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The differences between property underwriters and mortgage underwriters can be seen in a few details. Each job has different responsibilities and duties. Additionally, a property underwriter has an average salary of $71,730, which is higher than the $55,721 average annual salary of a mortgage underwriter.
The top three skills for a property underwriter include CPCU, underwriting guidelines and insurance coverage. The most important skills for a mortgage underwriter are customer service, work ethic, and FHA.
| Property Underwriter | Mortgage Underwriter | |
| Yearly salary | $71,730 | $55,721 |
| Hourly rate | $34.49 | $26.79 |
| Growth rate | -4% | 4% |
| Number of jobs | 11,643 | 9,260 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 75% | Bachelor's Degree, 65% |
| Average age | 44 | 45 |
| Years of experience | - | 6 |
Property Underwriters will require skills in underwriting guidelines, sales territories, CPCU, analysis, math, interpersonal communication, and a bachelor's degree in economics, business, accounting, finance, or mathematics for this career choice. Also, on-the-job training may be needed from senior underwriters and completion of certification programs. Paying an annual salary of $82K, those who choose this career will help determine coverage amounts and premiums on property. This may include houses, land, boats, cars, or other properties of sufficient value.
A mortgage underwriter is responsible for reviewing mortgage loan applications and deciding on its approval or rejection by evaluating the submitted documents and the applicant's eligibility. Mortgage underwriters create assessment reports, research on the applicant's credit score, analyze potential loan risk, and request for additional documentation as needed. A mortgage underwriter must have extensive knowledge of the loan disciplines and processes, including its legislative procedures and regulations, to provide accurate decisions or discuss necessary findings to the loan officer for advice.
Property underwriters and mortgage underwriters have different pay scales, as shown below.
| Property Underwriter | Mortgage Underwriter | |
| Average salary | $71,730 | $55,721 |
| Salary range | Between $45,000 And $111,000 | Between $38,000 And $80,000 |
| Highest paying City | Boston, MA | New York, NY |
| Highest paying state | Massachusetts | New Mexico |
| Best paying company | Chubb | CTBC Bank |
| Best paying industry | Finance | Professional |
There are a few differences between a property underwriter and a mortgage underwriter in terms of educational background:
| Property Underwriter | Mortgage Underwriter | |
| Most common degree | Bachelor's Degree, 75% | Bachelor's Degree, 65% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between property underwriters' and mortgage underwriters' demographics:
| Property Underwriter | Mortgage Underwriter | |
| Average age | 44 | 45 |
| Gender ratio | Male, 47.1% Female, 52.9% | Male, 39.3% Female, 60.7% |
| Race ratio | Black or African American, 9.7% Unknown, 2.5% Hispanic or Latino, 9.9% Asian, 5.7% White, 71.9% American Indian and Alaska Native, 0.4% | Black or African American, 9.2% Unknown, 4.6% Hispanic or Latino, 15.9% Asian, 6.4% White, 63.4% American Indian and Alaska Native, 0.5% |
| LGBT Percentage | 9% | 8% |