The average salary for a Loan Originator is $43,960.
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$28k - $115k
$805 - $69k
$3k - $20k
$2k - $204k
$28k - $125k
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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. Prior to closing the loan, they must review and verify loan documents such as income statements, credit reports, appraisal reports, and ti…Read more
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.
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.
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.
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