Key Factors That Influence Loan Processor I Salaries
A Loan Processor 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, education, and company size can directly affect your earning potential.
How Experience Level Affects Loan Processor Salaries?
Experience is a primary driver of a Loan Processor 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:
Loan Processor I (0-1 years): $43,655
Loan Processor II (1-3 years): $48,902
Loan Processor III (3-5 years): $59,281
Loan Processing Supervisor (5+ years): $64,065
Job Role
Years of Experience
Average Salary
Loan Processor I
0-1 years
$43,655
Loan Processor II
1-3 years
$48,902
Loan Processor III
3-5 years
$59,281
Loan Processing Supervisor
5+ years
$64,065
$43,655Loan Proc...
$48,902Loan Proc...
$59,281Loan Proc...
$64,065Loan Proc...
View as Table
View as Graph
What Am I Worth?
How Do Loan Processor I Salaries Vary from State to State?
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 Processor Is.
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:
San Jose: $55,062
San Francisco: $54,459
Oakland: $53,311
San Jose, CA$55,062
San Francisco, CA$54,459
Oakland, CA$53,311
New York, NY$50,264
Paramus, NJ$49,653
Queens Village, NY$49,651
Passaic, NJ$49,609
Bergenfield, NJ$49,605
Stamford, CT$49,509
Huntington, NY$49,491
Newark, NJ$49,169
Bridgeport, CT$49,077
Vallejo, CA$48,990
New Brunswick, NJ$48,972
Petaluma, CA$48,946
Middlesex, NJ$48,863
Somerset, NJ$48,832
Santa Cruz, CA$48,776
Boston, MA$48,509
Monterey, CA$48,356
Seattle, WA$48,256
Santa Rosa, CA$48,248
Los Angeles, CA$48,234
Juneau, AK$48,121
Washington, DC$48,073
Orange, CA$47,917
Santa Ana, CA$47,802
Long Beach, CA$47,759
Anaheim, CA$47,750
Anchorage, AK$47,728
Santa Maria, CA$47,597
Everett, WA$47,588
Danbury, CT$47,435
Bremerton, WA$47,374
Tacoma, WA$47,217
New Suffolk, NY$47,216
Sacramento, CA$47,204
Santa Barbara, CA$47,156
Trenton, NJ$47,108
San Diego, CA$47,108
Brockton, MA$47,060
Fairbanks, AK$46,953
Lompoc, CA$46,842
Lowell, MA$46,806
Ventura, CA$46,798
Nashua, NH$46,789
Stockton, CA$46,785
Modesto, CA$46,466
Poughkeepsie, NY$46,370
Olympia, WA$46,287
Kennewick, WA$46,287
New Haven, CT$46,270
Lawrence, MA$46,113
Hartford, CT$46,069
Riverside, CA$46,060
New Bedford, MA$46,017
Richland, WA$46,017
Bakersfield, CA$45,956
San Bernardino, CA$45,938
New Britain, CT$45,934
Atlantic City, NJ$45,934
New London, CT$45,916
Norwich, CT$45,903
Portsmouth, NH$45,895
Boulder, CO$45,802
Portland, OR$45,742
Worcester, MA$45,737
Minneapolis, MN$45,602
Philadelphia, PA$45,541
Honolulu, HI$45,397
Saint Paul, MN$45,376
Vineland, NJ$45,366
Providence, RI$45,240
Chicago, IL$45,113
Bellingham, WA$45,061
Springfield, MA$45,026
Baltimore, MD$45,013
Chico, CA$44,904
Pittsfield, MA$44,786
Manchester, NH$44,703
Spokane, WA$44,511
Denver, CO$44,506
Albany, NY$44,301
Troy, NY$44,284
Nassau, NY$44,237
Schenectady, NY$44,192
Wilmington, DE$44,157
Burlington, VT$44,096
Salem, OR$44,078
Portland, ME$43,943
Yakima, WA$43,899
Rochester, MN$43,764
Reno, NV$43,742
Fresno, CA$43,742
Milwaukee, WI$43,703
Detroit, MI$43,659
Ann Arbor, MI$43,652
Allentown, PA$43,646
Colorado Springs, CO$43,572
Syracuse, NY$43,550
Carson City, NV$43,550
Houston, TX$43,489
Eugene, OR$43,467
Gary, IN$43,415
Springfield, OR$43,380
Bismarck, ND$43,371
Galveston, TX$43,341
Medford, OR$43,275
Fort Collins, CO$43,258
Concord, NH$43,236
Austin, TX$43,223
Mesa, AZ$43,131
Reading, PA$43,127
Phoenix, AZ$43,122
