Loan Processor Salaries & Top Paying Companies in Chicago, IL

Position

City

Salary

How much does a Loan Processor make in Chicago, IL?

The average salary for a Loan Processor is $52,911 per year in Chicago, IL.

Graph depicting the yearly salary distribution for Loan Processor jobs in Chicago, IL, showing an average salary of $52,911 with varying distribution percentages across salary ranges.

Graph depicting the monthly salary distribution for Loan Processor jobs in Chicago, IL, showing an average salary of $4,409 with varying distribution percentages across salary ranges.

Graph depicting the weekly salary distribution for Loan Processor jobs in Chicago, IL, showing an average salary of $1,018 with varying distribution percentages across salary ranges.

Graph depicting the hourly salary distribution for Loan Processor jobs in Chicago, IL, showing an average salary of $25 with varying distribution percentages across salary ranges.

A Loan Processor in Chicago, IL, can expect to earn a competitive salary. The average yearly salary for this role is around $52,911. This figure provides a solid base for those looking to enter or advance in this field. The salary range varies, offering opportunities for growth and advancement.

The salary distribution shows that many Loan Processors earn between $42,364 and $67,455 annually. This range reflects the different levels of experience and skill within the profession. For instance, those with more experience or specialized skills may earn towards the higher end of the spectrum. This variety in earnings highlights the potential for career progression and financial stability in this role. Job seekers can look forward to a rewarding career with good earning potential.

What are the highest paying cities for a Loan Processor near Chicago, IL?

Job seekers looking for Loan Processor roles near Chicago, IL, will find competitive salaries in nearby cities. Schaumburg, IL, offers the highest average salary at $61,844. This makes it a prime location for those seeking better pay. Orland Park, IL, and Naperville, IL, also provide attractive salaries, with averages of $55,938 and $50,240, respectively. Exploring these cities can lead to rewarding career opportunities. Hammond, IN, while offering a lower average salary of $37,500, still presents viable options for those in the field. Each of these locations provides a chance to advance in the loan processing industry.

Graph displaying highest paying cities salaries for Loan Processor jobs near Chicago, IL, highlighting Schaumburg, IL with the highest at $61,844 and Hammond, IN with the lowest at $37,500.

Schaumburg, IL
Average Salary: $61,844
In Schaumburg, you'll find a thriving job market for those in the lending industry. With companies like Discover Financial Services, job seekers can expect a dynamic work environment. The area offers a mix of corporate and smaller firms, providing diverse opportunities.
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Orland Park, IL
Average Salary: $55,938
Orland Park presents a stable job market for lending professionals. Here, you can work with established firms such as Bank of America. The community offers a supportive atmosphere for career growth and development.
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Naperville, IL
Average Salary: $50,240
Naperville is known for its strong financial sector, making it a great place for lending jobs. Companies like Fifth Third Bank are prominent here. The city provides a balance of professional opportunities and a high quality of life.
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Hammond, IN
Average Salary: $37,500
In Hammond, job seekers can find rewarding positions in the lending industry. With local banks and credit unions, there are many options to explore. The area is known for its welcoming community and supportive work environment.
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What are the best paying companies for a Loan Processor in Chicago, IL?

Job seekers looking for Loan Processor positions in Chicago, IL, should consider companies like Accenture and Renovo Financial. These firms offer competitive salaries, with Accenture averaging $67,600 and Renovo Financial at $50,000. Both companies provide a stable and rewarding environment for those in the loan processing field.

Graph displaying best paying company salaries for Loan Processor jobs in Chicago, IL, highlighting Accenture with the highest at $67,600 and Renovo Financial with the lowest at $50,000.

Accenture
Average Salary: $67,600
Accenture offers Loan Processor jobs with a focus on technology and innovation. They provide opportunities in various locations across Chicago, including the Loop and West Loop. Their Loan Processors work on cutting-edge projects, ensuring efficiency and accuracy in loan processing.
Renovo Financial
Average Salary: $50,000
Renovo Financial provides Loan Processor jobs with a strong emphasis on customer service and quality. They operate in several locations in Chicago, such as River North and the South Loop. Loan Processors at Renovo Financial play a key role in managing loan applications and ensuring smooth processing.

What are the best paying Loan Processor related jobs in Chicago, IL?

Loan Processors in Chicago, IL, can find high-paying jobs in related fields. Processing Managers earn an average of $116,903 annually, offering a strong career path. Underwriters also enjoy a competitive salary of $110,593 per year, making it a lucrative choice.

Graph displaying best paying related job salaries for Loan Processor jobs near Chicago, IL, highlighting Processing Manager with the highest at $116,903 and Collections Specialist with the lowest at $50,313.

Processing Manager
Average Salary: $116,903
This role oversees the entire loan processing workflow. Managers ensure that all documents are accurate and complete. They work with teams to meet deadlines and improve efficiency.
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Underwriter
Average Salary: $110,593
Underwriters assess the risk of lending to a borrower. They review applications and financial documents. Underwriters make recommendations to approve or deny loans.
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Funding Specialist
Average Salary: $101,720
Funding specialists handle the final steps of loan processing. They coordinate with banks and other financial institutions. Specialists ensure that loans close smoothly and on time.
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Credit Analyst
Average Salary: $99,309
Credit analysts evaluate the creditworthiness of borrowers. They analyze financial statements and credit reports. Analysts provide insights to help lenders make informed decisions.
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Mortgage Loan Originator
Average Salary: $79,176
Loan originators connect with potential borrowers. They explain loan options and guide applicants through the process. Originators work to secure loan approvals and closings.
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Loan Servicing Specialist
Average Salary: $62,308
Servicing specialists manage ongoing loan accounts. They handle payments, adjustments, and customer inquiries. Specialists ensure borrowers stay current with their payments.
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Post Closer
Average Salary: $62,064
Post closers work on the final stages of loan processing. They handle paperwork and ensure all documents are in order. Closers coordinate with various departments to finalize loans.
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Collections Specialist
Average Salary: $50,313
Collections specialists handle past-due accounts. They contact borrowers to recover unpaid amounts. Specialists work to resolve delinquencies and maintain good relationships.
Find Collections Specialist jobs in Chicago, IL

Loan Processor Salary in Chicago, IL

How much does a Loan Processor make in Chicago, IL?

What are the highest paying cities for a Loan Processor near Chicago, IL?

What are the best paying companies for a Loan Processor in Chicago, IL?

Currently 372 Loan Processor job openings, nationwide.

How's the job market for a Loan Processor in the US?

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