Assistant Vice President (AVP), Mortgage Lending Salary

A substantial slice of final earnings for Assistant VPs of Mortgage Lending (nearly two-fifths) arrives through commissions. Median overall income in this area is approximately $73K. Assistant VPs of Mortgage Lending will also find cushy salaries in Chicago (+14 percent).

$44,173 - $101,958

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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
$44,173 - $101,958  
   
Bonus
$1,025 - $15,271  
Profit Sharing
$59.60 - $5,537  
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).
)
$44,556 - $111,884  
Country: United States | Currency: USD | Updated: 18 Jul 2015 | Individuals Reporting: 240
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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.

Assistant Vice President (AVP), Mortgage Lending Job Listings

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


Employees at Bank of America Corp. (BOFA) take home the smallest paychecks, and $71K is the median salary. Furthermore, range in pay is narrow, with salaries starting at $53K and quickly nearing the top at only $88K.


Assistant VPs of Mortgage Lending note just a narrow range of job skills. Most notably, skills in Operations Management, Regulatory Compliance, Loan Underwriting, and Mortgage Loans are correlated to pay that is above average. Skills that are correlated to lower pay, on the other hand, include Mortgage Loans and Loan Underwriting.

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

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


Experience and pay tend to be weakly linked for Assistant VPs of Mortgage Lending — those with more experience do not necessarily bring in higher earnings. Salaries for the relatively untried average out to around $67K, but survey participants with five to 10 years of experience earn a significantly higher median of $73K. People with 10 to 20 years of experience make an average of about $75K in this role. Survey participants who have spent more than 20 years on the job report a predictably higher median income of $80K, demonstrating that compensation is roughly commensurate with experience in the end.

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 10%

Experienced
up arrow 3%

Mid-Career
0%

National Average
$73,000

Entry-Level
up arrow 8%

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

Operations Management
up arrow 10%

National Average
$73,000

Regulatory Compliance
up arrow 3%

Loan Underwriting
up arrow 8%


Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 51 votes.

Gender

Female
63 %
Male
37 %

Years of Experience

Less than 1 year
0%
1-4 years
15%
5-9 years
25%
10-19 years
39%
20 years or more
20%

Common Health Benefits

medical benefits Medical: 89% dental benefits Dental: 83%
vision benefits Vision: 66% employee benefits None: 8%
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