Earnings for Mortgage Loan Specialists in the United States come in at around $17.41 per hour on average. Geography is the main element affecting pay for this group — tenure and the individual firm are driving factors as well. Most Mortgage Loan Specialists report high levels of job satisfaction. A fair number report receiving medical coverage from their employers and more than half collect dental insurance. Female Mortgage Loan Specialists make up most of the survey respondents at 71 percent. The data for this snapshot was collected from individuals who took PayScale's salary survey.

$31,146 - $64,656
$31K
$41K
$65K
MEDIAN: $40,608
10%
50%
90%

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$13.42 - $22.33
$13
$17
$22
MEDIAN: $17.41
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$22K$44K$66K
Salary
$31,146 - $64,656  
   
Bonus
$0.00 - $9,696  
Profit Sharing
$500  
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).
)
$30,418 - $53,276  
Country: United States | Currency: USD | Updated: 18 Jan 2017 | Individuals Reporting: 77
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$12$24$36
Hourly Rate
$13.42 - $22.33  
   
Overtime
$19.33 - $34.76  
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$24K$48K$72K
Bonus
$0.00 - $9,696  
   
Profit Sharing
$500  
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).
)
$30,418 - $53,276  
Country: United States | Currency: USD | Updated: 18 Jan 2017 | Individuals Reporting: 122

Find Out Exactly What You Should Be Paid

United States (change)

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Job Description for Mortgage Loan Specialist

Mortgage loan specialists help clients secure financing for homes and business-related buildings. Although some leads are presented to them directly, these specialists are generally required to find clients by working with realtors and businesses.

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Mortgage Loan Specialist Tasks

  • Ensure that loans are funded.
  • Oversee processing of closing documents for loans.

Common Career Paths for Mortgage Loan Specialist


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Mortgage Loan Specialists' salary tends to stay somewhat level for those who assume higher-end positions like Mortgage Loan Processor. Median pay for Mortgage Loan Processors is $36K.

Mortgage Loan Specialist Job Listings

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Popular Employer Salaries for Mortgage Loan Specialist


Bank of America Corp. (BOFA) offers the best pay with a median salary of $40K, though salaries there don't seem that varied, bottoming out near $34K and maxing out at just $49K.

Pay by Experience Level for Mortgage Loan Specialist

Median of all compensation (including tips, bonus, and overtime) by years of experience.


The average worker who claims fewer than five years of experience earns around $35K. In contrast, however, individuals who report five to 10 years in this occupation see a much larger median of $40K. Mortgage Loan Specialists claiming one to two decades of experience make an estimated median of $44K. Survey respondents who have worked for more than 20 years actually report somewhat lower incomes of $42K.

Related Job Salaries

Key Stats for Mortgage Loan Specialist

Gender

Female
71 %
Male
29 %

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 24 votes.
036
Less than 1 year
4%
1-4 years
36%
5-9 years
30%
10-19 years
24%
20 years or more
6%
Location:
Years in Fields/Career:
United States (change)

Experience Affects Mortgage Loan Specialist Salaries

Experienced
up arrow 12%

Late-Career
up arrow 9%

Mid-Career
up arrow 3%

National Average
$39,000


Skills That Affect Mortgage Loan Specialist Salaries


National Average
$39,000

Loan Documents
up arrow 3%

Loan Processing
up arrow 8%

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 24 votes.

Gender

Female
71 %
Male
29 %

Years of Experience

Less than 1 year
4%
1-4 years
36%
5-9 years
30%
10-19 years
24%
20 years or more
6%

Common Health Benefits

medical benefits
Medical: 80%
dental benefits
Dental: 70%
vision benefits
Vision: 61%
dental benefits
None: 19%
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