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Assistant Vice President (AVP), Mortgage Lending Salary

On average, commissions constitute a fair portion (just over two-fifths) of final income for Assistant VPs of Mortgage Lending. That final number averages out to $70K across the industry. Assistant VPs of Mortgage Lending will also find cushy salaries in Chicago (+18 percent). The figures in this rundown are based on the results of PayScale's salary questionnaire.
$43,060 - $103,910
(Median)
43K
52K
66K
84K
100K
MEDIAN: $65,605
10%
25%
50%
75%
90%

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National Salary Data

 (?
XAll compensation data shown are gross, national 10th to 90th percentile ranges. Pay can vary greatly by location. To view local data, take the PayScale survey.
)
$0$50K$100K$150K
Salary
$43,060 - $103,910  
   
Bonus
$1,014 - $16,851  
Profit Sharing
$780 - $10,644  
Commission
$12,208 - $40,337  
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).
)
$45,055 - $115,853  
Country: United States | Currency: USD | Updated: 11 Dec 2014 | Individuals Reporting: 245
United States (change)

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


The lowest salaries can be found at Bank of America Corp. (BOFA) — median pay is $71K — and there is little variation in compensation, with paychecks starting at $55K and only reaching $92K.


Professional skills reported by Assistant VPs of Mortgage Lending are few in number. Those who have experience with Operations Management, Loan Underwriting, and Mortgage Loans can expect to be compensated well for these skills. Skills that seem to negatively impact pay 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 does not seem to be a strong driver of pay increase in this role. Relatively untried employees who have less than five years' experience have a median salary of $67K. Those who have been around for five to 10 years can expect to take home more — $68K on average. Assistant VPs of Mortgage Lending with one to two decades of relevant experience report an average salary of approximately $74K. Assistant VPs of Mortgage Lending with more than 20 years of experience report incomes that are only modestly higher; the median for these old hands hovers around $75K.

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.

Related Job Salaries

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

Late-Career
up arrow 7%

Experienced
up arrow 6%

National Average
$70,000

Mid-Career
up arrow 2%

Entry-Level
up arrow 3%

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

Operations Management
up arrow 13%

National Average
$70,000

Loan Underwriting
up arrow 5%


Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 65 votes.

Gender

Female
57 %
Male
43 %

Years of Experience

Less than 1 year
0%
1-4 years
15%
5-9 years
30%
10-19 years
38%
20 years or more
16%

Common Health Benefits

medical benefits Medical: 91% dental benefits Dental: 82%
vision benefits Vision: 61% employee benefits None: 7%