Mortgage Loan Funder Salary

Average Mortgage Loan Funders in the United States make around $43K annually. Geographic location is the biggest factor affecting pay for this group, followed by tenure. There are far more female Mortgage Loan Funders who answered the questionnaire than men, making up 81 percent. Medical benefits are awarded to most, and the greater part earn dental coverage. For the most part, Mortgage Loan Funders enjoy their work and report high levels of job satisfaction. This report is based on answers to PayScale's salary questionnaire.
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$31,463 - $60,404
(Median)
$31K
$43K
$60K
MEDIAN: $43,298
10%
50%
90%

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$13.72 - $25.11
(Median)
$14
$19
$25
MEDIAN: $19.00
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
$31,463 - $60,404  
   
Bonus
$0.00 - $7,550  
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).
)
$30,923 - $60,972  
Country: United States | Currency: USD | Updated: 2 Jul 2015 | Individuals Reporting: 159
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
$13.72 - $25.11  
   
Overtime
$18.22 - $38.84  
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 - $7,550  
   
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).
)
$30,923 - $60,972  
Country: United States | Currency: USD | Updated: 2 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.


The average inexperienced worker earns $39K, and someone who has worked for five to 10 years can expect a bigger median salary of $44K. The average pay reported by folks with 10 to 20 years of experience is around $49K. People who have worked for 20 years or more actually report earning less than people who are in the middle of their careers; the veterans take home a mere $43K by contrast.

Pay Difference by Location


For Mortgage Loan Funders, Los Angeles provides a pay rate that is 29 percent greater than the national average. Mortgage Loan Funders will also find cushy salaries in San Ramon (+14 percent) and Irvine (+12 percent). The lowest-paying market is Sacramento, which sits 9 percent below the national average.

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Experience Affects Mortgage Loan Funder Salaries

Experienced
up arrow 15%

Mid-Career
up arrow 3%

Late-Career
up arrow 1%

National Average
$42,000

Entry-Level
up arrow 7%

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