Dallas, TX$43,109
Saint Cloud, MN$43,067
Madison, WI$43,009
Utica, NY$42,891
Rochester, NY$42,821
Des Moines, IA$42,817
Raleigh, NC$42,812
Atlanta, GA$42,747
Battle Creek, MI$42,734
Salt Lake City, UT$42,721
Lancaster, PA$42,655
Harrisburg, PA$42,594
Kansas City, MO$42,551
Champaign, IL$42,542
Kansas City, KS$42,542
Fort Worth, TX$42,537
Columbus, OH$42,530
Boca Raton, FL$42,520
Pittsburgh, PA$42,503
Richmond, VA$42,485
Indianapolis, IN$42,476
Cleveland, OH$42,472
Las Vegas, NV$42,420
Cincinnati, OH$42,420
Petersburg, VA$42,354
Huntsville, AL$42,289
Lansing, MI$42,259
Lebanon, PA$42,254
Pueblo, CO$42,249
Appleton, WI$42,236
Buffalo, NY$42,219
Dayton, OH$42,206
Racine, WI$42,197
Charlotte, NC$42,193
Saint Louis, MO$42,179
York, PA$42,153
Elkhart, IN$42,153
Gastonia, NC$42,145
Billings, MT$42,134
Beaumont, TX$42,123
Lorain, OH$42,114
Benton Harbor, MI$42,105
Toledo, OH$42,097
Binghamton, NY$42,075
Rock Hill, SC$42,070
Rockford, IL$42,048
Springfield, IL$42,031
Elyria, OH$42,027
Fargo, ND$42,027
Flagstaff, AZ$41,996
Fort Lauderdale, FL$41,970
Duluth, MN$41,944
Miami, FL$41,944
Cheyenne, WY$41,913
Grand Forks, ND$41,913
Bangor, ME$41,817
Cedar Rapids, IA$41,769
Durham, NC$41,751
Louisville, KY$41,747
Grand Rapids, MI$41,739
Hialeah, FL$41,734
Casper, WY$41,673
Scranton, PA$41,621
New Orleans, LA$41,608
Virginia Beach, VA$41,603
Akron, OH$41,581
Peoria, IL$41,525
Sarasota, FL$41,516
Nashville, TN$41,485
Omaha, NE$41,485
Green Bay, WI$41,485
Baton Rouge, LA$41,464
Charleston, SC$41,455
Jamestown, NY$41,433
Davenport, IA$41,433
Tucson, AZ$41,411
Saint Petersburg, FL$41,385
Tampa, FL$41,376
Evansville, IN$41,350
Port Arthur, TX$41,350
Bradenton, FL$41,333
Santa Fe, NM$41,254
Orlando, FL$41,175
Clearwater, FL$41,162
Canton, OH$41,071
La Crosse, WI$41,071
Albuquerque, NM$41,044
Newport News, VA$41,040
High Point, NC$41,027
Ogden, UT$41,010
Corpus Christi, TX$40,975
Norfolk, VA$40,948
Laramie, WY$40,948
Rock Island, IL$40,922
Saginaw, MI$40,913
Jacksonville, FL$40,909
Salisbury, NC$40,900
Boise, ID$40,892
Moline, IL$40,870
Fort Myers, FL$40,857
Memphis, TN$40,848
Tulsa, OK$40,826
Waterloo, IA$40,800
Spartanburg, SC$40,756
Lincoln, NE$40,734
Fort Wayne, IN$40,726
Provo, UT$40,721
Cedar Falls, IA$40,669
San Antonio, TX$40,652
Greensboro, NC$40,634
South Bend, IN$40,630
Savannah, GA$40,582
Muskegon, MI$40,564
Birmingham, AL$40,560
Winston Salem, NC$40,538
Lake Charles, LA$40,433
Anderson, IN$40,425
Lexington, KY$40,411
Augusta, GA$40,398
Greenville, SC$40,398
Lima, OH$40,363
Wichita, KS$40,359
Tuscaloosa, AL$40,359
Columbia, SC$40,320
Springfield, OH$40,311
Asheville, NC$40,241
Bloomington, IN$40,211
Knoxville, TN$40,053
Shreveport, LA$40,049
Wilmington, NC$39,992
Roanoke, VA$39,992
Topeka, KS$39,914
Frankfort, KY$39,909
Oklahoma City, OK$39,879
Chillicothe, OH$39,861
Longview, TX$39,857
Melbourne, FL$39,853
Sioux Falls, SD$39,783
Mobile, AL$39,778
Terre Haute, IN$39,761
Altoona, PA$39,735
Amarillo, TX$39,704
Killeen, TX$39,691
Fayetteville, AR$39,656
Chattanooga, TN$39,643
Sioux City, IA$39,604
Idaho Falls, ID$39,595
Lynchburg, VA$39,560
Gainesville, FL$39,503
Portsmouth, OH$39,482
Little Rock, AR$39,473
Lafayette, LA$39,455
Youngstown, OH$39,455
Daytona Beach, FL$39,429
Clarksville, TN$39,425
Pensacola, FL$39,420
Temple, TX$39,417
Hopkinsville, KY$39,290
Erie, PA$39,281
Florence, SC$39,263
Charleston, WV$39,193
Great Falls, MT$39,172
Macon, GA$39,111
