Loan Specialist Salary in New Bedford, Massachusetts

How much does a Loan Specialist make in New Bedford, MA?

As of April 01, 2025, the average annual salary for a Loan Specialist in New Bedford, MA is $63,010. According to Salary.com, salaries can range from a low of $46,996 to a high of $93,115, with most professionals earning between $54,628 and $78,768.

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Salary range for a Loan Specialist

$54,628 to $78,768

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Loan Specialist

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Job Openings for Loan Specialist in New Bedford, MA

What does a Loan Specialist do?

Common responsibilities of a Loan Specialist

Assist department by reporting any changes to internal controls or procedural changes as they occur to ensure policies and procedures are reflective of current processes and workflows.

November 25, 2022

Prepares memos with appropriate recommendations under Individual Delegated Authority (IDA) and to the appropriate approval authority for those transactions exceeding an IDA.

February 21, 2023

Requires High School diploma or equivalent and some 2+ year banking or loan processing, documentation or loan assistant experience or other directly related experience.

March 14, 2023

Completes a review of executed loan documentation packages to verify that all required documents have been received and signed accurately and authorizes the executed loan package to be boarded onto the Bank's loan system.

April 11, 2023

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Loan Specialist Salary By Experience Levels in New Bedford, MA

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RELEVANT JOB EXPERIENCE

Length of experience is a pay differentiator. Those with greater experience may have an advantage in negotiating salary. For those with less experience, other factors such as education or special skills could impact your pay. Please visit Professional Salary Report for more details.

Loan Specialist Salary By Level of Education in New Bedford, MA

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LEVEL OF EDUCATION

Depending on the job, educational levels may have a significant impact on pay levels. Be informed and understand how things like education and certifications can help to increase potential earnings for the career you are interested in. Please visit Professional Salary Report for more details.

Average Salary Range for Loan Specialist in New Bedford, MA

Average Base Salary

Core compensation

54628

78768

63010

Average Total Cash Compensation

Includes base and annual incentives

57435

82567

65620

What is the average salary for Loan Specialist in 2025?

These charts show the average base salary (core compensation), as well as the average total cash compensation for the job of Loan Specialist in New Bedford, MA. The base salary for Loan Specialist ranges from $54,628 to $78,768 with the average base salary of $63,010. The total cash compensation, which includes base, and annual incentives, can vary anywhere from $57,435 to $82,567 with the average total cash compensation of $65,620.

View Average Salary for Loan Specialist as table

	Average Salary	Average Salary Range
Base Salary	$63,010	$54,628 - $78,768
Bonus	$2,610	$2,807 - $3,798
Total Pay	$65,620	$57,435 - $82,567

* Base Salary represents gross income before taxes and deductions. It does not include additional pay such as benefits, bonuses, profit sharing or commissions.

* Total Pay combines base salary, bonuses, profit sharing, tips, commissions, overtime pay and other forms of cash earnings, as applicable for this job.

Loan Specialist Salary Near New Bedford, MA

CITY, STATE	AVERAGE SALARY RANGE	COMPARE TO New Bedford, MA
CITY, STATE Fall River, MA	AVERAGE SALARY RANGE $54,628 - $78,768	COMPARE TO New Bedford, MA 0%
CITY, STATE Tiverton, RI	AVERAGE SALARY RANGE $54,576 - $78,694	COMPARE TO New Bedford, MA
CITY, STATE Taunton, MA	AVERAGE SALARY RANGE $55,969 - $80,702	COMPARE TO New Bedford, MA
CITY, STATE Newport, RI	AVERAGE SALARY RANGE $54,245 - $78,216	COMPARE TO New Bedford, MA
CITY, STATE East Providence, RI	AVERAGE SALARY RANGE $53,655 - $77,365	COMPARE TO New Bedford, MA
CITY, STATE Plymouth, MA	AVERAGE SALARY RANGE $55,389 - $79,866	COMPARE TO New Bedford, MA

See salaries for Loan Specialist in locations close to New Bedford, MA. Pay for the same job may vary based on the location and on the location and on other factors such as the size of company, the industry, and other local conditions.

About New Bedford, Massachusetts

New Bedford is a city in Bristol County, Massachusetts, United States. As of the 2010 census, the city had a total population of 95,072, making it the sixth-largest city in Massachusetts. New Bedford is nicknamed "The Whaling City" because during the 19th century, the city was one of the most important whaling ports in the world, along with Nantucket, Massachusetts and New London, Connecticut. The city, along with Fall River and Taunton, make up the three largest cities in the South Coast region of Massachusetts and is known for its fishing fleet and accompanying seafood producing industries ...

Source: Wikipedia (as of 04/11/2019). Read more from Wikipedia

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