The average hourly pay for a Mortgage Loan Specialist is $17.68.
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$14 - $23
$200 - $10,480
$500 - $3,000
$0 - $19,653
$31,142 - $59,586
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Job Description for Mortgage Loan Specialist
Mortgage loan specialists help clients secure financing for homes and business-related buildings. Although some leads are presented to them directly, these specialists are generally required to find clients by working with realtors and businesses. Those in this position may have minimum sales goals, and commission is usually offered based on their success. Mortgage loan specialists must be entirely familiar with all company policies and regulations within their field and should have exceptional…Read more
Mortgage Loan Specialist Tasks
- Ensure that loans are funded.
- Oversee processing of closing documents for loans.
Job Satisfaction for Mortgage Loan Specialist
Popular Employer Salaries for Mortgage Loan Specialist
The top respondents for the job title Mortgage Loan Specialist are from the companies Bank of America Corp. (BOFA), Wells Fargo Home Mortgage and HSBC. Reported salaries are highest at Bank of America Corp. (BOFA) where the average pay is $20.01. Wells Fargo Home Mortgage pays the lowest at around $15.43.
Explore the most common career paths for Mortgage Loan Specialist. Thickness and color of lines indicates popularity of movement from one job to the next. Visit our career path planner to research other job paths.
Mortgage Loan Specialist
More common (> 20%)
Somewhat common (8 - 20%)
Less common (< 8%)
Mortgage Loan Specialist Job Listings
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Popular Skills for Mortgage Loan Specialist
Avg. Hourly Rate
Skills in Mortgage Loans and Data Entry are correlated to pay that is above average. Skills that pay less than market rate include Microsoft Excel, Data Analysis and Loan Documents.
Pay by Experience Level for Mortgage Loan Specialist
An entry-level Mortgage Loan Specialist with less than 1 year experience can expect to earn an average total compensation (includes tips, bonus, and overtime pay) of $15.02 based on 16 salaries. An early career Mortgage Loan Specialist with 1-4 years of experience earns an average total compensation of $16.40 based on 126 salaries. A mid-career Mortgage Loan Specialist with 5-9 years of experience earns an average total compensation of $18.92 based on 78 salaries. An experienced Mortgage Loan Specialist with 10-19 years of experience earns an average total compensation of $20.06 based on 77 salaries. In their late career (20 years and higher), employees earn an average total compensation of $19.
Pay Difference by Location
Learn more about cost of living by city.
Employees with Mortgage Loan Specialist in their job title in Seattle, Washington earn an average of 22.6% more than the national average. These job titles also find higher than average salaries in Tampa, Florida (15.9% more) and Minneapolis, Minnesota (14.4% more). The lowest salaries can be found in Tempe, Arizona (19.0% less), Cincinnati, Ohio (4.9% less) and Jacksonville, Florida (3.7% less).
Years of Experience
This data is based on 330 survey responses.