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Mortgage Originator Salary

A substantial slice of final earnings for Mortgage Originators (more than two-fifths) arrives through commissions. Median overall income in this area is approximately $46K. Men are slightly outnumbered by their female counterparts who answered the questionnaire, who make up a slight majority at 57 percent. Job satisfaction is reported as high by the vast majority of workers. A fair number report receiving medical coverage from their employers and more than half collect dental insurance. This report is based on answers to PayScale's salary questionnaire.
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$24,967 - $69,936
(Median)
$25K
$41K
$70K
MEDIAN: $40,780
10%
50%
90%

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$9.63 - $24.71
(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
$24,967 - $69,936  
   
Bonus
$0.00 - $20,089  
Profit Sharing
$-0.49 - $5,042  
Commission
$2,483 - $98,633  
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).
)
$29,016 - $89,509  
Country: United States | Currency: USD | Updated: 2 May 2015 | Individuals Reporting: 191
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
$9.63 - $24.71  
   
Overtime
$14.62 - $31.42  
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 - $20,089  
   
Commission
$2,483 - $98,633  
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).
)
$29,016 - $89,509  
Country: United States | Currency: USD | Updated: 2 May 2015 | Individuals Reporting: 42

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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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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 $54K per year. 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

Jobs by Simply Hired
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Mortgage Originators only report a few specific skills. Mortgage Loans and Sales are considered valuable skills and can increase employee pay. At the other end of the pay range are skills like 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.


For many Mortgage Originators, experience and pay levels seem to be correlated; more years in the business generally lead to more money. Those in the early stages of their career can expect to make around $40K; however, individuals with five to 10 years of experience bring in $51K on average — a distinctly larger sum. For Mortgage Originators, 10 to 20 years of experience on the job amounts to an average salary of $55K. Big financial gains seem to result from working for more than two decades; veterans in this group report earning $62K on average.

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United States (change)

Experience Affects Mortgage Originator Salaries

Late-Career
up arrow 33%

Experienced
up arrow 19%

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
57 %
Male
43 %

Years of Experience

Less than 1 year
4%
1-4 years
42%
5-9 years
23%
10-19 years
19%
20 years or more
11%

Common Health Benefits

medical benefits Medical: 79% dental benefits Dental: 66%
vision benefits Vision: 52% employee benefits None: 18%
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