Mortgage Loan Funder Salary

Mortgage Loan Funders in the United States take home an average $43K annually. Residence is the biggest factor affecting pay for this group, followed by career length. For the most part, Mortgage Loan Funders enjoy their work and report high levels of job satisfaction. Medical benefits are awarded to most, and the larger part earn dental coverage. The vast majority of Mortgage Loan Funders (81 percent) who participated in the survey are women. The information for this rundown comes from respondents who completed PayScale's salary questionnaire.
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$31,906 - $60,318

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$13.72 - $25.28

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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
$31,906 - $60,318  
   
Bonus
$0.00 - $7,147  
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).
)
$31,041 - $60,814  
Country: United States | Currency: USD | Updated: 18 Jul 2015 | Individuals Reporting: 158
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
$13.72 - $25.28  
   
Overtime
$18.22 - $39.40  
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 - $7,147  
   
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).
)
$31,041 - $60,814  
Country: United States | Currency: USD | Updated: 18 Jul 2015 | Individuals Reporting: 118
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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.


Average salaries for inexperienced employees average out to around $39K, but folks who have five to 10 years of experience earn a higher median of $44K. Mortgage Loan Funders bring in $49K after working for 10 to 20 years. Respondents who boast more than 20 years of experience can't seem to boast paychecks reflecting that extensive experience, though; veteran Mortgage Loan Funders report making only $44K on average.

Pay Difference by Location


Surpassing the national average by 29 percent, Mortgage Loan Funders in Los Angeles receive some of the highest pay in the country. Mortgage Loan Funders will also find cushy salaries in San Ramon (+14 percent) and Irvine (+12 percent). In Sacramento, salaries are 9 percent below the national average and represent the lowest-paying market.

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Experience Affects Mortgage Loan Funder Salaries

Experienced
up arrow 15%

Late-Career
up arrow 4%

Mid-Career
up arrow 3%

National Average
$43,000

Entry-Level
up arrow 7%

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 41 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
13%

Common Health Benefits

medical benefits Medical: 80% dental benefits Dental: 70%
vision benefits Vision: 59% employee benefits None: 18%
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