How much does a loan clerk make?
Answer: A typical loan clerk in the United States makes $50,020 a year (median, May 2025, US Bureau of Labor Statistics).
Line up 100 people; this is the one in the middle (median). about 165,000 people work in this job. About the same as the US-wide typical pay ($50,980).
If 100 people had this job
Lowest at bottom-left, highest at top-rightHover over a person to see their yearly pay
Loan clerk pay in the United States (May 2025, median and spread)
| 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 |
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.
What if you lived in a different state?
Pay varies a lot by state in the USTop 5 and bottom 3 states, typical (median) yearly pay.
What does a loan clerk do?
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.
What's a typical day like?
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.
How to get this job
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.
Vocational school or a few years' experience (preparation level 3 of 5)
Good for people who like keeping things organized and leading and selling.
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.
Similar jobs
Jobs using similar skills (O*NET)Earn more in the same field
Office and Administrative Support jobs that pay a bit moreSources and data
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