Loan Processor Trainee Salaries in Chicago, IL
How Much Does a Loan Processor Trainee Make in Chicago, IL?
Updated April 01, 2025
As of April 01, 2025,
the average annual pay of Loan Processor Trainee in Chicago, IL is $52,073.
While Salary.com is seeing that Loan Processor Trainee salary in Chicago, IL can go up to $63,158
or down to $42,926, but most earn between $47,285 and $57,875.
Salary ranges can vary widely depending on many important factors,
including education, certifications, additional skills, and your experience levels.
With more online, real-time compensation data than any other website, Salary.com helps you determine your exact pay target.
Related Job Titles to Loan Processor Trainee
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Similar Job Salaries to Loan Processor Trainee by Company
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| Company | average base salary in (usd) | range |
|---|---|---|
|
Fay Financial
Loan Processor
|
$66,509/yr
|
RANGE: $57,273 - $75,744
|
|
Constructive Capital
Loan Processor
|
$66,509/yr
|
RANGE: $57,273 - $75,744
|
|
American Community Bank & Trust
Commercial Loan Processor
|
$58,943/yr
|
RANGE: $50,724 - $67,162
|
|
LIFESTONE MORTGAGE CORPORATION
Contract loan processor
|
$66,941/yr
|
RANGE: $57,268 - $76,614
|
|
Busey
Mortgage Loan Processor
|
$52,751/yr
|
RANGE: $45,688 - $59,814
|
|
BMO U.S.
NMLS Certified Loan Processor
|
$58,834/yr
|
RANGE: $48,509 - $69,159
|
|
IH Mississippi Valley Credit Union
Commercial Loan Processor
|
$63,694/yr
|
RANGE: $54,068 - $73,320
|
What Does a Loan Processor Trainee Do?
Our mortgage loan processors collaborate with customers, underwriting, and our sales team to make the dream of homeownership possible by gathering and analyzing documents to make a complete loan file.
Updated December 08, 2021
The loan processor who works with the broker will essentially send conditions to the AM that works at the bank so they can be signed off.
Updated December 04, 2021
In a nutshell, the loan originator hustles to bring in new borrowers and the loan processor hustles to get the loans funded, while both may irritate the underwriter in the process.
Updated November 25, 2021
However, some processors are actually more knowledgeable than the more sales-oriented loan officers because they handle more volume and may have more years of mortgage experience under their belt.
Updated November 21, 2021
Assuming the loan is approved, the processor will receive a list of prior-to-document conditions (PTDs) that must be met before loan documents are released by the bank.
Updated November 19, 2021
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Explore JobArchitectFrequently Asked Questions About a Loan Processor Trainee Salaries
What is the average of a Loan Processor Trainee in Chicago, IL?
The Loan Processor Trainee salary range is from $47,285 to $57,875, and the average Loan Processor Trainee salary is $52,073/year in Chicago, IL.
The Loan Processor Trainee's salary will change in different locations.
Which location pays the highest Loan Processor Trainee salary in the United States?
The Loan Processor Trainee salary in San Jose, CA is $63,556
which is the highest in the US.
What kinds of reasons will influence the Loan Processor Trainee's salary?
Besides the location, employees' education degree, related skills, and work experience also will influence the salary.
Try to improve your skills and experience to get a higher salary for the position of Loan Processor Trainee.
What is the growth rate of the Loan Processor Trainee's salary?
If you are thinking of becoming a Loan Processor Trainee or planning the next step in your career, find the detailed salary report of a Loan Processor Trainee.
