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As of Aug 1, 2019, the average annual pay for a Mortgage Loan Officer in the United States is $74,685 a year. While ZipRecruiter is seeing annual salaries as high as $180,500 and as low as $15,500, the majority of Mortgage Loan Officer salaries currently range between $34,500 (25th percentile) to $100,000 (75th percentile) across the United States.
Loan officers who seek certification must meet requirements for experience and education and pass a certification exam. How long does it take to become a loan officer? Some banks and mortgage companies require loan officers to hold a bachelor’s degree, so it can about four years to qualify for these jobs.
A Loan Officer is typically paid an average salary of around $64,500 annually. loan officers working for car dealerships make much more than this annual salary and loan officers working for other organizations. While entry-level salaries sit below the national average, they increase the more experience a loan officer gets.
The average yearly salary of a chief financial officer (CFO) can vary based on a number of factors, but the median compensation for a CFO in the U.S. as of April 2019 was $371,548 per year, according.
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Loan Officer vs. Loan Officer Assistant. When thinking about salary, it’s important to know what the expected job duties of the position are. For a loan officer assistant, most of their daily tasks involve making sure the loan officer, customer, and lender all have what they need for the loan to proceed.
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According to our 100% employer reported salary sources the median salary for a Mortgage Loan Officer I with No Diploma is $34,768 – $39,620. Please try our salary wizard to explore how other factors like location, Years of experience and number of direct reports can impact your base pay and bonus.
The median salary for a loan officer in 2016 was $63,650, according to the BLS. Top earners made a lucrative $132,290, while those in the bottom 10th percentile earned ,820. According to Donnelly, many loan officers receive their pay from commissions, so their earnings could fluctuate from year to year.
As of Aug 3, 2019, the average annual pay for a Mortgage Loan Officer Assistant in the United States is $36,347 a year. While ZipRecruiter is seeing annual salaries as high as $55,500 and as low as $22,500, the majority of Mortgage Loan Officer Assistant salaries currently range between $29,500 (25th percentile) to $44,000 (75th percentile) across the United States.