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Mortgage loan specialist salary
Average mortgage loan specialist salary
$41,186
Understanding the Mortgage Loan Specialist Salary
A Mortgage Loan Specialist plays a pivotal role in helping clients navigate the complexities of obtaining a mortgage. As of October 2025, the average salary stands at $41,186 per year, translating to approximately $20 per hour. However, salaries can vary based on several factors, including experience level, location, and specific employer.
For instance, those with several years of experience may earn significantly more, while entry-level positions typically start lower. In terms of geographic differences, states like California and New York tend to offer higher salaries compared to others. By analyzing salary estimates across various regions, individuals can better understand their earning potential.
Career Advancement Opportunities
In addition to salary, many mortgage loan specialists have the opportunity to increase their earnings through commissions and bonuses based on performance. Specializing in certain mortgage products or obtaining additional certifications can also enhance one’s marketability and salary prospects. Pursuing further education or training in finance can lead to higher-paying roles within the industry.
Overall, the mortgage loan specialist career path offers a solid foundation for those interested in the financial sector, with numerous avenues for growth and advancement.
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Where can a Mortgage Loan Specialist earn more?
Mortgage loan specialist salaries by experience level
Mortgage loan specialist salary estimates from across the web
Average mortgage loan specialist salary by state
The average mortgage loan specialist salary in West Virginia, New York, and New Jersey are the highest in the U.S. The lowest average mortgage loan specialist salary states are Alaska, Utah, and South Dakota.
- State view
- County view
Highest paying states for mortgage loan specialists
| Rank | State | Avg. salary | Hourly rate |
|---|---|---|---|
| 1 | North Carolina | $59,944 | $28.82 |
| 2 | Delaware | $57,733 | $27.76 |
| 3 | West Virginia | $67,965 | $32.68 |
| 4 | New York | $61,372 | $29.51 |
| 5 | New Jersey | $60,338 | $29.01 |
| 6 | Kentucky | $57,745 | $27.76 |
| 7 | Maryland | $58,712 | $28.23 |
| 8 | Texas | $52,049 | $25.02 |
| 9 | Indiana | $50,697 | $24.37 |
| 10 | Alabama | $50,617 | $24.34 |
| 11 | Virginia | $56,981 | $27.39 |
| 12 | Rhode Island | $48,178 | $23.16 |
| 13 | South Carolina | $52,567 | $25.27 |
| 14 | Arkansas | $51,260 | $24.64 |
| 15 | Illinois | $50,416 | $24.24 |
| 16 | Georgia | $52,751 | $25.36 |
| 17 | Ohio | $46,488 | $22.35 |
| 18 | California | $57,255 | $27.53 |
| 19 | Florida | $48,620 | $23.38 |
| 20 | Pennsylvania | $49,381 | $23.74 |
| 21 | Arizona | $45,011 | $21.64 |
| 22 | Louisiana | $49,437 | $23.77 |
| 23 | Kansas | $46,094 | $22.16 |
| 24 | Hawaii | $43,805 | $21.06 |
| 25 | Colorado | $46,021 | $22.13 |
| 26 | Tennessee | $45,646 | $21.95 |
| 27 | Massachusetts | $50,442 | $24.25 |
| 28 | Iowa | $42,157 | $20.27 |
| 29 | Michigan | $43,023 | $20.68 |
| 30 | North Dakota | $37,207 | $17.89 |
| 31 | Nevada | $41,517 | $19.96 |
| 32 | Wisconsin | $45,112 | $21.69 |
| 33 | Connecticut | $49,932 | $24.01 |
| 34 | Mississippi | $44,540 | $21.41 |
| 35 | Alaska | $36,114 | $17.36 |
| 36 | Minnesota | $38,676 | $18.59 |
| 37 | Wyoming | $36,289 | $17.45 |
| 38 | Oregon | $40,536 | $19.49 |
| 39 | South Dakota | $35,667 | $17.15 |
| 40 | Washington | $40,633 | $19.54 |
| 41 | Oklahoma | $44,094 | $21.20 |
| 42 | Nebraska | $36,573 | $17.58 |
| 43 | Vermont | $39,435 | $18.96 |
| 44 | Montana | $34,552 | $16.61 |
| 45 | New Mexico | $42,292 | $20.33 |
| 46 | New Hampshire | $41,136 | $19.78 |
| 47 | Idaho | $33,885 | $16.29 |
| 48 | District of Columbia | $46,112 | $22.17 |
| 49 | Utah | $35,892 | $17.26 |
| 50 | Missouri | $36,607 | $17.60 |
| 51 | Maine | $35,113 | $16.88 |
Highest paying cities for mortgage loan specialists
The highest-paying cities for mortgage loan specialists are Uniondale, NY, Bergenfield, NJ, and Bakersfield, CA.
| Rank | City | Avg. salary | Hourly rate |
|---|---|---|---|
| 1 | Uniondale, NY | $62,050 | $29.83 |
| 2 | Bergenfield, NJ | $58,366 | $28.06 |
| 3 | Bakersfield, CA | $57,875 | $27.82 |
| 4 | Charlotte, NC | $57,580 | $27.68 |
| 5 | Owensboro, KY | $55,725 | $26.79 |
| 6 | The Woodlands, TX | $52,760 | $25.37 |
| 7 | Warwick, RI | $48,555 | $23.34 |
| 8 | Allentown, PA | $48,441 | $23.29 |
| 9 | Denver, CO | $45,870 | $22.05 |
| 10 | Phoenix, AZ | $45,032 | $21.65 |
| 11 | Memphis, TN | $43,608 | $20.97 |
| 12 | Troy, MI | $43,019 | $20.68 |
| 13 | Des Moines, IA | $41,734 | $20.06 |
| 14 | Saint Paul, MN | $38,775 | $18.64 |
| 15 | Guaynabo, PR | $37,772 | $18.16 |
| 16 | Columbia, MO | $36,664 | $17.63 |
Mortgage loan specialist salary details
A mortgage loan specialist's salary ranges from $27,000 a year at the 10th percentile to $62,000 at the 90th percentile.
