$46,000
Avg. Salary
$22.60
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 Detroit, Michigan is $22.60 per hour.

The median Loan Underwriter, Mortgage has a base pay of $46,000. Salaries generally range from $40k to $59k. The median bonus is .
$0.00
10%
$22.60
50%
$0.00
90%
MEDIAN $22.60
$40k
10%
$46k
50%
$59k
90%
MEDIAN $46,000
$39,663 - $58,958
$46K
MEDIAN: $46,000
50%

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$0$102K
Salary $46,000
Bonus $10,174
Total Pay (?
XTotal Pay combines base annual salary or hourly wage, bonuses, profit sharing, tips, commissions, overtime pay and other forms of cash earnings, as applicable for this job. It does not include equity (stock) compensation, cash value of retirement benefits, or the value of other non-cash benefits (e.g. healthcare).
)
$37,506 - $102,578
  • Country: United States
  • Currency: USD
  • Updated: 18 Feb 2019
  • Individuals Reporting: 8

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 Detroit, Michigan

Wayne County, Michigan
677,124
Male:
319,265 (47.2%)
Female:
357,859 (52.8%)
Detroit (/dᵻˈtrɔɪt/) is the most populous city in the U.S. state of Michigan, the fourth-largest city in the Midwest and the largest city on the United States–Canada border. It is the seat of Wayne County, the most populous county in the state. The municipality of Detroit had a 2015 estimated population of 677,116, making it the 21st-most populous city in the United States. The metropolitan area, known as Metro Detroit, is home to 4.3 million people and lies at the heart of the Great Lakes Megalopolis area, with around 60 million people. Roughly one-half of Michigan's population lives in Metro Detroit alone. The Detroit–Windsor area, a commercial link straddling the Canada–U.S. border, has a total population of about 5.7 million. Detroit is a major port on the Detroit River, a strait that connects the Great Lakes system to the Saint Lawrence Seaway. The Detroit Metropolitan Airport is among the most important hubs...
Detroit:
$25,980
Michigan:
$51,084
$747
Detroit:
$42,600
Michigan:
$137,500
10.9%

Loan Underwriter, Mortgage Job Listings

Key Stats for Loan Underwriter, Mortgage

Gender

Female
40 %
Male
60 %
1-4 years
82%
5-9 years
18%

Gender

Female
40 %
Male
60 %

Common Health Benefits

medical benefits
Medical: 86%
dental benefits
Dental: 86%
vision benefits
Vision: 86%
no benefits
None: