As of August 01, 2026, the average salary for a Loan Closer I in South Dakota is $35,800 per year, which breaks down to an hourly rate of $17.
However, a Loan Closer I's salary can vary significantly. Here’s a look at the typical salary range:
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A Loan Closer I'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 Loan Closer I'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:
| Levels | Salary |
|---|---|
| Entry Level Loan Closer I | $35,630 |
| Intermediate Level Loan Closer I | $36,139 |
| Senior Level Loan Closer I | $36,614 |
| Specialist Level Loan Closer I | $36,756 |
| Expert Level Loan Closer I | $36,851 |
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 Loan Closer Is. For example, consider the average annual salaries in these key locations:
Loan Closer I salary potential scales significantly with company size. Data shows that Enterprise companies (5,000+ employees) pay the highest average salary at around $38,142. While startup companies pay approximate $32,388.
| Company Size | Employees | Average Salary |
|---|---|---|
| Startup | 1~50 | $32,388 |
| Growth Stage | 51~500 | $34,226 |
| Established | 501~5000 | $36,867 |
| Enterprise | 5000+ | $38,142 |
For Loan Closer I 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, Financial Services, offers compensation 20% above the average. Conversely, Loan Closer positions in Business Services typically offer lower base pay, as this sector often view Loan Closer I as a support function rather than a direct revenue driver.
| Industry Sector | Average Annual Salary | Average Hourly Rate | Pay vs.Avg |
|---|---|---|---|
| Financial Services | $42,960 | $21.0 | 20% |
Understanding how a Loan Closer I'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.
Last Updated on August 01, 2026Promotions are the fastest way to increase your earnings. As a Loan Closer I, 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 | $45,900 | 28% |
| Intermediate Consumer Loan Processor | $44,500 | 24% |
| Business Loan Processor II | $45,290 | 27% |
| Intermediate Mortgage Loan Processor | $45,600 | 27% |
Ready to take the next step in your career? Browse thousands of current Loan Closer I job openings on our job board. Use the search bar below to find your perfect match.
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