Loan Originator Salary

A Loan Originator earns an average salary of $43,638 per year. Pay for this job rises steadily for more experienced workers, but goes down significantly for the few employees with more than 20 years' experience. Most people move on to other jobs if they have more than 20 years' experience in this field.

$28,993 - $109,010
$29K
$43K
$110K
MEDIAN: $43,351
10%
50%
90%

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$11.43 - $21.95
$11
$15
$22
MEDIAN: $14.81
10%
50%
90%

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$0$215K
Salary $28,993 - $109,010
Bonus $811 - $50,507
Profit Sharing $12,500
Commission $-0.50 - $215,317
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).
)
$29,011 - $127,325
  • Country: United States
  • Currency: USD
  • Updated: 16 Nov 2017
  • Individuals Reporting: 78
Hourly Data $0$21
Hourly Rate $11.43 - $21.95
Overtime $18.00
Annual Data $0$215K
Bonus $811 - $50,507
Commission $-0.50 - $215,317
Profit Sharing $12,500
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).
)
$29,011 - $127,325
  • Country: United States
  • Currency: USD
  • Updated: 16 Nov 2017
  • Individuals Reporting: 21

Job Description for Loan Originator

Loan originators work primarily for financial institutions, such as mortgage lending companies, banks, and credit unions to process loan applications up to the actual fund disbursement. They may also decline applications and solicit, negotiate, and coordinate consumers’ loans (car loans, personal loans, residential loans) and/or commercial or business loans.

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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.

Loan Originator Job Listings

Pay by Experience Level for Loan Originator

Pay by Experience for a Loan Originator has a positive trend. An entry-level Loan Originator with less than 5 years of experience can expect to earn an average total compensation of $40,000 based on 67 salaries provided by anonymous users. Average total compensation includes tips, bonus, and overtime pay. A Loan Originator with mid-career experience which includes employees with 5 to 10 years of experience can expect to earn an average total compensation of $70,000 based on 24 salaries. An experienced Loan Originator which includes employees with 10 to 20 years of experience can expect to earn an average total compensation of $81,000 based on 16 salaries. A Loan Originator with late-career experience which includes employees with greater than 20 years of experience can expect to earn an average total compensation of $51,000 based on 7 salaries.

Related Job Salaries

Key Stats for Loan Originator

Gender

Female
44 %
Male
56 %

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 15 votes.
Less than 1 year
8%
1-4 years
49%
5-9 years
13%
10-19 years
20%
20 years or more
9%

Experience Affects Loan Originator Salaries

Experienced
▲84%

Mid-Career
▲57%

Late-Career
▲15%

National Average
$44,000

Entry-Level
▼10%

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 15 votes.

Gender

Female
44 %
Male
56 %

Years of Experience

Less than 1 year
8%
1-4 years
49%
5-9 years
13%
10-19 years
20%
20 years or more
9%

Common Health Benefits

medical benefits
Medical: 83%
dental benefits
Dental: 68%
vision benefits
Vision: 55%
no benefits
None: 17%