Loan Processor Salary With Commission
Loan processors are in high demand, which means that if you’re looking for a job as a loan processor, it’s likely you’ll be able to find one. Loan processors work with many different types of loans, from automobile loans to personal loans and even home mortgages. They make sure that all the paperwork is filed correctly and on time, and they ensure that the lender receives all the information they need to process the loan.
Loan processor salaries vary based on location (urban vs rural), experience level, and company size. Loan processors can also earn commission based on how much money they bring in for their company through loans processed.
Loan processor salaries can vary widely based on the experience and location of the loan processor, as well as other factors.
In general, it is possible to earn a salary in the range of $48,000-$63,000 and up to $117,000 with commission.
Loan Processor Salary With Commission
Annual Salary | Monthly Pay | Weekly Pay | Hourly Wage | |
|---|---|---|---|---|
| Top Earners | $75,000 | $6,250 | $1,442 | $36 |
| 75th Percentile | $60,000 | $5,000 | $1,153 | $29 |
| Average | $52,145 | $4,345 | $1,002 | $25 |
| 25th Percentile | $36,500 | $3,041 | $701 | $18 |
How much does a Commission Loan Processor make?
As of Jun 20, 2022, the average monthly pay for a Commission Loan Processor in the United States is $4,345 a month.
While ZipRecruiter is seeing monthly salaries as high as $7,667 and as low as $1,708, the majority of Commission Loan Processor salaries currently range between $3,042 (25th percentile) to $5,000 (75th percentile) across the United States. The average pay range for a Commission Loan Processor varies greatly (by as much as $1,958), which suggests there may be many opportunities for advancement and increased pay based on skill level, location and years of experience.
Based on recent job posting activity on ZipRecruiter, the Commission Loan Processor job market in both Lagos, NG and throughout the entire state of is not very active as few companies are currently hiring. A Commission Loan Processor in your area makes on average $4,348 per month, or $3 (0%) more than the national average monthly salary of $4,345. ranks number 1 out of 50 states nationwide for Commission Loan Processor salaries.
To estimate the most accurate monthly salary range for Commission Loan Processor jobs, ZipRecruiter continuously scans its database of millions of active jobs published locally throughout America.
Find your next high paying job as a Commission Loan Processor on ZipRecruiter today.
What are Top 10 Highest Paying Cities for Commission Loan Processor Jobs
We’ve identified 10 cities where the typical salary for a Commission Loan Processor job is above the national average. Topping the list is San Francisco, CA, with Fremont, CA and San Jose, CA close behind in the second and third positions. San Jose, CA beats the national average by $8,207 (15.7%), and San Francisco, CA furthers that trend with another $12,044 (23.1%) above the $52,145 average.
With these 10 cities having average salaries higher than the national average, the opportunities for economic advancement by changing locations as a Commission Loan Processor appears to be exceedingly fruitful.
Finally, another factor to consider is the average salary for these top ten cities varies very little at 10% between San Francisco, CA and Barnstable Town, MA, reinforcing the limited potential for much wage advancement. The possibility of a lower cost of living may be the best factor to use when considering location and salary for a Commission Loan Processor role.
| City | Annual Salary | Monthly Pay | Weekly Pay | Hourly Wage |
|---|---|---|---|---|
| San Francisco, CA | $64,190 | $5,349 | $1,234 | $30.86 |
| Fremont, CA | $62,550 | $5,212 | $1,203 | $30.07 |
| San Jose, CA | $60,352 | $5,029 | $1,161 | $29.02 |
| Oakland, CA | $59,747 | $4,979 | $1,149 | $28.72 |
| Jackson, WY | $59,652 | $4,971 | $1,147 | $28.68 |
| Hayward, CA | $58,607 | $4,884 | $1,127 | $28.18 |
| Sunnyvale, CA | $58,426 | $4,869 | $1,124 | $28.09 |
| Seattle, WA | $58,309 | $4,859 | $1,121 | $28.03 |
| Vallejo, CA | $58,225 | $4,852 | $1,120 | $27.99 |
| Barnstable Town, MA | $57,980 | $4,832 | $1,115 | $27.87 |
