A substantial slice of final earnings for Mortgage Originators (a little under three-quarters) arrives through commissions. Median overall income in this area is approximately $47K. Medical benefits are awarded to a large number, and a fair number earn dental coverage. Most Mortgage Originators like their work and job satisfaction is high. Women Mortgage Originators who took the survey just slightly outnumber men. Respondents to the PayScale salary survey provided the data for this report.
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$24,454 - $66,939
$24K
$44K
$67K
MEDIAN: $44,107
10%
50%
90%

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$11.53 - $22.10
$12
$16
$22
MEDIAN: $16.00
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
$24,454 - $66,939  
   
Bonus
$484.79 - $20,685  
Profit Sharing
$2,500  
Commission
$9,729 - $73,974  
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).
)
$30,715 - $80,227  
Country: United States | Currency: USD | Updated: 18 Jan 2017 | Individuals Reporting: 146
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
$11.53 - $22.10  
   
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
$484.79 - $20,685  
   
Commission
$9,729 - $73,974  
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).
)
$30,715 - $80,227  
Country: United States | Currency: USD | Updated: 18 Jan 2017 | Individuals Reporting: 41

Find Out Exactly What You Should Be Paid

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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Although it's unusual, some Mortgage Originators transition into jobs as Mortgage Loan Underwriters. The latter group reports earning a slightly lower median of $56K per year, though. It is quite typical for Mortgage Originators to transition into roles as Mortgage Loan Officers or Banking Branch Managers, where reported median earnings are $2K and $5K higher per year.

Mortgage Originator Job Listings

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Pay by Experience Level for Mortgage Originator

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


Workers with less than five years' experience earn around $43K on average, and those who have five to 10 years under their belts see a higher median salary of $49K. Mortgage Originators claiming one to two decades of experience make an estimated median of $57K. For some reason, Mortgage Originators with more than two decades of experience report lower paychecks overall; the median sum in this group sits near $50K.

Related Job Salaries

Key Stats for Mortgage Originator

Gender

Female
57 %
Male
43 %

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 16 votes.
Less than 1 year
7%
1-4 years
42%
5-9 years
18%
10-19 years
22%
20 years or more
11%
Location:
Years in Fields/Career:
United States (change)

Experience Affects Mortgage Originator Salaries

Experienced
up arrow 23%

Late-Career
up arrow 6%

Mid-Career
up arrow 5%

National Average
$47,000


Skills That Affect Mortgage Originator Salaries


Sales
0%

National Average
$47,000

Customer Service
up arrow 6%

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 16 votes.

Gender

Female
57 %
Male
43 %

Years of Experience

Less than 1 year
7%
1-4 years
42%
5-9 years
18%
10-19 years
22%
20 years or more
11%

Common Health Benefits

medical benefits
Medical: 80%
dental benefits
Dental: 71%
vision benefits
Vision: 55%
dental benefits
None: 16%
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