Entry-Level Mortgage Loan Officer Salary

An Entry-Level Mortgage Loan Officer earns an average salary of $41,317 per year. A skill in Sales is associated with high pay for this job.

$28,865 - $76,404
$29K
$41K
$76K
MEDIAN: $41,317
10%
50%
90%

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$12.00 - $21.17
$12
$17
$21
MEDIAN: $16.79
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$50K$100K$150K
Salary
$28,865 - $76,404  
   
Bonus
$405.47 - $23,387  
Profit Sharing
$0.00 - $24,832  
Commission
$4,848 - $100,899  
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).
)
$29,269 - $83,817  
Country: United States | Currency: USD | Updated: 25 Mar 2017 | Individuals Reporting: 154
© PayScale, Inc. @ www.payscale.com
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$25$50$75
Hourly Rate
$12.00 - $21.17  
   
Overtime
$19.07 - $44.85  
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$50K$100K$150K
Bonus
$405.47 - $23,387  
   
Commission
$4,848 - $100,899  
Profit Sharing
$0.00 - $24,832  
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).
)
$29,269 - $83,817  
Country: United States | Currency: USD | Updated: 25 Mar 2017 | Individuals Reporting: 68
© PayScale, Inc. @ www.payscale.com

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Mortgage Loan Officer Advice

Q: What do you wish you knew about your job when you first started out?

Mortgage Loan Officer in Cleveland:
`"$Stressful and rewarding."`
Very complex thinking, extremely rewarding at completion. Hang in there. You learn the nuances over time.

Key Stats for Mortgage Loan Officer

Gender

Female
44 %
Male
56 %

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 32 votes.
Less than 1 year
15%
1-4 years
70%
5-9 years
14%
Location:
Years in Fields/Career:
United States (change)

Skills That Affect Mortgage Loan Officer Salaries

Sales
▲13%

Residential Loans
▲2%

Financial Analysis
▲1%

National Average
$43,000

Mortgage Loans
▼2%

Loan Processing
▼3%

Loan Underwriting
▼5%

Consumer Loans
▼6%

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 32 votes.

Gender

Female
44 %
Male
56 %

Common Health Benefits

medical benefits
Medical: 81%
dental benefits
Dental: 71%
vision benefits
Vision: 57%
dental benefits
None: 15%
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