Mortgage Originator Salary

Commissions constitute a big slice (somewhere between two-thirds and three-fourths on average) of overall compensation for Mortgage Originators, and the median take-home for this group lies near $48K. More than half of Mortgage Originators (60 percent) survey participants are women. Most Mortgage Originators like their work and job satisfaction is high. A large number enjoy medical while a fair number get dental coverage. Vision coverage is also available to a majority. The data for this snapshot was collected from individuals who took PayScale's salary survey.
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$24,158 - $67,563
$24K
$44K
$68K
MEDIAN: $43,886
10%
50%
90%

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$11.61 - $23.13
$12
$16
$23
MEDIAN: $16.14
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
$24,158 - $67,563  
   
Bonus
$494.93 - $24,548  
Profit Sharing
$2,500  
Commission
$9,696 - $61,534  
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).
)
$30,550 - $79,329  
Country: United States | Currency: USD | Updated: 4 May 2017 | Individuals Reporting: 164
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
$11.61 - $23.13  
   
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
$494.93 - $24,548  
   
Commission
$9,696 - $61,534  
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).
)
$30,550 - $79,329  
Country: United States | Currency: USD | Updated: 4 May 2017 | Individuals Reporting: 46

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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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For Mortgage Originators, advancing into a Mortgage Loan Underwriter role, for which the median salary is $56K, is not common but it does happen. Career advancement for the typical Mortgage Originator often leads to becoming a Mortgage Loan Officer or a Banking Branch Manager; median salaries in these positions are $1K higher and $4K higher, 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
60 %
Male
40 %

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 23 votes.
Less than 1 year
9%
1-4 years
39%
5-9 years
16%
10-19 years
23%
20 years or more
12%
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Location:
Years in Fields/Career:
United States (change)

Experience Affects Mortgage Originator Salaries

▲24%

▲14%

▲4%

National Average
$48,000

▼10%

Skills That Affect Mortgage Originator Salaries

National Average
$48,000

Mortgage Loans
▼1%

▼1%

Customer Service
▼8%

Job Satisfaction

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

Gender

Female
60 %
Male
40 %

Years of Experience

Less than 1 year
9%
1-4 years
39%
5-9 years
16%
10-19 years
23%
20 years or more
12%

Common Health Benefits

medical benefits
Medical: 84%
dental benefits
Dental: 74%
vision benefits
Vision: 59%
no benefits
None: 13%
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