What is a mortgage loan specialist's salary?
| Percentile | Annual salary | Monthly salary | Hourly rate |
|---|---|---|---|
| 90th Percentile | $62,000 | $5,167 | $30 |
| 75th Percentile | $51,000 | $4,250 | $25 |
| Average | $41,186 | $3,432 | $20 |
| 25th Percentile | $33,000 | $2,750 | $16 |
| 10th Percentile | $27,000 | $2,250 | $13 |
Highest paying mortgage loan specialist jobs
The highest paying types of mortgage loan specialists are loan servicing specialist, specialist, and loan officer.
| Job title | Annual salary | Monthly salary | Hourly rate | Job openings |
|---|---|---|---|---|
| Closer | $29,291 | $2,441 | $14.08 | 7,560 |
| Post Closer | $38,045 | $3,170 | $18.29 | 10,407 |
| Loan Officer | $45,817 | $3,818 | $22.03 | 63,663 |
| Loan Closer | $39,093 | $3,258 | $18.79 | 11,431 |
| Loan Services Representative | $38,603 | $3,217 | $18.56 | 85,475 |
| Loan Processor | $38,122 | $3,177 | $18.33 | 16,228 |
Top companies hiring mortgage loan specialists now:
Which companies pay mortgage loan specialists the most?
Mortgage loan specialist salaries at The PNC Financial Services Group and East West Bank are the highest-paying according to our most recent salary estimates. In addition, the average mortgage loan specialist salary at companies like Frost Bank and U.S. Bank are highly competitive.
| Rank | Company | Average salary | Hourly rate |
|---|---|---|---|
| 1 | The PNC Financial Services Group | $52,354 | $25.17 |
| 2 | East West Bank | $51,149 | $24.59 |
| 3 | Frost Bank | $49,027 | $23.57 |
| 4 | U.S. Bank | $45,566 | $21.91 |
| 5 | Nefcu | $42,547 | $20.46 |
| 6 | Bank of the West | $41,425 | $19.92 |
| 7 | Zions Ban | $41,382 | $19.90 |
| 8 | Tri Counties Bank | $41,330 | $19.87 |
| 9 | M/I Homes | $39,840 | $19.15 |
| 10 | Popular | $38,613 | $18.56 |
| 11 | Randstad North America, Inc. | $38,096 | $18.32 |
| 12 | Robert Half | $36,895 | $17.74 |
| 13 | Kelly Services | $35,931 | $17.27 |
| 14 | National Bank of Commerce | $35,666 | $17.15 |
| 15 | Habitat for Humanity | $32,244 | $15.50 |
Wage gap by gender, race and education
Mortgage loan specialist salary trends
The average mortgage loan specialist salary has risen by $6,521 over the last ten years. In 2014, the average mortgage loan specialist earned $34,665 annually, but today, they earn $41,186 a year. That works out to a 7% change in pay for mortgage loan specialists over the last decade.
Compare mortgage loan specialist salaries for cities or states with the national average over time.
Average mortgage loan specialist salary over time
Compare mortgage loan specialist salaries for individual cities or states with the national average.
Mortgage loan specialist salary by year
| Year | Avg. salary | Hourly rate | % Change |
|---|---|---|---|
| 2025 | $41,200 | $19.80 | +1.8% |
| 2024 | $40,500 | $19.45 | +1.8% |
| 2023 | $39,700 | $19.09 | +2.1% |
| 2022 | $38,900 | $18.70 | +1.1% |
| 2021 | $38,500 | $18.49 | +2.4% |
Recently added mortgage loan specialist salaries
| Company | Job | Location | Date added | Salary |
|---|---|---|---|---|
| Teksystems | Mortgage Loan Specialist-Entry & Intermediate Level Positions Available | Moorpark, CA | 06/28/2025 | $48,001 |
| Hanmi Bank | Mortgage Loan Funder | Great Neck, NY | 06/16/2025 | $44,000 |
| Us Bank | Mortgage Funding Professional | Owensboro, KY | 05/29/2025 | $70,890 |
| Hanmi Bank | Mortgage Loan Funder | Annandale, VA | 05/28/2025 | $44,000 |
| Wells Fargo | Home Builder Operations-Commercial Mortgage Loan Administration Specialist | Minneapolis, MN | 05/25/2025 | $55,300 |
| Wells Fargo | Home Builder Operations-Commercial Mortgage Loan Administration Specialist | Irving, TX | 05/25/2025 | $55,300 |
| Burke & Herbert Bank & Trust | Mortgage Loan Specialist | Salisbury, MD | 04/28/2025 | $40,133 |
| Teksystems | Mortgage Loan Specialist | Saint Louis, MO | 04/22/2025 | $48,001 |
| Burke & Herbert Bank & Trust | Mortgage Loan Specialist | Salisbury, MD | 03/28/2025 | $40,133 |
| Wells Fargo | Commercial Mortgage Loan Administration Specialist | Minneapolis, MN | 03/27/2025 | $55,300 |
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