Mortgage Originator Salary

Total annual pay for Mortgage Originators is approximately $45K, and commissions account for a significant portion of this final number — just over two-fifths on average. Women make up a slight majority of Mortgage Originators (57 percent) survey respondents. Job satisfaction is reported as high by the vast majority of workers. Medical benefits are awarded to a strong majority, and a majority earn dental coverage. The information for this rundown comes from respondents who completed PayScale's salary questionnaire.
Read More
$26,180 - $68,871
(Median)
$26K
$41K
$69K
MEDIAN: $40,858
10%
50%
90%

Add this chart to your site: 640px    300px

$9.65 - $24.71
(Median)
$9
$15
$25
MEDIAN: $15.00
10%
50%
90%

Add this chart to your site: 640px    300px

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 - $20,067  
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).
)
$29,002 - $89,717  
Country: United States | Currency: USD | Updated: 20 Jun 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
$9.65 - $24.71  
   
Overtime
$14.79 - $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 - $20,067  
   
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).
)
$29,002 - $89,717  
Country: United States | Currency: USD | Updated: 20 Jun 2015 | Individuals Reporting: 42
United States (change)

Find Out Exactly What You Should Be Paid

United States (change)


Comp Managers: Start Here »

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.

Read More...

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


Add this chart to your site:   640px 640px    300px 300px


Though it's uncommon, some Mortgage Originators move into roles as Mortgage Loan Underwriters, where they can earn incomes averaing out to a slightly higher $54K per year. Mortgage Originators moving up in their careers tend to step into positions as Banking Branch Managers or Mortgage Loan Officers. The median paychecks in those roles are $6K higher and $3K higher, respectively.

Mortgage Originator Job Listings

Search for more jobs:


Just a handful of professional skills are reported by Mortgage Originators who took the survey. 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. 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.


Experience is an important factor influencing the compensation of Mortgage Originators. The average beginner in this position makes around $40K, but folks who have been around for five to 10 years see a markedly higher median salary of $49K. For Mortgage Originators, 10 to 20 years of experience on the job amounts to an average salary of $55K. Individuals who report more than two decades of experience seem to make only slightly more than folks in the 10-to-20 year range; the more senior group sees median earnings in the comparatively modest ballpark of $61K.

Related Job Salaries

United States (change)

Find Out Exactly What You Should Be Paid

United States (change)


Comp Managers: Start Here »

Experience Affects Mortgage Originator Salaries

Late-Career
up arrow 34%

Experienced
up arrow 21%

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 19%

Job Satisfaction

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

Gender

Female
57 %
Male
43 %

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%
ADVERTISEMENT