Mortgage Loan Funder Salary

For Mortgage Loan Funders, yearly average wages total $43K annually. Geography is the biggest factor affecting pay for this group, followed by career duration. The vast majority (81 percent) of Mortgage Loan Funders who took the survey are female. Job satisfaction is high and work is enjoyable for most Mortgage Loan Funders. Most report receiving medical coverage from their employers and a strong majority collect dental insurance. The data in this summary comes from the PayScale salary survey.
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$31,570 - $60,459
(Median)
$32K
$43K
$60K
MEDIAN: $43,074
10%
50%
90%

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$13.61 - $25.09
(Median)
$14
$19
$25
MEDIAN: $18.00
10%
50%
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$21K$42K$63K
Salary
$31,570 - $60,459  
   
Bonus
$0.00 - $7,500  
Commission
$0.00 - $9,896  
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).
)
$30,717 - $60,828  
Country: United States | Currency: USD | Updated: 20 Jun 2015 | Individuals Reporting: 161
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$13$26$39
Hourly Rate
$13.61 - $25.09  
   
Overtime
$18.16 - $38.96  
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$26K$52K$78K
Bonus
$0.00 - $7,500  
   
Commission
$0.00 - $9,896  
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).
)
$30,717 - $60,828  
Country: United States | Currency: USD | Updated: 20 Jun 2015 | Individuals Reporting: 119
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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

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

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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.


Although individuals who have less than five years' experience earn $39K on average, people with five to 10 years benefit from a notably larger average of $44K. People with 10 to 20 years of experience make an average of about $49K in this role. Survey participants with more than two decades under their belts actually report earning less than people with less experience; the former take home only $43K on average.

Pay Difference by Location


Los Angeles offers some of the highest pay in the country for Mortgage Loan Funders, 27 percent above the national average. Mortgage Loan Funders will also find cushy salaries in San Ramon (+15 percent) and Irvine (+12 percent). Falling short of the national average by 8 percent, the area with the worst salaries is Sacramento.

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Experience Affects Mortgage Loan Funder Salaries

Experienced
up arrow 16%

Mid-Career
up arrow 3%

Late-Career
up arrow 2%

National Average
$42,000

Entry-Level
up arrow 8%

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 42 votes.

Gender

Female
81 %
Male
19 %

Years of Experience

Less than 1 year
2%
1-4 years
36%
5-9 years
23%
10-19 years
26%
20 years or more
12%

Common Health Benefits

medical benefits Medical: 81% dental benefits Dental: 70%
vision benefits Vision: 59% employee benefits None: 18%
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