Q: Do loan processors make good money?

Yes, loan processors make good money. A loan processor's average annual salary is $41,782 or $20.09 per hour. On the lower end of the salary range, you may only make around $33,000, usually for entry-level positions. On the higher end, you can make around $52,000. Senior-level positions can earn you an average salary of $61,300 or more compared to mid-level positions of $45,000.

Q: Do mortgage loan processors make commission?

Yes, mortgage loan processors can make commissions. It is dependent on their employer. Some employers may offer the option of being paid per loan funded or offer a base salary plus a bonus for a certain number of loans funded per month.

Q: Is mortgage loan processor a good job?

Yes, being a mortgage loan processor is a good job. It has steady employment growth and a generally good salary. Mortgage loan processors make $41,782 in average yearly salary or $20.09 per hour. On the lower end of the salary range, you may only make around $33,000, usually for entry-level positions.

Question 1

How much does a mortgage loan processor make?

Accepted Answer

The average mortgage loan processor salary in the United States is $43,594. Mortgage loan processor salaries typically range between $33,000 and $57,000 yearly. The average hourly rate for mortgage loan processors is $20.96 per hour.

Mortgage loan processor salary is impacted by location, education, and experience. Mortgage loan processors earn the highest average salary in Massachusetts.

Question 2

What state pays Mortgage Loan Processors the most?

Accepted Answer

Massachusetts pays Mortgage Loan Processors the most in the United States, with an average salary of $58,533 per year, or $28.14 per hour.

Question 3

How do I know if I'm being paid fairly as a mortgage loan processor?

Accepted Answer

You know if you are being paid fairly as a mortgage loan processor if your pay is close to the average pay for the state you live in. For example, if you live in California you should be paid close to $57,205 per year.

Question 4

Do loan processors make good money?

Accepted Answer

Yes, loan processors make good money. A loan processor's average annual salary is $41,782 or $20.09 per hour.

On the lower end of the salary range, you may only make around $33,000, usually for entry-level positions. On the higher end, you can make around $52,000. Senior-level positions can earn you an average salary of $61,300 or more compared to mid-level positions of $45,000.

Question 5

Do mortgage loan processors make commission?

Accepted Answer

Yes, mortgage loan processors can make commissions. It is dependent on their employer.

Some employers may offer the option of being paid per loan funded or offer a base salary plus a bonus for a certain number of loans funded per month.

Question 6

How much do mortgage loan processors make?

Accepted Answer

Mortgage loan processors make $41,782 in average yearly salary or $20.09 per hour.

On the lower end of the salary range, you may only make around $33,000, usually for entry-level positions. On the higher end, you can make around $52,000. Senior-level positions can earn an average salary of $61,300 or more compared to mid-level positions of $45,000.

Question 7

How much does the average loan processor make?

Accepted Answer

The average loan processor makes $18.64/hr ($44,742 a year). However, this can range from as low as $14.53/hr ($34,000 annually) to as high as $24.91/hr ($59,000 a year). Factors such as experience and location impact how much a loan processor can make.

Question 8

Is mortgage loan processor a good job?

Accepted Answer

Yes, being a mortgage loan processor is a good job. It has steady employment growth and a generally good salary.

Mortgage loan processors make $41,782 in average yearly salary or $20.09 per hour. On the lower end of the salary range, you may only make around $33,000, usually for entry-level positions.