Tallahassee, FL$39,106
Fayetteville, NC$39,097
Waco, TX$39,089
Helena, MT$39,058
Pine Bluff, AR$39,042
Vincennes, IN$38,988
Lubbock, TX$38,971
Alamogordo, NM$38,945
Twin Falls, ID$38,905
Rapid City, SD$38,892
Jackson, MS$38,814
Huntington, WV$38,811
Greenville, MS$38,809
Parkersburg, WV$38,765
Montgomery, AL$38,757
Wichita Falls, TX$38,713
Springfield, MO$38,713
Biloxi, MS$38,691
Monroe, LA$38,648
Johnstown, PA$38,617
Sumter, SC$38,600
Columbus, GA$38,595
Pascagoula, MS$38,512
Abilene, TX$38,512
Kingsport, TN$38,399
Albany, GA$38,399
Gulfport, MS$38,386
Alexandria, LA$38,242
Fort Smith, AR$38,133
El Paso, TX$38,015
Las Cruces, NM$37,818
Harlingen, TX$37,707
Pocatello, ID$37,700
Florence, AL$37,644
Brownsville, TX$37,635
Mcallen, TX$37,543
Dothan, AL$37,482
Columbus, MS$37,223
Altus, OK$37,019
Lawton, OK$36,936
Pierre, SD$36,779
What Skills Can Increase a Loan Processor I's Salary?
Demanded Skills for the Role:
Customer Service (Mentioned in 10.13% Job Postings): 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.
Data Entry (Mentioned in 2.88% Job Postings): Transcribing information into an electronic medium such as a computer or other electronic device.
Loan Review (Mentioned in 1.35% Job Postings): Loan review is a process routinely used by banks to assess the current value of loan portfolios. Provisioning is a technique to translate loan review results into the balance sheet.
See More Skills
Skills
Demand Percentage
Customer Service
10.13%
Data Entry
2.88%
Loan Review
1.35%
What skills can make your compensation higher?
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 a Loan Processor I's salary.
Listening: Can increase your salary by up to 38%.
Leadership: Can increase your salary by up to 28%.
Pricing: Can increase your salary by up to 18%.
Skill
Salary
Salary % Increase
Listening
$60,244
38%
Leadership
$55,878
28%
Pricing
$51,513
18%
Underwriting
$49,330
13%
Coordination
$47,584
9%
Verbal Communication
$47,147
8%
Get Latest Data
Loan Processor I Salary by Company Size: Startups vs. Enterprise
Loan Processor I salary potential scales significantly with company size.
Data shows that Enterprise companies (5,000+ employees) pay the highest average salary at around $46,567.
While startup companies pay approximate $39,517.
Loan Processor I Salary by Company Size
Company Size
Employees
Average Salary
Startup
1~50
$39,517
Growth Stage
51~500
$41,764
Established
501~5000
$45,010
Enterprise
5000+
$46,567
Loan Processor I Salary by Industry: Top Paying Sectors
For Loan Processor I roles, the industry you choose can impact your earning potential
by as much as 20% (the gap between the highest and lowest paying industries).
Data shows that the highest-paying industry, Business Services,
offers compensation 10% above the average. Conversely,
Loan Processor positions in Edu., Gov't. & Nonprofit typically offer lower base pay,
as this sector often view Loan Processor I as a support function rather than a direct revenue driver.
The top paying industry for a Loan Processor I
Industry Sector
Average Annual Salary
Average Hourly Rate
Pay vs.Avg
Business Services
$48,021
$23.0
10%
How Education impacts a Loan Processor I's Salary?
Your level of education can impact your salary potential.
While many Loan Processor Is 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 a Loan Processor I with a High School Diploma or Technical Certificate is between
$39,683
and $42,442).
