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This question is about loan processor salaries.
What is a good starting salary for a Loan Processor?
A good starting salary for a loan processor is $30,000 in the United States. That puts you in the 10th percentile of annual income for a loan processor in the U.S., which is about what you would expect if you were new to the field. The average salary for loan processors is $39,037, but that normally requires some level of experience to achieve. Furthermore, a good starting salary for a loan processor can vary by state, as we show below.
What Is A Good Entry-Level Loan Processor Salary By State?
The following table shows how much an entry level loan processor earns in each state. Zippia used data from the BLS, public records, and job postings to create these estimates.
| State | Starting Salary | Monthly Pay | Weekly Pay | Hourly Wage |
| West Virginia | $37,000 | $3,083 | $711 | $17.79 |
| Connecticut | $36,000 | $3,000 | $692 | $17.31 |
| New Hampshire | $36,000 | $3,000 | $692 | $17.31 |
| New Jersey | $35,000 | $2,916 | $673 | $16.83 |
| Hawaii | $35,000 | $2,916 | $673 | $16.83 |
| Rhode Island | $34,000 | $2,833 | $653 | $16.35 |
| California | $34,000 | $2,833 | $653 | $16.35 |
| Vermont | $34,000 | $2,833 | $653 | $16.35 |
| Nevada | $33,000 | $2,750 | $634 | $15.87 |
| Delaware | $33,000 | $2,750 | $634 | $15.87 |
| Virginia | $33,000 | $2,750 | $634 | $15.87 |
| Maryland | $33,000 | $2,750 | $634 | $15.87 |
| Washington | $33,000 | $2,750 | $634 | $15.87 |
| New York | $33,000 | $2,750 | $634 | $15.87 |
| Massachusetts | $33,000 | $2,750 | $634 | $15.87 |
| Arizona | $32,000 | $2,666 | $615 | $15.38 |
| Oregon | $32,000 | $2,666 | $615 | $15.38 |
| Alaska | $32,000 | $2,666 | $615 | $15.38 |
| North Carolina | $31,000 | $2,583 | $596 | $14.9 |
| Colorado | $31,000 | $2,583 | $596 | $14.9 |
| Pennsylvania | $30,000 | $2,500 | $576 | $14.42 |
| Oklahoma | $30,000 | $2,500 | $576 | $14.42 |
| Minnesota | $30,000 | $2,500 | $576 | $14.42 |
| North Dakota | $30,000 | $2,500 | $576 | $14.42 |
| Illinois | $30,000 | $2,500 | $576 | $14.42 |
| Michigan | $29,000 | $2,416 | $557 | $13.94 |
| Texas | $29,000 | $2,416 | $557 | $13.94 |
| Mississippi | $29,000 | $2,416 | $557 | $13.94 |
| Indiana | $29,000 | $2,416 | $557 | $13.94 |
| Kansas | $29,000 | $2,416 | $557 | $13.94 |
| Maine | $29,000 | $2,416 | $557 | $13.94 |
| Idaho | $29,000 | $2,416 | $557 | $13.94 |
| Ohio | $28,000 | $2,333 | $538 | $13.46 |
| Tennessee | $28,000 | $2,333 | $538 | $13.46 |
| Arkansas | $28,000 | $2,333 | $538 | $13.46 |
| Utah | $28,000 | $2,333 | $538 | $13.46 |
| New Mexico | $28,000 | $2,333 | $538 | $13.46 |
| Wisconsin | $28,000 | $2,333 | $538 | $13.46 |
| Kentucky | $27,000 | $2,250 | $519 | $12.98 |
| Missouri | $27,000 | $2,250 | $519 | $12.98 |
| Louisiana | $27,000 | $2,250 | $519 | $12.98 |
| South Carolina | $27,000 | $2,250 | $519 | $12.98 |
| Wyoming | $27,000 | $2,250 | $519 | $12.98 |
| South Dakota | $27,000 | $2,250 | $519 | $12.98 |
| Georgia | $27,000 | $2,250 | $519 | $12.98 |
| Nebraska | $27,000 | $2,250 | $519 | $12.98 |
| Florida | $26,000 | $2,166 | $500 | $12.5 |
| Iowa | $26,000 | $2,166 | $500 | $12.5 |
| Alabama | $25,000 | $2,083 | $480 | $12.02 |
| Montana | $25,000 | $2,083 | $480 | $12.02 |
| District of Columbia | $25,000 | $2,083 | $480 | $12.02 |
What are The 10 Highest Paying Cities for Entry-Level Loan Processor Jobs?
We've identified 10 cities where the typical salary for an entry level loan processor job is above the national average. Topping the list is Southington, CT.
| City | Starting Salary | Monthly Pay | Weekly Pay | Hourly Wage |
| Southington, CT | $40,000 | $3,333 | $769 | $19.23 |
| San Francisco, CA | $39,000 | $3,250 | $750 | $18.75 |
| Las Vegas, NV | $38,000 | $3,166 | $730 | $18.27 |
| Baltimore, MD | $38,000 | $3,166 | $730 | $18.27 |
| Tucson, AZ | $37,000 | $3,083 | $711 | $17.79 |
| Richmond, VA | $37,000 | $3,083 | $711 | $17.79 |
| Seattle, WA | $37,000 | $3,083 | $711 | $17.79 |
| Eugene, OR | $36,000 | $3,000 | $692 | $17.31 |
| Raleigh, NC | $35,000 | $2,916 | $673 | $16.83 |
| San Antonio, TX | $34,000 | $2,833 | $653 | $16.35 |
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