Mortgage Loan Funder Salary

Mortgage Loan Funders in the United States can expect wages of $21.01 per hour on average. Location is the biggest factor affecting pay for this group, followed by experience level. Most report receiving medical coverage from their employers and a strong majority collect dental insurance. Job satisfaction is reported as high by the vast majority of workers. Female Mortgage Loan Funders make up most of the survey respondents at 79 percent. This overview is based on answers to PayScale's salary questionnaire.
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$33,559 - $62,033
$34K
$47K
$62K
MEDIAN: $46,622
10%
50%
90%

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$15.33 - $27.04
$15
$21
$27
MEDIAN: $21.01
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$21K$42K$63K
Salary
$33,559 - $62,033  
   
Bonus
$503 - $14,293  
Profit Sharing
$225.00  
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).
)
$33,682 - $62,677  
Country: United States | Currency: USD | Updated: 18 Jan 2017 | Individuals Reporting: 97
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$14$28$42
Hourly Rate
$15.33 - $27.04  
   
Overtime
$21.90 - $40.66  
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$28K$56K$84K
Bonus
$503 - $14,293  
   
Profit Sharing
$225.00  
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).
)
$33,682 - $62,677  
Country: United States | Currency: USD | Updated: 18 Jan 2017 | Individuals Reporting: 105

Find Out Exactly What You Should Be Paid

United States (change)

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Job Description for Mortgage Loan Funder

Mortgage loan funders perform a variety of tasks at mortgage firms. They typically will be working in an office setting environment, where they answer client questions over the phone and prepare loan closing documents. Typically, they will also be required to call banks and credit companies and make sure all the funding is ready and in place for a mortgage loan. Mortgage loan funders typically work nine to five shifts but may be needed for extra hours or weekends, depending on the volume of closings for that week.

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Mortgage Loan Funder Tasks

  • Ensure that loans are funded.
  • Oversee processing of closing documents for loans.

Common Career Paths for Mortgage Loan Funder


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Mortgage Loan Funders' salaries tend to stay somewhat constant even when they advance into higher-level positions like Mortgage Loan Closer. On average, Mortgage Loan Closers get paid about the same as Mortgage Loan Funders do.

Mortgage Loan Specialist Job Listings

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Pay by Experience Level for Mortgage Loan Funder

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


Mortgage Loan Funders with a lot of experience do not necessarily enjoy more money. During their first five years in the workforce, individuals in this position earn $41K on average. Survey participants with five to 10 years under their belts see an only a slightly bigger average of $46K. Mortgage Loan Funders claiming one to two decades of experience make an estimated median of $52K. Ultimately, more time spent in the workforce does seem to translate to bigger paychecks; seasoned veterans with more than 20 years of experience report a median income of $58K.

Pay Difference by Location

National Average: $46,050

Larger city markers indicate a job is popular in that location.

With a pay rate for Mortgage Loan Funders that is 27 percent greater than the national average, Concord offers a comfortable salary for those in this profession. Mortgage Loan Funders can also look forward to large paychecks in cities like Irvine (+26 percent), Los Angeles (+19 percent), San Diego (+15 percent), and San Francisco (+13 percent). Place of residence plays a huge part in a Mortgage Loan Funder's salary, with Dallas Mortgage Loan Funders earning salaries that are 21 percent less than the national average.

Related Job Salaries

Key Stats for Mortgage Loan Funder

Gender

Female
79 %
Male
21 %

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 16 votes.
Less than 1 year
5%
1-4 years
34%
5-9 years
16%
10-19 years
28%
20 years or more
17%
Location:
Years in Fields/Career:
United States (change)

Experience Affects Mortgage Loan Funder Salaries

Late-Career
▲26%

Experienced
▲12%

National Average
$46,000

Mid-Career
▼1%

Entry-Level
▼11%

Skills That Affect Mortgage Loan Funder Salaries

National Average
$46,000


Loan Processing
▼10%

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 16 votes.

Gender

Female
79 %
Male
21 %

Years of Experience

Less than 1 year
5%
1-4 years
34%
5-9 years
16%
10-19 years
28%
20 years or more
17%

Common Health Benefits

medical benefits
Medical: 85%
dental benefits
Dental: 74%
vision benefits
Vision: 67%
dental benefits
None: 12%
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