Q: Are underwriters paid well?

Yes, underwriters are paid well. In some industries, they can make six-figure salaries. The average underwriter's salary is $68,217 per year or $32.80 per hour. On the lower end of the salary range, people can make around $46,000, usually those in entry-level positions. On the higher end, underwriters can make $100,000 or more. As most jobs go, factors like industry, location, and experience can decide salary.

Q: Do mortgage underwriters make good money?

Yes, mortgage underwriters make good money. The average salary for mortgage underwriters is around $70,000 a year, but the actual amount a person will earn depends on their experience level.

Q: How much do loan underwriters make?

Loan underwriters can make about $32,500 to $93,000. However, the majority of loan underwriter salaries currently range between $39,500 and $67,000. While many factors affect earning potential for loan underwriters, location is a significant influence. Loan underwriters can make 16 percent more living in San Francisco, Santa Clara, and Washington D.C.

Q: Is mortgage underwriting a stressful job?

Yes, mortgage underwriting is a stressful job. This job can be stressful due to the many variables that influence the decision to be made. A mortgage underwriter considers layers of risk. They do not just look at the borrower profile in a vacuum, which can make the job stressful as they attempt to navigate the essential components of the borrower's credit profile in every unique scenario.

Question 1

How much does a mortgage underwriter make?

Accepted Answer

The average mortgage underwriter salary in the United States is $55,721. Mortgage underwriter salaries typically range between $38,000 and $80,000 yearly. The average hourly rate for mortgage underwriters is $26.79 per hour.

Mortgage underwriter salary is impacted by location, education, and experience. Mortgage underwriters earn the highest average salary in New Mexico.

Question 2

What state pays Mortgage Underwriters the most?

Accepted Answer

New Mexico pays Mortgage Underwriters the most in the United States, with an average salary of $72,889 per year, or $35.04 per hour.

Question 3

How do I know if I'm being paid fairly as a mortgage underwriter?

Accepted Answer

You know if you are being paid fairly as a mortgage underwriter if your pay is close to the average pay for the state you live in. For example, if you live in New Jersey you should be paid close to $69,535 per year.

Question 4

Are underwriters paid well?

Accepted Answer

Yes, underwriters are paid well. In some industries, they can make six-figure salaries.

The average underwriter's salary is $68,217 per year or $32.80 per hour. On the lower end of the salary range, people can make around $46,000, usually those in entry-level positions. On the higher end, underwriters can make $100,000 or more. As most jobs go, factors like industry, location, and experience can decide salary.

Question 5

Do mortgage underwriters make good money?

Accepted Answer

Yes, mortgage underwriters make good money. The average salary for mortgage underwriters is around $70,000 a year, but the actual amount a person will earn depends on their experience level.

Question 6

How much do loan underwriters make?

Accepted Answer

Loan underwriters can make about $32,500 to $93,000. However, the majority of loan underwriter salaries currently range between $39,500 and $67,000.

While many factors affect earning potential for loan underwriters, location is a significant influence. Loan underwriters can make 16 percent more living in San Francisco, Santa Clara, and Washington D.C.

Question 7

Is mortgage underwriting a stressful job?

Accepted Answer

Yes, mortgage underwriting is a stressful job. This job can be stressful due to the many variables that influence the decision to be made.

A mortgage underwriter considers layers of risk. They do not just look at the borrower profile in a vacuum, which can make the job stressful as they attempt to navigate the essential components of the borrower's credit profile in every unique scenario.

Question 8

What is the average salary of a mortgage underwriter?

Accepted Answer

The average salary of a mortgage underwriter is $68,519 per year or $32.94 per hour. On the lower end of the salary range, such as entry-level positions, some may only make about $46,000 a year. On the higher end, some can make an average of $100,000 a year.

