
Loan Doc Specialist salaries vary based on location, with the highest average salary in New York City at $83,000 per year.
In the United States, the average Loan Doc Specialist salary is around $65,000 per year.
The national average salary range for Loan Doc Specialists is between $55,000 and $85,000 per year.
Loan Doc Specialists with 5-10 years of experience can expect to earn an average salary of $75,000 per year.
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Salary Information
The average loan doc specialist salary in the United States is $38,480, with salaries ranging between $25,000 and $58,000 yearly.
Loan doc specialists earn the highest average salary in West Virginia, making it a great place to consider for this career.
In Los Angeles, CA, the 75th percentile salary for a Mortgage Loan Documentation Specialist I is $57,620, while the average salary is $50,980.
Here are some related job salaries to consider: Commercial Loan Documentation Specialist ($52,443), Loan Documentation Specialist ($54,533), and Mortgage Loan Documentation Specialist II ($55,100).
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According to the article, some top companies hiring loan doc specialists now include Valley Children's Jobs, JPMorgan Chase & Co., and Bank of America.
The highest paying loan doc specialist jobs include Closing Coordinator ($39,066), Mortgage Processor ($40,527), and Mortgage Loan Processor ($43,594).
Here are some average salaries for loan doc specialists in different cities: Los Angeles, CA ($50,980), New York, NY ($125,220), and Irving, TX ($78,080).
Note: The salaries mentioned above are based on data from the article and may not reflect the current market rate.
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Salary by Location
The average loan doc specialist salary varies significantly depending on the location. In the United States, loan doc specialists earn the highest average salary in West Virginia.
West Virginia is followed closely by Maryland and New Jersey, which also rank high in terms of average loan doc specialist salary. On the other hand, the lowest average loan doc specialist salary states are Wyoming, Montana, and South Dakota.
Delaware takes the top spot among the highest-paying states for loan doc specialists, with an average salary of $50,003. This is closely followed by Maryland, which has an average salary of $60,988.
Here is a list of the top 5 highest-paying states for loan doc specialists, based on average salary:
- Delaware: $50,003
- Maryland: $60,988
- West Virginia: $61,017
- New Jersey: $55,285
- North Carolina: $51,053
In Los Angeles, California, the average salary for a Mortgage Loan Documentation Specialist I is $50,980 per year, with an hourly wage of $25.
Salary Trends and Statistics
The average loan doc specialist salary in the United States is $38,480, with salaries ranging between $25,000 and $58,000 yearly. This figure has risen by $6,093 over the last ten years, resulting in a 7% change in pay.
Over the last decade, the average loan doc specialist salary has increased significantly, from $32,387 in 2014 to $38,480 in 2024. This trend suggests a steady growth in the field.
Here are some key salary statistics for loan doc specialists:
Loan doc specialists can expect varying salaries depending on their location, with the highest average salary found in West Virginia.
Trends
The loan doc specialist salary has seen a significant increase over the last decade, rising by $6,093 to reach an average annual salary of $38,480.
This growth is a testament to the increasing demand for skilled professionals in the mortgage industry. Loan doc specialists play a crucial role in ensuring the accuracy and efficiency of loan documentation, making them a valuable asset to any financial institution.
According to recent data, the average loan doc specialist salary in the United States is $38,480, with salaries ranging from $25,000 to $58,000 per year.
Here are some key statistics on loan doc specialist salaries:
These figures demonstrate the wide range of salaries for loan doc specialists, depending on factors such as location, experience, and education.
It's worth noting that loan doc specialist salaries can vary significantly depending on the specific job title and location. For example, a Commercial Loan Documentation Specialist can earn up to $52,443 per year, while a Mortgage Loan Documentation Specialist II can earn up to $55,100 per year.
Overall, the loan doc specialist salary has seen a steady increase over the years, reflecting the growing importance of skilled professionals in the mortgage industry.
What Is the 'I' Trend?
The "I" trend in salary is a fascinating topic. In the case of Mortgage Loan Documentation Specialist I, the median salary increased from $41,205 in 2023 to approximately $41,245 in 2024.
Location plays a significant role in salary variations, and it's essential to consider this when evaluating job offers. Key factors like experience and industry demand also influence salary.
Economic growth is another critical factor that affects salary trends, and it's essential to stay informed about the current economic climate. The Mortgage Loan Documentation Specialist I salary trend is a great example of how these factors can impact compensation.
Frequently Asked Questions
What does a loan document specialist do?
A loan document specialist is responsible for preparing and organizing loan documents for closing, ensuring all necessary paperwork is accurate and easily accessible. They maintain checklists, upload documents, and verify their storage for a smooth loan process.
What is the highest salary document specialist?
The highest salary for a document specialist can reach up to $137,000 per year. This is due to the critical role of document control specialists in managing company forms and data according to regulations.
What is the salary of a documentation specialist per month?
A Documentation Specialist's monthly salary in Manila, Philippines is around ₱24,333, with an average of ₱21,000. Learn more about the role and its compensation in the Manila area.
Sources
- https://www.zippia.com/salaries/loan-doc-specialist/
- https://www.salary.com/research/salary/alternate/mortgage-loan-documentation-specialist-i-salary/los-angeles-ca
- https://www.salary.com/research/salary/alternate/mortgage-loan-documentation-specialist-i-salary
- https://www.velvetjobs.com/salaries/commercial-loan-specialist-salary
- https://learningpath.org/articles/Loan_Documentation_Representative_Career_Info.html
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