Loan Processor Clerk salary in Canada

Average Yearly Salary of Loan Processor Clerk in Canada is approximately 34,622 CAD (34,671 USD). Data is for 2025 and indicates a pre-tax value. The salary itself depends on multiple factors such as seniority, job performance, certifications, experience or any other bonuses. The value indicated is an average amount based on records we have in database. Real values may vary. The data is for orientational purposes.

What does Loan Processor Clerk do?

A loan processor clerk is responsible for supporting the loan processing team in a financial institution or mortgage company. Their main duties include reviewing loan applications, verifying applicant information, and ensuring all required documents are complete and accurate. They play a crucial role in the loan approval process by organizing and maintaining loan files, preparing loan documents, and submitting loan packages to underwriters for review. Loan processor clerks also communicate with borrowers, lenders, and other parties involved to obtain missing information or resolve any discrepancies. Attention to detail, strong organizational skills, and knowledge of loan processing procedures and regulations are essential for this role.

Skills: loan processor, loan clerk, loan processing, financial institution, mortgage company, loan approval process.
Job industry: Finance

How much does Loan Processor Clerk make?

Difference in salary year over year or average salary increase is approximately 3 %


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Salary comparison to National average

Is Loan Processor Clerk a well paid job?

No, our data shows that Loan Processor Clerk is quite an underpaid paid job. The salary varies based on experience. Meaning that even though Loan Processor Clerk might be a low paying job, with experience the salary might increase to satisfactory levels.

What is considered a high salary for Loan Processor Clerk?

High salary for Loan Processor Clerk would be somewhere between 38,084 CAD and 50,202 CAD. However this is an estimation based on Gaussian Distribution.

How much can you save working as Loan Processor Clerk in Canada?

Living in Canada the approximate monthly expenses are: 2,118 USD. This amount covers basic needs such as food, housing, clothing, healthcare and education costs for a single person. No luxury expenses such as traveling, leisure, hobbies are included in the estimation.

Estimated Yearly Salary: 34,622 CAD
Estimated Monthly Salary: 2,885 CAD
Estimated Weekly Salary: 666 CAD per week
Estimated Hourly Salary: 17 CAD per hour
By working as Loan Processor Clerk a person can save up to 771 USD per month or 9,250 USD yearly. Values are pre-tax.

NOTE: These values are estimates and are averaged for the whole country. Furthermore the value is likely exaggerated as no other expenses are taken into account in the projection. Unessential expenses are very subjective and are difficult to assess. Most likely the previously estimated number is significantly lower for majority of people. Expenses in different cities across the country may vary. Above values accuracy is low and is based on limited set of data obtained.

For more information regarding expenses in Canada, see costs of living in Canada.

Salary comparison to region and neighbouring coutries

Country's neighbours are: United States of America.
To make it easier for comparison a conversion from local currency to USD has been made (conversion rates may vary).

Estimated Yearly Salary for Loan Processor Clerk

Last revision of data: 2025-01-04

Salary increase per years of experience

Based on data available the salary increase per years of experience is as following

0 years (beginner) equals base salary

1 to 5 years of experience yields +12% salary increase

6 to 10 years of experience yields +25% salary increase

11 to 15 years of experience yields +16% salary increase

16 to 25 years of experience yields +9% salary increase

more than 25 years of experience yields +10% salary increase

NOTE: Details based on limited set of data. Percentages may vary. The salary increase over years of experience can vary widely based on factors such as job industry, job role, location, company size, and individual performance. To gain even larger increase in salary one is advised to switch jobs and / or employer.

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Data as of 2025

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