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Consumer loan underwriter salary
Average consumer loan underwriter salary
$53,525
Average Consumer Loan Underwriter Salary
The average salary for a Consumer Loan Underwriter is approximately $53,525 per year. This figure reflects entry-level to experienced positions, considering various factors such as education and geographic location.
Salary by Experience Level
Entry-level underwriters can expect to earn less, while those with several years of experience may see salaries significantly higher, reaching up to $70,000 in some areas.
Regional Salary Variations
Geographical location plays a critical role in salary differences. States like California and New York typically offer the highest salaries for consumer loan underwriters due to their higher cost of living and demand for financial services. Other states may provide competitive salaries that align with local economic conditions.
Job Opportunities
With the growth of the financial services sector, opportunities for consumer loan underwriters are expanding. This field offers a stable career path with potential for advancement into management or specialized roles.
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Where can a Consumer Loan Underwriter earn more?
Consumer loan underwriter salaries by experience level
| Experience level | Avg. salary | Hourly rate |
|---|---|---|
| Entry-level consumer loan underwriter | $34,800 | $16.74 |
| Mid-level consumer loan underwriter | $57,300 | $27.54 |
| Senior-level consumer loan underwriter | $102,000 | $49.15 |
Consumer loan underwriter salary estimates from across the web
Average consumer loan underwriter salary by state
The average consumer loan underwriter salary in New York, New Mexico, and New Jersey are the highest in the U.S. The lowest average consumer loan underwriter salary states are Tennessee, Nevada, and Indiana.
- State view
- County view
Highest paying states for consumer loan underwriters
| Rank | State | Avg. salary | Hourly rate |
|---|---|---|---|
| 1 | Maine | $65,736 | $31.60 |
| 2 | South Dakota | $62,468 | $30.03 |
| 3 | Rhode Island | $63,298 | $30.43 |
| 4 | Wyoming | $56,216 | $27.03 |
| 5 | New York | $70,004 | $33.66 |
| 6 | New Jersey | $66,911 | $32.17 |
| 7 | Arkansas | $63,780 | $30.66 |
| 8 | New Mexico | $67,353 | $32.38 |
| 9 | Pennsylvania | $63,124 | $30.35 |
| 10 | Michigan | $56,905 | $27.36 |
| 11 | Minnesota | $57,448 | $27.62 |
| 12 | Vermont | $60,679 | $29.17 |
| 13 | North Carolina | $57,884 | $27.83 |
| 14 | California | $61,192 | $29.42 |
| 15 | Ohio | $54,520 | $26.21 |
| 16 | Washington | $57,638 | $27.71 |
| 17 | Montana | $54,188 | $26.05 |
| 18 | North Dakota | $51,909 | $24.96 |
| 19 | Florida | $52,509 | $25.24 |
| 20 | Connecticut | $59,119 | $28.42 |
| 21 | Oregon | $55,344 | $26.61 |
| 22 | District of Columbia | $63,453 | $30.51 |
| 23 | Colorado | $52,753 | $25.36 |
| 24 | West Virginia | $55,074 | $26.48 |
| 25 | Iowa | $50,718 | $24.38 |
| 26 | Maryland | $59,662 | $28.68 |
| 27 | New Hampshire | $57,055 | $27.43 |
| 28 | Kansas | $50,480 | $24.27 |
| 29 | Massachusetts | $56,766 | $27.29 |
| 30 | Hawaii | $52,100 | $25.05 |
| 31 | Kentucky | $50,783 | $24.41 |
| 32 | Arizona | $47,873 | $23.02 |
| 33 | Texas | $48,694 | $23.41 |
| 34 | Oklahoma | $52,336 | $25.16 |
| 35 | South Carolina | $50,185 | $24.13 |
| 36 | Nebraska | $51,585 | $24.80 |
| 37 | Delaware | $49,088 | $23.60 |
| 38 | Virginia | $53,936 | $25.93 |
| 39 | Missouri | $49,425 | $23.76 |
| 40 | Illinois | $47,905 | $23.03 |
| 41 | Wisconsin | $48,713 | $23.42 |
| 42 | Utah | $43,316 | $20.82 |
| 43 | Georgia | $47,337 | $22.76 |
| 44 | Nevada | $45,342 | $21.80 |
| 45 | Alaska | $45,769 | $22.00 |
| 46 | Tennessee | $45,418 | $21.84 |
| 47 | Idaho | $46,002 | $22.12 |
| 48 | Louisiana | $47,513 | $22.84 |
| 49 | Alabama | $41,448 | $19.93 |
| 50 | Indiana | $43,721 | $21.02 |
| 51 | Mississippi | $40,620 | $19.53 |
Highest paying cities for consumer loan underwriters
The highest-paying cities for consumer loan underwriters are New York, NY, Mount Laurel, NJ, and Lewiston, ME.
