What are the main factors that influence a Loan Processor's salary?

The primary factors are: 1) Experience Level, 2) Geographic Location, 3) Education/Skills, 4) Company Size & Industry

What industry pays the highest salary for Loan Processor?

The Financial Services industry offers the highest average compensation for Loan Processor roles, with salaries approximately 30% above the market median.

How does experience change A Loan Processor's salary?

A Loan Processor's salary grows with experience: a Loan Processor I (0-1 years)earns $38,997, a Loan Processor (1-3 years)earns $43,686, a Loan Processor III (3-5 years)earns $52,966, a Loan Processing Supervisor (5+ years)earns $57,240,

What are the highest paying cities for a Loan Processor?

Loan Processor salary varies significantly by city. The top 3 highest paying cities in Iowa for Loan Processor roles are San Jose $60,353, San Francisco $59,692, Oakland $58,434.

How much do different types of Loan Processor roles make?

Salaries for Loan Processor level roles vary by specialization: Sba Loan Processor: $60,330; Loan Processor III: $59,291; Jr Loan Processor: $50,803; Loan Processor II: $48,903; Retail Loan Processor: $47,505.

What specialized skills increase a Loan Processor's salary?

Skills with high demand and low supply, such as Team Operations (up to 7% premium), Leadership (up to 6% premium), Onboarding (up to 5% premium), directly translate to higher compensation. Employers pay more for these capabilities to gain a competitive edge.

Loan Processor Salary in Rock Rapids, IA

How much does a Loan Processor make in Rock Rapids, IA?

As of August 01, 2026, the average salary for a Loan Processor in Rock Rapids, IA is $44,013 per year, which breaks down to an hourly rate of $21.

However, a Loan Processor's salary can vary significantly. Here’s a look at the typical salary range:

Top Earners (90th percentile): $52,495
Majority Range (25th-75th percentile): $40,671 to $48,453
Entry-Level (10th percentile): $37,628

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Loan Processor Salaries by Percentile

	Annual Salary	Monthly Pay	Weekly Pay	Hourly Wage
75th Percentile	$48,453	$4,038	$932	$23
Average	$44,013	$3,668	$846	$21
25th Percentile	$40,671	$3,389	$782	$20

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Key Factors That Influence Loan Processor Salaries

A 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, skills and company size can directly affect your earning potential.

Top Paying Cities for Loan Processors

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: $60,353
San Francisco: $59,692
Oakland: $58,434

