Loan Processor salary in Iceland

Average Yearly Salary of Loan Processor in Iceland is approximately 6,806,198 ISK (47,847 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 do?

A loan processor is responsible for reviewing and verifying loan applications and supporting documents, ensuring that all necessary information is complete and accurate. They work closely with borrowers, lenders, and underwriters to gather required documentation, such as income statements, credit reports, and property appraisals. Loan processors evaluate applicants' financial status and creditworthiness, ensuring that they meet the lender's criteria for loan approval. They also calculate debt-to-income ratios and review loan terms and conditions to ensure compliance with regulations.

Skills: loan processing, financial services, mortgage industry, loan documentation, credit analysis, customer service
Job industry: Finance

How much does Loan Processor 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 a well paid job?

No, our data shows that Loan Processor is typically not a well-paid job. The salary varies based on experience. Meaning that even though Loan Processor might be a low paying job, with experience the salary might increase to satisfactory levels.

What is considered a high salary for Loan Processor?

High salary for Loan Processor would be somewhere between 7,486,818 ISK and 9,868,987 ISK. However this is an estimation based on Gaussian Distribution.

How much can you save working as Loan Processor in Iceland?

Living in Iceland the approximate monthly expenses are: 2,729 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: 6,806,198 ISK
Estimated Monthly Salary: 567,183 ISK
Estimated Weekly Salary: 130,888 ISK per week
Estimated Hourly Salary: 3,272 ISK per hour
By working as Loan Processor a person can save up to 1,258 USD per month or 15,101 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 Iceland, see costs of living in Iceland.

Salary comparison to region and neighbouring coutries

Country's neighbours are: Norway, Faroe Islands, United Kingdom.
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

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.

Top 10 highest salaries in Iceland

Data as of 2025

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