As of July 01, 2026, the average salary for an Entry Mortgage Loan Processor in Virginia is $45,400 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:
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Entry Mortgage Loan Processor Salaries by Percentile
| Annual Salary |
Monthly Pay |
Weekly Pay |
Hourly Wage |
|
| 75th Percentile | $48,600 | $4,050 | $935 | $23 |
| Average | $45,400 | $3,783 | $873 | $22 |
| 25th Percentile | $42,000 | $3,500 | $808 | $20 |
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An Entry Mortgage Loan Processor's salary isn't a fixed number. It's shaped by several important factors. Below, we'll explore how your years of experience, geographic location, and company size can directly affect your earning potential.
Experience is a primary driver of an Entry Mortgage Loan Processor's salary. As you build your skills and take on more complex tasks, your compensation generally increases. Here's how the average salary grows at different career stages:
| Job Role | Years of Experience | Average Salary |
|---|---|---|
| Entry Mortgage Loan Processor | 0-1 years | $45,334 |
| Intermediate Mortgage Loan Processor | 1-3 years | $50,492 |
| Consumer Loan Processing Manager | 3-5 years | $97,583 |
What Am I Worth?
Your salary can change significantly depending on where you work. States with a higher cost of living and strong industrial sectors often pay more to attract Entry Mortgage Loan Processors. For example, consider the average annual salaries in these key locations:
Salaries can also vary between different cities. Major metropolitan areas or cities with a high demand for technicians often offer more competitive pay. Here are a few examples of average annual salaries in different U.S. cities:
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 $48,428. While startup companies pay approximate $41,097.
| Company Size | Employees | Average Salary |
|---|---|---|
| Startup | 1~50 | $41,097 |
| Growth Stage | 51~500 | $43,434 |
| Established | 501~5000 | $46,810 |
| Enterprise | 5000+ | $48,428 |
For Entry Mortgage Loan Processor roles, the industry you choose can impact your earning potential by as much as 40% (the gap between the highest and lowest paying industries). Data shows that the highest-paying industry, Business Services, offers compensation 20% above the average. Conversely, Entry Mortgage Loan Processor positions in Edu., Gov't. & Nonprofit typically offer lower base pay, as this sector often view Entry Mortgage Loan Processor as a support function rather than a direct revenue driver.
| Industry Sector | Average Annual Salary | Average Hourly Rate | Pay vs.Avg |
|---|---|---|---|
| Business Services | $54,480 | $26.0 | 20% |
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 | $48,600 | $4,050 | $935 | $23 |
| Average | $45,400 | $3,783 | $873 | $22 |
| 25th Percentile | $42,000 | $3,500 | $808 | $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 | $50,900 | 12% |
| Intermediate Consumer Loan Processor | $49,300 | 9% |
| Business Loan Processor II | $50,190 | 11% |
| Intermediate Mortgage Loan Processor | $50,500 | 11% |
Ready to take the next step in your career? Browse thousands of current Entry Mortgage Loan Processor job openings on our job board. Use the search bar below to find your perfect match.
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