Loan Underwriter, Mortgage Salary (United States)

The average salary for a Loan Underwriter, Mortgage is $56,464 per year.
Loan Underwriter, Mortgage Total Pay (?
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.
)
$39,111 - $76,419
(Median)
39K
46K
56K
68K
76K
MEDIAN: $56,464
10%
25%
50%
75%
90%
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Loan Underwriter, Mortgage Total Pay (?
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.
)
$15.51 - $35.12
(Median)
16
24
30
35
MEDIAN: $24.00
10%
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$27K$54K$81K
Salary
$39,111 - $76,419  
   
Bonus
$0.00 - $12,161  
Profit Sharing
$325.00 - $4,796  
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).
)
$38,804 - $80,337  
PayScale
Country: United States | Currency: USD | Updated: 5 Aug 2014 | Individuals Reporting: 1,509
National Hourly Rate 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$19$38$57
Hourly Rate
$15.51 - $35.12  
   
Overtime
$23.59 - $55.21  
National Annualized 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
Bonus
$0.00 - $12,161  
   
Profit Sharing
$325.00 - $4,796  
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).
)
$38,804 - $80,337  
PayScale
Country: United States | Currency: USD | Updated: 5 Aug 2014 | Individuals Reporting: 1,509
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Job Description for Loan Underwriter, Mortgage

Mortgage loan underwriters are responsible for approving or rejecting mortgages. To make this decision, the mortgage underwriter must generate a risk report and demonstrate how the contents of the report are within the lender's guidelines for approval, or how the contents of the report fail to meet the guidelines. The first thing that mortgage underwriters do is obtain and review credit reports for prospective debtors. Next, they obtain information from prospective debtors about their income, and possibly their assets and other debts. Afterward, mortgage underwriters will determine what collateral is available that can be used to back the mortgage.
Read More...
Loan Underwriter, Mortgage Tasks
  • Prepare reports based on the results from the risk analysis for use in decision-making.
  • Analyze credit data and financial statements of individuals or firms to determine the risk involved in extending credit or lending money.

Common Career Paths for Loan Underwriter, Mortgage

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Loan Underwriter, Mortgage Job Listings

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Popular Employer Salaries for Loan Underwriter, Mortgage

Popular Skills for Loan Underwriter, Mortgage

Pay by Experience Level for Loan Underwriter, Mortgage

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

Pay Difference By Location

up arrow 19%
Denver
up arrow 17%
up arrow 15%
Cleveland
up arrow 12%
New York
up arrow 12%
Houston
up arrow 11%
St. Louis
up arrow 11%
San Diego
up arrow 8%
up arrow 4%
Tampa
0%
National Average
$58,000
Phoenix
up arrow 1%
Minneapolis
up arrow 17%
Larger circles over a city indicate a job is popular in that location.

Related Job Salaries

Experience Affects Loan Underwriter, Mortgage Salaries

National Average
$58,000

Skills That Affect Loan Underwriter, Mortgage Salaries

National Average
$58,000

Job Satisfaction

Extremely satisfied Image
Extremely satisfied
Rated 5 out of 5 based on 241 votes.

Gender

Female
73%
female alumni
 
Male
27%
male alumni

Years of Experience

Less than 1 year
3%
1-4 years
26%
5-9 years
20%
10-19 years
30%
20 years or more
21%

Common Health Benefits

medical benefits Medical: 84% dental benefits Dental: 77%
vision benefits Vision: 62% employee benefits None: 13%
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