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As of August 01, 2026, the average salary for a Lending Processor II in Michigan is $48,160 per year, which breaks down to an hourly rate of $23.
However, a Lending Processor II's salary can vary significantly. Here’s a look at the typical salary range:
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Lending Processor II Salaries by Percentile
| Annual Salary |
Monthly Pay |
Weekly Pay |
Hourly Wage |
|
| 75th Percentile | $52,990 | $4,416 | $1,019 | $25 |
| Average | $48,160 | $4,013 | $926 | $23 |
| 25th Percentile | $44,510 | $3,709 | $856 | $21 |
Confidential - DAVENPORT, IA
Confidential - CHEYENNE, WY
Confidential - MINNEAPOLIS, MN
Confidential - MINNEAPOLIS, MN
A Lending Processor II'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 a Lending Processor II'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 Consumer Loan Processor | 0-1 years | $42,990 |
| Lending Processor II | 1-3 years | $48,160 |
| Senior Consumer Loan Processor | 3-5 years | $58,390 |
| Consumer Loan Processing Supervisor | 5+ years | $63,101 |
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 Lending Processor IIs. 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:
Lending Processor II salary potential scales significantly with company size. Data shows that Enterprise companies (5,000+ employees) pay the highest average salary at around $51,311. While startup companies pay approximate $43,570.
| Company Size | Employees | Average Salary |
|---|---|---|
| Startup | 1~50 | $43,570 |
| Growth Stage | 51~500 | $46,043 |
| Established | 501~5000 | $49,595 |
| Enterprise | 5000+ | $51,311 |
For Lending Processor II roles, the industry you choose can impact your earning potential by as much as 50% (the gap between the highest and lowest paying industries). Data shows that the highest-paying industry, Financial Services, offers compensation 30% above the average. Conversely, Lending Processor positions in Business Services typically offer lower base pay, as this sector often view Lending Processor II as a support function rather than a direct revenue driver.
| Industry Sector | Average Annual Salary | Average Hourly Rate | Pay vs.Avg |
|---|---|---|---|
| Financial Services | $62,608 | $30.0 | 30% |
Understanding how a Lending Processor II'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 | $52,990 | $4,416 | $1,019 | $25 |
| Average | $48,160 | $4,013 | $926 | $23 |
| 25th Percentile | $44,510 | $3,709 | $856 | $21 |
Promotions are the fastest way to increase your earnings. As a Lending Processor II, 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 III | $56,500 | 17% |
| Senior Consumer Loan Processor | $58,400 | 21% |
| Business Loan Processor III | $52,490 | 9% |
| Mortgage Lending Processor III | $62,400 | 30% |
Ready to take the next step in your career? Browse thousands of current Lending Processor II job openings on our job board. Use the search bar below to find your perfect match.
Confidential
MINNEAPOLIS, MN
Confidential | MINNEAPOLIS, MN
Vice President, Commercial Lending. About the Company. A banking team focused on commercial lending, business relationships, and portfolio growth. Industry... more
29 Days Ago
Confidential
WORTHINGTON, MN
Confidential | WORTHINGTON, MN
Vice President of Lending. About the Company. Well-established credit union. Industry. Financial Services. Type. Non Profit. Founded. 1986. Employees. 11-5... more
1 Month Ago
Confidential
WASHINGTON D.C., DC
Confidential | WASHINGTON D.C., DC
Chief Lending Officer. About the Company. Impact-led financial services organization. Industry. Financial Services. Type. Non Profit. Employees. 201-500. S... more
1 Month Ago
Confidential
RAPID CITY, SD
Confidential | RAPID CITY, SD
Chief Lending Officer (CLO). About the Company. A credit union focused on lending growth, risk management, and exceptional member service. Industry. Bankin... more
1 Month Ago
Confidential
RAPID CITY, SD
Confidential | RAPID CITY, SD
Chief Lending Officer (CLO). About the Company. Prominent credit union. Industry. Banking. Type. Privately Held. About the Role. The Company is seeking a C... more
1 Month Ago
Confidential
OKLAHOMA CITY, OK
Confidential | OKLAHOMA CITY, OK
Chief Lending Officer. About the Company. Impact-led financial services organization. Industry. Financial Services. Type. Non Profit. Employees. 201-500. S... more
1 Month Ago
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