| Rank | City | Avg. salary | Hourly rate |
|---|---|---|---|
| 1 | New York, NY | $70,149 | $33.73 |
| 2 | Mount Laurel, NJ | $66,950 | $32.19 |
| 3 | Lewiston, ME | $65,430 | $31.46 |
| 4 | Santa Rosa, CA | $65,062 | $31.28 |
| 5 | Philadelphia, PA | $63,418 | $30.49 |
| 6 | Baltimore, MD | $59,800 | $28.75 |
| 7 | Raleigh, NC | $59,397 | $28.56 |
| 8 | Southington, CT | $59,033 | $28.38 |
| 9 | Olympia, WA | $58,747 | $28.24 |
| 10 | Minneapolis, MN | $57,428 | $27.61 |
| 11 | Hillsboro, OR | $55,065 | $26.47 |
| 12 | Helena, MT | $54,255 | $26.08 |
| 13 | Pensacola, FL | $53,848 | $25.89 |
| 14 | Englewood, CO | $52,801 | $25.39 |
| 15 | Omaha, NE | $51,561 | $24.79 |
| 16 | Des Moines, IA | $50,453 | $24.26 |
| 17 | Springfield, MO | $49,633 | $23.86 |
| 18 | Austin, TX | $48,776 | $23.45 |
| 19 | Phoenix, AZ | $48,049 | $23.10 |
| 20 | Lombard, IL | $47,925 | $23.04 |
Consumer loan underwriter salary details
A consumer loan underwriter's salary ranges from $37,000 a year at the 10th percentile to $76,000 at the 90th percentile.
What is a consumer loan underwriter's salary?
| Percentile | Annual salary | Monthly salary | Hourly rate |
|---|---|---|---|
| 90th Percentile | $76,000 | $6,333 | $37 |
| 75th Percentile | $64,000 | $5,333 | $31 |
| Average | $53,525 | $4,460 | $26 |
| 25th Percentile | $44,000 | $3,667 | $21 |
| 10th Percentile | $37,000 | $3,083 | $18 |
Highest paying consumer loan underwriter jobs
The highest paying types of consumer loan underwriters are credit officer, senior credit analyst, and bank officer.
| Job title | Annual salary | Monthly salary | Hourly rate | Job openings |
|---|---|---|---|---|
| Credit Officer | $129,478 | $10,790 | $62.25 | 60,323 |
| Escrow Officer | $50,270 | $4,189 | $24.17 | 62,077 |
| Bank Officer | $79,562 | $6,630 | $38.25 | 69,880 |
| Mortgage Banker | $27,331 | $2,278 | $13.14 | 24,297 |
| Closer | $29,291 | $2,441 | $14.08 | 7,560 |
| Mortgage Consultant | $38,934 | $3,245 | $18.72 | 24,057 |
Top companies hiring consumer loan underwriters now:
Which companies pay consumer loan underwriters the most?
