Vice President (VP), Mortgage Lending Salary

On average, commissions constitute a fair portion (just under one in three) of final income for VPs of Mortgage Lending. That final number averages out to $91K across the industry. Cash earnings for VPs of Mortgage Lending — including $30K in bonuses and $15K in profit sharing proceeds near the top of the pay scale — generally stretch from $52K to $144K depending on individual performance. Most VPs of Mortgage Lending like their work and job satisfaction is high. Almost all report receiving medical coverage from their employers and a large number collect dental insurance. Male VPs of Mortgage Lending are just a bit more common among those who completed the questionnaire than females ones, with male workers composing 56 percent of the field. Respondents to the PayScale salary survey provided the data for this report.

$48,475 - $127,344
MEDIAN: $83,370

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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.
$48,475 - $127,344  
$1,485 - $30,151  
Profit Sharing
$1,021 - $14,681  
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).
$51,660 - $144,305  
Country: United States | Currency: USD | Updated: 12 Jan 2016 | Individuals Reporting: 159
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Job Description for Vice President (VP), Mortgage Lending

A vice president (VP) of mortgage lending overseas their financial institution's mortgage lending department, which can be in one location or an entire region. The vice president structures credit policies for the company; for example, this includes the requirements that must be met before a customer secures a loan and requirements to obtain pre-approval. Additionally, guidelines for the underwriting department and other departments involved in the loan evaluation and granting process are created and modified by the vice president when necessary.


Vice President (VP), Mortgage Lending Tasks

  • 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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Pay by Experience Level for Vice President (VP), Mortgage Lending

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

Experience and pay tend to be weakly linked for VPs of Mortgage Lending — those with more experience do not necessarily bring in higher earnings. The average worker who claims fewer than five years of experience earns around $70K. In contrast, however, individuals who report five to 10 years in this occupation see a much larger median of $84K. VPs of Mortgage Lending with one to two decades of relevant experience report an average salary of approximately $91K. VPs of Mortgage Lending who have stuck around for more than two decades see earnings that are only slightly higher than those of folks who have worked for 10 to 20 years; the more senior group makes around $97K on average.

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Experience Affects Vice President (VP), Mortgage Lending Salaries

up arrow 6%


National Average

up arrow 8%

up arrow 24%

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

Operations Management
up arrow 6%

Loan Underwriting
up arrow 4%

National Average

Mortgage Loans
up arrow 10%

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 34 votes.


44 %
56 %

Years of Experience

1-4 years
5-9 years
10-19 years
20 years or more

Common Health Benefits

medical benefits
Medical: 91%
dental benefits
Dental: 83%
medical benefits
Vision: 67%
dental benefits
None: 7%