The average pay for a Loan Originator is $15.05 per hour.
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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.
Read More...- 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.
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Key Stats for Loan Originator
Gender
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Female
46 % |
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Male
54 % |
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Job Satisfaction
| Extremely satisfied |
Rated 5 out of 5 based on 25 votes. |
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