As of March 01, 2026, the average salary for a Loan Underwriter II in the United States is $69,376 per year, which breaks down to an hourly rate of $33.
However, a Loan Underwriter II's salary can vary significantly. Here’s a look at the typical salary range:
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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.
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:
| 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 IIs. For example, consider the average annual salaries in these key locations:
Demanded Skills for the Role:
| Skills | Demand Percentage |
|---|---|
| Analysis | 18.91% |
| Commercial Loans | 2.27% |
| Billing | 1.5% |
| 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%
|
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
| 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% |
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.
Last Updated on March 01, 2026For a Loan Underwriter II, the most direct path to higher earnings is advancing to the Loan Underwriter III role. This promotion typically comes with a significant pay increase, bringing the average annual salary to $85,463 - a projected growth of 23% over your current level.
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Compensation PlanningHere are companies hiring for Loan Underwriter II and their salaries, click below for more details.
Ready to take the next step in your career? Browse thousands of current Loan Underwriter II job openings on our job board. Use the search bar below to find your perfect match.
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A Loan Underwriter II'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 II earns the most in San Jose, CA, where the annual salary of a Loan Underwriter II is $87,504.
The highest pay for Loan Underwriter II is $81,589.
The lowest pay for Loan Underwriter II is $51,061.
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.
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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