Position
Salary

How much does a Loan Specialist make?

The average salary for a Loan Specialist is $91,652 per year in the US.

Loan Specialists play a key role in the financial industry. They help people get loans for homes, cars, and other needs. The average yearly salary for a Loan Specialist is $91,652. This means most Loan Specialists earn between $30,000 and $318,000 each year. The salary can vary based on experience and location.

Here are some salary details for Loan Specialists:

  • The lowest 10% earn less than $30,000.
  • The next 10% earn between $30,000 and $56,182.
  • The middle 20% earn between $56,182 and $82,364.
  • The next 20% earn between $82,364 and $134,727.
  • The top 10% earn more than $239,455.

View Loan Specialist jobs nearby

What are the highest paying cities for a Loan Specialist?

Job seekers looking for Loan Specialist positions can find some of the highest salaries in Birmingham, Alabama, where the average salary reaches $198,213. Miami, Florida, and Atlanta, Georgia, also offer competitive pay, with average salaries of $173,915 and $169,834, respectively. These cities provide excellent opportunities for those in the loan industry.
Graph displaying highest paying cities salaries for Loan Specialist jobs, highlighting Birmingham, AL with the highest at $198,213 and El Paso, TX with the lowest at $133,020.
  1. Birmingham, AL
    Average Salary: $198,213
    In Birmingham, professionals in the lending field enjoy a vibrant community. With major banks and financial institutions, this city offers many opportunities. The average salary for these roles is competitive.
    Find Loan Specialist jobs in Birmingham, AL


  2. Miami, FL
    Average Salary: $173,915
    Miami's dynamic economy makes it a great place for lending professionals. The city's diverse financial sector provides numerous job openings. The average salary here is attractive for those in the field.
    Find Loan Specialist jobs in Miami, FL


  3. Atlanta, GA
    Average Salary: $169,834
    Atlanta is a hub for finance and lending. With many large banks and financial companies, it offers a wealth of opportunities. The average salary for these roles is quite good.
    Find Loan Specialist jobs in Atlanta, GA


  4. Athens, GA
    Average Salary: $160,111
    Athens provides a smaller, yet growing market for lending professionals. The city's financial institutions offer a supportive environment. The average salary here is reasonable.
    Find Loan Specialist jobs in Athens, GA


  5. Yuma, AZ
    Average Salary: $152,066
    Yuma offers a more relaxed pace for lending professionals. The city's financial sector is growing, providing steady job opportunities. The average salary is decent.
    Find Loan Specialist jobs in Yuma, AZ


  6. Tucson, AZ
    Average Salary: $144,043
    Tucson's financial industry is expanding, offering good prospects for lending professionals. The city's diverse economy provides various job opportunities. The average salary is competitive.
    Find Loan Specialist jobs in Tucson, AZ


  7. Huntsville, AL
    Average Salary: $142,922
    Huntsville is known for its strong aerospace industry, which also supports a growing financial sector. This city offers many opportunities for lending professionals. The average salary is attractive.
    Find Loan Specialist jobs in Huntsville, AL


  8. Albany, NY
    Average Salary: $141,361
    Albany, with its rich history, offers a stable environment for lending professionals. The city's financial institutions provide numerous job openings. The average salary is good.
    Find Loan Specialist jobs in Albany, NY


  9. Augusta, GA
    Average Salary: $133,228
    Augusta's financial sector is steady, offering a good environment for lending professionals. The city's institutions provide many job opportunities. The average salary is reasonable.
    Find Loan Specialist jobs in Augusta, GA


  10. El Paso, TX
    Average Salary: $133,020
    El Paso offers a unique market for lending professionals. The city's financial sector is growing, providing various opportunities. The average salary is competitive.
    Find Loan Specialist jobs in El Paso, TX

What are the best companies a Loan Specialist can work for?

