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Loan Processor Jobs in Elgin, IL (NOW HIRING)

Wintrust

Loan Processing Specialist Entry

Rosemont, IL · Hybrid

$20.19 - $26.44/hr

The Loan Processing Specialist Entry supports transactions for Commercial, Commercial Real Estate, Wealth Management, Managed Assets Department, Retail, and Community Lending portfolios: * Processes ...

Wintrust

Loan Processing Specialist Entry

Rosemont, IL · On-site

$20.19 - $26.44/hr

The Loan Processing Specialist Entry supports transactions for Commercial, Commercial Real Estate, Wealth Management, Managed Assets Department, Retail, and Community Lending portfolios: * Processes ...

Wintrust

Loan Processing Specialist Entry

Rosemont, IL · On-site

$20.19 - $26.44/hr

The Loan Processing Specialist Entry supports transactions for Commercial, Commercial Real Estate, Wealth Management, Managed Assets Department, Retail, and Community Lending portfolios: * Processes ...

M/I Homes

Loan Specialist

Naperville, IL · On-site

$24.04 - $36.57/hr

Processes applicable documentation for FHA, VA and Conventional mortgage loan applications and prepares required packages for loan approval. Hourly Rate : $24.04 - $36.57 per hour. This position is ...

M/I Homes

Loan Specialist

Naperville, IL · On-site

$24.04 - $36.57/hr

Processes applicable documentation for FHA, VA and Conventional mortgage loan applications and prepares required packages for loan approval. Hourly Rate : $24.04 - $36.57 per hour. This position is ...

M/I Homes

Loan Specialist

Naperville, IL · On-site

$24.04 - $36.57/hr

Processes applicable documentation for FHA, VA and Conventional mortgage loan applications and prepares required packages for loan approval. Hourly Rate : $24.04 - $36.57 per hour. This position is ...

M/I Homes

Loan Specialist

Naperville, IL · On-site

$24.04 - $36.57/hr

Processes applicable documentation for FHA, VA and Conventional mortgage loan applications and prepares required packages for loan approval. Hourly Rate: $24.04 - $36.57 per hour. This position is ...

Dunmor

Loan Originator

Chicago, IL · On-site +1

Partner with internal teams such as Processing, Underwriting, and Valuations to ensure smooth and timely loan processing. * Act as a liaison between clients and operations to overcome challenges and ...

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All JobsLoan Processor JobsLoan Processor Jobs in Elgin, IL

Loan Processor information

See Elgin, IL salary details

$13

$21

$30

How much do loan processor jobs pay per hour?

As of Sep 7, 2026, the average hourly pay for loan processor in Elgin, IL is $21.06, according to ZipRecruiter salary data. Most workers in this role earn between $17.84 and $23.75 per hour, depending on experience, location, and employer.

What is a loan processor?

Loan processors are financial professionals who review, verify, and organize loan applications before they are approved by underwriters. They collect necessary documentation from applicants, ensure all information is accurate, and communicate with borrowers and lenders throughout the process. Their primary goal is to make sure the loan file is complete and complies with lending regulations, helping to facilitate a smooth and timely loan approval.

What does a loan processor do?

A loan processor reviews loan applications before sending them to the underwriter for approval. As a loan processor, your responsibilities and duties include organizing required documents and verifying the accuracy and completeness of the loan application. You work as the intermediary between the loan officer and the underwriter, so you will not usually have direct contact with the customer. A good loan processor has excellent data and organizational skills, which are needed to succeed in this career.

What are the key skills and qualifications needed to thrive as a loan processor?

To thrive as a Loan Processor, you need a solid understanding of loan origination, financial documentation review, and regulatory compliance, often supported by experience in banking or finance. Familiarity with loan processing software like Encompass, Calyx Point, and knowledge of relevant regulations such as RESPA and TILA are typically required. Attention to detail, strong organizational skills, and effective communication make someone stand out in this position. These skills and qualities are crucial to ensure accurate, timely loan approvals and maintain compliance, ultimately supporting customer satisfaction and organizational success.

What are some common challenges faced by loan processors, and how can they be managed effectively?

Loan Processors often encounter challenges such as tight deadlines, managing large volumes of documentation, and coordinating with multiple parties like underwriters, loan officers, and clients. Staying organized and maintaining clear communication are key to handling these pressures. Many successful Loan Processors use checklists and digital tools to track document status and follow up regularly with all stakeholders, which helps ensure loans are processed efficiently and accurately.

What is the difference between Loan Processor vs Loan Underwriter?

AspectLoan ProcessorLoan Underwriter
Primary RolePrepares and reviews loan documents, gathers borrower informationAssesses loan risk and approves or declines loan applications
Required CredentialsHigh school diploma, some certifications preferredTypically requires mortgage or financial certifications
Work EnvironmentOffice setting, working closely with loan officers and applicantsOffice environment, analyzing financial data and risk
Industry UsageCommon in mortgage and banking sectorsIntegral to mortgage lending and financial institutions

While both roles are essential in the loan process, a Loan Processor focuses on preparing and verifying documents, whereas a Loan Underwriter evaluates the risk and makes approval decisions. Understanding these differences helps in choosing the right career path or job focus within the lending industry.

