Know your market value with insights across roles — from individual contributors to executive pay and overall company compensation trends.
Access a suite of powerful calculators to make data-driven career decisions.
Automate pay cycles, manage job architectures, and ensure pay equity with AI-powered compensation platforms.
Access validated salary benchmarks, labor market trends, and minimum wage data to stay competitive.
Participate in and purchase industry-specific salary surveys to obtain the most accurate, peer-reported pay data.
As of August 01, 2026, the average salary for a Loan Processing Specialist in Illinois is $59,097 per year, which breaks down to an hourly rate of $28.
However, a Loan Processing Specialist's salary can vary significantly. Here’s a look at the typical salary range:
Compensation Planning
Develop a Job Description
Pay Equity
2026 Compensation Trend
AI-Powered Talent
AI-Powered HR
Loan Processing Specialist Salaries by Percentile
| Annual Salary |
Monthly Pay |
Weekly Pay |
Hourly Wage |
|
| 75th Percentile | $65,492 | $5,458 | $1,259 | $31 |
| Average | $59,097 | $4,925 | $1,136 | $28 |
| 25th Percentile | $53,582 | $4,465 | $1,030 | $26 |
Windsor Advantage - Chicago, IL
GFF - Manteno, IL
Actalent - Chicago Heights, IL
M/I Homes - Naperville, IL
A Loan Processing Specialist'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.
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 Processing Specialists. 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:
For Loan Processing Specialist 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, Edu., Gov't. & Nonprofit, offers compensation 10% above the average. Conversely, Loan Processing Specialist positions in Business Services typically offer lower base pay, as this sector often view Loan Processing Specialist as a support function rather than a direct revenue driver.
| Industry Sector | Average Annual Salary | Average Hourly Rate | Pay vs.Avg |
|---|---|---|---|
| Edu., Gov't. & Nonprofit | $65,007 | $31.0 | 10% |
Understanding how a Loan Processing Specialist'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 | $65,492 | $5,458 | $1,259 | $31 |
| Average | $59,097 | $4,925 | $1,136 | $28 |
| 25th Percentile | $53,582 | $4,465 | $1,030 | $26 |
Ready to take the next step in your career? Browse thousands of current Loan Processing Specialist job openings on our job board. Use the search bar below to find your perfect match.
Advocate Aurora Health
Oak Brook, IL
Advocate Aurora Health | Oak Brook, IL
Department:10422 IL Home Health Divisional - Patient Access Status:Full time Benefits Eligible:Yes Hours Per Week:40 Schedule Details/Additional Informatio... more
9 Days Ago
Old National Bancorp
Gurnee, IL
Old National Bancorp | Gurnee, IL
Mortgage Processing Specialist. Old National is currently looking to fill the position of Mortgage Processing Specialist. The Mortgage Processing Specialis... more
9 Days Ago
RJW LOGISTICS
Chicago, IL
RJW LOGISTICS | Chicago, IL
Retail Logistics Order Processing SpecialistThe OPS reports to the team Supervisor but will work in a supporting role with the RCSS to manage order input i... more
11 Days Ago
Legence Bank
Eldorado, IL
Legence Bank | Eldorado, IL
Job Description. Job Description. Job Posting TitleLoan Operations Specialist I. Job Description. Position Summary. The Loan Operations Specialist is respo... more
7 Days Ago
Banterra Corp.
Marion, IL
Banterra Corp. | Marion, IL
Job Description. Job Description. Pay Range: $17.13USD to $19.69USD. Summary: Responsible for performing general loan servicing duties. Preparation of comp... more
7 Days Ago
Legence Bank
Metropolis, IL
Legence Bank | Metropolis, IL
Job Description. Job Description. Job Posting TitleLoan Operations Specialist I. Job Description. Position Summary. The Loan Operations Specialist is respo... more
7 Days Ago
Get a Salary Increase
Analyze the market and your qualifications to negotiate your salary with confidence.
Search Job Openings
Search thousands of open positions to find your next opportunity.
Adjust Employee Salary
Individualize employee pay based on unique job requirements and personal qualifications.
Price My Industry Jobs
Get the latest market price for benchmark jobs and jobs in your industry.
Use Salary.com's Cost of Living Calculator to find out what income you need to maintain your standard of living in a different city and how much more or less money you need to budget for basic expenses.
Explore Cost of Living CalculatorSalary.com experts will help you thrive your workplaces.
Salary.com provides salary survey data for thousands of industry Jobs.
Salary.com salary estimates, histograms, trends, and comparisons are derived from both employer job postings and third-party data sources. We also provide multiple percentiles of salary information for your reference, click here to know Why the Salary Midpoint Formula Is Crucial to Getting Pay Equity Right. With more online, real-time compensation data than any other website, Salary.com helps you determine your exact pay target.
Salary.com's CompAnalyst platform offers:
