Mortgage Originator Salary

Commissions comprise a big part of overall income for Mortgage Originators. The median take-home amount in this area is around $48K, and on average, more than two-thirds of that final number comes from commissions. Medical benefits are awarded to a large number, and a fair number earn dental coverage. For the most part, Mortgage Originators enjoy their work and report high levels of job satisfaction. The majority of Mortgage Originators (61 percent) who took the survey are female. Participants in PayScale's salary questionnaire provided the particulars of this report.
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$24,139 - $71,652
$24K
$44K
$72K
MEDIAN: $44,033
10%
50%
90%

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$11.62 - $23.13
$12
$16
$23
MEDIAN: $16.26
10%
50%
90%

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$0$81K
Salary $24,139 - $71,652
Bonus $503 - $24,392
Profit Sharing $2,500
Commission $2,136 - $73,974
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).
)
$30,168 - $81,386
  • Country: United States
  • Currency: USD
  • Updated: 25 Jul 2017
  • Individuals Reporting: 167
Hourly Data $0$37
Hourly Rate $11.62 - $23.13
Overtime $24.31
Annual Data $0$81K
Bonus $503 - $24,392
Commission $2,136 - $73,974
Profit Sharing $2,500
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).
)
$30,168 - $81,386
  • Country: United States
  • Currency: USD
  • Updated: 25 Jul 2017
  • Individuals Reporting: 46

Find Out Exactly What You Should Be Paid

United States (change)

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 is somewhat unusual to come across Mortgage Originators who move on to become Mortgage Loan Underwriters, but it does happen from time to time, and the median salary for that position sits slightly higher at $56K. It is more probable, however, that Mortgage Originators become Mortgage Loan Officers or Banking Branch Managers.

Mortgage Originator Job Listings

Pay by Experience Level for Mortgage Originator

Pay by Experience for a Mortgage Originator has a positive trend. An entry-level Mortgage Originator with less than 5 years of experience can expect to earn an average total compensation of $43,000 based on 112 salaries provided by anonymous users. Average total compensation includes tips, bonus, and overtime pay. A Mortgage Originator with mid-career experience which includes employees with 5 to 10 years of experience can expect to earn an average total compensation of $50,000 based on 46 salaries. An experienced Mortgage Originator which includes employees with 10 to 20 years of experience can expect to earn an average total compensation of $59,000 based on 43 salaries. A Mortgage Originator with late-career experience which includes employees with greater than 20 years of experience can expect to earn an average total compensation of $54,000 based on 24 salaries.

Related Job Salaries

Key Stats for Mortgage Originator

Gender

Female
61 %
Male
39 %

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 23 votes.
Less than 1 year
8%
1-4 years
38%
5-9 years
16%
10-19 years
24%
20 years or more
13%
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Location:
Years in Fields/Career:
United States (change)

Experience Affects Mortgage Originator Salaries

▲22%

▲13%

▲2%

National Average
$48,000

▼11%

Skills That Affect Mortgage Originator Salaries

National Average
$48,000

Mortgage Loans
▼2%

▼2%

Customer Service
▼9%

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 23 votes.

Gender

Female
61 %
Male
39 %

Years of Experience

Less than 1 year
8%
1-4 years
38%
5-9 years
16%
10-19 years
24%
20 years or more
13%

Common Health Benefits

medical benefits
Medical: 82%
dental benefits
Dental: 71%
vision benefits
Vision: 58%
no benefits
None: 16%
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