Mortgage Underwriter Salary 2022| How Much Does Make?

A mortgage underwriter, also known as a loan underwriter, decides whether to approve an application for a mortgage loan. They review different factors that may affect applicants’ ability to repay loans, then approve or decline applications.

If you are in this position, how much would be an ideal salary for you? Don’t sweat it! This article contains detailed information on mortgage underwriter salary and every other thing you need to know about a loan underwriter’s compensation.

What Does A Mortgage Underwriter Do?

When your future home undergoes an inspection, a mortgage underwriter takes a look at your finances and assesses how much of a risk a lender will take on if they decide to give you a loan.

The underwriter helps the mortgage lender decide whether or not you’ll get approval on your loan and will work with you to make sure that you submit all your paperwork. Ultimately, the underwriter will ensure that you don’t close on a mortgage that you can’t afford. If you don’t qualify, the mortgage underwriter will speedily deny your loan.

Mortgage Underwriter Salary

According to Glassdoor, the estimated total pay for a Mortgage Underwriter is $82,822 per year in the United States area, with an average salary of $70,631 per year.

A report from Indeed, states that the average base salary of mortgage underwriters in the U.S. is $86,603 per year.

How Much Does A Mortgage Underwriter Earn Per Hour?

The average hourly wage for a Mortgage Underwriter in the United States is $27, but the range typically falls between $24 and $32. Just like the annual wage, the hourly rate can vary widely depending on many important factors, including education, certifications, additional skills, and the number of years you have spent in your profession. 

Mortgage Underwriter Salary By State

Here’s a list of mortgage underwriter salary across the states in the United State.

State Avg. Salary Hourly Rate
Alabama $52,658 $25.32
Alaska $55,043 $26.46
Arizona $58,837 $28.29
Arkansas $59,489 $28.60
California $70,945 $34.11
Colorado $67,659 $32.53
Connecticut $56,589 $27.21
Delaware $54,049 $25.99
District of Columbia $62,945 $30.26
Florida $59,137 $28.43
Georgia $54,330 $26.12
Hawaii $62,363 $29.98
Idaho $58,322 $28.04
Illinois $59,329 $28.52
Indiana $47,230 $22.71
Iowa $60,934 $29.30
Kansas $59,534 $28.62
Kentucky $60,930 $29.29
Louisiana $62,757 $30.17
Maine $62,514 $30.05
Maryland $59,243 $28.48
Massachusetts $56,281 $27.06
Michigan $57,212 $27.51
Minnesota $62,856 $30.22
Mississippi $47,048 $22.62
Missouri $60,915 $29.29
Montana $63,012 $30.29
Nebraska $59,467 $28.59
Nevada $56,249 $27.04
New Hampshire $53,391 $25.67
New Jersey $66,205 $31.83
New Mexico $63,729 $30.64
New York $66,161 $31.81
North Carolina $63,513 $30.54
North Dakota $49,524 $23.81
Ohio $57,786 $27.78
Oklahoma $59,363 $28.54
Oregon $72,045 $34.64
Pennsylvania $63,944 $30.74
Rhode Island $60,749 $29.21
South Carolina $55,688 $26.77
South Dakota $59,763 $28.73
Tennessee $49,396 $23.75
Texas $63,914 $30.73
Utah $50,716 $24.38
Vermont $58,709 $28.23
Virginia $59,107 $28.42
Washington $63,212 $30.39
West Virginia $63,779 $30.66
Wisconsin $56,160 $27.00
Wyoming $65,781 $31.63
Table source: zippia

Highest Paying Cities For Mortgage Underwriters

Here’s a report of the highest paying cities for mortgage underwriters from Indeed.

City Salary
Philadelphia, PA $91,405
Dallas, TX $90,242
Charlotte, NC $88,393
Phoenix, AZ $88,335
Irvine, TX $87,165
Downers Groove, IL $86,610
Tampa, FL $85,968
Chandler, AZ $84,536
San Antonio Texas $84,202

Top Companies For Mortgage Underwriters In The United States

Here is a list of companies that reward mortgage underwriters handsomely:

Company Salary
Caliber Home Loans $142,512
Compunnel Inc. $129,682
US Mortgage $129,111
Network Capital Funding Corporation $122,503
Fortace LLC $116,490
U.S. Bank $114,328 $112,718
Entrust funding $112,530
Table source:

Junior Mortgage Underwriter Salary

According to a report from Indeed, the average salary for a junior underwriter is $52,592 per year in the United States. ZipRecruiter further reports that the estimated total pay for a Junior Mortgage Underwriter is $75,713 per year in the United States area, with an average salary of $62,616 per year.

FAQs On Mortgage Underwriters

What does an underwriter do for a mortgage?

A mortgage underwriter is the person that approves or denies your loan application. 

How long does it take for the underwriter to make a decision?

Depending on these factors, mortgage underwriting can take a day or two, or even weeks. Under normal circumstances, initial underwriting approval happens within 72 hours of submitting your full loan file. 

Can mortgage underwriters deny your loan?

Underwriters can deny your loan application for several reasons like low credit score, lack of details and lots more. 

Do mortgage underwriters make good money?

The total pay for a Mortgage Underwriter is $82,822 per year in the United States area, with an average salary of $70,631 per year.


According to the U.S. Bureau of Labor Statistics (BLS), loan officer jobs are expected to grow 1% between 2020 and 2030. As reported by the BLS, you can expect employees to be affected by the health of the economy and how it influences potential customers for loans. 


  • – Mortgage Underwriter salary in United States
  • – Hourly Wage For Mortgage Underwwriter
  • – Loan Underwriter Career Outlook

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