How Much Do Loan Officers & Originators Make?

When considering any career field, it’s understandable that one of your primary concerns would be salary and how lucrative a position is. Becoming a mortgage loan officer—also commonly referred to as a mortgage loan originator—can be an excellent career opportunity for a high-paying salary, especially if you plan to stick with it.

How much do mortgage loan officers make?

According to Indeed’s 2020 reported salaries, mortgage loan officers in the U.S. earn an average salary of $80,818 per year. That said, salaries can range significantly based on a variety of factors including the cost of living where you live and the amount of commission you earn. Keep in mind that the average isn’t the limit. Another important question to ask is “how much can mortgage loan officers make?”.

As with many other positions in the industry, there are opportunities for loan originators to make more than a base salary or wages. In this guide, we’ll answer “how much does a mortgage loan originator make?” as well as “how much can a mortgage loan officer make?” based on specific factors. Have another question? Use the links below to find the answer.

How Much Does a Mortgage Loan Processor Make?

Unlike how mortgage loan officers and originators are the same job with different titles, a mortgage loan processor is a completely separate position. While loan originators are the main point of contact for the borrower, the mortgage loan processor is the individual who collects all of the borrower’s financial data (bank statements, credit information, etc.) and verifies its validity.
According to Indeed’s salary data, mortgage loan processors earn an average of $57,741 per year.

How Much Do Senior Loan Officers Make?

Senior loan officers are more experienced and may produce more business volume. As such, they earn a higher compensation than those in lower-level positions. According to salaries reported to Indeed, senior loan officers make $129,330 per year. A small percentage of the top mortgage loan officers make seven figures.

How Much Do Mortgage Loan Officers Make Per Loan?

Although compensation can vary greatly, lenders who provide leads pay less but connect the mortgage to prospective customers while mortgage loan officers that develop and maintain referral relationships and cultivate their own leads can make just under or above 1% of the loan amount. Take a $400,000 mortgage loan and this can translate to $4,000.

What Factors Influence How Much Mortgage Loan Originators Make?


The real answer to “how much does a mortgage loan originator make?” depends on a variety of factors, including:

  • Commission: One of the most influential factors that determines how much you can make as a mortgage loan officer is commission. Commission is generally based on a percentage of the loan amount.
  • Region: As with any other job, mortgage loan originators may earn more based on the region they work in. This is because cost of living is a major factor in determining salaries across the U.S.
  • Training: There is also job-specific training that aspiring loan officers can complete to make themselves more competitive. This of course is above and beyond passing the SAFE MLO Test, which is required to get licensed—learn more about NMLS test difficulty and preparation.
  • Seniority level: As you move from junior mortgage loan officer to a senior mortgage loan officer, you can increase your compensation with additional business volume and sometimes additional responsibilities.
  • Employer: There is not a set compensation that mortgage loan originators must make, but companies typically look to one another to determine how much to pay their employees. In some cases, certain employers may offer higher pay in order to beat out their competition when it comes to bringing on top talent.

Build a Lucrative Career for Yourself by Becoming a Mortgage Loan Officer

Becoming a mortgage loan officer can offer you a rewarding career with plenty of room for growth and stable income. In addition to the generous compensation, you have the opportunity to advance your career over the years and gain additional earning opportunities. If you’re willing to put in the effort, your career as a mortgage loan officer can be highly lucrative.
Diehl Education is your top resource for becoming a mortgage loan officer and advancing your career. Our services are designed to help you with everything from preparing for your NMLS test and figuring out how to renew a license, to gaining new skills and knowledge that will help you move up in your position (and payscale).

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