How big is the mortgage loan officer average salary?


Current mortgage loan officer average salary is calculated to be around $65,000 on average. However, loan officer remuneration depends to a great extent on state, industry, employer's size, employee experience, track of successful history, etc. Also, mortgage loan officer average compensations for all levels seem to be one-third higher than the remuneration in other job occupations.

Different loan officer job related positions are paid with great variation. For example, positions of mortgage loan officer originator, loan officer assistant and junior loan officer can pay as low as $22,000, while a mortgage loan officer and a mortgage specialist can have an average salary of $150,000.

In general, mortgage loan officer salary depends on the loan officer experience and level of expertise. Loan officers are often required by their employers to attend specialized educational courses on ongoing basis.

The projected growth of mortgage loan officer jobs until 2014 is expected to be below the average. Even though the amount of loan applications is increasing on the whole, computerized underwriting has helped even reduce workload for mortgage loan officers and hence the expected below average mortgage loan officer jobs growth.

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