Rank	State	Avg. salary	Hourly rate
1	Rhode Island	$50,446	$24.25
2	Michigan	$49,699	$23.89
3	Delaware	$49,748	$23.92
4	Maryland	$56,652	$27.24
5	Texas	$47,997	$23.08
6	California	$57,205	$27.50
7	Arizona	$46,163	$22.19
8	New York	$57,177	$27.49
9	North Carolina	$48,712	$23.42
10	Massachusetts	$58,533	$28.14
11	West Virginia	$55,580	$26.72
12	New Jersey	$50,836	$24.44
13	Washington	$49,894	$23.99
14	Utah	$44,224	$21.26
15	Florida	$45,017	$21.64
16	Illinois	$46,604	$22.41
17	Nevada	$43,673	$21.00
18	Connecticut	$49,438	$23.77
19	Kansas	$43,705	$21.01
20	Colorado	$45,737	$21.99
21	Hawaii	$49,908	$23.99
22	Idaho	$42,963	$20.66
23	Oklahoma	$44,489	$21.39
24	Alabama	$42,763	$20.56
25	Indiana	$42,619	$20.49
26	New Hampshire	$45,653	$21.95
27	Wyoming	$40,802	$19.62
28	Vermont	$45,225	$21.74
29	Ohio	$41,333	$19.87
30	Oregon	$45,647	$21.95
31	Minnesota	$42,013	$20.20
32	Mississippi	$41,908	$20.15
33	Tennessee	$40,821	$19.63
34	Virginia	$46,369	$22.29
35	Pennsylvania	$42,678	$20.52
36	Alaska	$43,292	$20.81
37	North Dakota	$40,579	$19.51
38	Georgia	$42,371	$20.37
39	New Mexico	$42,215	$20.30
40	Wisconsin	$41,260	$19.84
41	South Dakota	$38,192	$18.36
42	South Carolina	$40,354	$19.40
43	Louisiana	$41,640	$20.02
44	Maine	$40,364	$19.41
45	Iowa	$39,134	$18.81
46	Kentucky	$39,399	$18.94
47	Missouri	$38,702	$18.61
48	Arkansas	$39,800	$19.13
49	Nebraska	$37,915	$18.23
50	Montana	$38,697	$18.60
51	District of Columbia	$37,918	$18.23

Rank	City	Avg. salary	Hourly rate
1	San Francisco, CA	$59,764	$28.73
2	Boston, MA	$58,396	$28.07
3	New York, NY	$57,389	$27.59
4	Baltimore, MD	$56,878	$27.35
5	Trenton, NJ	$50,886	$24.46
6	Seattle, WA	$50,214	$24.14
7	Detroit, MI	$49,974	$24.03
8	Wilmington, DE	$49,818	$23.95
9	Raleigh, NC	$49,071	$23.59
10	San Antonio, TX	$48,601	$23.37
11	Chicago, IL	$46,759	$22.48
12	Eugene, OR	$46,394	$22.30
13	Phoenix, AZ	$46,303	$22.26
14	Colorado Springs, CO	$46,164	$22.19
15	Richmond, VA	$46,076	$22.15
16	Reno, NV	$45,109	$21.69
17	Tampa, FL	$45,053	$21.66
18	Salt Lake City, UT	$43,946	$21.13
19	Philadelphia, PA	$43,060	$20.70
20	Cleveland, OH	$42,459	$20.41

Percentile	Annual salary	Monthly salary	Hourly rate
90th Percentile	$57,000	$4,750	$27
75th Percentile	$50,000	$4,167	$24
Average	$43,594	$3,633	$21
25th Percentile	$37,000	$3,083	$18
10th Percentile	$33,000	$2,750	$16

Job title	Annual salary	Monthly salary	Hourly rate	Job openings
Post Closer	$38,045	$3,170	$18.29	10,407
Loan Analyst	$37,857	$3,155	$18.20	24,756
Loan Closer	$39,093	$3,258	$18.79	11,431
Loan Coordinator	$39,836	$3,320	$19.15	24,765
Loan Originator	$41,291	$3,441	$19.85	10,716
Loan Officer	$45,817	$3,818	$22.03	63,663

Rank	Company	Average salary	Hourly rate
1	Amplify Credit Union	$48,456	$23.30
2	Home Bancshares Inc.	$47,669	$22.92
3	CyberCoders	$46,774	$22.49
4	Mutual of Omaha	$46,743	$22.47
5	Jobot	$46,301	$22.26
6	M/I Homes	$46,087	$22.16
7	Aerotek	$45,795	$22.02
8	THE RIGHT STAFF	$45,637	$21.94
9	Caliper Family of Companies	$45,264	$21.76
10	Adecco	$45,101	$21.68
11	USAA	$44,946	$21.61
12	Cathay Bank	$44,741	$21.51
13	PulteGroup	$44,269	$21.28
14	Kelly Services	$44,183	$21.24
15	The Judge Group	$44,041	$21.17
16	ManpowerGroup	$43,935	$21.12
17	Randstad North America, Inc.	$43,542	$20.93
18	Prosperity Bank	$43,496	$20.91
19	ACS Solutions	$43,427	$20.88
20	Tech Credit Union	$43,379	$20.86

Mortgage loan processor salary

Average mortgage loan processor salary

$43,594

Average Mortgage Loan Processor Salary

Salary by Experience Level

Highest Paying States

Job Opportunities

Where can a Mortgage Loan Processor earn more?

Mortgage loan processor salaries by experience level