What are the main factors that influence a Loan Underwriter III's salary?

The primary factors are: 1) Experience Level, 2) Geographic Location, 3) Education/Skills, 4) Company Size & Industry

How does experience change A Loan Underwriter 's salary?

A Loan Underwriter 's salary grows with experience: a Loan Underwriter I (0-2 years)earns $59,421, a Loan Underwriter II (2-4 years)earns $69,382, a Loan Underwriter III (4-7 years)earns $85,461, a Loan Underwriter IV (7+ years)earns $103,774, a Loan Underwriting Supervisor (7+ years)earns $95,495,

What are the highest paying states for a Loan Underwriter III?

Loan Underwriter III salary varies significantly by state. The top 3 highest paying states for Loan Underwriter III roles are District of Columbia $94,622, California $94,263, Massachusetts $93,007. These tech hubs typically pay 10-15% above the national average.

How much do different types of Loan Underwriter roles make?

Salaries for Loan Underwriter level roles vary by specialization: Loan Underwriter IV: $103,774; Commercial Loan Underwriter: $98,169; Mortgage Underwriter III: $94,955; Underwriter III: $92,694; Mortgage Loan Underwriter: $74,657.

How do different companies affect a Loan Underwriter III's salary?

Company size, industry, and compensation structure create significant salary variations for Loan Underwriter III roles. Large, established industry leaders like Kpmg Us LLP ($114,295) and Warner Bros Discovery ($114,096) offer base salaries 35-40% above the national average. In contrast, smaller firms or startups may offer closer to $88,138.

Loan Underwriter III Salary in the United States

How much does a Loan Underwriter III make in the United States?

As of August 01, 2026, the average salary for a Loan Underwriter III in the United States is $85,461 per year, which breaks down to an hourly rate of $41.

However, a Loan Underwriter III's salary can vary significantly. Here’s a look at the typical salary range:

Top Earners (90th percentile): $90,642
Majority Range (25th-75th percentile): $80,692 to $88,173
Entry-Level (10th percentile): $76,350

10% $76,350

50% (Median) $85,461

90% $90,642

Loan Underwriter III Salaries by Percentile

	Annual Salary	Monthly Pay	Weekly Pay	Hourly Wage
75th Percentile	$88,173	$7,348	$1,696	$42
Average	$85,461	$7,122	$1,643	$41
25th Percentile	$80,692	$6,724	$1,552	$39

Salary Factors Salary-Boosting Skills Salary by Experience Related Job Salaries Top Paying Cities Explore Related Jobs

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Key Factors That Influence Loan Underwriter III Salaries

A Loan Underwriter III'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 III Salaries?

Experience is a primary driver of a Loan Underwriter III'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): $59,421
Loan Underwriter II (2-4 years): $69,382
Loan Underwriter III (4-7 years): $85,461
Loan Underwriter IV (7+ years): $103,774
Loan Underwriting Supervisor (7+ years): $95,495

Job Role	Years of Experience	Average Salary
Loan Underwriter I	0-2 years	$59,421
Loan Underwriter II	2-4 years	$69,382
Loan Underwriter III	4-7 years	$85,461
Loan Underwriter IV	7+ years	$103,774
Loan Underwriting Supervisor	7+ years	$95,495

View as Graph

How Do Loan Underwriter IIIs Salaries Vary from State to State?

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 IIIs. For example, consider the average annual salaries in these key locations:

District of Columbia: $94,622.
California: $94,263.
Massachusetts: $93,007.

District of Columbia $94,622 California $94,263 Massachusetts $93,007 Washington $92,665 New Jersey $92,631 Alaska $92,512 Connecticut $91,332 New York $90,854

Hawaii $89,324 Rhode Island $88,606 Maryland $88,119 Minnesota $87,452 Colorado $87,196 Illinois $87,110 Oregon $86,786 Delaware $86,546

New Hampshire $86,396 Virginia $86,059 Pennsylvania $85,076 Nevada $84,581 North Dakota $84,418 Michigan $84,162 Wisconsin $84,068 Vermont $83,880

Texas $83,359 Maine $83,324 Arizona $83,273 Ohio $83,213 Georgia $82,427 Indiana $82,034 Wyoming $81,957 Utah $81,837

Iowa $81,786 Kansas $81,376 Louisiana $81,256 North Carolina $81,214 Missouri $81,196 Florida $80,863 Montana $80,684 Nebraska $80,513

