How much does a loan clerk make?
a year · about $24 an hour
A typical loan clerk in the United States makes $50,020 a year, about $24 an hour, about the same as a typical US worker (median, May 2025, US Bureau of Labor Statistics).
What do they do?
They speak with loan applicants, check personal and financial details, and compare forms with credit or reference information. Then they enter records, follow up on missing papers, and prepare closing documents for the next team.
Did you know? A loan clerk’s work can continue after approval: some check whether borrowers pay on time and follow the loan’s rules.
Is that a lot?
Compared with jobs you knowIf 100 people had this job
Most earn between $37,330 and $69,770How do you become one?
In the U.S., a high school diploma or equivalent is usually enough, and most financial clerks learn on the job. Mortgage-processor registration rules depend on the state and work arrangement, so check your state regulator.
School needed: Vocational school or a few years' experience
Good for people who like keeping things organized and leading and selling
Why does pay differ?
In the U.S., pay can vary with experience, useful credentials, the employer, and location. More complex loan tasks may pay more, too.
Where does it pay most?
Highest in Maryland ($59,430), lowest in Mississippi ($39,120).
See every state
Top 5 and bottom 3 states, typical (median) yearly pay.
Jobs like this
Data table and sources
| Lower earner (10th from bottom) | Typical person (median) | Higher earner (10th from top) | People in this job |
|---|---|---|---|
| $37,330 | $50,020 | $69,770 | about 165,000 |
| State | Typical person (median) | People in this job |
|---|---|---|
| Maryland | $59,430 | about 2,000 |
| Connecticut | $58,980 | about 970 |
| Massachusetts | $58,940 | about 2,000 |
| New Jersey | $58,760 | about 4,000 |
| Washington | $58,740 | about 3,000 |
Official definition: Interview loan applicants to elicit information; investigate applicants’ backgrounds and verify references; prepare loan request papers; and forward findings, reports, and documents to appraisal department. Review loan papers to ensure completeness, and complete transactions between loan establishment, borrowers, and sellers upon approval of loan.
Source: US Bureau of Labor Statistics, OEWS May 2025 (bls.gov); descriptions and related jobs from O*NET 31.0. Figures as of May 2025, full-time yearly pay (hourly × 2,080 hours). bls.gov/oes · O*NET OnLine
Pages used for the text
- www.bls.gov/ooh/office-and-administrative-support/financial-clerks.htm
- www.onetonline.org/link/summary/43-4131.00
- www.bls.gov/careeroutlook/2015/article/wage-differences.htm
- www.bls.gov/oes/2023/may/oes434131.htm
- nccob.nc.gov/financial-institutions/mortgage/mortgage-frequently-asked-questions
- kfi.ky.gov/newstatic_info.aspx?static_id=238
Data: US BLS OEWS, May 2025 · 1 USD = 150 JPY