Avg. Base Salary (USD)
The average salary for a Loan Underwriter, Mortgage is $67,120
What is the Pay by Experience Level for Loan Underwriter, Mortgages?
An entry-level Loan Underwriter, Mortgage with less than 1 year experience can expect to earn an average total compensation (includes tips, bonus, and overtime pay) of $50,472 based on 41 salaries. An early career Loan Underwriter, Mortgage with 1-4 years of experience earns an average total compensation of $59,309 based on 197 …Read more
What Do Loan Underwriter, Mortgages Do?
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, …Read more