Kentucky $80,419 South Carolina $80,077 Tennessee $79,863 Idaho $79,778 New Mexico $79,154 Oklahoma $79,017 Alabama $78,513 South Dakota $77,667

Arkansas $77,205 West Virginia $76,958 Mississippi $76,214

Top Paying Cities for Loan Underwriter III

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: $107,792
San Francisco: $106,612
Oakland: $104,365

San Jose, CA $107,792

San Francisco, CA $106,612

Oakland, CA $104,365

New York, NY $98,399

Paramus, NJ $97,202

Queens Village, NY $97,198

Passaic, NJ $97,117

Bergenfield, NJ $97,109

Stamford, CT $96,921

Huntington, NY $96,886

Newark, NJ $96,255

Bridgeport, CT $96,074

Vallejo, CA $95,904

New Brunswick, NJ $95,870

Petaluma, CA $95,819

Middlesex, NJ $95,656

Somerset, NJ $95,597

Santa Cruz, CA $95,486

Boston, MA $94,964

Monterey, CA $94,664

Seattle, WA $94,469

Santa Rosa, CA $94,451

Los Angeles, CA $94,426

Juneau, AK $94,204

Washington, DC $94,110

Orange, CA $93,805

Santa Ana, CA $93,580

Long Beach, CA $93,494

Anaheim, CA $93,477

Anchorage, AK $93,435

Santa Maria, CA $93,178

Everett, WA $93,161

Danbury, CT $92,860

Bremerton, WA $92,742

Tacoma, WA $92,435

New Suffolk, NY $92,433

Sacramento, CA $92,409

Santa Barbara, CA $92,315

Trenton, NJ $92,221

San Diego, CA $92,221

Brockton, MA $92,127

Fairbanks, AK $91,918

Lompoc, CA $91,700

Lowell, MA $91,630

Ventura, CA $91,614

Nashua, NH $91,597

Stockton, CA $91,589

Modesto, CA $90,965

Poughkeepsie, NY $90,777

Olympia, WA $90,614

Kennewick, WA $90,614

New Haven, CT $90,580

Lawrence, MA $90,272

Hartford, CT $90,187

Riverside, CA $90,170

New Bedford, MA $90,084

Richland, WA $90,084

Bakersfield, CA $89,965

San Bernardino, CA $89,931

New Britain, CT $89,922

Atlantic City, NJ $89,922

New London, CT $89,888

Norwich, CT $89,862

Portsmouth, NH $89,845

Boulder, CO $89,664

Portland, OR $89,546

Worcester, MA $89,537

Minneapolis, MN $89,273

Philadelphia, PA $89,153

Honolulu, HI $88,871

Saint Paul, MN $88,830

Vineland, NJ $88,811

Providence, RI $88,563

Chicago, IL $88,315

Bellingham, WA $88,213

Springfield, MA $88,144

Baltimore, MD $88,119

Chico, CA $87,905

Pittsfield, MA $87,674

Manchester, NH $87,512

Spokane, WA $87,136

Denver, CO $87,127

Albany, NY $86,726

Troy, NY $86,692

Nassau, NY $86,600

Schenectady, NY $86,512

Wilmington, DE $86,444

Burlington, VT $86,324

Salem, OR $86,290

Portland, ME $86,025

Yakima, WA $85,940

Rochester, MN $85,675

Reno, NV $85,632

Fresno, CA $85,632

Milwaukee, WI $85,555

Detroit, MI $85,470

Ann Arbor, MI $85,455

Allentown, PA $85,444

Colorado Springs, CO $85,299

Syracuse, NY $85,256

Carson City, NV $85,256

Houston, TX $85,136

Eugene, OR $85,094

Gary, IN $84,991

Springfield, OR $84,923

Bismarck, ND $84,906

Galveston, TX $84,846

Medford, OR $84,717

Fort Collins, CO $84,683

Concord, NH $84,641

Austin, TX $84,615

Mesa, AZ $84,435

Reading, PA $84,427

Phoenix, AZ $84,418

Dallas, TX $84,393

Saint Cloud, MN $84,311

Madison, WI $84,196

Utica, NY $83,965

Rochester, NY $83,829

Des Moines, IA $83,820

Raleigh, NC $83,812

Atlanta, GA $83,683

Battle Creek, MI $83,658

Salt Lake City, UT $83,632

Lancaster, PA $83,504

Harrisburg, PA $83,384

Kansas City, MO $83,299

Champaign, IL $83,282

