Average Loan Originator Salary

$43,960
Avg. SalaryShow Hourly Rate
$6,794
Bonus
$28,500
Commission
$5,087
Profit Sharing
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The average salary for a Loan Originator is $43,960.
10%
$28k
10%
$44k
50%
$115k
90%
90%
MEDIAN $43,960
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United States (change)
Salary
$28k - $115k
Bonus
$805 - $69k
Profit Sharing
$3k - $20k
Commission
$2k - $204k
Total Pay
$28k - $125k

Your Market Worth Over Time

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Job Description for Loan Originator

Loan Originator Tasks
  • Obtain and compile financial information to evaluate loan applications and their risk.
  • Generate new clients and referrals through strong relationship building.
  • Track and maintain credit and loan data.
  • Work directly with clients to review agreements, explain programs, and negotiate loans and terms.

Career Paths

Explore the most common career paths for Loan Originator. Thickness and color of lines indicates popularity of movement from one job to the next. Visit our career path planner to research other job paths.
Loan Originator
Mortgage Loan Officer
System Administrator, Computer / Network
Assistant General Manager, Hotel
More common (> 20%)
Somewhat common (8 - 20%)
Less common (< 8%)

Loan Originator Job Listings

Popular Skills for Loan Originator

Skills in Loan Underwriting are correlated to pay that is above average. Skills that pay less than market rate include Data Analysis, Sales, Financial Analysis and Customer Service.

Pay by Experience Level for Loan Originator

An entry-level Loan Originator with less than 1 year experience can expect to earn an average total compensation (includes tips, bonus, and overtime pay) of $34,737 based on 14 salaries. An early career Loan Originator with 1-4 years of experience earns an average total compensation of $40,191 based on 75 salaries. A mid-career Loan Originator with 5-9 years of experience earns an average total compensation of $65,000 based on 22 salaries. An experienced Loan Originator with 10-19 years of experience earns an average total compensation of $58,958 based on 30 salaries. In their late career (20 years and higher), employees earn an average total compensation of $55,000.

Pay Difference by Location

Learn more about cost of living by city.
Employees with Loan Originator in their job title in New York, New York earn an average of 127.5% more than the national average. These job titles also find higher than average salaries in Phoenix, Arizona (50.1% more). The lowest salaries can be found in Houston, Texas (4.5% less).

Years of Experience

This data is based on 153 survey responses.
Entry Level
9.2%
Early Career
49.0%
Mid Career
14.4%
Experienced
19.6%
Late Career
7.8%