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Mortgage Originator Salary

Commissions constitute a big slice (just over two-fifths on average) of overall compensation for Mortgage Originators, and the median take-home for this group lies near $46K. Most Mortgage Originators like their work and job satisfaction is high. A strong majority enjoy medical while the greater part get dental coverage. Vision coverage is also available to slightly more than half. The data for this synopsis comes from respondents who took the PayScale salary survey.
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$24,872 - $70,363
(Median)
$25K
$41K
$70K
MEDIAN: $40,566
10%
50%
90%

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$9.93 - $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$50K$100K$150K
Salary
$24,872 - $70,363  
   
Bonus
$0.00 - $19,893  
Profit Sharing
$-0.49 - $5,042  
Commission
$2,500 - $101,736  
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).
)
$29,103 - $92,025  
Country: United States | Currency: USD | Updated: 31 Mar 2015 | Individuals Reporting: 197
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$25$50$75
Hourly Rate
$9.93 - $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 - $19,893  
   
Commission
$2,500 - $101,736  
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).
)
$29,103 - $92,025  
Country: United States | Currency: USD | Updated: 31 Mar 2015 | Individuals Reporting: 42

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Job Description for Mortgage Originator

  • 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 $3K higher per year.

Mortgage Originator Job Listings

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Survey results show that Mortgage Originators typically report just a few professional skills. Mortgage Loans and Sales are considered valuable skills and can increase employee pay. Skills that seem to negatively impact pay 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 rich background of experience are typically rewarded with larger paychecks. Although individuals who have less than five years' experience earn $40K on average, people with five to 10 years benefit from a notably larger average of $50K. On average, Mortgage Originators make $55K following one to two decades on the job. Old hands who claim more than two decades on the job enjoy average earnings of $61K.

Related Job Salaries

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Experience Affects Mortgage Originator Salaries

Late-Career
up arrow 33%

Experienced
up arrow 19%

Mid-Career
up arrow 9%

National Average
$46,000

Entry-Level
up arrow 13%

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 42 votes.

Gender

Female
59 %
Male
41 %

Years of Experience

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

Common Health Benefits

medical benefits Medical: 80% dental benefits Dental: 66%
vision benefits Vision: 52% employee benefits None: 18%