$41,679
Avg. Salary
$17.50
Avg. Hourly Rate

Average additional compensation:

$2,448

Bonus

$1,200

Profit Sharing

$19,653

Commission

What am I worth?
How should I pay?

The average pay for a Mortgage Loan Specialist is $17.50 per hour.

The average pay for a Mortgage Loan Specialist is $41,679 per year.

$13.67
10%
$17.50
50%
$22.55
90%
MEDIAN $17.50
$31k
10%
$42k
50%
$62k
90%
MEDIAN $41,679
$31,495 - $61,890
$31K
$42K
$62K
MEDIAN: $41,679
10%
50%
90%

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$13.67 - $22.55
$14
$17
$23
MEDIAN: $17.50
10%
50%
90%

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$0$61K
Salary $31,495 - $61,890
Bonus $0.00 - $10,247
Profit Sharing $1,200
Commission $19,653
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).
)
$30,781 - $57,116
  • Country: United States
  • Currency: USD
  • Updated: 12 Feb 2019
  • Individuals Reporting: 163
Hourly Data $0$34
Hourly Rate $13.67 - $22.55
Overtime $19.83 - $34.71
Annual Data $0$57K
Bonus $0.00 - $10,247
Commission $19,653
Profit Sharing $1,200
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).
)
$30,781 - $57,116
  • Country: United States
  • Currency: USD
  • Updated: 12 Feb 2019
  • Individuals Reporting: 204

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.

Read More...
Mortgage Loan Specialist Tasks
  • Ensure that loans are funded.
  • Oversee processing of closing documents for loans.

Mortgage Loan Specialist Pay By Employer

$0$50K

$41,629

$32,112

$37,480

HSBC
2 profiles
$44,000

Common Career Paths for Mortgage Loan Specialist


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Many Mortgage Loan Specialists transition into upper-level roles like Mortgage Loan Processor. However, Mortgage Loan Processors do report a slightly lower median income of $36K per year.

Mortgage Loan Specialist Job Listings

Pay by Experience Level for Mortgage Loan Specialist

Pay by Experience for a Mortgage Loan Specialist has a positive trend. An entry-level Mortgage Loan Specialist with less than 5 years of experience can expect to earn an average total compensation of $35,000 based on 95 salaries provided by anonymous users. Average total compensation includes tips, bonus, and overtime pay. A Mortgage Loan Specialist with mid-career experience which includes employees with 5 to 10 years of experience can expect to earn an average total compensation of $41,000 based on 61 salaries. An experienced Mortgage Loan Specialist which includes employees with 10 to 20 years of experience can expect to earn an average total compensation of $45,000 based on 47 salaries. A Mortgage Loan Specialist with late-career experience which includes employees with greater than 20 years of experience can expect to earn an average total compensation of $42,000 based on 13 salaries.

Pay Difference by Location

-1%

National Average: $39,689

Larger city markers indicate a job is popular in that location.

For Mortgage Loan Specialists, busy Tampa offers a higher-than-average pay rate, 6 percent above the national average. Richmond is home to the smallest salaries in the field, lagging the national average by 16 percent. A couple other locations with smaller-than-average paychecks include Jacksonville (12 percent lower) and Charlotte (7 percent lower).

Mortgage Loan Specialist Reviews

Q: What is it like working as a Mortgage Loan Specialist?

Mortgage Loan Specialist in Plano:
"Casual and team work environment."
Pros: Location.
Cons: Very numbers oriented, stressful.

Related Job Salaries

Key Stats for Mortgage Loan Specialist

Gender

Female
62 %
Male
38 %

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 51 votes.
Less than 1 year
4%
1-4 years
38%
5-9 years
26%
10-19 years
23%
20 years or more
9%

Experience Affects Mortgage Loan Specialist Salaries

Experienced
▲13%

Late-Career
▲5%

▲2%

National Average
$40,000

▼13%

Skills That Affect Mortgage Loan Specialist Salaries


National Average
$40,000

Loan Documents
▼5%

Loan Processing
▼16%

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 51 votes.

Gender

Female
62 %
Male
38 %

Years of Experience

Less than 1 year
4%
1-4 years
38%
5-9 years
26%
10-19 years
23%
20 years or more
9%

Common Health Benefits

medical benefits
Medical: 83%
dental benefits
Dental: 72%
vision benefits
Vision: 66%
no benefits
None: 16%