The average salary for a Loan Underwriter, Mortgage is $54,904 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.
)
$38,520 - $74,987
(Median)
39K
45K
55K
66K
75K
MEDIAN: $54,904
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.
)
$15.23 - $34.71
(Median)
15
18
24
30
35
MEDIAN: $23.00
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$27K$54K$81K
Salary
$38,520 - $74,987  
   
Bonus
$0.00 - $12,434  
Profit Sharing
$100.00 - $4,921  
Commission
$0.00 - $29,799  
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).
)
$37,967 - $78,384  
PayScale
Country: United States | Currency: USD | Updated: 17 Apr 2014 | Individuals Reporting: 1,562
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$18$36$54
Hourly Rate
$15.23 - $34.71  
   
Overtime
$23.33 - $53.50  
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 - $12,434  
   
Commission
$0.00 - $29,799  
Profit Sharing
$100.00 - $4,921  
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).
)
$37,967 - $78,384  
PayScale
Country: United States | Currency: USD | Updated: 17 Apr 2014 | Individuals Reporting: 1,562
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Popular Employer Salaries for Loan Underwriter, Mortgage
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.
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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.
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
Portland
up arrow 20%
up arrow 19%
New York
up arrow 14%
up arrow 13%
San Antonio
up arrow 7%
up arrow 5%
Cleveland
up arrow 5%
up arrow 2%
National Average
$56,000
Columbus
up arrow 5%
Milwaukee
up arrow 13%
Minneapolis
up arrow 13%
Cincinnati
up arrow 15%
Larger circles over a city indicate a job is popular in that location.
Related Job Salaries

Experience Affects Loan Underwriter, Mortgage Salaries

National Average
$56,000

Skills That Affect Loan Underwriter, Mortgage Salaries

Financial Analysis
up arrow 4%
National Average
$56,000
Job Satisfaction
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Extremely satisfied
Rated 5 out of 5 based on 232 votes.
Gender
Female
71%
female alumni
 
Male
29%
male alumni
Years of Experience
Less than 1 year
3%
1-4 years
26%
5-9 years
21%
10-19 years
30%
20 years or more
19%
Common Health Benefits
medical benefits Medical: 84% dental benefits Dental: 77%
vision benefits Vision: 61% employee benefits None: 13%
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