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: How much does an entry-level loan processor make?

An entry-level loan processor makes $47,138 annually. The range is between $26,000 and $69,000 a year. Factors such as company type and location impact how much an entry-level loan processor can make.

Question 1

How much does a Processor make?

Accepted Answer

The average processor salary in the United States is $32,098. Processor salaries typically range between $24,000 and $41,000 yearly. The average hourly rate for processors is $15.43 per hour.

Processor salary is impacted by location, education, and experience. Processors earn the highest average salary in California.

Question 2

What state pays Processors the most?

Accepted Answer

California pays Processors the most in the United States, with an average salary of $37,952 per year, or $18.25 per hour.

Question 3

How do I know if I'm being paid fairly as a Processor?

Accepted Answer

You know if you are being paid fairly as a Processor if your pay is close to the average pay for the state you live in. For example, if you live in Massachusetts you should be paid close to $37,898 per year.

Question 4

What is a good starting salary for a Processor?

Accepted Answer

A good starting salary for a processor is $24,000 in the United States. That puts you in the 10th percentile of annual income for a processor in the U.S., which is about what you would expect if you were new to the field. The average salary for processors is $32,254, but that normally requires some level of experience to achieve. Furthermore, a good starting salary for a processor can vary by state.

Question 5

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 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 an entry-level loan processor make?

Accepted Answer

An entry-level loan processor makes $47,138 annually. The range is between $26,000 and $69,000 a year. Factors such as company type and location impact how much an entry-level loan processor can make.

Question 8

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.

Experience Level	Avg. Salary	Hourly Rate
Entry-level processor	$24,000	$11.53
Mid-level processor	$29,800	$14.34
Senior-level processor	$35,200	$16.93

Rank	State	Avg. Salary	Hourly Rate
1	Colorado	$35,644	$17.14
2	Oregon	$34,687	$16.68
3	Minnesota	$34,470	$16.57
4	California	$37,952	$18.25
5	South Dakota	$32,388	$15.57
6	Massachusetts	$37,898	$18.22
7	Wisconsin	$33,668	$16.19
8	New Jersey	$34,418	$16.55
9	Montana	$34,020	$16.36
10	Arizona	$31,445	$15.12
11	Illinois	$33,172	$15.95
12	West Virginia	$33,312	$16.02
13	Ohio	$30,969	$14.89
14	North Dakota	$32,688	$15.72
15	Alaska	$32,003	$15.39
16	Washington	$33,868	$16.28
17	New Mexico	$31,117	$14.96
18	Pennsylvania	$31,376	$15.08
19	Connecticut	$33,667	$16.19
20	Michigan	$30,087	$14.46
21	Wyoming	$31,881	$15.33
22	Iowa	$31,265	$15.03
23	Rhode Island	$30,438	$14.63
24	New Hampshire	$32,888	$15.81
25	Idaho	$31,343	$15.07
26	Vermont	$33,295	$16.01
27	Kansas	$29,920	$14.38
28	Maryland	$32,085	$15.43
29	New York	$32,603	$15.67
30	Hawaii	$34,210	$16.45
31	Texas	$28,312	$13.61
32	Kentucky	$28,585	$13.74
33	Virginia	$30,541	$14.68
34	Maine	$30,327	$14.58
35	Missouri	$29,768	$14.31
36	Utah	$27,038	$13.00
37	Nevada	$26,693	$12.83
38	Delaware	$29,920	$14.38
39	Tennessee	$26,898	$12.93
40	Oklahoma	$28,616	$13.76
41	Indiana	$26,716	$12.84
42	Nebraska	$25,440	$12.23
43	North Carolina	$26,872	$12.92
44	Florida	$22,454	$10.80
45	Arkansas	$26,951	$12.96
46	District of Columbia	$28,831	$13.86
47	Georgia	$24,954	$12.00
48	South Carolina	$26,299	$12.64
49	Louisiana	$22,635	$10.88
50	Alabama	$23,792	$11.44
51	Mississippi	$21,776	$10.47

Rank	City	Avg. Salary	Hourly Rate
1	Randolph, MA	$37,949	$18.24
2	San Diego, CA	$36,834	$17.71
3	Denver, CO	$35,642	$17.14
4	Salem, OR	$34,745	$16.70
5	Minneapolis, MN	$34,512	$16.59
6	Seattle, WA	$33,909	$16.30
7	Milwaukee, WI	$33,665	$16.19
8	Chicago, IL	$33,339	$16.03
9	Baltimore, MD	$32,283	$15.52
10	Phoenix, AZ	$31,497	$15.14
11	Philadelphia, PA	$31,354	$15.07
12	Columbus, OH	$30,338	$14.59
13	Lewiston, ME	$30,295	$14.56
14	Grand Rapids, MI	$30,226	$14.53
15	Salem, VA	$29,815	$14.33
16	Wichita, KS	$29,738	$14.30
17	Saint Louis, MO	$29,587	$14.22
18	Tulsa, OK	$28,652	$13.78
19	San Antonio, TX	$28,348	$13.63
20	Fort Wayne, IN	$27,579	$13.26

Percentile	Annual Salary	Monthly Salary	Hourly Rate
90th Percentile	$41,000	$3,417	$20
75th Percentile	$36,000	$3,000	$17
Average	$32,098	$2,675	$15
25th Percentile	$27,000	$2,250	$13
10th Percentile	$24,000	$2,000	$12

Job Title	Annual Salary	Monthly Salary	Hourly Rate	Job Openings
Closing Coordinator	$39,066	$3,256	$18.78	19,203
Loan Officer/Loan Processor	$46,753	$3,896	$22.48	71,801
Medical Claims Processor	$36,777	$3,065	$17.68	59,992
Mortgage Loan Processor	$43,594	$3,633	$20.96	16,276
Merchandise Processor	$31,092	$2,591	$14.95	13,551
Data Entry Processor	$32,567	$2,714	$15.66	83,470

Processor salary

Average processor salary

$15.43

How much does a processor make?

Where can a Processor earn more?

Processor Salaries By Experience Level

Average processor salary by state

Highest paying states for processors

Highest paying cities for processors