Well explore the specifics such as a mortgage loan originator salary which is higher later in this guide. Loan Officer Salaries.
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1171 Mortgage Loan Officer Salaries.
Mortgage loan officer salary. However a CNN Money report determines the average loan officer salary is 64660 with a large range between the high and low side. The average salary for a Mortgage Loan Officer is 42296 per year in United States. Salaries estimates are based on 2241 salaries submitted anonymously to Glassdoor by Mortgage Loan Officer employees in United States.
The base salary for Mortgage Loan Officer I ranges from 38676 to 57562 with the average base salary of 47312. While ZipRecruiter is seeing annual salaries as high as 181000 and as low as 16000 the majority of Mortgage Loan Officer salaries currently range between 35000 25th percentile to 100000 75th percentile with top earners 90th percentile making 120000 annually across the United States. The total cash compensation which includes base and annual incentives can vary anywhere from 60712 to 121701 with the average total cash compensation of 84926.
Loan Officers made a median salary of 63270 in 2019. Topping the list is Massachusetts with Hawaii and Connecticut close behind in second and third. 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 38043.
Your salary will depend on how many fee-based loans you close so youll have a high. The best-paid 25 percent made 92960 that year while the lowest-paid 25 percent made 44840. Mortgage Loan Officers earn 50000 annually on average or 24 per hour which is 28 less than the national average for all working AmericansOur data indicates that the best paid Mortgage Loan Officers work for Sage at 115000 annually while the lowest paid Mortgage Loan Officers work for Equity One earning approximately 23000 each year.
Mortgage loan officers need a mortgage. Keep in mind that salary ranges can vary widely depending on many important factors including position education certifications additional skills and the number of years you have spent in your profession. 51 rows Weve identified ten states where the typical salary for a Mortgage Loan Officer job is above the national average.
The jobs requiring this skill have decrease by 1546 since 2018. Salary ranges can vary widely depending on the city and many other important factors including education certifications additional skills the number of years you have spent in your profession. The best-paid 25 percent made 92960 that year while the lowest-paid 25 percent made 44840.
Loan Officers made a median salary of 63270 in 2019. The average yearly salary for a loan officer in 2021 was 174817 per year according to the jobs website Indeed. Salary estimates are based on 2219 salaries submitted anonymously to Glassdoor by Mortgage Loan Officer employees.
The average Mortgage Loan Officer I salary in Indiana is 43386 as of May 27 2021 but the range typically falls between 35467 and 52786. Loan Officers with this skill earn 1060 more than the average base salary which is 173194 per year. Connecticut beats the national average by 63 and Massachusetts furthers that trend with another 5884 80 above the 73756.
The national average salary for a Mortgage Loan Officer is 42284 in United States. Per year The average salary for a loan officer is 181988 per year in the United States and 24000 commission per year. Filter by location to see Mortgage Loan Officer salaries in your area.
The lowest-earning officers make 42488 while the highest earn more than 89000. That works out to an hourly wage of. The median income for a loan officer in the United States was 63650 in 2016 according to the Bureau of Labor Statistics BLS.
The range for our most popular Mortgage Loan Officer positions listed below typically falls between 30782 and 161113. According to Monster data the median mortgage loan officer salary is 66325 per year. According to Indeed the average loan officer salary is 74150 with 38300 of this in the form of commissions.
The median mortgage loan officer salary is somewhere around 40000 a year which is a modest amount but there are very significant fluctuations in salary. 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020. Loan officer salaries vary by career path but hard work is typically rewarded.
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