Experience level	Avg. salary	Hourly rate
Entry-level mortgage underwriter	$36,200	$17.43
Mid-level mortgage underwriter	$59,600	$28.67
Senior-level mortgage underwriter	$106,000	$51.17

Rank	State	Avg. salary	Hourly rate
1	Rhode Island	$64,927	$31.21
2	South Dakota	$62,032	$29.82
3	New York	$68,784	$33.07
4	New Mexico	$72,889	$35.04
5	Michigan	$59,204	$28.46
6	Pennsylvania	$68,031	$32.71
7	Maine	$61,648	$29.64
8	New Jersey	$69,535	$33.43
9	Ohio	$59,220	$28.47
10	North Carolina	$61,323	$29.48
11	Texas	$61,073	$29.36
12	Arkansas	$67,566	$32.48
13	Oregon	$60,099	$28.89
14	Wyoming	$56,043	$26.94
15	California	$66,709	$32.07
16	West Virginia	$59,395	$28.56
17	Arizona	$55,353	$26.61
18	Maryland	$63,638	$30.60
19	Minnesota	$56,607	$27.21
20	Virginia	$61,888	$29.75
21	Vermont	$57,277	$27.54
22	Colorado	$56,208	$27.02
23	Illinois	$56,479	$27.15
24	Connecticut	$59,140	$28.43
25	Iowa	$54,465	$26.19
26	District of Columbia	$66,843	$32.14
27	Kentucky	$53,398	$25.67
28	Kansas	$52,621	$25.30
29	Oklahoma	$55,563	$26.71
30	Missouri	$55,146	$26.51
31	North Dakota	$50,572	$24.31
32	Nevada	$52,001	$25.00
33	Wisconsin	$53,696	$25.82
34	New Hampshire	$55,910	$26.88
35	Massachusetts	$56,982	$27.40
36	Montana	$52,653	$25.31
37	Delaware	$51,568	$24.79
38	Florida	$52,780	$25.38
39	South Carolina	$52,818	$25.39
40	Hawaii	$51,450	$24.74
41	Washington	$51,895	$24.95
42	Nebraska	$49,214	$23.66
43	Tennessee	$48,284	$23.21
44	Idaho	$45,714	$21.98
45	Utah	$42,453	$20.41
46	Louisiana	$50,316	$24.19
47	Georgia	$49,725	$23.91
48	Indiana	$46,442	$22.33
49	Alabama	$47,698	$22.93
50	Alaska	$41,892	$20.14
51	Mississippi	$43,009	$20.68

Rank	City	Avg. salary	Hourly rate
1	New York, NY	$69,161	$33.25
2	Philadelphia, PA	$68,484	$32.92
3	Los Angeles, CA	$65,543	$31.51
4	Baltimore, MD	$63,741	$30.64
5	Raleigh, NC	$62,909	$30.24
6	Eugene, OR	$62,017	$29.82
7	Richmond, VA	$61,738	$29.68
8	Cleveland, OH	$61,242	$29.44
9	Austin, TX	$61,030	$29.34
10	Detroit, MI	$59,805	$28.75
11	Chicago, IL	$56,916	$27.36
12	Boston, MA	$56,792	$27.30
13	Saint Paul, MN	$56,715	$27.27
14	Englewood, CO	$56,172	$27.01
15	Phoenix, AZ	$55,443	$26.66
16	Kansas City, MO	$54,670	$26.28
17	Des Moines, IA	$54,164	$26.04
18	Jacksonville, FL	$53,258	$25.60
19	Columbia, SC	$53,043	$25.50
20	Madison, WI	$52,671	$25.32

Percentile	Annual salary	Monthly salary	Hourly rate
90th Percentile	$80,000	$6,667	$38
75th Percentile	$67,000	$5,583	$32
Average	$55,721	$4,643	$27
25th Percentile	$45,000	$3,750	$22
10th Percentile	$38,000	$3,167	$18

Job title	Annual salary	Monthly salary	Hourly rate	Job openings
Loan Administrator	$42,859	$3,572	$20.61	63,708
Loan Originator	$41,291	$3,441	$19.85	10,716
Loan Analyst	$37,857	$3,155	$18.20	24,756
Closer	$29,291	$2,441	$14.08	7,560
Escrow Officer	$50,270	$4,189	$24.17	62,077
Bank Officer	$79,562	$6,630	$38.25	69,880

Mortgage underwriter salary

Average mortgage underwriter salary

$55,721

Understanding the Mortgage Underwriter Salary

Salary by State

Career Growth Opportunities

Where can a Mortgage Underwriter earn more?

Mortgage underwriter salaries by experience level