Assistant Vice President (AVP), Mortgage Lending Salary

A big portion of take-home pay for Assistant VPs of Mortgage Lending — slightly less than half, in fact — arrives through commissions. This profession's median overall income is approximately $75K. Assistant VPs of Mortgage Lending will also find cushy salaries in Chicago (+9 percent). The data in this summary comes from the PayScale salary survey.

$44,145 - $107,340
(Median)
$44K
$70K
$110K
MEDIAN: $69,618
10%
50%
90%

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National Salary Data (?
XAll compensation data shown are gross 10th to 90th percentile ranges. Take the PayScale Survey to find out how location influences pay for this job.
)
$0$50K$100K$150K
Salary
$44,145 - $107,340  
   
Bonus
$1,100 - $19,757  
Profit Sharing
$0.00 - $10,000  
Commission
$35,000  
Total Pay (?
XTotal Pay combines base annual salary or hourly wage, bonuses, profit sharing, tips, commissions, overtime pay and other forms of cash earnings, as applicable for this job. It does not include equity (stock) compensation, cash value of retirement benefits, or the value of other non-cash benefits (e.g. healthcare).
)
$45,741 - $122,289  
Country: United States | Currency: USD | Updated: 12 Jan 2016 | Individuals Reporting: 229
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Job Description for Assistant Vice President (AVP), Mortgage Lending

Assistant vice presidents (AVPs) of mortgage lending work with their vice president and assist with the daily operations of a company's mortgage loan department. They are often responsible for monitoring the loan applications of mortgage brokers to ensure profitable loans are provided and that customers are able to pay them back, and also monitor the lender's profit margin to ensure profitability.

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Assistant Vice President (AVP), Mortgage Lending Tasks

  • Select and negotiate with vendors and contractors, evaluating costs and benefits.
  • Train staff in and ensure compliance with federal, state, and organizational regulations.
  • Oversee and motivate loan staff, including setting goals and schedules.

Common Career Paths for Assistant Vice President (AVP), Mortgage Lending


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Assistant VPs of Mortgage Lending' salaries may rise greatly for those who assume a higher-end position such as a VP of Operations. The average VP of Operations brings home $123K per year.

Assistant Vice President (AVP), Mortgage Lending Job Listings

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Popular Employer Salaries for Assistant Vice President (AVP), Mortgage Lending


Though certain workers may see earnings of up to $89K, Bank of America Corp. (BOFA) still falls short in the compensation department — the median pay is only $73K, the lowest in the field.


Job skills reported by Assistant VPs of Mortgage Lending are limited. Most notably, skills in Operations Management, Regulatory Compliance, Mortgage Loans, and Loan Underwriting are correlated to pay that is above average. Skills that are correlated to lower pay, on the other hand, include Loan Underwriting, Mortgage Loans, and Regulatory Compliance.

Pay by Experience Level for Assistant Vice President (AVP), Mortgage Lending

Median of all compensation (including tips, bonus, and overtime) by years of experience.


Assistant VPs of Mortgage Lending with more experience do not necessarily bring home bigger paychecks. In fact, experience in this field tends to impact compensation minimally. The median compensation for relatively untried workers is $68K; in the five-to-10 year group, it's higher at around $73K. Assistant VPs of Mortgage Lending see a median salary of $76K after reaching one to two decades on the job. As Assistant VPs of Mortgage Lending reach more than two decades on the job, compensation remains commensurate with experience; the average pay in this group is $86K.

Assistant Vice President (AVP), Mortgage Lending Advice

What do you wish you knew about your job when you first started out?

Assistant Vice President (AVP), Mortgage Lending in Houston:
"Rewarding But Tough."
You will need to stay open to new technology and be very flexible to rule changes. Much of your work will be governed by political changes in Washington, outside of your control.

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Experience Affects Assistant Vice President (AVP), Mortgage Lending Salaries

Late-Career
up arrow 14%

Experienced
up arrow 1%

National Average
$75,000

Mid-Career
up arrow 3%

Entry-Level
up arrow 9%

Skills That Affect Assistant Vice President (AVP), Mortgage Lending Salaries

Operations Management
up arrow 11%

National Average
$75,000

Regulatory Compliance
up arrow 9%


Loan Underwriting
up arrow 12%

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 43 votes.

Gender

Female
59 %
Male
41 %

Years of Experience

Less than 1 year
0%
1-4 years
16%
5-9 years
24%
10-19 years
38%
20 years or more
22%

Common Health Benefits

medical benefits
Medical: 90%
dental benefits
Dental: 84%
medical benefits
Vision: 68%
dental benefits
None: 7%
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