Can I work remotely as a loan processor?

Loan processors can often work remotely, especially with the increased use of digital document management and communication tools. Many companies offer remote or hybrid schedules, but specific arrangements depend on employer policies and the need for secure handling of sensitive financial information.

How much do entry level loan processors make?

Entry-level loan processors typically earn between $35,000 and $45,000 annually, depending on location and employer. Starting salaries may increase with relevant skills, certifications, and experience in loan processing software and financial regulations.
More about Loan Processor jobs

What are the most commonly searched types of Loan Processor jobs in Elgin, IL?

The most popular types of Loan Processor jobs in Elgin, IL are:

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For Loan Processor jobs in Elgin, IL, the most frequently searched job titles are:

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The top searched job categories for Loan Processor jobs in Elgin, IL are:

What cities near Elgin, IL are hiring for Loan Processor jobs?

Cities near Elgin, IL with the most Loan Processor job openings:

Loan Processor jobs near you
Infographic showing various Loan Processor job openings in Elgin, IL as of August 2026, with employment types broken down into 94% Full Time, and 6% Part Time. Highlights an 100% In-person job distribution, with an average salary of $43,799 per year, or $21.1 per hour.

Loan Processing Specialist Entry

Wintrust

Rosemont, IL • Hybrid

$20.19 - $26.44/hr

Full-time

Medical, Dental, Vision, Life, Retirement

Posted 5 days ago

Wintrust rating

8.0

Company rating: 8.0 out of 10

Based on 20 frontline employees who took The Breakroom Quiz

72nd of 175 rated banks

Job description

Wintrust provides community and commercial banking, specialty finance and wealth management services through its 16 bank charters and nine non-bank businesses. Wintrust delivers the sophisticated solutions of a large bank while staying true to the relationship-focused, personalized service of our community banking roots. We serve clients in all 50 states with more than 200 branch banking locations in Illinois, southwestern Florida, northwestern Indiana, west Michigan and southern Wisconsin and commercial banking offices in Chicago, Denver, Milwaukee, Grand Rapids, Mich., and in key branch banking locations throughout Illinois. Our people are the heart of our business and we are proud to rank consistently as a top place to work. Wintrust is a $66 billion financial institution based in Rosemont, Illinois, and listed on the NASDAQ Global Select Market under the symbol "WTFC."

Why join us?

  • An award-winning culture! We are rated a Top Workplace by the Chicago Tribune (past 8 years) and Employee Recommended award by the Globe & Mail (past 6 years)

  • Competitive pay and discretionary or incentive bonus eligible

  • Comprehensive benefit package including medical, dental, vision, life, a 401k plan with a generous company match and tuition reimbursement to name a few

  • Family-friendly work hours

  • With 175+ community bank locations, we offer opportunities to grow and develop in your career

  • Promote from within culture

Why join this team?

  • We have a culture that encourages an entrepreneurial spirit

  • We offer multiple opportunities for development and upward mobility

What You'll Do:

The Loan Processing Specialist Entry supports transactions for Commercial, Commercial Real Estate, Wealth Management, Managed Assets Department, Retail, and Community Lending portfolios:

  • Processes loan payments, payoffs, advances, wires and maintenance.

  • Monitors and processes loan requests and inquiries submitted in the Loan Operations mailbox such as loan payments, advances, maintenance and research including reconciling items from the loan control account and the review of Teller Reports for backdating process.

  • Ensures that all transactions between the loan system and general ledger are balanced. Research and resolve general ledger differences.

  • Provides customer service to external and internal customers.

Qualifications:

  • 3+ years' experience in financial services

  • Office or teller experience; commercial or consumer loan operations and loan documentation experience a plus

  • High school diploma or equivalent required

  • General computer skills

Benefits:

Medical Insurance Dental Vision Life insurance Accidental death and dismemberment Short-term and long-term Disability Insurance Parental Leave Employee Assistance Program (EAP) Traditional and Roth 401(k) with company match Flexible Spending Account (FSA) Employee Stock Purchase Plan at 5% discount Critical Illness Insurance Accident Insurance Transportation and Commuting Benefits Banking Benefits Pet Insurance

Compensation:

The estimated hourly salary range for this role is $20.19-$26.44, along with eligibility to earn an annual bonus. Actual salaries may vary based on several factors, such as a candidate's qualifications, skills, and experience.

#LI-Hybrid

From our first day in business, Wintrust has been proud to serve a variety of unique communities and people from all walks of life. To build a company that reflects the communities we serve, we believe that fostering a unique and inclusive workplace where everyone feels valued and empowered to succeed will support our ongoing success. Wintrust Financial Corporation, including community banking and financial services subsidiaries, is an Equal Opportunity Employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, age, national origin, disability, veteran status, genetic information, and other legally protected categories.

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