Mortgage Loan Processor Salary in Wilmington, DE

What is the salary range of Mortgage Loan Processor?

As of December 01, 2024, the average annual pay of Mortgage Loan Processor in Wilmington, DE is $47,956. While Salary.com is seeing that Mortgage Loan Processor salary in Wilmington, DE can go up to $59,933 or down to $39,429, but most earn between $43,493 and $54,225. Salary.com shows the average base salary (core compensation), as well as the average total cash compensation for the job of Mortgage Loan Processor in the United States.

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Salary range for a Mortgage Loan Processor

$43,493 to $54,225

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What is a Mortgage Loan Processor?

A Mortgage Loan Processor is responsible for reviewing and verifying all documentation related to mortgage loan applications. They work closely with loan officers, underwriters, and borrowers to ensure that all necessary information is accurate and complete. This includes gathering financial documents, ordering appraisals and title reports, and coordinating with third-party vendors. The Mortgage Loan Processor also communicates with all parties involved to provide updates on the status of the loan application and ensure that all requirements are met for final approval. Additionally, they may be responsible for preparing and submitting the loan file to the underwriting department for review. Overall, the Mortgage Loan Processor plays a crucial role in the mortgage lending process by ensuring that all necessary steps are taken to facilitate the approval and funding of mortgage loans.

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Job Openings for Mortgage Loan Processor in Wilmington, DE

What does a Mortgage Loan Processor do?

Common responsibilities of a Mortgage Loan Processor

Collect and organize all necessary documentation from borrowers, such as income verification, credit reports, and property appraisals.

September 08, 2023

Communicate with borrowers, loan officers, and underwriters to ensure all necessary information is obtained and processed in a timely manner.

September 13, 2023

Coordinate with third-party vendors, such as title companies and insurance providers, to obtain required documents and services.

September 13, 2023

Review and verify mortgage loan applications for accuracy and completeness.

September 14, 2023

Ensure compliance with all federal and state regulations and company policies throughout the loan processing and approval process.

September 16, 2023

Prepare and submit loan files to underwriting for final approval.

October 29, 2023

Input and update loan information into the mortgage processing system.

November 02, 2023

Review and analyze financial documents, such as tax returns and bank statements, to assess borrower's creditworthiness.

November 09, 2023

Communicate loan status and updates to borrowers and loan officers throughout the processing timeline.

November 22, 2023

Assist with resolving any issues or discrepancies that arise during the loan processing and approval process.

November 29, 2023

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Mortgage Loan Processor Salary By Experience Levels in Wilmington, DE

How much should you be earning in Mortgage Loan Processor in Wilmington, DE based on your current experience?

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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.

Mortgage Loan Processor Salary By Level of Education in Wilmington, DE

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LEVEL OF EDUCATION

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Average Salary Range for Mortgage Loan Processor in Wilmington, DE

Average Base Salary

Core compensation

43493

54225

47956

Average Total Cash Compensation

Includes base and annual incentives

44974

56954

49976

What is the average salary for Mortgage Loan Processor in 2024?

These charts show the average base salary (core compensation), as well as the average total cash compensation for the job of Mortgage Loan Processor in Wilmington, DE. The base salary for Mortgage Loan Processor ranges from $43,493 to $54,225 with the average base salary of $47,956. The total cash compensation, which includes base, and annual incentives, can vary anywhere from $44,974 to $56,954 with the average total cash compensation of $49,976.

View Average Salary for Mortgage Loan Processor as table

	Average Salary	Average Salary Range
Base Salary	$47,956	$43,493 - $54,225
Bonus	$2,020	$1,481 - $2,729
Total Pay	$49,976	$44,974 - $56,954

* 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.

Mortgage Loan Processor Salary Near Wilmington, DE

CITY, STATE	AVERAGE SALARY RANGE	COMPARE TO Wilmington, DE
CITY, STATE New Castle, DE	AVERAGE SALARY RANGE $43,784 - $54,589	COMPARE TO Wilmington, DE
CITY, STATE Newark, DE	AVERAGE SALARY RANGE $43,751 - $54,548	COMPARE TO Wilmington, DE
CITY, STATE Delaware City, DE	AVERAGE SALARY RANGE $43,751 - $54,548	COMPARE TO Wilmington, DE
CITY, STATE Bear, DE	AVERAGE SALARY RANGE $43,734 - $54,527	COMPARE TO Wilmington, DE
CITY, STATE Middletown, DE	AVERAGE SALARY RANGE $43,757 - $54,556	COMPARE TO Wilmington, DE
CITY, STATE West Chester, PA	AVERAGE SALARY RANGE $43,701 - $54,485	COMPARE TO Wilmington, DE

See salaries for Mortgage Loan Processor in locations close to Wilmington, DE. 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 Wilmington, Delaware

According to the United States Census Bureau, the city has a total area of 17.0 square miles (44 km2). Of that, 10.9 square miles (28 km2) is land and 6.2 square miles (16 km2) is water. The total area is 36.25% water. The city sits at the confluence of the Christina River and the Delaware River, about 33 miles (53 km) southwest of Philadelphia. Wilmington Train Station, one of the southernmost stops on Philadelphia's SEPTA rail transportation system, is also served by Northeast Corridor Amtrak passenger trains. Wilmington is served by I-95 and I-495 within city limits. In addition, the twin-s...

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

View Salary for Similar Jobs to Mortgage Loan Processor in Wilmington, DE

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JOB TITLE	LOCATION	MINIMUM SALARY	MAXIMUM SALARY
JOB TITLE Intermediate Mortgage Loan Processor	LOCATION Wilmington, DE	MINIMUM SALARY $49,800	MAXIMUM SALARY $67,000
JOB TITLE Mortgage Loan Processor II	LOCATION Wilmington, DE	MINIMUM SALARY $49,726	MAXIMUM SALARY $66,952
JOB TITLE Entry Mortgage Loan Processor	LOCATION Wilmington, DE	MINIMUM SALARY $43,100	MAXIMUM SALARY $53,700
JOB TITLE Mortgage Loan Processor I	LOCATION Wilmington, DE	MINIMUM SALARY $43,099	MAXIMUM SALARY $53,672
JOB TITLE Mortgage Loan Processor Assistant	LOCATION Wilmington, DE	MINIMUM SALARY $41,322	MAXIMUM SALARY $51,460
JOB TITLE Senior Mortgage Loan Processor	LOCATION Wilmington, DE	MINIMUM SALARY $51,022	MAXIMUM SALARY $63,968

The Mortgage Loan Processor job could be listed using titles that are not exactly the same, but actually are for the same or very similar job. Here are some job titles in Wilmington, DE that might be a good fit for the type of job and salary you are looking for.

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43493

54225

About Wilmington, Delaware According to the United States Census Bureau, the city has a total area of 17.0 square miles (44 km2). Of that, 10.9 square miles (28 km2) is land and....More

Wilmington, Delaware area prices were up 1.0% from a year ago

Mortgage Loan Processor Salary in popular cities: Dover, Newark, Middletown

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