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Mortgage Loan Funder Salary

The average Mortgage Loan Funder in the United States earns approximately $43K annually. Residence is the biggest factor affecting pay for this group, followed by years of experience. Women make up the vast majority of Mortgage Loan Funders (80 percent) who answered the questionnaire. Work is enjoyable for Mortgage Loan Funders, who typically claim high levels of job satisfaction. A strong majority enjoy medical while a fair number get dental coverage. Vision coverage is also available to a majority. Respondents to the PayScale salary survey provided the data for this report.
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$31,621 - $60,031
(Median)
$32K
$43K
$60K
MEDIAN: $42,849
10%
50%
90%

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$13.42 - $24.86
(Median)
$13
$18
$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
$31,621 - $60,031  
   
Bonus
$0.00 - $7,195  
Commission
$0.00 - $9,586  
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).
)
$30,590 - $60,365  
Country: United States | Currency: USD | Updated: 31 Mar 2015 | Individuals Reporting: 152
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
$13.42 - $24.86  
   
Overtime
$18.09 - $38.10  
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 - $7,195  
   
Commission
$0.00 - $9,586  
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).
)
$30,590 - $60,365  
Country: United States | Currency: USD | Updated: 31 Mar 2015 | Individuals Reporting: 116

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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 less than five years' experience make $38K, but folks with five to 10 years under their belts enjoy an appreciably larger median of $44K. For Mortgage Loan Funders, 10 to 20 years of experience on the job amounts to an average salary of $49K. Folks with more than two decades of experience actually report lower incomes overall; their average comes out to a mere $43K.

Pay Difference by Location


Home to some of the best pay for Mortgage Loan Funders, Los Angeles offers exceptional salaries, 28 percent above the national average. Mortgage Loan Funders will also find cushy salaries in San Ramon (+17 percent) and Irvine (+14 percent). The smallest paychecks in the market, 8 percent south of the national average, can be found in Sacramento.

Related Job Salaries

United States (change)

Experience Affects Mortgage Loan Funder Salaries

Experienced
up arrow 16%

Mid-Career
up arrow 4%

Late-Career
up arrow 3%

National Average
$42,000

Entry-Level
up arrow 9%

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 41 votes.

Gender

Female
80 %
Male
20 %

Years of Experience

Less than 1 year
2%
1-4 years
38%
5-9 years
21%
10-19 years
27%
20 years or more
12%

Common Health Benefits

medical benefits Medical: 80% dental benefits Dental: 72%
vision benefits Vision: 59% employee benefits None: 18%