Mortgage Loan Funder Salary

Pay for Mortgage Loan Funders in the United States sits in the ballpark of $44K annually. Residence is the biggest factor affecting pay for this group, followed by tenure. For the most part, Mortgage Loan Funders enjoy their work and report high levels of job satisfaction. Medical benefits are awarded to most, and a strong majority earn dental coverage. Among survey respondents, women are more common than men; 81 percent of Mortgage Loan Funders are female. The figures in this overview were provided by individuals who took PayScale's salary questionnaire.
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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.

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.


Relatively untried employees who have fewer than five years of experience earn around $39K on average. People who have worked for five to 10 years can expect a higher median salary of $43K. The average pay reported by folks with 10 to 20 years of experience is around $49K. Mortgage Loan Funders with more than 20 years of experience report incomes that are no higher than those with 10 to 20 years on the job.

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 can also look forward to large paychecks in cities like Los Angeles (+21 percent), San Francisco (+20 percent), San Ramon (+12 percent), and Irvine (+11 percent). Dallas ranks last in the field for pay, reporting salaries 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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