As a mortgage loan officer right here in Cedar Rapids, IA, I've been helping home-buyers just like you secure and refinance mortgages since 2000. James Erickson.. I'm proud to work for a reputable bank like U.S. Bank, and you can trust me to do what's right for you. So give me a call at 319.368.4283. Start an application today. While some mortgage loan officers do earn six-figure salaries, most are mid-five-figure folks. The US Bureau of Labor Statistics reports the median salary for a loan officer was $51,760 in 2006, with the middle 50 percent earning between $37,590 and $73,630.
As of Oct 12, 2020, the average annual pay for a Mortgage Loan Officer in the United States is $73,756 a year. While ZipRecruiter is seeing annual salaries as high as $181,000 and as low as $16,000, the majority of Mortgage Loan Officer salaries currently range between $35,000 (25th percentile) to $100,000 (75th percentile) across the United States.
Mortgage loan officer us bank salary. Mortgage Loan Officer with the Private Client Group in Consumer Banking Plymouth, Minnesota Tenure with U.S. Bank: 3 years Tenure as a Mortgage Loan Officer: 10 years Something most people don’t know about your job: – “Most people don't know that we work on straight commission and have no guaranteed salary. If we don't produce, we don't The national average salary for a Mortgage Loan Officer is $40,569 in United States. Filter by location to see Mortgage Loan Officer salaries in your area. Salary estimates are based on 1,324 salaries submitted anonymously to Glassdoor by Mortgage Loan Officer employees. Loan officers in the United States make an average salary of $42,678 per year or $20.52 per hour. People on the lower end of that spectrum, the bottom 10% to be exact, make roughly $26,000 a year, while the top 10% makes $69,000. As most things go, location can be critical.
How Mortgage Loan Officers Get Paid . Loan officers get paid in a way that they call "on the front" and/or "on the back." If a loan officer makes money on the front, that means they are charging. The average Mortgage Loan Originator salary in North Carolina is $75,247 as of August 27, 2020, but the range typically falls between $70,274 and $83,030. Salary ranges can vary widely depending on the city and many other important factors, including education, certifications, additional skills, the number of years you have spent in your. Loan Officers made a median salary of $63,040 in 2018. The best-paid 25 percent made $92,240 that year, while the lowest-paid 25 percent made $44,500. See Full Salary Details »
Average Bank of England Mortgage Loan Officer yearly pay in the United States is approximately $117,146, which is 11% above the national average. Salary information comes from 19 data points collected directly from employees, users, and past and present job advertisements on Indeed in the past 36 months. Education: You must generally have a bachelor's degree in finance, economics, or a related field to work as a loan officer. Licensure: There are currently no specific licensing requirements for loan officers working in banks or credit unions, but licensing requirements for loan officers who work in mortgage banks or brokerages can vary by state.They must generally have a Mortgage Loan. The median income for a loan officer in the United States was $63,650 in 2016, according to the Bureau of Labor Statistics (BLS). That works out to an hourly wage of $30.60 per hour, which isn’t terrible by any stretch.
In other words, a mortgage broker is a type of mortgage business, while a loan officer is a salesperson paid to give you the information needed to choose a mortgage that fits your needs. However, a loan officer is also licensed as a mortgage loan originator (MLO), which means they may also work for a mortgage broker, Andrews said. 1,166 Mortgage Loan Officer Salaries. Mortgage Loan Officers earn $50,000 annually on average, or $24 per hour, which is 28% less than the national average for all working Americans.Our data indicates that the best paid Mortgage Loan Officers work for Sage at $115,000 annually while the lowest paid Mortgage Loan Officers work for Equity One earning approximately $23,000 each year. The typical U.S. Bank Mortgage Loan Officer salary is $40,988. Mortgage Loan Officer salaries at U.S. Bank can range from $23,157 – $192,264. This estimate is based upon 11 U.S. Bank Mortgage Loan Officer salary report(s) provided by employees or estimated based upon statistical methods.
Loan Officers made a median salary of $63,040 in 2018. The best-paid 25 percent made $92,240 that year, while the lowest-paid 25 percent made $44,500. The average salary for Loan Officer at companies like Bank Of America in the United States is $101,326 as of September 25, 2020, but the range typically falls between $88,331 and $110,519. Salary ranges can vary widely depending on many important factors, including education, certifications, additional skills, the number of years you have spent. The average salary for a Mortgage Loan Officer is $48,700. Visit PayScale to research mortgage loan officer salaries by city, experience, skill, employer and more.
As of Oct 8, 2020, the average annual pay for a Mortgage Loan Originator in the United States is $74,838 a year. While ZipRecruiter is seeing annual salaries as high as $202,500 and as low as $15,500, the majority of Mortgage Loan Originator salaries currently range between $30,000 (25th percentile) to $100,000 (75th percentile) across the United States. A consumer loan officer is most likely to work set hours from a fixed location, such as a bank branch or office. A commercial or mortgage loan officer often has to work variable hours to confer with clients at the latter's places of work or residence, and thus spend significant time out of the office and on the road. A Bank of America Mortgage Loan Officer annual salary is about $0, based on salary and pay scale data from 0 real Bank of America employees.
Average U.S. Bank Loan Officer yearly pay in the United States is approximately $48,938, which is 60% below the national average. Salary information comes from 28 data points collected directly from employees, users, and past and present job advertisements on Indeed in the past 36 months. A loan officer is a representative of a bank, credit union, or other financial institution who finds and assists borrowers in acquiring loans. Loan officers can work with a wide variety of lending. The average salary for a Loan Officer at Chase Bank is $55,000. Visit PayScale to research loan officer salaries by city, experience, skill, employer and more.
Mortgage Loan Officer responsibilities include: Analyzing complex financial data; Resolving problems throughout application processes; Building positive relationships with clients; Mortgage loan officer job requirements and responsibilities may vary with different employers. When crafting your own mortgage loan officer job description, be sure.