Loan Originator Salary

A Loan Originator earns an average salary of $42,986 per year. Pay for this job rises steadily for more experienced workers, but goes down significantly for the few employees with more than 20 years' experience. Most people move on to other jobs if they have more than 20 years' experience in this field.

$25,466 - $104,376
$25K
$43K
$100K
MEDIAN: $42,986
10%
50%
90%

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$11.72 - $20.04
$12
$15
$20
MEDIAN: $14.82
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$80K$160K$240K
Salary
$25,466 - $104,376  
   
Bonus
$-0.49 - $39,732  
Profit Sharing
$20,000  
Commission
$10,067 - $218,524  
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).
)
$29,290 - $117,446  
Country: United States | Currency: USD | Updated: 18 Jan 2017 | Individuals Reporting: 80
National Hourly Rate 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$50$100$150
Hourly Rate
$11.72 - $20.04  
   
Overtime
$22.50  
National Annualized 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$100K$200K$300K
Bonus
$-0.49 - $39,732  
   
Commission
$10,067 - $218,524  
Profit Sharing
$20,000  
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).
)
$29,290 - $117,446  
Country: United States | Currency: USD | Updated: 18 Jan 2017 | Individuals Reporting: 22

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Job Description for Loan Originator

Loan originators work primarily for financial institutions, such as mortgage lending companies, banks, and credit unions to process loan applications up to the actual fund disbursement. They may also decline applications and solicit, negotiate, and coordinate consumers’ loans (car loans, personal loans, residential loans) and/or commercial or business loans.

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Loan Originator Tasks

  • Obtain and compile financial information to evaluate loan applications and their risk.
  • Generate new clients and referrals through strong relationship building.
  • Track and maintain credit and loan data.
  • Work directly with clients to review agreements, explain programs, and negotiate loans and terms.

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Pay by Experience Level for Loan Originator

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

Related Job Salaries

Key Stats for Loan Originator

Gender

Female
51 %
Male
49 %

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 10 votes.
Less than 1 year
12%
1-4 years
51%
5-9 years
18%
10-19 years
13%
20 years or more
7%
Location:
Years in Fields/Career:
United States (change)

Experience Affects Loan Originator Salaries

Experienced
▲85%

Mid-Career
▲59%

Late-Career
▲16%

National Average
$44,000

Entry-Level
▼6%

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 10 votes.

Gender

Female
51 %
Male
49 %

Years of Experience

Less than 1 year
12%
1-4 years
51%
5-9 years
18%
10-19 years
13%
20 years or more
7%

Common Health Benefits

medical benefits
Medical: 79%
dental benefits
Dental: 61%
vision benefits
Vision: 55%
dental benefits
None: 20%
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