Mortgage Loan Funder Salary

Median pay for Mortgage Loan Funders in the United States is around $44K per year. Location and tenure each impact pay for this group, with the former having the largest influence. A large number enjoy medical while a fair number get dental coverage. Vision coverage is also available to a majority. Most workers in this position report high levels of job satisfaction. The vast majority of Mortgage Loan Funders (81 percent) who responded to the survey are women. This snapshot results from replies to PayScale's salary survey.
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$31,790 - $60,524
(Median)
$32K
$44K
$61K
MEDIAN: $44,191
10%
50%
90%

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$13.86 - $26.07
(Median)
$14
$20
$26
MEDIAN: $19.00
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
$31,790 - $60,524  
   
Bonus
$0.00 - $7,787  
Profit Sharing
$475.00  
Commission
$2,400  
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).
)
$31,532 - $60,878  
Country: United States | Currency: USD | Updated: 12 Jan 2016 | Individuals Reporting: 175
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
$13.86 - $26.07  
   
Overtime
$18.22 - $40.11  
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
$0.00 - $7,787  
   
Commission
$2,400  
Profit Sharing
$475.00  
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).
)
$31,532 - $60,878  
Country: United States | Currency: USD | Updated: 12 Jan 2016 | Individuals Reporting: 130
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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.


People who have worked for fewer than five years bring home $39K on average. Median compensation in the five-to-10 year group, however, is higher at approximately $43K. Mortgage Loan Funders bring in $49K after working for 10 to 20 years. Individuals who have achieved more than 20 years of experience don't seem to earn any more than people who have 10 to 20 years under their belts.

Pay Difference by Location

National Average: $43,505

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

Surpassing the national average by 36 percent, Mortgage Loan Funders in Concord receive some of the highest pay in the country. Mortgage Loan Funders will also find cushy salaries in Los Angeles (+21 percent), San Francisco (+20 percent), San Ramon (+12 percent), and Irvine (+11 percent). Those in the field find the lowest salaries in Dallas, 15 percent below the national average.

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Experience Affects Mortgage Loan Funder Salaries

Experienced
up arrow 13%

Late-Career
up arrow 13%

Mid-Career
0%

National Average
$44,000

Entry-Level
up arrow 9%

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 39 votes.

Gender

Female
81 %
Male
19 %

Years of Experience

Less than 1 year
3%
1-4 years
35%
5-9 years
22%
10-19 years
27%
20 years or more
14%

Common Health Benefits

medical benefits
Medical: 81%
dental benefits
Dental: 70%
medical benefits
Vision: 59%
dental benefits
None: 16%
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