Consumer loan underwriter salaries at Marcus & Millichap and Coasthills Credit Union are the highest-paying according to our most recent salary estimates. In addition, the average consumer loan underwriter salary at companies like Freedom Financial Network and Justice Federal Credit Union are highly competitive.
| Rank | Company | Average salary | Hourly rate |
|---|---|---|---|
| 1 | Marcus & Millichap | $89,350 | $42.96 |
| 2 | Coasthills Credit Union | $59,235 | $28.48 |
| 3 | Freedom Financial Network | $58,139 | $27.95 |
| 4 | Justice Federal Credit Union | $56,611 | $27.22 |
| 5 | Management Recruiters International(MRI) | $56,467 | $27.15 |
| 6 | International Business-Government Counsellors | $56,356 | $27.09 |
| 7 | Financial Partners Credit Union | $55,771 | $26.81 |
| 8 | Robert Half | $54,760 | $26.33 |
| 9 | Grandbridge Real Estate Capital | $54,134 | $26.03 |
| 10 | Asian Americans for Equality | $53,792 | $25.86 |
| 11 | Bank of America | $53,574 | $25.76 |
| 12 | National Mortgage, Inc. | $53,324 | $25.64 |
| 13 | Randstad North America, Inc. | $53,000 | $25.48 |
| 14 | Aerotek | $52,932 | $25.45 |
| 15 | Wells Fargo | $52,750 | $25.36 |
| 16 | Idaho Central Credit Union | $52,193 | $25.09 |
| 17 | WSFS Bank | $52,120 | $25.06 |
| 18 | Luther Burbank Savings | $51,862 | $24.93 |
| 19 | Oak Valley Ban | $51,817 | $24.91 |
| 20 | Great Southern Bank | $51,649 | $24.83 |
Wage gap by gender, race and education
Consumer loan underwriter salary trends
The average consumer loan underwriter salary has risen by $4,962 over the last ten years. In 2014, the average consumer loan underwriter earned $48,563 annually, but today, they earn $53,525 a year. That works out to a 0% change in pay for consumer loan underwriters over the last decade.
Compare consumer loan underwriter salaries for cities or states with the national average over time.
Average consumer loan underwriter salary over time
Compare consumer loan underwriter salaries for individual cities or states with the national average.
Consumer loan underwriter salary by year
| Year | Avg. salary | Hourly rate | % Change |
|---|---|---|---|
| 2025 | $53,500 | $25.73 | +1.1% |
| 2024 | $52,900 | $25.46 | +0.4% |
| 2023 | $52,800 | $25.36 | -2.6% |
| 2022 | $54,100 | $26.02 | +1.6% |
| 2021 | $53,300 | $25.61 | +0.3% |
Recently added consumer loan underwriter salaries
| Company | Job | Location | Date added | Salary |
|---|---|---|---|---|
| Guild Mortgage | Underwriter III, Specialty Loans | California City, CA | 06/21/2025 | $125,000 |
| Atlanta Postal Credit Union | Consumer Loan Underwriter I | Hapeville, GA | 06/21/2025 | $42,930 |
| Guild Holdings Company | Underwriter III, Specialty Loans | California City, CA | 06/19/2025 | $125,000 |
| Fulton Financial Corporation | Business Loan Center Underwriter | Bridgewater, NJ | 06/12/2025 | $86,400 |
| Global Channel Management, Inc. | Consumer Loan Underwriting | Baltimore, MD | 06/10/2025 | $58,436 |
| Dow Credit Union | Consumer Loan Underwriter | Midland, MI | 05/19/2025 | $58,436 |
| HAPO Community Credit Union | Consumer Lending Underwriter | Kennewick, WA | 05/16/2025 | $50,997 |
| Redwood Credit Union | Consumer Loan Funder I | Santa Rosa, CA | 05/16/2025 | $48,001 |
| SCCU Career | Consumer Underwriter I | Melbourne, FL | 05/08/2025 | $55,452 |
| Space Coast Credit Union | Consumer Underwriter I | Miramar, FL | 05/07/2025 | $55,452 |
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