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The differences between transaction coordinators and loan assistants can be seen in a few details. Each job has different responsibilities and duties. It typically takes 2-4 years to become both a transaction coordinator and a loan assistant. Additionally, a transaction coordinator has an average salary of $41,792, which is higher than the $36,962 average annual salary of a loan assistant.
The top three skills for a transaction coordinator include customer service, MLS and escrow companies. The most important skills for a loan assistant are customer service, loan applications, and mortgage loans.
| Transaction Coordinator | Loan Assistant | |
| Yearly salary | $41,792 | $36,962 |
| Hourly rate | $20.09 | $17.77 |
| Growth rate | -3% | -3% |
| Number of jobs | 16,804 | 8,923 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 54% | Bachelor's Degree, 51% |
| Average age | 42 | 42 |
| Years of experience | 4 | 4 |
A transaction coordinator is responsible for performing administrative and clerical duties for the clients regarding their real estate contracts and transactions. Transaction coordinators sometimes do fieldwork to inspect the property area, write findings reports, perform cost and expenses analysis, and inform the clients of required documentation. They also identify resources and other alternatives that would most likely fit the client's budget limitations and interests. A transaction coordinator must have excellent organizational and communication skills, especially in coordinating with other organizations to process the client's requirements for property acquisition.
Loan assistants act as support primarily to loan officers in preparing, reviewing, and verifying account documentation pertinent to loans. Also, ensuring the completeness of the loan files and that all collateral has been properly secured. In addition, loan assistants update collateral values on commercial and residential real estate loans as assigned by senior management. They stay within the guidelines established by bank policy and maintain the highest level of confidentiality with all information obtained.
Transaction coordinators and loan assistants have different pay scales, as shown below.
| Transaction Coordinator | Loan Assistant | |
| Average salary | $41,792 | $36,962 |
| Salary range | Between $30,000 And $57,000 | Between $28,000 And $47,000 |
| Highest paying City | White Plains, NY | Olympia, WA |
| Highest paying state | New York | Washington |
| Best paying company | JPMorgan Chase & Co. | University of California, Berkeley |
| Best paying industry | Finance | Finance |
There are a few differences between a transaction coordinator and a loan assistant in terms of educational background:
| Transaction Coordinator | Loan Assistant | |
| Most common degree | Bachelor's Degree, 54% | Bachelor's Degree, 51% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between transaction coordinators' and loan assistants' demographics:
| Transaction Coordinator | Loan Assistant | |
| Average age | 42 | 42 |
| Gender ratio | Male, 19.0% Female, 81.0% | Male, 18.2% Female, 81.8% |
| Race ratio | Black or African American, 9.7% Unknown, 4.3% Hispanic or Latino, 19.3% Asian, 6.8% White, 59.6% American Indian and Alaska Native, 0.4% | Black or African American, 12.2% Unknown, 4.3% Hispanic or Latino, 15.4% Asian, 7.4% White, 60.2% American Indian and Alaska Native, 0.4% |
| LGBT Percentage | 7% | 7% |