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Hourly Wage for Loan Underwriter II Salary in the United States

What is the highest and lowest hourly pay for Loan Underwriter II?

As of March 01, 2026, the average hourly rate for a Loan Underwriter II in the United States is $33, which translates to an annual salary of about $69,376.

However, the hourly wage can vary significantly based on several factors. Here’s a detailed look at the typical pay range per hour:

  • Top Earners (90th percentile): $39 per hour
  • Majority Range (25th-75th percentile): $29 to $36 per hour
  • Entry-Level (10th percentile): $25 per hour
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View as table View as graph 25% $29 10% $25 90% $39 75% $36 $33 50%(Median) Didn’t find job title? Click

Loan Underwriter II Salaries by Percentile

Annual
Salary		 Monthly
Pay		 Weekly
Pay		 Hourly
Wage
75th Percentile $75,769 $6,314 $1,457 $36
Average $69,376 $5,781 $1,334 $33
25th Percentile $59,789 $4,982 $1,150 $29
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Key Factors That Influence Loan Underwriter II Salaries

A Loan Underwriter II'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.

How Experience Level Affects Loan Underwriter Salaries?

Experience is a primary driver of a Loan Underwriter II'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:

  • 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
Job Role Years of Experience Average Salary
Loan Underwriter I0-2 years$59,402
Loan Underwriter II2-4 years$69,376
Loan Underwriter III4-7 years$85,463
Loan Underwriter IV7+ years$103,771
Loan Underwriting Supervisor7+ years$95,493
$59,402 Loan Unde...
$69,376 Loan Unde...
$85,463 Loan Unde...
$103,771 Loan Unde...
$95,493 Loan Unde...
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What Am I Worth?

Top Paying Cities for Loan Underwriter IIs

Salaries can also vary between different cities. Major metropolitan areas or cities with a high demand for technicians often offer more competitive pay. Here are a few examples of average annual salaries in different U.S. cities:

  • San Jose: $87,504
  • San Francisco: $86,644
  • Oakland: $84,722

What Skills Can Increase a Loan Underwriter II's Salary?

Demanded Skills for the Role:

  • Analysis (Mentioned in 18.91% Job Postings): Analysis is the process of considering something carefully or using statistical methods in order to understand it or explain it.
  • Commercial Loans (Mentioned in 2.27% Job Postings): A commercial loan is a debt-based funding arrangement between a business and a financial institution such as a bank. It is typically used to fund major capital expenditures and/or cover operational costs that the company may otherwise be unable to afford.
  • Billing (Mentioned in 1.5% Job Postings): Billing refers to the aspect of banking, whereby someone is charged accurately for what item they purchased.
See More Skills
Skills Demand Percentage
Analysis 18.91%
Commercial Loans 2.27%
Billing 1.5%
What skills can make your compensation higher?
Mastering certain specialized skills can lead to a significant increase in pay. Here are examples of skills and the potential impact they can have on a Loan Underwriter II's salary.
  • Critical Thinking: Can increase your salary by up to 57%.
  • Loan Review: Can increase your salary by up to 21%.
  • Analysis: Can increase your salary by up to 21%.
Skill Salary Salary % Increase
Critical Thinking
 $108,920
57%
Loan Review
 $83,945
21%
Analysis
 $83,945
21%
Billing
 $81,170
17%
Cash Flow Analysis
 $80,476
16%
Flexibility
 $80,476
16%
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How Education impacts a Loan Underwriter II's Salary?

Your level of education can impact your salary potential. While many Loan Underwriter IIs 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 II with a Bachelor's Degree is between $70,776 and $76,290).

Loan Underwriter II Salaries by Degree Level

Typical Education for Loan Underwriter II
Degree Level % of user with this level of education
No Diploma 18.2%
High School 18.2%
Associates 13.6%
Bachelors 68.2%
Masters 13.6%
Doctorate 0.0%
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Loan Underwriter II Salary: Hourly Rate, Weekly Pay, and Monthly Pay

Understanding how a Loan Underwriter II'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.

  • Yearly
  • Monthly
  • Weekly
  • Hourly
  • Table View
Last Updated on March 01, 2026
$59,789
Average $69,376/year
$75,769
$4,982
Average $5,781/month
$6,314
$1,150
Average $1,334/week
$1,457
$29
Average $33/hour
$36
Annual Salary Monthly Pay Weekly Pay Hourly Wage
75th Percentile $75,769 $6,314 $1,457 $36
Average $69,376 $5,781 $1,334 $33
25th Percentile $59,789 $4,982 $1,150 $29

Salaries of jobs related to Loan Underwriter II

Most common benefits for Loan Underwriter II

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401(k)
Disability
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FAQ about Loan Underwriter II

1. What are the responsibilities of Loan Underwriter II?

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. Occasionally directed in several aspects of the work. Gaining exposure to some of the complex tasks within the job function. Typically requires 2 -4 years of related experience.

2. What are the skills of Loan Underwriter II

Specify the abilities and skills that a person needs in order to carry out the specified job duties. Each competency has five to ten behavioral assertions that can be observed, each with a corresponding performance level (from one to five) that is required for a particular job.

1.)

Analysis: Analysis is the process of considering something carefully or using statistical methods in order to understand it or explain it.

2.)

Commercial Loans: A commercial loan is a debt-based funding arrangement between a business and a financial institution such as a bank. It is typically used to fund major capital expenditures and/or cover operational costs that the company may otherwise be unable to afford.

3.)

Billing: Billing refers to the aspect of banking, whereby someone is charged accurately for what item they purchased.

Where Does Our Salary Data Come From?

Salary.com salary estimates, histograms, trends, and comparisons are derived from both employer job postings and third-party data sources. We also provide multiple percentiles of salary information for your reference, click here to know Why the Salary Midpoint Formula Is Crucial to Getting Pay Equity Right. With more online, real-time compensation data than any other website, Salary.com helps you determine your exact pay target.

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