San Jose, CA $60,353

San Francisco, CA $59,692

Oakland, CA $58,434

New York, NY $55,093

Paramus, NJ $54,424

Queens Village, NY $54,421

Passaic, NJ $54,376

Bergenfield, NJ $54,371

Stamford, CT $54,266

Huntington, NY $54,246

Newark, NJ $53,893

Bridgeport, CT $53,792

Vallejo, CA $53,697

New Brunswick, NJ $53,678

Petaluma, CA $53,649

Middlesex, NJ $53,558

Somerset, NJ $53,524

Santa Cruz, CA $53,462

Boston, MA $53,170

Monterey, CA $53,002

Seattle, WA $52,893

Santa Rosa, CA $52,883

Los Angeles, CA $52,869

Juneau, AK $52,745

Washington, DC $52,692

Orange, CA $52,522

Santa Ana, CA $52,395

Long Beach, CA $52,347

Anaheim, CA $52,338

Anchorage, AK $52,314

Santa Maria, CA $52,170

Everett, WA $52,161

Danbury, CT $51,992

Bremerton, WA $51,926

Tacoma, WA $51,754

New Suffolk, NY $51,753

Sacramento, CA $51,740

Santa Barbara, CA $51,687

Trenton, NJ $51,634

San Diego, CA $51,634

Brockton, MA $51,582

Fairbanks, AK $51,465

Lompoc, CA $51,343

Lowell, MA $51,304

Ventura, CA $51,295

Nashua, NH $51,285

Stockton, CA $51,280

Modesto, CA $50,931

Poughkeepsie, NY $50,826

Olympia, WA $50,735

Kennewick, WA $50,735

New Haven, CT $50,716

Lawrence, MA $50,543

Hartford, CT $50,496

Riverside, CA $50,486

New Bedford, MA $50,438

Richland, WA $50,438

Bakersfield, CA $50,371

San Bernardino, CA $50,352

New Britain, CT $50,347

Atlantic City, NJ $50,347

New London, CT $50,328

Norwich, CT $50,314

Portsmouth, NH $50,304

Boulder, CO $50,203

Portland, OR $50,137

Worcester, MA $50,132

Minneapolis, MN $49,984

Philadelphia, PA $49,917

Honolulu, HI $49,759

Saint Paul, MN $49,736

Vineland, NJ $49,725

Providence, RI $49,586

Chicago, IL $49,448

Bellingham, WA $49,390

Springfield, MA $49,352

Baltimore, MD $49,338

Chico, CA $49,218

Pittsfield, MA $49,089

Manchester, NH $48,998

Spokane, WA $48,787

Denver, CO $48,783

Albany, NY $48,558

Troy, NY $48,539

Nassau, NY $48,487

Schenectady, NY $48,438

Wilmington, DE $48,400

Burlington, VT $48,333

Salem, OR $48,314

Portland, ME $48,165

Yakima, WA $48,117

Rochester, MN $47,969

Reno, NV $47,945

Fresno, CA $47,945

Milwaukee, WI $47,902

Detroit, MI $47,854

Ann Arbor, MI $47,846

Allentown, PA $47,840

Colorado Springs, CO $47,759

Syracuse, NY $47,735

Carson City, NV $47,735

Houston, TX $47,668

Eugene, OR $47,644

Gary, IN $47,586

Springfield, OR $47,548

Bismarck, ND $47,538

Galveston, TX $47,505

Medford, OR $47,433

Fort Collins, CO $47,414

Concord, NH $47,390

Austin, TX $47,376

Mesa, AZ $47,275

Reading, PA $47,271

Phoenix, AZ $47,266

Dallas, TX $47,251

Saint Cloud, MN $47,205

Madison, WI $47,141

Utica, NY $47,012

Rochester, NY $46,936

Des Moines, IA $46,931

Raleigh, NC $46,926

Atlanta, GA $46,854

Battle Creek, MI $46,840

Salt Lake City, UT $46,826

Lancaster, PA $46,754

Harrisburg, PA $46,687

Kansas City, MO $46,639

Champaign, IL $46,629

Kansas City, KS $46,629

Fort Worth, TX $46,625

Columbus, OH $46,616

Boca Raton, FL $46,605

Pittsburgh, PA $46,586

Richmond, VA $46,567

Indianapolis, IN $46,558

Cleveland, OH $46,553

Las Vegas, NV $46,495

Cincinnati, OH $46,495

Petersburg, VA $46,424

Huntsville, AL $46,352

Lansing, MI $46,320

Lebanon, PA $46,314

Pueblo, CO $46,309

Appleton, WI $46,294

Buffalo, NY $46,275

Dayton, OH $46,261

Racine, WI $46,251

Charlotte, NC $46,247

Saint Louis, MO $46,232

York, PA $46,203

Elkhart, IN $46,203

Gastonia, NC $46,194

Billings, MT $46,183

Beaumont, TX $46,170

Lorain, OH $46,160

Benton Harbor, MI $46,151

Toledo, OH $46,141

Binghamton, NY $46,117

Rock Hill, SC $46,113

Rockford, IL $46,089

Springfield, IL $46,069

Elyria, OH $46,065

Fargo, ND $46,065

Flagstaff, AZ $46,031

Fort Lauderdale, FL $46,003

Duluth, MN $45,974

Miami, FL $45,974

Cheyenne, WY $45,940

Grand Forks, ND $45,940

Bangor, ME $45,835

Cedar Rapids, IA $45,782

Durham, NC $45,762

Louisville, KY $45,758

Grand Rapids, MI $45,749

Hialeah, FL $45,744

Casper, WY $45,677

Scranton, PA $45,620

New Orleans, LA $45,605

Virginia Beach, VA $45,601

Akron, OH $45,577

Peoria, IL $45,514

Sarasota, FL $45,505

Nashville, TN $45,471

Omaha, NE $45,471

Green Bay, WI $45,471

Baton Rouge, LA $45,447

Charleston, SC $45,438

Jamestown, NY $45,414

Davenport, IA $45,414

Tucson, AZ $45,390

Saint Petersburg, FL $45,361

Tampa, FL $45,352

Evansville, IN $45,323

Port Arthur, TX $45,323

Bradenton, FL $45,304

Santa Fe, NM $45,218

Orlando, FL $45,132

Clearwater, FL $45,117

Canton, OH $45,017

La Crosse, WI $45,017