Job seekers looking for Loan Specialist positions can find top-tier opportunities with United Mortgage Lending, which offers an average salary of $343,438. Serv Corp also stands out with an average salary of $280,000. Loanleaders of America provides a competitive salary of $262,708, making it another excellent choice. These companies offer attractive compensation packages, making them attractive to professionals in the field. Paramount Residential Mortgage Group and E Mortgage Capital also provide strong salaries, with averages of $239,566 and $218,578, respectively.
Graph displaying best paying company salaries for Loan Specialist jobs, highlighting United Mortgage Lending with the highest at $343,438 and Mission Loans LLC with the lowest at $146,653.
  1. United Mortgage Lending
    Average Salary: $343,438
    United Mortgage Lending offers exciting Loan Specialist roles. They operate nationwide, with offices in major cities. Their team works on a variety of mortgage products, ensuring clients get the best deals.


  2. Serv Corp
    Average Salary: $280,000
    Serv Corp provides Loan Specialist positions with a competitive salary. They have locations across the U.S., focusing on customer service and satisfaction. Their specialists work on different types of loans, helping clients achieve their financial goals.


  3. Loanleaders of America
    Average Salary: $262,708
    Loanleaders of America is a top choice for Loan Specialists. They have offices in many states, offering a dynamic work environment. Their team assists clients with various loan needs, ensuring a smooth application process.


  4. Paramount Residential Mortgage Group
    Average Salary: $239,566
    Paramount Residential Mortgage Group offers Loan Specialist jobs with a strong salary. They operate in several states, providing a range of mortgage services. Their specialists work closely with clients to find the right loan options.


  5. E Mortgage Capital
    Average Salary: $218,578
    E Mortgage Capital provides Loan Specialist roles with a good salary. They have locations in key areas, focusing on innovative mortgage solutions. Their team helps clients navigate the loan process with ease.


  6. Lima One Capital
    Average Salary: $197,500
    Lima One Capital offers Loan Specialist positions with a solid salary. They operate in multiple states, offering a variety of mortgage services. Their specialists work to provide clients with the best loan options.


  7. Citizens Financial
    Average Salary: $183,286
    Citizens Financial provides Loan Specialist jobs with a competitive salary. They have offices in many locations, focusing on customer-centric services. Their team assists clients in finding the right mortgage solutions.


  8. eMortgage Funding
    Average Salary: $162,500
    eMortgage Funding offers Loan Specialist roles with a good salary. They have locations across the U.S., providing a range of mortgage services. Their specialists help clients with their loan needs, ensuring a smooth process.


  9. Wells Fargo
    Average Salary: $158,633
    Wells Fargo provides Loan Specialist positions with a solid salary. They have branches nationwide, offering a variety of mortgage products. Their team works to help clients find the best loan options for their needs.


  10. Mission Loans LLC
    Average Salary: $146,653
    Mission Loans LLC offers Loan Specialist jobs with a decent salary. They have offices in several states, focusing on customer service. Their specialists assist clients with their mortgage needs, providing a smooth application process.

How to earn more as a Loan Specialist?

A Loan Specialist can increase their earnings by focusing on several key areas. Building strong relationships with clients and understanding their needs can lead to more successful loan approvals. This trust can also result in referrals, which can bring in additional business. Staying updated on industry trends and regulations ensures that the specialist can offer the best advice and services. Continuous education and obtaining relevant certifications can also enhance skills and knowledge, making the specialist more valuable to employers.

Improving efficiency and productivity can lead to higher earnings. This includes mastering loan processing software and developing a streamlined workflow. Networking with other professionals in the industry can open up opportunities for career advancement. Seeking out roles with higher responsibility or in areas with higher demand can also increase earning potential. Lastly, negotiating salary and benefits effectively can ensure that the specialist is compensated fairly for their skills and experience.

Here are five factors to consider for earning more as a Loan Specialist:

  1. Client Relationships: Build strong, trust-based relationships with clients.
  2. Continuous Education: Stay updated with industry trends and obtain relevant certifications.
  3. Efficiency: Improve workflow and master loan processing software.
  4. Networking: Connect with other professionals to discover new opportunities.
  5. Career Advancement: Seek roles with higher responsibility and demand.

Currently 1,324 Loan Specialist job openings, nationwide.

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

Learn what a Loan Specialist does, how to become one, and understand the job outlook. Get simple steps to start your career as a Loan Specialist today.
Position
Overview
Loan Specialist
1,324 Job Openings