Mortgage Originator Salary

Commissions form a big slice (just over two-fifths) of total compensation for Mortgage Originators. The median income in this area hovers around $45K. Men are slightly outnumbered by their female counterparts who answered the questionnaire, who make up a slight majority at 58 percent. A strong majority enjoy medical while more than half get dental coverage. Vision coverage is also available to slightly more than half. Job satisfaction is high and work is enjoyable for most Mortgage Originators. The data for this synopsis comes from respondents who took the PayScale salary survey.
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$26,180 - $68,871
(Median)
$26K
$41K
$69K
MEDIAN: $40,858
10%
50%
90%

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$9.70 - $24.61
(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
$26,180 - $68,871  
   
Bonus
$0.00 - $20,044  
Profit Sharing
$-0.49 - $5,042  
Commission
$-0.49 - $101,014  
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).
)
$29,016 - $89,509  
Country: United States | Currency: USD | Updated: 2 Jul 2015 | Individuals Reporting: 190
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
$9.70 - $24.61  
   
Overtime
$14.90 - $31.21  
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 - $20,044  
   
Commission
$-0.49 - $101,014  
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).
)
$29,016 - $89,509  
Country: United States | Currency: USD | Updated: 2 Jul 2015 | Individuals Reporting: 43
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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

  • 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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Although it's unusual, some Mortgage Originators transition into jobs as Mortgage Loan Underwriters. The latter group reports earning a slightly lower median of $54K per year, though. Typical career progression for a Mortgage Originator involves becoming a Banking Branch Manager or a Mortgage Loan Officer, roles that pay $6K more and $3K more on average.

Mortgage Originator Job Listings

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Professional skills reported by Mortgage Originators are few in number. Mortgage Loans and Sales are considered valuable skills and can increase employee pay. At the other end of the pay range are skills like Sales and Mortgage Loans. Mortgage Loans and Sales are also commonly seen together.

Pay by Experience Level for Mortgage Originator

Median of all compensation (including tips, bonus, and overtime) by years of experience.


Mortgage Originators with a lot of experience tend to enjoy higher earnings. 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 $49K. Mortgage Originators who work for 10 to 20 years in their occupation tend to earn about $55K. More than 20 years of experience mean a somewhat bigger median paycheck of $61K, but it's not much more than what less experienced people make.

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Experience Affects Mortgage Originator Salaries

Late-Career
up arrow 35%

Experienced
up arrow 22%

Mid-Career
up arrow 8%

National Average
$45,000

Entry-Level
up arrow 11%

Skills That Affect Mortgage Originator Salaries

National Average
$45,000


Sales
up arrow 18%

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 37 votes.

Gender

Female
58 %
Male
42 %

Years of Experience

Less than 1 year
4%
1-4 years
43%
5-9 years
22%
10-19 years
19%
20 years or more
11%

Common Health Benefits

medical benefits Medical: 79% dental benefits Dental: 66%
vision benefits Vision: 52% employee benefits None: 19%
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