What are the main factors that influence a Mortgage Processor's salary?

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

How does experience change A Mortgage Processor's salary?

A Mortgage Processor's salary grows with experience: a Mortgage Processor (0-1 years)earns $47,514, a Mortgage Loan Processor II (1-3 years)earns $52,905, a Loan Processing Manager (3-5 years)earns $102,177,

What are the highest paying states for a Mortgage Processor?

Mortgage Processor salary varies significantly by state. The top 3 highest paying states for Mortgage Processor roles are District of Columbia $50,361, California $50,170, Massachusetts $49,501. These tech hubs typically pay 10-15% above the national average.

How much do different types of Mortgage Processor roles make?

Salaries for Mortgage Processor level roles vary by specialization: Senior Mortgage Processor: $64,659; Mortgage Processor 4: $59,377; Senior Mortgage Loan Processor: $59,283; Mortgage Loan Processor: $53,165; Intermediate Mortgage Loan Processor: $50,200.

Mortgage Processor Salary in Rhode Island

How much does a Mortgage Processor make in Rhode Island?

As of May 18, 2021, the average salary for a Mortgage Processor in Rhode Island is $47,486 per year, which breaks down to an hourly rate of $23.

However, a Mortgage Processor's salary can vary significantly. Here’s a look at the typical salary range:

Top Earners (90th percentile): $53,931
Majority Range (25th-75th percentile): $44,139 to $50,860
Entry-Level (10th percentile): $41,092

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Mortgage Processor Salaries by Percentile

	Annual Salary	Monthly Pay	Weekly Pay	Hourly Wage
75th Percentile	$50,860	$4,238	$978	$24
Average	$47,486	$3,957	$913	$23
25th Percentile	$44,139	$3,678	$849	$21

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Key Factors That Influence Mortgage Processor Salaries

A Mortgage Processor'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 Mortgage Processor 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 Mortgage Processors. For example, consider the average annual salaries in these key locations:

District of Columbia: $50,361.
California: $50,170.
Massachusetts: $49,501.

District of Columbia $50,361 California $50,170 Massachusetts $49,501 Washington $49,319 New Jersey $49,301 Alaska $49,237 Connecticut $48,610 New York $48,355

Hawaii $47,541 Rhode Island $47,159 Maryland $46,899 Minnesota $46,544 Colorado $46,408 Illinois $46,363 Oregon $46,190 Delaware $46,062

New Hampshire $45,982 Virginia $45,803 Pennsylvania $45,280 Nevada $45,016 North Dakota $44,930 Michigan $44,793 Wisconsin $44,743 Vermont $44,643

Texas $44,366 Maine $44,348 Arizona $44,320 Ohio $44,288 Georgia $43,870 Indiana $43,661 Wyoming $43,620 Utah $43,556

Iowa $43,529 Kansas $43,311 Louisiana $43,247 North Carolina $43,224 Missouri $43,215 Florida $43,038 Montana $42,942 Nebraska $42,851

Kentucky $42,801 South Carolina $42,619 Tennessee $42,505 Idaho $42,460 New Mexico $42,128 Oklahoma $42,055 Alabama $41,787 South Dakota $41,336

Arkansas $41,091 West Virginia $40,959 Mississippi $40,563

Top Paying Cities for Mortgage Processors

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:

Adamsville: $47,932
Albion: $47,136
Ashaway: $48,114

Adamsville, RI $47,932 Albion, RI $47,136 Ashaway, RI $48,114 Barrington, RI $47,136 Block Island, RI $47,864 Bradford, RI $48,082 Bristol, RI $47,090 Carolina, RI $47,691

Charlestown, RI $47,741 Chepachet, RI $47,045 Clayville, RI $47,090 Coventry, RI $47,045 West Greenwich, RI $47,013 East Greenwich, RI $47,077 Exeter, RI $48,082 Fiskeville, RI $47,136

Forestdale, RI $47,090 Foster, RI $47,013 Glendale, RI $47,013 Greene, RI $47,541 Greenville, RI $47,136 Harmony, RI $47,122 Harrisville, RI $47,045 Hope, RI $47,136

Hope Valley, RI $48,114 Hopkinton, RI $48,127 Jamestown, RI $47,645 Kenyon, RI $48,068 Little Compton, RI $47,914 Manville, RI $47,136 Mapleville, RI $47,013 Newport, RI $47,654

Middletown, RI $47,854 North Kingstown, RI $46,999 North Scituate, RI $47,122 Oakland, RI $47,058 Pascoag, RI $47,031 Pawtucket, RI $47,136 Central Falls, RI $47,136 Cumberland, RI $47,136

Lincoln, RI $47,136 Portsmouth, RI $47,463 Prudence Island, RI $47,045 Rockville, RI $48,127 Saunderstown, RI $47,673 Shannock, RI $48,055 Slatersville, RI $47,090 Slocum, RI $47,673

Tiverton, RI $47,945 Wakefield, RI $47,622 Kingston, RI $47,632 Narragansett, RI $47,641 Peace Dale, RI $47,622 Warren, RI $47,122 Warwick, RI $47,136 Westerly, RI $48,141

West Kingston, RI $47,659 West Warwick, RI $47,136 Wood River Junction, RI $48,082 Woonsocket, RI $47,090 North Smithfield, RI $47,122 Wyoming, RI $48,068 Providence, RI $47,136 Cranston, RI $47,136

North Providence, RI $47,136 East Providence, RI $47,136 Riverside, RI $47,136 Rumford, RI $47,136 Smithfield, RI $47,136 Johnston, RI $47,136

Mortgage Processor Salary: Hourly Rate, Weekly Pay, and Monthly Pay

Understanding how a Mortgage Processor'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

$44,139

Average $47,486/year

$50,860

$3,678

Average $3,957/month

$4,238

$849

Average $913/week

$978

$21

Average $23/hour

$24

	Annual Salary	Monthly Pay	Weekly Pay	Hourly Wage
75th Percentile	$50,860	$4,238	$978	$24
Average	$47,486	$3,957	$913	$23
25th Percentile	$44,139	$3,678	$849	$21

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