A Loan Underwriter, Mortgage in Toronto, Ontario earns an average salary of C$57,449 per year. For the first five to ten years in this position, salary increases sharply, but any additional experience does not have a big effect on pay.

C$39,353 - C$70,314
C$39K
C$55K
C$70K
MEDIAN: C$55,342
10%
50%
90%
C$12.10 - C$25.43
C$16
MEDIAN: C$16.50
50%
C$0C$72K
Salary C$39,353 - C$70,314
Bonus C$2,023 - C$9,500
Profit Sharing C$9,600
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).
)
C$37,174 - C$72,576
  • Country: Canada
  • Currency: CAD
  • Updated: 17 Jan 2018
  • Individuals Reporting: 72
Hourly Data C$0C$25
Hourly Rate C$16.50
Overtime C$24.61
Annual Data C$0C$72K
Bonus C$2,023 - C$9,500
Profit Sharing C$9,600
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).
)
C$37,174 - C$72,576
  • Country: United States
  • Currency: CAD
  • Updated: 17 Jan 2018
  • Individuals Reporting: 6

Job Description for Loan Underwriter, Mortgage

Mortgage loan underwriters are responsible for approving or rejecting mortgages. To make this decision, the mortgage underwriter must generate a risk report and demonstrate how the contents of the report are within the lender's guidelines for approval, or how the contents of the report fail to meet the guidelines. The first thing that mortgage underwriters do is obtain and review credit reports for prospective debtors. Next, they obtain information from prospective debtors about their income, and possibly their assets and other debts. Afterward, mortgage underwriters will determine what collateral is available that can be used to back the mortgage.

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Loan Underwriter, Mortgage Tasks

  • Analyze credit data and financial statements of individuals or firms to determine the risk involved in extending credit or lending money.
  • Prepare reports based on the results from the risk analysis for use in decision-making.

Loan Underwriter, Mortgage Job Listings

Pay by Experience Level for Loan Underwriter, Mortgage

Pay by Experience for a Loan Underwriter, Mortgage has a positive trend. An entry-level Loan Underwriter, Mortgage with less than 5 years of experience can expect to earn an average total compensation of C$51,000 based on 16 salaries provided by anonymous users. Average total compensation includes tips, bonus, and overtime pay. A Loan Underwriter, Mortgage with mid-career experience which includes employees with 5 to 10 years of experience can expect to earn an average total compensation of C$67,000 based on 12 salaries. An experienced Loan Underwriter, Mortgage which includes employees with 10 to 20 years of experience can expect to earn an average total compensation of C$66,000 based on 12 salaries. A Loan Underwriter, Mortgage with late-career experience which includes employees with greater than 20 years of experience can expect to earn an average total compensation of C$66,000 based on 7 salaries.

Key Stats for Loan Underwriter, Mortgage

Gender

Female
69 %
Male
31 %

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 6 votes.
Less than 1 year
5%
1-4 years
27%
5-9 years
36%
10-19 years
18%
20 years or more
14%

Experience Affects Loan Underwriter, Mortgage Salaries

Mid-Career
▲19%

Experienced
▲18%

Late-Career
▲17%

National Average
C$56,000

Entry-Level
▼8%

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 6 votes.

Gender

Female
69 %
Male
31 %

Years of Experience

Less than 1 year
5%
1-4 years
27%
5-9 years
36%
10-19 years
18%
20 years or more
14%

Common Health Benefits

medical benefits
Medical: 67%
dental benefits
Dental: 67%
vision benefits
Vision: 60%
no benefits
None: 31%