As of April 01, 2025, the average annual salary for an Entry Mortgage Loan Processor in the United States is $44,500. Salary.com reports that pay typically ranges from $41,100 to $48,300, with most professionals earning between $38,004 and $51,760.
| Annual Salary |
Monthly Pay |
Weekly Pay |
Hourly Wage |
|
| 75th Percentile | $48,300 | $4,025 | $929 | $23 |
| Average | $44,500 | $3,708 | $856 | $21 |
| 25th Percentile | $41,100 | $3,425 | $790 | $20 |
An entry-level Entry Mortgage Loan Processor with less than 1 year of experience earns about $44,246. With 1-2 years of experience, the average salary increases to $44,613. For 2-4 years of experience, the pay typically rises to $45,464. Senior-level professionals with 5-8 years of experience earn around $45,634, and those with over 8 years of experience can expect an average of $45,748.
| Levels | Salary |
|---|---|
| Entry Level Entry Mortgage Loan Processor | $44,246 |
| Intermediate Level Entry Mortgage Loan Processor | $44,613 |
| Senior Level Entry Mortgage Loan Processor | $45,464 |
| Specialist Level Entry Mortgage Loan Processor | $45,634 |
| Expert Level Entry Mortgage Loan Processor | $45,748 |
| Entry Level | 1% |
| Mid Level | 0% |
| Senior Level | 2% |
| Top Level | 3% |
| Experienced | 3% |
Salaries in the United States differ widely between states due to factors like cost of living, local economies, and industry presence.
What Am I Worth?
Salaries in the United States can vary greatly between cities due to factors like cost of living, local economies, and industry presence.
As of April 01, 2025, our research reveals a significant shift in Entry Mortgage Loan Processor compensation over the past six years. For example, the median salary increased from $41,205 in 2023 to approximately $41,245 in 2024. (For a detailed analysis of Entry Mortgage Loan Processor salary trends, click here.)
Key factors like location, experience, industry demand, and economic growth significantly influence salary variations, making them important to consider.
Salary.com job board provides millions of Entry Mortgage Loan Processor information for you to search for. Click on search button below to see Entry Mortgage Loan Processor job openings or enter a new job title here.
Here are companies hiring for Entry Mortgage Loan Processor and their salaries, click below for more details.
| Core Compensation | ||||
| Core Compensation | Median | % of Total | ||
| Base Salary | $44,500 | 69.2% | ||
| Bonus | $0 | 0.0% | ||
| Value of Benefits | ||||
| Core Compensation | Median | % of Total | ||
| Social Security | $3,404 | 5.3% | ||
| 401K/403B | $2,092 | 3.3% | ||
| Disability | $356 | 0.6% | ||
| Healthcare | $6,056 | 9.4% | ||
| Pension | $2,448 | 3.8% | ||
| Time Off | $5,477 | 8.5% | ||
| Total Compensation | $64,332 | 100% | ||
| Degree Level | % of user with this level of education |
|---|---|
| No Diploma | 0.8% |
| High School | 43.1% |
| Associates | 16.9% |
| Bachelors | 36.1% |
| Masters | 3.1% |
What Am I Worth?
Becoming a loan processor requires strong math and communication skills. Gaining experience at a bank is beneficial, as many offer on-the-job training. In some states, a license may be necessary unless you're working with a licensed underwriter or mortgage broker. Entry-level salaries range from $41,500 to $51,600, with a mid-salary of $45,700.
TD Bank pays Entry Mortgage Loan Processors a salary range between $41,500 and $51,600, with a midpoint of $45,700. This reflects competitive compensation in the industry, aligning with the skills and responsibilities associated with the role.
Yes, a loan processor can work from home. As a remote loan processor, your role involves reviewing applications and documents from clients in a virtual office setting. The salary for an entry-level mortgage loan processor typically ranges from $41,500 to $51,600, with a mid-range salary of about $45,700.
A high school diploma or GED is required to become a mortgage loan processor, though many employers prefer candidates with a bachelor's degree in accounting or finance. Entry-level positions typically offer salaries ranging from $41,500 to $51,600, with a median salary around $45,700.
The hardest job in finance is often considered to be an Investment Banker, particularly in M&A or capital markets. This role is known for its high stress levels due to long hours and intense deadlines. In contrast, an Entry Mortgage Loan Processor, with a salary range of $41,500 to $51,600, typically experiences a more manageable workload, making it less stressful.
As of January 5, 2025, the average salary for an Entry Mortgage Loan Processor in Texas ranges from $41,500 to $51,600 annually, with a midpoint of $45,700. This reflects a competitive salary structure in the industry, aligning with the broader market trends for loan processors in the region.
Salary.com provides salary estimates, histograms, trends, and comparisons using data from employer job postings and third-party sources.
We offer detailed salary information across multiple percentiles for your reference. (Click here to learn Why the Salary Midpoint Formula Is Crucial for Achieving Pay Equity.)
With the most extensive online, real-time compensation data available, Salary.com helps you pinpoint your exact pay target.
