Mortgage Originator Salary

The median total income of Mortgage Originators is around $47K, and for the average worker in this area, a good chunk of that (more than two-thirds, in fact) comes from commissions. For the most part, Mortgage Originators enjoy their work and report high levels of job satisfaction. Women make up a slight majority of Mortgage Originators (58 percent) survey respondents. Medical benefits are awarded to most, and a strong majority earn dental coverage. Participants in PayScale's salary questionnaire provided the particulars of this report.
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$23,965 - $66,384
$24K
$44K
$66K
MEDIAN: $43,756
10%
50%
90%

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$11.56 - $22.40
$12
$16
$22
MEDIAN: $16.23
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$27K$54K$81K
Salary
$23,965 - $66,384  
   
Bonus
$489.36 - $24,083  
Profit Sharing
$2,500  
Commission
$9,759 - $73,698  
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).
)
$30,519 - $79,756  
Country: United States | Currency: USD | Updated: 25 Mar 2017 | Individuals Reporting: 148
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
$11.56 - $22.40  
   
Overtime
$23.60  
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
$489.36 - $24,083  
   
Commission
$9,759 - $73,698  
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).
)
$30,519 - $79,756  
Country: United States | Currency: USD | Updated: 25 Mar 2017 | Individuals Reporting: 43

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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

  • 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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Although it's unusual, some Mortgage Originators transition into jobs as Mortgage Loan Underwriters. The latter group reports earning a slightly lower median of $56K per year, though. Mortgage Originators typically move into roles as Mortgage Loan Officers or Banking Branch Managers, and those positions pay $2K more and $5K more, respectively.

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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
58 %
Male
42 %

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 19 votes.
Less than 1 year
7%
1-4 years
42%
5-9 years
17%
10-19 years
21%
20 years or more
13%
Location:
Years in Fields/Career:
United States (change)

Experience Affects Mortgage Originator Salaries

▲25%

▲16%

▲5%

National Average
$47,000

▼8%

Skills That Affect Mortgage Originator Salaries

▲1%

Mortgage Loans
▼0%

National Average
$47,000

Customer Service
▼6%

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 19 votes.

Gender

Female
58 %
Male
42 %

Years of Experience

Less than 1 year
7%
1-4 years
42%
5-9 years
17%
10-19 years
21%
20 years or more
13%

Common Health Benefits

medical benefits
Medical: 82%
dental benefits
Dental: 73%
vision benefits
Vision: 57%
no benefits
None: 15%