How Much Do Mortgage Loan Underwriters Make?
Having a clear understanding of earnings potential is important, especially if you are researching career paths or considering changing jobs. If you're one of those people, and you're curious what kind of salary mortgage loan underwriters make, you've come to the right place.
Using data from Lightcast,™ the Best Adult Colleges and Careers Guide has compiled rich information about salary for mortgage loan underwriters and related jobs, including details about average compensation, salary trends and job growth. We've also gathered advertised salaries from actual job postings to provide insight into what employers of mortgage loan underwriters are offering as compensation.
Keep reading to learn more about how much mortgage loan underwriters can expect to make in the United States.
At a Glance: Salary & Jobs for Mortgage Loan Underwriters
According to data from 2023, there were about 321,457 positions for mortgage loan underwriters in the United States. In terms of salary, the national median salary for mortgage loan underwriters was reported to be $69,992. Additionally, when examining job demand, employers across the country posted 60,182 job postings related to positions for mortgage loan underwriters.
How Much Money Do Mortgage Loan Underwriters Make?
Median salary is just one data point. To build a better understanding of how much money mortgage loan underwriters and related positions can expect to make in the United States, it can be helpful to look at the full range of compensation for those jobs.
Let's look more deeply at data that was reported to the U.S. Bureau of Labor Statistics (BLS) for detail into the lowest and highest salary earnings for mortgage loan underwriters.
Annual Salary for Mortgage Loan Underwriters
According to the BLS, the lowest earners for mortgage loan underwriters and related professions earned about $37,024 per year in 2023. Meanwhile, at the other end of the spectrum, the highest earners made about $139,464 annually.
As mentioned previously, the median salary for mortgage loan underwriters in the United States in 2023 was $69,992.
Annual Salary Range For Mortgage Loan Underwriters In 2023
Hourly Salary for Mortgage Loan Underwriters
The BLS also breaks down compensation for mortgage loan underwriters by hourly salary, and the median average hourly pay for mortgage loan underwriters in 2023 was $34. Lowest hourly earners took home $18 while the highest reported hourly salaries for mortgage loan underwriters was $67.
Hourly Salary Range For Mortgage Loan Underwriters In 2023
Advertised Compensation for Mortgage Loan Underwriters
Data from the BLS is one way to dig into compensation for mortgage loan underwriters, but another way to build a more real-time understanding of salary is to look at actual job postings and see what compensation organizations are currently providing to fill open positions for mortgage loan underwriters.
Keep in mind that salary data is not included in every job posting, so the information compiled here is reflective of the data available through Lightcast.™
Annual Salary from Job Postings for Mortgage Loan Underwriters
Advertised Annual Salary
During a review of 53,296 job postings related to mortgage loan underwriters, advertised salary was included in 19,516 of them, which was 37%. Based on those postings, the median advertised salary for mortgage loan underwriters was $65,408 per year.
Hourly Salary from Job Postings for Mortgage Loan Underwriters
Advertised Hourly Salary
A similar analysis of job postings provides insight into advertised hourly salary for mortgage loan underwriters. Based on 32% of postings with advertised compensation, the median hourly salary for open positions for mortgage loan underwriters in the United States is about $31.
Salary Trend for Mortgage Loan Underwriters
If you're thinking about pursuing a career in the field, you may want to understand how compensation has changed over time for mortgage loan underwriters. The chart below provides a snapshot of advertised salaries over the past three years.
Based on compensation data that was included in job postings for mortgage loan underwriters dating back to September 2020, advertised salaries for mortgage loan underwriters have decreased 35%.
Advertised Wage Trend For Mortgage Loan Underwriters
What's the Job Growth for Mortgage Loan Underwriters?
Another data point that someone thinking about a career path should consider is whether or not jobs are expected to see growth in the future. The chart below looks at projected employment for mortgage loan underwriters over the next 10 years.
According to the data obtained through Lightcast,™ there were 321,905 jobs for mortgage loan underwriters in the United States in 2023. By 2033, it is expected that about 17,193 jobs will be added. That's a 5.3% increase over the next 10-year period.
Employment Projections For Mortgage Loan Underwriters
Additional Links
Ready to dig deeper into career information about mortgage loan underwriters? Visit our other pages focused on salary and education for mortgage loan underwriters.
What do mortgage loan underwriters do?
Mortgage Loan Underwriters: How do you become one?
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