How much do mortgage underwriters make?

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Mortgage underwriters play a crucial role in the home loan process, assessing borrowers’ financial backgrounds and determining their eligibility for a mortgage. As such, many individuals considering a career in mortgage underwriting may wonder about the potential earning potential in this field. In this article, we will delve into the topic of how much mortgage underwriters make, exploring the factors that influence their salaries and providing a comprehensive overview of the earning potential in this profession.

Factors Influencing Mortgage Underwriters’ Salaries

Several factors contribute to the salary range of mortgage underwriters. These factors include experience, education, location, and the type of employer.

Experience: As with many professions, experience plays a significant role in determining salary levels. Entry-level mortgage underwriters typically earn less than their more experienced counterparts. As underwriters gain expertise and demonstrate their ability to make sound judgments, their earning potential tends to increase.

Education: While a college degree is not always a requirement for becoming a mortgage underwriter, having a relevant educational background can positively impact salary potential. Individuals with degrees in finance, economics, or a related field may have an advantage in securing higher-paying positions.

Location: Geographic location can significantly influence salary levels for mortgage underwriters. Areas with a higher cost of living or a strong demand for underwriters may offer higher salaries to attract and retain talent. Metropolitan areas, where the housing market is typically more active, tend to have higher earning potential for mortgage underwriters.

Type of Employer: The type of employer can also impact salary ranges for mortgage underwriters. Underwriters working for large financial institutions or mortgage companies may receive more competitive compensation packages compared to those employed by smaller firms or credit unions.

Salary Range

The salary range for mortgage underwriters can vary depending on the factors mentioned above. According to the U.S. Bureau of Labor Statistics (BLS), as of May 2020, the median annual wage for loan officers, which includes mortgage underwriters, was $63,270. The lowest 10% earned less than $32,820, while the highest 10% earned more than $132,180.

It is important to note that these figures represent a general overview and may not reflect the specific salary range for mortgage underwriters. Additionally, the BLS data includes loan officers who may not solely focus on mortgage underwriting.

Additional Compensation

In addition to base salaries, mortgage underwriters may also receive additional compensation in the form of bonuses or commissions. These incentives are often tied to individual or company performance and can significantly enhance overall earnings.


Mortgage underwriters play a vital role in the home loan process, and their salaries can vary based on factors such as experience, education, location, and the type of employer. While the median annual wage for loan officers, including mortgage underwriters, was $63,270 according to the BLS, it is important to consider that specific salary ranges may differ. Moreover, additional compensation such as bonuses or commissions can further contribute to a mortgage underwriter’s overall earnings.


– Bureau of Labor Statistics: