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Loan Underwriter Salary

  Annual Salary Monthly Pay Weekly Pay Hourly Wage
Top Earners $75,000 $6,250 $1,442 $36
75th Percentile $67,000 $5,583 $1,288 $32
Average $54,517 $4,543 $1,048 $26
25th Percentile $39,500 $3,291 $759 $19
$32,500 - $37,999
16% of jobs
$39,500 is the 25th percentile. Salaries below this are outliers.
$38,000 - $43,499
22% of jobs
$43,500 - $48,999
10% of jobs
$49,000 - $54,499
7% of jobs
The average salary is $54,517 a year
$54,500 - $59,999
7% of jobs
$60,000 - $65,499
9% of jobs
$67,000 is the 75th percentile. Salaries above this are outliers.
$65,500 - $70,999
11% of jobs
$75,000 is the 90th percentile. Salaries above this are outliers.
$71,000 - $76,499
8% of jobs
$76,500 - $81,999
3% of jobs
$82,000 - $87,499
0% of jobs
$87,500 - $93,000
1% of jobs

National Average

$32,500 $54,517/year $26/hour $93,000
Loan Underwriter Salary Comparison by Location
United States
Chicago, IL

As of Nov 23, 2020, the average annual pay for a Loan Underwriter in the United States is $54,517 a year.

Just in case you need a simple salary calculator, that works out to be approximately $26.21 an hour. This is the equivalent of $1,048/week or $4,543/month.

While ZipRecruiter is seeing annual salaries as high as $93,000 and as low as $32,500, the majority of Loan Underwriter salaries currently range between $39,500 (25th percentile) to $67,000 (75th percentile) with top earners (90th percentile) making $75,000 annually across the United States. The average pay range for a Loan Underwriter varies greatly (by as much as $27,500), which suggests there may be many opportunities for advancement and increased pay based on skill level, location and years of experience.

Based on recent job postings on ZipRecruiter, the Loan Underwriter job market in both Chicago, IL and the surrounding area is very active. A Loan Underwriter in your area makes on average $55,808 per year, or $1,291 (2%) more than the national average annual salary of $54,517. ranks number 1 out of 50 states nationwide for Loan Underwriter salaries.

To estimate the most accurate annual salary range for Loan Underwriter jobs, ZipRecruiter continuously scans its database of millions of active jobs published locally throughout America.

Find your next high paying job as a Loan Underwriter on ZipRecruiter today.

Top 10 Highest Paying Cities for Loan Underwriter Jobs

We’ve identified 10 cities where the typical salary for a Loan Underwriter job is above the national average. Topping the list is Richmond, CA, with Stamford, CT and Bellevue, WA close behind in the second and third positions. Bellevue, WA beats the national average by $10,292 (17.3%), and Richmond, CA furthers that trend with another $12,189 (20.1%) above the $54,517 average.

Importantly, Richmond, CA has a moderately active Loan Underwriter job market with only a few companies currently hiring for this type of role.

With these 10 cities having average salaries higher than the national average, the opportunities for economic advancement by changing locations as a Loan Underwriter appears to be exceedingly fruitful.

Finally, another factor to consider is the average salary for these top ten cities varies very little at 9% between Richmond, CA and Glendale, CA, reinforcing the limited potential for much wage advancement. The possibility of a lower cost of living may be the best factor to use when considering location and salary for a Loan Underwriter role.

CityAnnual SalaryMonthly PayWeekly PayHourly Wage
Richmond, CA$66,706$5,559$1,283$32.07
Stamford, CT$64,955$5,413$1,249$31.23
Bellevue, WA$64,809$5,401$1,246$31.16
Lakes, AK$62,535$5,211$1,203$30.07
San Francisco, CA$62,520$5,210$1,202$30.06
Palmdale, CA$61,847$5,154$1,189$29.73
Santa Clara, CA$61,613$5,134$1,185$29.62
Hartford, CT$61,492$5,124$1,183$29.56
Pasadena, CA$61,267$5,106$1,178$29.46
Glendale, CA$60,907$5,076$1,171$29.28

Top 5 Best Paying Related Loan Underwriter Jobs in the U.S.

We found at least five jobs related to the Loan Underwriter job category that pay more per year than a typical Loan Underwriter salary. Top examples of these roles include: Senior Loan Officer, Loan Broker, and Senior Commercial Underwriter.

Importantly, all of these jobs are paid between $33,065 (46.5%) and $54,428 (66.6%) more than the average Loan Underwriter salary of $54,517. If you’re qualified, getting hired for one of these related Loan Underwriter jobs may help you make more money than that of the average Loan Underwriter position.

Job TitleAnnual SalaryMonthly PayWeekly PayHourly Wage
Senior Loan Officer$108,945$9,079$2,095$52.38
Loan Broker$108,467$9,039$2,086$52.15
Senior Commercial Underwriter$97,500$8,125$1,875$46.88
Loan Review Manager$93,999$7,833$1,808$45.19
Mortgage Due Diligence Underwriter$87,582$7,298$1,684$42.11
About Our Data
ZipRecruiter salary estimates, histograms, trends and comparisons are derived from both employer job postings and third party data sources.
Data used to develop this report includes ADP data. ADP is an exclusive provider of employee payroll data for ZipRecruiter.

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Loan Underwriter Salaries by State

Loan Underwriter Salaries by State
Nearby Loan Underwriter Jobs
Within 25 miles of Chicago, IL

*Salary estimates (ZipEstimate) are not verified by employers; actual compensation can vary considerably. To learn more about Compensation Estimates, please see our FAQ

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