As of October 01, 2026, the average salary for an Entry Mortgage Loan Processor in the United States is $45,100 per year, which breaks down to an hourly rate of $22.
However, an Entry Mortgage Loan Processor's salary can vary significantly. Here’s a look at the typical salary range:
Entry Mortgage Loan Processor Salaries by Percentile
| Annual Salary |
Monthly Pay |
Weekly Pay |
Hourly Wage |
|
|---|---|---|---|---|
| 75th Percentile | $48,300 | $4,025 | $929 | $23 |
| Average | $45,100 | $3,758 | $867 | $22 |
| 25th Percentile | $41,700 | $3,475 | $802 | $20 |
An Entry Mortgage Loan Processor's salary isn't a fixed number. It's shaped by several important factors. Below, we'll explore how geographic location, education and company size can directly affect your earning potential.
Demanded Skills for the Role:
| Skills | Demand Percentage |
|---|---|
| Customer Service | 6.81% |
| Loan Processing | 3.3% |
| Onboarding | 1.72% |
Mastering certain specialized skills can lead to a significant increase in pay. Here are examples of skills and the potential impact they can have on an Entry Mortgage Loan Processor's salary.
| Skill | Salary | Salary % Increase |
|---|---|---|
| Leadership | $49,159 | |
| Sense Of Urgency | $48,257 | |
| Wholesale | $48,257 |
Entry Mortgage Loan Processor salary potential scales significantly with company size. Data shows that Enterprise companies (5,000+ employees) pay the highest average salary at around $48,062. While startup companies pay approximate $40,826.
| Company Size | Employees | Average Salary |
|---|---|---|
| Startup | 1~50 | $40,826 |
| Growth Stage | 51~500 | $43,142 |
| Established | 501~5000 | $46,443 |
| Enterprise | 5000+ | $48,062 |
Your level of education can impact your salary potential. While many Entry Mortgage Loan Processors enter the field with a High School Diploma or Technical Certificate degree, higher education can lead to more specialized and higher-paying roles.
According to our 100% employer-reported salary data, the median salary for an Entry Mortgage Loan Processor with a High School Diploma or Technical Certificate is between $41,555 and $44,058).
| Typical Education for Entry Mortgage Loan Processor | |
|---|---|
| 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% |
| Doctorate | 0.0% |
Understanding how an Entry Mortgage Loan Processor's annual salary breaks down can help with budgeting. Below, you can see the average hourly rate, weekly pay, and monthly pay for this role. Use the buttons to switch between different pay periods.
| Annual Salary | Monthly Pay | Weekly Pay | Hourly Wage | |
|---|---|---|---|---|
| 75th Percentile | $48,300 | $4,025 | $929 | $23 |
| Average | $45,100 | $3,758 | $867 | $22 |
| 25th Percentile | $41,700 | $3,475 | $802 | $20 |
Promotions are the fastest way to increase your earnings. As an Entry Mortgage Loan Processor, you have the following paths for advancement. The table below compares the salary raises for common next-step roles. By comparing these figures, you can choose the career path that best meets your financial goals.
| Next Step Role | Estimate Salary | Projected Raise |
|---|---|---|
| Loan Closer II | $50,500 | 12% |
| Intermediate Consumer Loan Processor | $49,000 | 9% |
| Business Loan Processor II | $54,490 | 21% |
| Intermediate Mortgage Loan Processor | $50,200 | 11% |
Salaries for an Entry Mortgage Loan Processor can change over time, reflecting shifts in market demand and the overall economy. The median salary decreased from $41,205 in 2023 to around $41,006 in 2025, reflecting changes in demand, location, experience, and the wider economy. For a detailed analysis of Entry Mortgage Loan Processor salary trends, .
| Year | Average Annual Salary |
|---|---|
| 2022 | View More |
| 2023 | $41,205 |
| 2024 | $41,245 |
| 2025 | $41,006 |
| 2026 |
View More
|
| 2027 |
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The Business Services industry offers the highest average compensation for Entry Mortgage Loan Processor roles, with salaries approximately 20% above the market median.
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.
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