Albuquerque, NM $44,988

Newport News, VA $44,983

High Point, NC $44,969

Ogden, UT $44,950

Corpus Christi, TX $44,912

Norfolk, VA $44,883

Laramie, WY $44,883

Rock Island, IL $44,854

Saginaw, MI $44,845

Jacksonville, FL $44,840

Salisbury, NC $44,830

Boise, ID $44,821

Moline, IL $44,797

Fort Myers, FL $44,782

Memphis, TN $44,773

Tulsa, OK $44,749

Waterloo, IA $44,720

Spartanburg, SC $44,672

Lincoln, NE $44,648

Fort Wayne, IN $44,639

Provo, UT $44,634

Cedar Falls, IA $44,577

San Antonio, TX $44,557

Greensboro, NC $44,538

South Bend, IN $44,534

Savannah, GA $44,481

Muskegon, MI $44,462

Birmingham, AL $44,457

Winston Salem, NC $44,434

Lake Charles, LA $44,318

Anderson, IN $44,309

Lexington, KY $44,294

Augusta, GA $44,280

Greenville, SC $44,280

Lima, OH $44,242

Wichita, KS $44,237

Tuscaloosa, AL $44,237

Columbia, SC $44,194

Springfield, OH $44,184

Asheville, NC $44,108

Bloomington, IN $44,074

Knoxville, TN $43,902

Shreveport, LA $43,897

Wilmington, NC $43,835

Roanoke, VA $43,835

Topeka, KS $43,749

Frankfort, KY $43,744

Oklahoma City, OK $43,711

Chillicothe, OH $43,691

Longview, TX $43,687

Melbourne, FL $43,682

Sioux Falls, SD $43,605

Mobile, AL $43,600

Terre Haute, IN $43,581

Altoona, PA $43,553

Amarillo, TX $43,519

Killeen, TX $43,505

Fayetteville, AR $43,466

Chattanooga, TN $43,452

Sioux City, IA $43,409

Idaho Falls, ID $43,399

Lynchburg, VA $43,361

Gainesville, FL $43,299

Portsmouth, OH $43,275

Little Rock, AR $43,266

Lafayette, LA $43,246

Youngstown, OH $43,246

Daytona Beach, FL $43,218

Clarksville, TN $43,213

Pensacola, FL $43,208

Temple, TX $43,205

Hopkinsville, KY $43,065

Erie, PA $43,055

Florence, SC $43,036

Charleston, WV $42,959

Great Falls, MT $42,935

Macon, GA $42,868

Tallahassee, FL $42,864

Fayetteville, NC $42,854

Waco, TX $42,844

Helena, MT $42,811

Pine Bluff, AR $42,793

Vincennes, IN $42,734

Lubbock, TX $42,715

Alamogordo, NM $42,687

Twin Falls, ID $42,643

Rapid City, SD $42,629

Jackson, MS $42,543

Huntington, WV $42,540

Greenville, MS $42,538

Parkersburg, WV $42,489

Montgomery, AL $42,481

Wichita Falls, TX $42,433

Springfield, MO $42,433

Biloxi, MS $42,409

Monroe, LA $42,361

Johnstown, PA $42,328

Sumter, SC $42,309

Columbus, GA $42,304

Pascagoula, MS $42,213

Abilene, TX $42,213

Kingsport, TN $42,088

Albany, GA $42,088

Gulfport, MS $42,074

Alexandria, LA $41,916

Fort Smith, AR $41,797

El Paso, TX $41,667

Las Cruces, NM $41,452

Harlingen, TX $41,330

Pocatello, ID $41,323

Florence, AL $41,261

Brownsville, TX $41,251

Mcallen, TX $41,151

Dothan, AL $41,084

Columbus, MS $40,799

Altus, OK $40,576

Lawton, OK $40,485

Pierre, SD $40,313

What Skills Can Increase a Loan Processor's Salary?

Demanded Skills for the Role:

Customer Service (Mentioned in 9.84% 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 2.85% Job Postings): Transcribing information into an electronic medium such as a computer or other electronic device.
Loan Review (Mentioned in 1.38% 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	9.84%
Data Entry	2.85%
Loan Review	1.38%

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's salary.

Team Operations: Can increase your salary by up to 7%.
Leadership: Can increase your salary by up to 6%.
Onboarding: Can increase your salary by up to 5%.

Skill	Salary	Salary % Increase
Team Operations	$47,094	7%
Leadership	$46,654	6%
Onboarding	$46,214	5%
Prioritization	$46,214	5%
Presentation	$46,214	5%
Customer Relationship	$45,773	4%

Get Latest Data

Loan Processor Salary by Industry: Top Paying Sectors

For Loan Processor 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, Loan Processor positions in Business Services typically offer lower base pay, as this sector often view Loan Processor as a support function rather than a direct revenue driver.

The top paying industry for a Loan Processor

Industry Sector	Average Annual Salary	Average Hourly Rate	Pay vs.Avg
Financial Services	$57,217	$28.0	30%

Loan Processor Salary: Hourly Rate, Weekly Pay, and Monthly Pay

Understanding how a 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.

Last Updated on August 01, 2026

$40,671

Average $44,013/year

$48,453

$3,389

Average $3,668/month

$4,038

$782

Average $846/week

$932

$20

Average $21/hour

$23

	Annual Salary	Monthly Pay	Weekly Pay	Hourly Wage
75th Percentile	$48,453	$4,038	$932	$23
Average	$44,013	$3,668	$846	$21
25th Percentile	$40,671	$3,389	$782	$20

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