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Mortgage Originator Salary (United States)

A substantial slice of final earnings for Mortgage Originators (just below three-fifths) arrives through commissions. Median overall income in this area is approximately $47K. In the world of Mortgage Originators, total cash compensation can vary between $29K and $98K. Each package generally includes bonuses and profit sharing proceeds, and in exceptional cases, those amounts can reach heights of $20K and $10K, respectively. Medical benefits are awarded to a solid majority, and a majority earn dental coverage. Women Mortgage Originators just slightly outnumber men. Most Mortgage Originators like their work and job satisfaction is high. The data for this synopsis comes from respondents who took the PayScale salary survey.
Mortgage Originator Salary (?
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.
)
$24,231 - $66,196
(Median)
24K
30K
40K
52K
66K
MEDIAN: $39,901
10%
25%
50%
75%
90%
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Mortgage Originator Salary (?
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.
)
$9.79 - $23.89
(Median)
9
12
15
19
24
MEDIAN: $14.00
10%
25%
50%
75%
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
$24,231 - $66,196  
   
Bonus
$0.00 - $19,668  
Profit Sharing
$-0.50 - $9,863  
Commission
$4,596 - $102,467  
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).
)
$29,069 - $97,542  
Country: United States | Currency: USD | Updated: 3 Sep 2014 | Individuals Reporting: 233
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
$9.79 - $23.89  
   
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 - $19,668  
   
Commission
$4,596 - $102,467  
Profit Sharing
$-0.50 - $9,863  
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).
)
$29,069 - $97,542  
Country: United States | Currency: USD | Updated: 3 Sep 2014 | Individuals Reporting: 52
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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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Though not the norm, some Mortgage Originators do take on roles like Mortgage Loan Underwriters, where pay is slightly higher — $54K annually. It is quite typical for Mortgage Originators to transition into roles as Banking Branch Managers or Mortgage Loan Officers, where reported median earnings are $4K and $2K higher per year.

Mortgage Originator Job Listings

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Mortgage Originators typically list a handful of skills they use on the job. Mortgage Loans and Sales are considered valuable skills and can increase employee pay. Skills that are correlated to lower pay, on the other hand, include Sales and Mortgage Loans. It is not unusual for someone who knows Mortgage Loans to be familiar with Sales as well.

Pay by Experience Level for Mortgage Originator

Median of all compensation (including tips, bonus, and overtime) by years of experience.
For many Mortgage Originators, extensive experience does not lead to significantly more money. The average worker who claims fewer than five years of experience earns around $40K. In contrast, however, individuals who report five to 10 years in this occupation see a much larger median of $51K. Mortgage Originators see a median salary of $55K after reaching one to two decades on the job. More than 20 years of experience mean a somewhat bigger median paycheck of $57K, but it's not much more than what less experienced people make. More than half of respondents report one to nine years of experience. Experienced employees who have 10-20 years of experience make up just under a fifth of the workforce; inexperienced individuals who have been working for less than one year comprise less than five percent, and senior people with more than 20 years under their belt fill out the remaining roughly a tenth.

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Experience Affects Mortgage Originator Salaries

Late-Career
up arrow 23%
Experienced
up arrow 18%
Mid-Career
up arrow 9%
National Average
$47,000
Entry-Level
up arrow 14%

Skills That Affect Mortgage Originator Salaries

National Average
$47,000
Sales
up arrow 18%

Job Satisfaction

Highly satisfied Image
Highly satisfied
Rated 4 out of 5 based on 56 votes.

Gender

Female
58%
female alumni
 
Male
42%
male alumni

Years of Experience

Less than 1 year
5%
1-4 years
43%
5-9 years
24%
10-19 years
18%
20 years or more
11%

Common Health Benefits

medical benefits Medical: 81% dental benefits Dental: 65%
vision benefits Vision: 47% employee benefits None: 17%