Vice President (VP), Mortgage Lending Salary

A big portion of take-home pay for VPs of Mortgage Lending — about a third, in fact — arrives through commissions. This profession's median overall income is approximately $95K. With some bonuses approaching $30K and certain profit sharing proceeds approaching $15K, overall incomes of VPs of Mortgage Lending spread between $52K and $149K depending on individual performance. Men working as VPs of Mortgage Lending who took the survey just slightly outnumber women at 56 percent. Job satisfaction is high and work is enjoyable for most VPs of Mortgage Lending. Most report receiving medical coverage from their employers and a large number collect dental insurance. This report is based on answers to PayScale's salary questionnaire.

$48,896 - $126,887
(Median)
$49K
$84K
$130K
MEDIAN: $83,857
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$60K$120K$180K
Salary
$48,896 - $126,887  
   
Bonus
$1,200 - $30,410  
Profit Sharing
$2,027 - $14,795  
Commission
$0.00 - $152,051  
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).
)
$52,230 - $149,118  
Country: United States | Currency: USD | Updated: 31 Mar 2015 | Individuals Reporting: 145

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Job Description for Vice President (VP), Mortgage Lending

  • Oversee loan department processes to ensure all procedures and regulations are followed.
  • Manage the operations of the loan department, including sales, reviewing applications, and closing loans.
  • Work with senior management to develop strategic plans to develop and improve lending operations.
  • Examine department service, processes, and products to make sure they meet customer needs.

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VPs of Mortgage Lending usually report a few specific skills. Those who have experience with Loan Underwriting, Operations Management, and Mortgage Loans can expect to be compensated well for these skills. Skills that pay less than market rate include Mortgage Loans and Operations Management. Employees educated in Loan Underwriting are typically practiced in Operations Management, too.

Related Job Salaries

United States (change)

Experience Affects Vice President (VP), Mortgage Lending Salaries

Late-Career
up arrow 5%

National Average
$95,000

Experienced
up arrow 2%

Mid-Career
up arrow 12%

Skills That Affect Vice President (VP), Mortgage Lending Salaries

Loan Underwriting
up arrow 6%

National Average
$95,000

Operations Management
up arrow 5%

Mortgage Loans
up arrow 14%

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 32 votes.

Gender

Female
44 %
Male
56 %

Years of Experience

1-4 years
4%
5-9 years
5%
10-19 years
45%
20 years or more
47%

Common Health Benefits

medical benefits Medical: 89% dental benefits Dental: 82%
vision benefits Vision: 68% employee benefits None: 8%