In a profession for which the median take-home is approximately $47K, a little under three-quarters of overall earnings for Mortgage Originators arrives through commissions. A large number enjoy medical while a fair number get dental coverage. Vision coverage is also available to more than half. Women make up a slight majority of Mortgage Originators (59 percent) survey respondents. Most Mortgage Originators like their work and job satisfaction is high. This snapshot results from replies to PayScale's salary survey.
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$24,411 - $69,320
$24K
$44K
$69K
MEDIAN: $44,115
10%
50%
90%

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$11.14 - $22.21
$11
$16
$22
MEDIAN: $16.00
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$28K$56K$84K
Salary
$24,411 - $69,320  
   
Bonus
$342.55 - $24,292  
Profit Sharing
$2,472  
Commission
$4,530 - $73,404  
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).
)
$30,319 - $83,483  
Country: United States | Currency: USD | Updated: 28 Oct 2016 | Individuals Reporting: 144
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$14$28$42
Hourly Rate
$11.14 - $22.21  
   
Overtime
$13.59 - $37.25  
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$28K$56K$84K
Bonus
$342.55 - $24,292  
   
Commission
$4,530 - $73,404  
Profit Sharing
$2,472  
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).
)
$30,319 - $83,483  
Country: United States | Currency: USD | Updated: 28 Oct 2016 | Individuals Reporting: 39

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

  • Identify financial needs, make proposals, and close business of borrowers.
  • Assign approved applications to a processor for the closing process.
  • Assist potential borrowers in loan application process and complete documentation for loan products.
  • 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.

Common Career Paths for Mortgage Originator


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It doesn't happen often, but some Mortgage Originators do move on to become Mortgage Loan Underwriters. The average pay for that role is slightly higher at $55K per year. The most common next step for a Mortgage Originator is to become a Mortgage Loan Officer or a Banking Branch Manager. The former position pays an additional $2K per year on average, and the latter position pays $5K more per year.

Mortgage Originator Job Listings

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Pay by Experience Level for Mortgage Originator

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


Salaries for inexperienced workers average out to $50K, and those with five to 10 years' experience earn a higher median of $43K. On average, Mortgage Originators make $59K following one to two decades on the job. Mortgage Originators who have racked up more than two decades of experience report lower incomes overall; the average sum for this crowd comes out to only $53K.

Related Job Salaries

Key Stats for Mortgage Originator

Gender

Female
59 %
Male
41 %

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 16 votes.
Less than 1 year
8%
1-4 years
41%
5-9 years
16%
10-19 years
22%
20 years or more
13%
Location:
Years in Fields/Career:
United States (change)

Experience Affects Mortgage Originator Salaries

Experienced
up arrow 26%

Late-Career
up arrow 14%

Mid-Career
up arrow 6%

National Average
$47,000


Skills That Affect Mortgage Originator Salaries

Mortgage Loans
up arrow 1%

National Average
$47,000

Sales
up arrow 4%

Customer Service
up arrow 15%

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 16 votes.

Gender

Female
59 %
Male
41 %

Years of Experience

Less than 1 year
8%
1-4 years
41%
5-9 years
16%
10-19 years
22%
20 years or more
13%

Common Health Benefits

medical benefits
Medical: 80%
dental benefits
Dental: 73%
vision benefits
Vision: 57%
dental benefits
None: 16%
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