$71,383
Avg. Salary
$35.61
Avg. Hourly Rate
Help us gather more data! Is Loan Underwriter, Mortgage your job title? Find out what you're worth.

The average pay for a Loan Underwriter, Mortgage in Chicago, Illinois is $35.61 per hour.

The average pay for a Loan Underwriter, Mortgage in Chicago, Illinois is $71,383 per year.

10%
$0.00
10%
$35.61
50%
$0.00
90%
90%
MEDIAN $35.61
10%
$0
10%
$71k
50%
$0
90%
90%
MEDIAN $71,383

Job Description for Loan Underwriter, Mortgage

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, and possibly their assets and other debts. Afterward, mortgage underwriters will determine what collateral is available that can be used to back the mortgage.

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Loan Underwriter, Mortgage Tasks
  • Analyze credit data and financial statements of individuals or firms to determine the risk involved in extending credit or lending money.
  • Prepare reports based on the results from the risk analysis for use in decision-making.

About Chicago, Illinois

Cook County, Illinois
2,720,556
Male:
1,320,015 (48.5%)
Female:
1,400,541 (51.5%)
Chicago (/ʃᵻˈkɑːɡoʊ/ or /ʃᵻˈkɔːɡoʊ/), officially the City of Chicago, is the third-most populous city in the United States. With over 2.7 million residents, it is the most populous city in the state of Illinois and the Midwestern United States, and the county seat of Cook County. The Chicago metropolitan area, often referred to as Chicagoland, has nearly 10 million people and is the third-largest in the U.S. Chicago was incorporated as a city in 1837, near a portage between the Great Lakes and the Mississippi River watershed, and grew rapidly in the mid-nineteenth century. The city is an international hub for finance, commerce, industry, technology, telecommunications, and transportation: O'Hare International Airport is the second-busiest airport in the world when measured by aircraft traffic; the region also has the largest number of U.S. highways and rail road freight. In 2012, Chicago was listed as an alpha global city by the Globalization and World Cities Research...
Chicago:
$50,702
Illinois:
$59,588
$985
Chicago:
$238,500
Illinois:
$180,300
6.3%

Loan Underwriter, Mortgage Job Listings

Key Stats for Loan Underwriter, Mortgage

Gender

Female
75 %
Male
25 %
10-19 years
86%
20 years or more
14%

Skills That Affect Loan Underwriter, Mortgage Salaries

Loan Underwriting
▲6%

Mortgage Loans
▲6%

National Average
$78,000

Gender

Female
75 %
Male
25 %

Common Health Benefits

medical benefits
Medical: 83%
dental benefits
Dental: 83%
vision benefits
Vision: 50%
no benefits
None: 17%