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Mortgage Loan Closer Salary

$33,690 (USD)

Average Salary

$16/hr

Average Hourly

$576

Average Bonus

Last updated: December 11, 2019

The average pay for a Mortgage Loan Closer is $33,690 a year and $16 an hour in the United States. The average salary range for a Mortgage Loan Closer is between $25,842 and $40,100. On average, a Bachelor's Degree is the highest level of education for a Mortgage Loan Closer. This compensation analysis is based on salary survey data collected directly from employers and anonymous employees in the United States.

ERI’s compensation data are based on salary surveys conducted and researched by ERI. Cost of labor data in the Assessor Series are based on actual housing sales data from commercially available sources, plus rental rates, gasoline prices, consumables, medical care premium costs, property taxes, effective income tax rates, etc.

Average Salary Chart

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Description:
  • Closes mortgage loans by scheduling closing procedures and typing documents.
  • Examines approved mortgage loan to determine conditions that must be met prior to closing, such as purchase of private mortgage insurance.
  • Calls borrower, real estate broker, and title company to request specified documents, such as receipt for payment of outstanding tax bill.
  • Verifies accuracy and consistency of specifications on documents, such as title abstract and insurance forms.
  • Calls borrower, broker, and other specified individuals to arrange time and date for closing.
  • Answers questions regarding closing requirements.
  • Enters numbers and calculates loan interest and principal payment, and closing costs, using computer or factor table and calculator.
  • Types closing documents.
  • Assembles documents for delivery to title company, real estate broker, or lending officer for closing.
  • Records loan information in log and on government reporting forms, using computer.
  • May compile closed loan forms for delivery to marketing department for sale to investors.
Mortgage Loan Closer Job Prevalence in the United States

Job family: Loan Interviewers and Clerks

Job family population: 222,620

Estimated population of Mortgage Loan Closer jobs: 14,196

Rate of error: 1.6%

Estimated salary in 2024:
$39,056
5 Year Change:
16 %
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About United States

United States Cost of Living Score:

Mortgage Loan Closer Job Listings for United States

Mortgage Loan Closer (*Direct Placement*) #102807
Dec 9
Lake Mary, FL, USA
Contemporary Staffing Solutions
As the Mortgage Loan Closer, you will primarily be responsible for providing quality closing on mortgage loan files and maintaining positive relationships between peers and managers, as well as ...
Mortgage Loan Closer
Dec 9
Appleton, WI, USA
Homestead Funding Corp.
We are looking for experienced Mortgage Loan Closers to join our successful and growing team at Homestead Funding Corp! We have positions open for our offices in Appleton, Wisconsin and New York ...
Mortgage Loan Closer
Dec 6
Kansas City, MO, USA
First Mortgage Solutions, LLC
First Mortgage Solutions is seeking a Mortgage Loan Closer at our company's main office at 9237 Ward Parkway Ste 300 Kansas City, MO 64114. Pay will be salary and determined based on qualifications
Mortgage Loan Closer
Dec 6
Cary, NC, USA
Grayton Mortgage, Inc.
A growing Brooklyn, New York based mortgage bank is looking to hire a part-time, experienced Mortgage Loan Closer, former Loan Originator, or other mortgage professional interested in closing ...
Mortgage Loan Closer
Dec 3
Boca Raton, FL, USA
JG Wentworth Home Lending, LLC
​ Mortgage Loan Closer J.G. Wentworth Home Lending is seeking a Mortgage Loan Closer. This individual is responsible for the preparation of closing instructions and performing company procedures ...

The average pay for a Mortgage Loan Closer is $33,690 a year and $16 an hour in the United States. The average salary range for a Mortgage Loan Closer is between $25,842 and $40,100. On average, a Bachelor's Degree is the highest level of education for a Mortgage Loan Closer. This compensation analysis is based on salary survey data collected directly from employers and anonymous employees in the United States.

ERI’s compensation data are based on salary surveys conducted and researched by ERI. Cost of labor data in the Assessor Series are based on actual housing sales data from commercially available sources, plus rental rates, gasoline prices, consumables, medical care premium costs, property taxes, effective income tax rates, etc.

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Mortgage Loan Closer (*Direct Placement*) #102807
Dec 9
Lake Mary, FL, USA
Contemporary Staffing Solutions
As the Mortgage Loan Closer, you will primarily be responsible for providing quality closing on mortgage loan files and maintaining positive relationships between peers and managers, as well as ...
Mortgage Loan Closer
Dec 9
Appleton, WI, USA
Homestead Funding Corp.
We are looking for experienced Mortgage Loan Closers to join our successful and growing team at Homestead Funding Corp! We have positions open for our offices in Appleton, Wisconsin and New York ...
Explore our most popular jobs
View our most popular salary searches and other resources