Loan Processor I Salaries by Degree Level
Typical Education for Loan Processor I
No Diploma2.7%
High School34.5%
Associates15.9%
Bachelors45.1%
Masters1.8%
Doctorate0.0%
view as table
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%
Doctorate
0.0%
view as graph
Loan Processor I Salary: Hourly Rate, Weekly Pay, and Monthly Pay
Understanding how a Loan Processor 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.
Hourly
Monthly
Weekly
Yearly
Table View
Last Updated on July 01, 2026
$40,414
Average$43,655/year
$46,753
$3,368
Average$3,638/month
$3,896
$777
Average$840/week
$899
$19
Average$21/hour
$22
Annual Salary
Monthly Pay
Weekly Pay
Hourly Wage
75th Percentile
$46,753
$3,896
$899
$22
Average
$43,655
$3,638
$840
$21
25th Percentile
$40,414
$3,368
$777
$19
Loan Processor I Salary Growth & Career Path
Promotions are the fastest way to increase your earnings.
As a Loan Processor 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.
Salaries for a Loan Processor I 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 Loan Processor I salary trends,
.
Average Annual Salary of Loan Processor I Over Time
2022
$???
2023
$41,205
2024
$41,245
2025
$41,006
2026
$???
2027
$???
Year
Average Annual Salary
2022
View More
2023
$41,205
2024
$41,245
2025
$41,006
2026
View More
2027
View More
Most common benefits for Loan Processor I
Social Security
401(k)
Disability
Healthcare
Pension
Time Off (days)
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Compensation Planning
Common company salaries for Loan Processor I
Here are companies hiring for Loan Processor I and their salaries, click below for more details.
K
$114,295/per year
Kpmg Us LLP
Business Services
the United States
W
$114,096/per year
Warner Bros Discovery
Business Services
the United States
D
$111,927/per year
Dentsu International Ltd
Business Services
the United States
G
$111,873/per year
GroupM Worldwide Inc
Business Services
the United States
C
$111,651/per year
CoWorx Staffing
Business Services
the United States
C
$110,194/per year
Contemporary Services Corp
Business Services
the United States
S
$107,128/per year
Showcase Cinemas
Business Services
the United States
A
$106,429/per year
Amentum Services Inc
Business Services
the United States
A
$106,199/per year
Allied Universal Security Services LLC
Business Services
the United States
S
$106,104/per year
Sodexo USA
Business Services
the United States
J
$105,192/per year
JLL Technologies
Business Services
the United States
I
$104,478/per year
Intact Insurance Group USA LLC
Business Services
the United States
N
$101,619/per year
NielsenIQ
Business Services
the United States
T
$101,470/per year
The Leading Edge Alliance
Business Services
the United States
H
$101,308/per year
Honeywell UOP
Business Services
the United States
R
$97,720/per year
Reeve & Associates
Business Services
the United States
M
$97,584/per year
ManpowerGroup Global Inc
Business Services
the United States
F
$95,980/per year
Financial Sys Nco
Business Services
the United States
A
$95,314/per year
Arrow Global Ltd
Business Services
the United States
C
$94,777/per year
CarMax Enterprise Services LLC
Business Services
the United States
D
$94,479/per year
DZConneX
Business Services
the United States
A
$93,802/per year
Adecco Staffing, USA
Business Services
the United States
R
$92,937/per year
Resource MFG
Business Services
the United States
Z
$92,774/per year
Zachry Brands Inc
Business Services
the United States
G
$88,138/per year
Greystar Worldwide LLC
Business Services
the United States
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FAQ about Loan Processor I
1. Where can a Loan Processor I earn the most?
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 $55,062.
2. What is the highest pay for Loan Processor I?
The highest pay for Loan Processor I is $49,574.
3. What is the lowest pay for Loan Processor I?
The lowest pay for Loan Processor I is $37,463.
4. What are the responsibilities of Loan Processor I?
Processes loan applications by verifying borrower information and ensuring completeness and accuracy of documentation before approval. Reviews loan files to confirm income, credit history, asset documentation, and collateral details in accordance with lending guidelines and regulatory standards. Communicates with borrowers, loan officers, and underwriters to obtain missing documentation and clarify application details. Prepares loan packages for underwriting review and ensures all required documents are properly organized and submitted. Maintains accurate records in loan processing systems and monitors application status to ensure timely progression through the approval process. Tracks and monitors due dates and responds to borrower inquiries. 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.
5. What industry pays the highest salary for Loan Processor I?
The Business Services industry offers the highest average compensation for Loan Processor I roles,
with salaries approximately 10% above the market median.
Where Does Our Salary Data Come From?
Salary.com provides salary estimates, histograms, trends, and comparisons using data from employer job postings and third-party sources.
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