As of March 01, 2026, the average salary for a Loan Underwriter I in the United States is $59,402 per year, which breaks down to an hourly rate of $29.
However, a Loan Underwriter I's salary can vary significantly. Here’s a look at the typical salary range:
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A Loan Underwriter I's salary isn't a fixed number. It's shaped by several important factors. Below, we'll explore how your years of experience, geographic location, education and company size can directly affect your earning potential.
Experience is a primary driver of a Loan Underwriter I's salary. As you build your skills and take on more complex tasks, your compensation generally increases. Here's how the average salary grows at different career stages:
| Job Role | Years of Experience | Average Salary |
|---|---|---|
| Loan Underwriter I | 0-2 years | $59,402 |
| Loan Underwriter II | 2-4 years | $69,376 |
| Loan Underwriter III | 4-7 years | $85,463 |
| Loan Underwriter IV | 7+ years | $103,771 |
| Loan Underwriting Supervisor | 7+ years | $95,493 |
What Am I Worth?
Your salary can change significantly depending on where you work. States with a higher cost of living and strong industrial sectors often pay more to attract Loan Underwriter Is. For example, consider the average annual salaries in these key locations:
Demanded Skills for the Role:
| Skills | Demand Percentage |
|---|---|
| Analysis | 18.89% |
| Commercial Loans | 2.27% |
| Billing | 1.5% |
| Skill | Salary | Salary % Increase |
|---|---|---|
|
Portfolio Management
|
$80,193 |
35%
|
|
Decision Making
|
$80,193 |
35%
|
|
Balance Sheet
|
$80,193 |
35%
|
|
Integrity
|
$77,223 |
30%
|
|
Critical Thinking
|
$77,223 |
30%
|
|
Flexibility
|
$74,253 |
25%
|
Your level of education can impact your salary potential. While many Loan Underwriter Is enter the field with a Bachelor's Degree degree, higher education can lead to more specialized and higher-paying roles.
According to our 100% employer-reported salary data, the median salary for a Loan Underwriter I with a Bachelor's Degree is between $57,844 and $62,737).
Loan Underwriter I Salaries by Degree Level
| Degree Level | % of user with this level of education |
|---|---|
| No Diploma | 2.8% |
| High School | 5.6% |
| Associates | 2.8% |
| Bachelors | 77.8% |
| Masters | 11.1% |
| Doctorate | 0.0% |
Understanding how a Loan Underwriter I's annual salary breaks down can help with budgeting. Below, you can see the average hourly rate, weekly pay, and monthly pay for this role. Use the buttons to switch between different pay periods.
Last Updated on March 01, 2026For a Loan Underwriter I, the most direct path to higher earnings is advancing to the Loan Underwriter II role. This promotion typically comes with a significant pay increase, bringing the average annual salary to $69,376 - a projected growth of 17% over your current level.
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Compensation PlanningHere are companies hiring for Loan Underwriter I and their salaries, click below for more details.
Ready to take the next step in your career? Browse thousands of current Loan Underwriter I job openings on our job board. Use the search bar below to find your perfect match.
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A Loan Underwriter I's earning potential can vary widely depending on several factors, including location, industry, experience, education, and the specific employer. According to the latest salary data by Salary.com, a Loan Underwriter I earns the most in San Jose, CA, where the annual salary of a Loan Underwriter I is $74,924.
The highest pay for Loan Underwriter I is $69,866.
The lowest pay for Loan Underwriter I is $49,911.
Reviews loan applications and related documentation to determine loan eligibility and terms. Analyzes financial information provided and collects additional documentation as necessary. Provides loan options, terms, or other product recommendations based on qualifications. Assists customers through the loan process by researching and answering customer inquiries, clarifying details, and coordinating with internal parties. Typically requires a bachelor's degree. Typically reports to a supervisor or manager. Work is closely managed. Works on projects/matters of limited complexity in a support role. Typically requires 0-2 years of related experience.
Salary.com provides salary estimates, histograms, trends, and comparisons using data from employer job postings and third-party sources.
We offer detailed salary information across multiple percentiles for your reference. (Click here to learn Why the Salary Midpoint Formula Is Crucial for Achieving Pay Equity.)
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