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

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

How does experience change A Loan Processing Specialist's salary?

A Loan Processing Specialist's salary grows with experience: a Loan Processor I (0-1 years)earns $49,293, a Loan Processor II (1-3 years)earns $55,198, a Loan Processing Specialist (3-5 years)earns $66,843, a Loan Processing Supervisor (5+ years)earns $72,245,

What are the highest paying states for a Loan Processing Specialist?

Loan Processing Specialist salary varies significantly by state. The top 3 highest paying states for Loan Processing Specialist roles are District of Columbia $65,638, California $65,389, Massachusetts $64,517. These tech hubs typically pay 10-15% above the national average.

How much do different types of Loan Processing Specialist roles make?

Salaries for Loan Processing Specialist level roles vary by specialization: Loan Processing Manager: $96,796; Business Loan Processing Manager: $73,400; Commercial Loan Processing Manager: $73,330; Loan Processing Assistant Manager: $73,323; Loan Processing Supervisor: $63,989.

Loan Processing Specialist Salary in District of Columbia

How much does a Loan Processing Specialist make in District of Columbia?

As of May 18, 2021, the average salary for a Loan Processing Specialist in District of Columbia is $65,982 per year, which breaks down to an hourly rate of $32.

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

Top Earners (90th percentile): $79,787
Majority Range (25th-75th percentile): $59,794 to $73,208
Entry-Level (10th percentile): $54,161

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Loan Processing Specialist Salaries by Percentile

	Annual Salary	Monthly Pay	Weekly Pay	Hourly Wage
75th Percentile	$73,208	$6,101	$1,408	$35
Average	$65,982	$5,498	$1,269	$32
25th Percentile	$59,794	$4,983	$1,150	$29

You may get higher pay by adjusting the following factors:

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Check out Loan Processing Specialist Job Openings in District of Columbia

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Key Factors That Influence Loan Processing Specialist Salaries

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.

How Do Loan Processing Specialist Salaries Vary from State to State?

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:

District of Columbia: $65,638.
California: $65,389.
Massachusetts: $64,517.

District of Columbia $65,638 California $65,389 Massachusetts $64,517 Washington $64,280 New Jersey $64,257 Alaska $64,174 Connecticut $63,356 New York $63,024

Hawaii $61,962 Rhode Island $61,464 Maryland $61,126 Minnesota $60,664 Colorado $60,486 Illinois $60,427 Oregon $60,202 Delaware $60,036

New Hampshire $59,931 Virginia $59,698 Pennsylvania $59,016 Nevada $58,672 North Dakota $58,560 Michigan $58,382 Wisconsin $58,316 Vermont $58,186

Texas $57,824 Maine $57,801 Arizona $57,765 Ohio $57,724 Georgia $57,178 Indiana $56,906 Wyoming $56,852 Utah $56,769

Iowa $56,734 Kansas $56,449 Louisiana $56,366 North Carolina $56,336 Missouri $56,325 Florida $56,093 Montana $55,969 Nebraska $55,850

Kentucky $55,785 South Carolina $55,548 Tennessee $55,400 Idaho $55,340 New Mexico $54,908 Oklahoma $54,813 Alabama $54,463 South Dakota $53,876

Arkansas $53,556 West Virginia $53,384 Mississippi $52,868

Top Paying Cities for Loan Processing Specialists

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:

Parcel Return Service: $65,638
Washington: $65,638
Naval Anacost Annex: $65,638

Parcel Return Service, DC $65,638 Washington, DC $65,638 Naval Anacost Annex, DC $65,638 Washington Navy Yard, DC $65,638

Loan Processing Specialist Salary: Hourly Rate, Weekly Pay, and Monthly Pay

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.

Last Updated on May 18, 2021

$59,794

Average $65,982/year

$73,208

$4,983

Average $5,498/month

$6,101

$1,150

Average $1,269/week

$1,408

$29

Average $32/hour

$35

	Annual Salary	Monthly Pay	Weekly Pay	Hourly Wage
75th Percentile	$73,208	$6,101	$1,408	$35
Average	$65,982	$5,498	$1,269	$32
25th Percentile	$59,794	$4,983	$1,150	$29

Salaries of jobs related to Loan Processing Specialist

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