As of April 01, 2025, the average annual salary for a Loan Processor I in the United States is $43,663. According to Salary.com, salaries can range from a low of $37,315 to a high of $50,825, with most professionals earning between $40,340 and $47,412.
| Annual Salary |
Monthly Pay |
Weekly Pay |
Hourly Wage |
|
| 75th Percentile | $47,412 | $3,951 | $912 | $23 |
| Average | $43,663 | $3,639 | $840 | $21 |
| 25th Percentile | $40,340 | $3,362 | $776 | $19 |
An entry-level Loan Processor I with less than 1 year of experience earns about $43,415. With 1-2 years of experience, the average salary increases to $43,775. For 2-4 years of experience, the pay typically rises to $44,614. Senior-level professionals with 5-8 years of experience earn around $44,782, and those with over 8 years of experience can expect an average of $44,894.
| Levels | Salary |
|---|---|
| Entry Level Loan Processor I | $43,415 |
| Intermediate Level Loan Processor I | $43,775 |
| Senior Level Loan Processor I | $44,614 |
| Specialist Level Loan Processor I | $44,782 |
| Expert Level Loan Processor I | $44,894 |
| 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 Loan Processor I 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 Loan Processor I 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 Loan Processor I information for you to search for. Click on search button below to see Loan Processor I job openings or enter a new job title here.
Here are companies hiring for Loan Processor I and their salaries, click below for more details.
| Core Compensation | ||||
| Core Compensation | Median | % of Total | ||
| Base Salary | $43,663 | 69.0% | ||
| Bonus | $0 | 0.0% | ||
| Value of Benefits | ||||
| Core Compensation | Median | % of Total | ||
| Social Security | $3,340 | 5.3% | ||
| 401K/403B | $2,052 | 3.2% | ||
| Disability | $349 | 0.6% | ||
| Healthcare | $6,056 | 9.6% | ||
| Pension | $2,401 | 3.8% | ||
| Time Off | $5,374 | 8.5% | ||
| Total Compensation | $63,236 | 100% | ||
| Degree Level | % of user with this level of education |
|---|---|
| No Diploma | 2.7% |
| High School | 34.5% |
| Associates | 15.9% |
| Bachelors | 45.1% |
| Masters | 1.8% |
What Am I Worth?
The average annual salary of Loan Processor I is $43,663. In case you are finding an easy salary calculator, the average hourly pay of Loan Processor I is $21; the average weekly pay of Loan Processor I is $840; the average monthly pay of Loan Processor I is $3,639.
A Loan Processor I's earning potential can vary widely depending on several factors, including location, industry, experience, education, and the specific employer. According to the latest salary data by Salary.com, a Loan Processor I earns the most in San Jose, CA, where the annual salary of a Loan Processor I is $55,072.
The highest pay for Loan Processor I is $50,825.
The lowest pay for Loan Processor I is $37,315.
Performs administrative tasks for loan processing. Collects and prepares necessary information required by each loan type and purpose to process and complete loan files. Verifies all documentation for accuracy and completeness. Tracks and monitors due dates. Ensures all documents are prepared and finalized in compliance with regulatory policies and procedures. Inputs and maintains all required transaction and processing records according to procedures. Responds to inquiries. Prepares required regulatory reporting. Requires a high school diploma. Typically reports to a supervisor. Works under the close direction of senior personnel in the functional area. Possesses a moderate understanding of general aspects of the job. May require 0-1 year of general work experience.
Specify the abilities and skills that a person needs in order to carry out the specified job duties. Each competency has five to ten behavioral assertions that can be observed, each with a corresponding performance level (from one to five) that is required for a particular job.
Customer Service: Customer service is the provision of service to customers before, during and after a purchase. The perception of success of such interactions is dependent on employees "who can adjust themselves to the personality of the guest". Customer service concerns the priority an organization assigns to customer service relative to components such as product innovation and pricing. In this sense, an organization that values good customer service may spend more money in training employees than the average organization or may proactively interview customers for feedback. From the point of view of an overall sales process engineering effort, customer service plays an important role in an organization's ability to generate income and revenue. From that perspective, customer service should be included as part of an overall approach to systematic improvement. One good customer service experience can change the entire perception a customer holds towards the organization.
Microsoft Office: Microsoft Office is a suite of desktop productivity applications that is designed by Microsoft for business use. You can create documents containing text and images, work with data in spreadsheets and databases, create presentations and posters.
Mortgage Lending: A mortgage loan is a secured loan that allows you to avail funds by providing an immovable asset, such as a house or commercial property, as collateral to the lender.
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