06/27/2025 | $50,088 |
| Teksystems | SR. Mortgage Closer | Phoenix, AZ | 06/26/2025 | $54,262 |
| Teksystems | Mortgage Closer | Moorpark, CA | 06/26/2025 | $50,088 |
| Sofi | Home Equity Loan Closer | Charlotte, NC | 06/25/2025 | $53,427 |
| Teksystems | Loan Closer (Onsite) | Plano, TX | 06/25/2025 | $48,001 |
| Old National Bank | Mortgage Closer-7 Positions Available In Multiple Locations | Evansville, IN | 06/21/2025 | $38,088 |
| Old National Bank | Mortgage Closer-7 Positions Available In Multiple Locations | Tecumseh, MI | 06/18/2025 | $38,088 |
Loan closer salary FAQs
Search for loan closer jobs