$58,958
Avg. Salary
$19.26
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 Troy, Michigan is $19.26 per hour.

The average pay for a Loan Underwriter, Mortgage in Troy, Michigan is $58,958 per year.

$0.00
10%
$19.26
50%
$0.00
90%
MEDIAN $19.26
$0
10%
$59k
50%
$0
90%
MEDIAN $58,958
$40,115 - $61,042
$50K
MEDIAN: $50,000
50%

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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 Troy, Michigan

Oakland County, Michigan
83,276
Male:
42,371 (50.9%)
Female:
40,905 (49.1%)
Troy is a city located among Metropolitan Detroit's northern suburbs in Oakland County in the state of Michigan. The population was 80,980 at the 2010 census, making it the 11th-largest city in Michigan by population, and the largest city in Oakland County. Troy has become a business and shopping destination in the Metro Detroit area, with numerous office centers and the upscale Somerset Collection mall. In 2011, Troy was ranked the safest city in Michigan, as well as the 19th safest city in the nation. In 2008, Troy was ranked 22nd on a list of "Best Places to Live" in the United States by CNN Money, using criteria including housing, quality of education, economic strength, and recreational opportunities. In 2008, Troy ranked as the fourth most affordable U.S. city with a median household income of approximately $79,000. The earliest recorded purchases of land in what was known as Troy Township occurred in...
Troy:
$87,447
Michigan:
$51,084
$1,040
Troy:
$271,800
Michigan:
$137,500
2.2%

Loan Underwriter, Mortgage Job Listings

Key Stats for Loan Underwriter, Mortgage

Gender

Female
67 %
Male
33 %
Less than 1 year
43%
1-4 years
57%

Gender

Female
67 %
Male
33 %

Common Health Benefits

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