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Mortgage Originator Salary

Commissions constitute a big slice (more than two-fifths on average) of overall compensation for Mortgage Originators, and the median take-home for this group lies near $46K. A fair number enjoy medical while a majority get dental coverage. Vision coverage is also available to a little more than half. Most Mortgage Originators like their work and job satisfaction is high. Women make up a slight majority of Mortgage Originators (56 percent) survey respondents. The data for this snapshot was collected from individuals who took PayScale's salary survey.
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$25,023 - $70,785
(Median)
$25K
$41K
$71K
MEDIAN: $40,780
10%
50%
90%

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$9.67 - $24.61
(Median)
$9
$15
$25
MEDIAN: $15.00
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$33K$66K$99K
Salary
$25,023 - $70,785  
   
Bonus
$0.00 - $20,044  
Profit Sharing
$-0.49 - $5,042  
Commission
$2,466 - $98,986  
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).
)
$29,060 - $90,889  
Country: United States | Currency: USD | Updated: 16 May 2015 | Individuals Reporting: 193
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$17$34$51
Hourly Rate
$9.67 - $24.61  
   
Overtime
$14.68 - $31.21  
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$50K$100K$150K
Bonus
$0.00 - $20,044  
   
Commission
$2,466 - $98,986  
Profit Sharing
$-0.49 - $5,042  
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).
)
$29,060 - $90,889  
Country: United States | Currency: USD | Updated: 16 May 2015 | Individuals Reporting: 43

Find Out Exactly What You Should Be Paid

United States (change)


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Job Description for Mortgage Originator

Being a mortgage originator means that you will spend the majority of your time looking for new clients who want to buy a home or commercial real estate. You may work for a bank, credit union, or mortgage company. There is a lot of flexibility in this line of work. Depending on what a person does best, they may stay in the office and look for clients by phone or online, or they may go out and market with other people in the business. As time goes on, most will find their niche and learn what works best for them.

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Mortgage Originator Tasks

  • Develop referral base of other banks, agents, attorneys, CPAS, appraisers, realtors, and builders.
  • Ensure a continual volume of loan clients, applications, and closings for purchase or refinance.
  • Assist potential borrowers in loan application process and complete documentation for loan products.
  • Identify financial needs, make proposals, and close business of borrowers.
  • Assign approved applications to a processor for the closing process.

Common Career Paths for Mortgage Originator


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For Mortgage Originators, advancing into a Mortgage Loan Underwriter role, for which the median salary is $54K, is not common but it does happen. It is quite typical for Mortgage Originators to transition into roles as Banking Branch Managers or Mortgage Loan Officers, where reported median earnings are $5K and $2K higher per year.

Mortgage Originator Job Listings

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Mortgage Originators typically list a handful of skills they use on the job. Mortgage Loans and Sales are considered valuable skills and can increase employee pay. Skills that are correlated to lower pay, on the other hand, include Sales and Mortgage Loans. Competency in Mortgage Loans frequently indicates knowledge of Sales.

Pay by Experience Level for Mortgage Originator

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


Mortgage Originators with a lot of experience tend to enjoy higher earnings. Respondents with less than five years' experience take home $40K on average. In contrast, those who have been around for five to 10 years earn a noticeably higher average of $51K. Mortgage Originators claiming one to two decades of experience make an estimated median of $55K. Average wages for folks with more than 20 years of experience come out to around $62K.

Related Job Salaries

United States (change)

Experience Affects Mortgage Originator Salaries

Late-Career
up arrow 35%

Experienced
up arrow 20%

Mid-Career
up arrow 10%

National Average
$46,000

Entry-Level
up arrow 12%

Skills That Affect Mortgage Originator Salaries

National Average
$46,000


Sales
up arrow 20%

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 40 votes.

Gender

Female
56 %
Male
44 %

Years of Experience

Less than 1 year
4%
1-4 years
43%
5-9 years
23%
10-19 years
19%
20 years or more
11%

Common Health Benefits

medical benefits Medical: 79% dental benefits Dental: 65%
vision benefits Vision: 52% employee benefits None: 19%
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