Avg. Base Salary (USD)
The average salary for a Mortgage Loan Officer is $54,373 in 2024
What is the Pay by Experience Level for Mortgage Loan Officers?
An entry-level Mortgage Loan Officer with less than 1 year experience can expect to earn an average total compensation (includes tips, bonus, and overtime pay) of $42,271 based on 46 salaries. An early career Mortgage Loan Officer with 1-4 years of experience earns an average total compensation of $47,913 based on 158 salaries. …Read more
What Do Mortgage Loan Officers Do?
The main objective of the mortgage loan officer is to increase the bank's customer base by finding and securing new customers seeking a mortgage. The mortgage loan officer is responsible for developing business relationships, soliciting mortgage customers, and handling customer screenings and loan pre-approvals. They also must work to increase their organization's mortgage customer base, and the officer may oversee a small staff. Most of the time, mortgage loan officers work in the banking …Read more
How do Mortgage Loan Officers Rate Their Jobs?
FAQs About Mortgage Loan Officers
What is the highest pay for Mortgage Loan Officers?
Our data indicates that the highest pay for a Mortgage Loan Officer is $89k / year
What is the lowest pay for Mortgage Loan Officers?
Our data indicates that the lowest pay for a Mortgage Loan Officer is $34k / year
How can Mortgage Loan Officers increase their salary?
Increasing your pay as a Mortgage Loan Officer is possible in different ways. Change of employer: Consider a career move to a new employer that is willing to pay higher for your skills. Level of Education: Gaining advanced degrees may allow this role to increase their income potential and qualify for promotions. Managing Experience: If you are a Mortgage Loan Officer that oversees more junior Mortgage Loan Officers, this experience can increase the likelihood to earn more.