Residential Loan Processor salary in Iceland

Average Yearly Salary of Residential Loan Processor in Iceland is approximately 6,367,498 ISK (44,714 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 Residential Loan Processor do?

A residential loan processor is responsible for facilitating the loan application process for individuals seeking to purchase or refinance a residential property. They work closely with loan officers, borrowers, and underwriters to ensure that all necessary documentation is collected and processed accurately and efficiently. Their primary duties include reviewing loan applications, verifying borrower information, ordering appraisals and title reports, preparing loan files, and coordinating with various parties involved in the loan process. Additionally, they may assist in resolving any issues or discrepancies that arise during the loan approval process.

Skills: residential loan processor, mortgage processing, loan application, loan documentation, loan coordination, loan approval
Job industry: Finance

How much does Residential 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 Residential Loan Processor a well paid job?

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

What is considered a high salary for Residential Loan Processor?

High salary for Residential Loan Processor would be somewhere between 7,004,248 ISK and 9,232,872 ISK. However this is an estimation based on Gaussian Distribution.

How much can you save working as Residential 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: 6,367,498 ISK
Estimated Monthly Salary: 530,625 ISK
Estimated Weekly Salary: 122,452 ISK per week
Estimated Hourly Salary: 3,061 ISK per hour
By working as Residential Loan Processor a person can save up to 997 USD per month or 11,968 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 Residential 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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