Kansas City, KS $83,282

Fort Worth, TX $83,273

Columbus, OH $83,259

Boca Raton, FL $83,239

Pittsburgh, PA $83,205

Richmond, VA $83,171

Indianapolis, IN $83,154

Cleveland, OH $83,145

Las Vegas, NV $83,042

Cincinnati, OH $83,042

Petersburg, VA $82,914

Huntsville, AL $82,786

Lansing, MI $82,729

Lebanon, PA $82,718

Pueblo, CO $82,709

Appleton, WI $82,684

Buffalo, NY $82,649

Dayton, OH $82,624

Racine, WI $82,607

Charlotte, NC $82,598

Saint Louis, MO $82,572

York, PA $82,521

Elkhart, IN $82,521

Gastonia, NC $82,505

Billings, MT $82,484

Beaumont, TX $82,461

Lorain, OH $82,444

Benton Harbor, MI $82,427

Toledo, OH $82,410

Binghamton, NY $82,367

Rock Hill, SC $82,359

Rockford, IL $82,316

Springfield, IL $82,282

Elyria, OH $82,273

Fargo, ND $82,273

Flagstaff, AZ $82,213

Fort Lauderdale, FL $82,162

Duluth, MN $82,111

Miami, FL $82,111

Cheyenne, WY $82,051

Grand Forks, ND $82,051

Bangor, ME $81,863

Cedar Rapids, IA $81,769

Durham, NC $81,733

Louisville, KY $81,726

Grand Rapids, MI $81,709

Hialeah, FL $81,701

Casper, WY $81,581

Scranton, PA $81,479

New Orleans, LA $81,453

Virginia Beach, VA $81,444

Akron, OH $81,402

Peoria, IL $81,291

Sarasota, FL $81,273

Nashville, TN $81,214

Omaha, NE $81,214

Green Bay, WI $81,214

Baton Rouge, LA $81,171

Charleston, SC $81,154

Jamestown, NY $81,111

Davenport, IA $81,111

Tucson, AZ $81,068

Saint Petersburg, FL $81,017

Tampa, FL $81,000

Evansville, IN $80,949

Port Arthur, TX $80,949

Bradenton, FL $80,914

Santa Fe, NM $80,761

Orlando, FL $80,607

Clearwater, FL $80,581

Canton, OH $80,402

La Crosse, WI $80,402

Albuquerque, NM $80,350

Newport News, VA $80,342

High Point, NC $80,316

Ogden, UT $80,282

Corpus Christi, TX $80,214

Norfolk, VA $80,162

Laramie, WY $80,162

Rock Island, IL $80,111

Saginaw, MI $80,094

Jacksonville, FL $80,086

Salisbury, NC $80,068

Boise, ID $80,051

Moline, IL $80,009

Fort Myers, FL $79,983

Memphis, TN $79,966

Tulsa, OK $79,923

Waterloo, IA $79,872

Spartanburg, SC $79,786

Lincoln, NE $79,744

Fort Wayne, IN $79,727

Provo, UT $79,718

Cedar Falls, IA $79,615

San Antonio, TX $79,581

Greensboro, NC $79,547

South Bend, IN $79,539

Savannah, GA $79,445

Muskegon, MI $79,410

Birmingham, AL $79,402

Winston Salem, NC $79,360

Lake Charles, LA $79,154

Anderson, IN $79,137

Lexington, KY $79,111

Augusta, GA $79,086

Greenville, SC $79,086

Lima, OH $79,017

Wichita, KS $79,009

Tuscaloosa, AL $79,009

Columbia, SC $78,932

Springfield, OH $78,915

Asheville, NC $78,778

Bloomington, IN $78,718

Knoxville, TN $78,410

Shreveport, LA $78,402

Wilmington, NC $78,291

Roanoke, VA $78,291

Topeka, KS $78,137

Frankfort, KY $78,128

Oklahoma City, OK $78,069

Chillicothe, OH $78,034

Longview, TX $78,026

Melbourne, FL $78,017

Sioux Falls, SD $77,881

Mobile, AL $77,872

Terre Haute, IN $77,838

Altoona, PA $77,787

Amarillo, TX $77,727

Killeen, TX $77,701

Fayetteville, AR $77,633

Chattanooga, TN $77,607

Sioux City, IA $77,530

Idaho Falls, ID $77,513

Lynchburg, VA $77,445

Gainesville, FL $77,334

Portsmouth, OH $77,291

Little Rock, AR $77,274

Lafayette, LA $77,240

Youngstown, OH $77,240

Daytona Beach, FL $77,188

Clarksville, TN $77,180

Pensacola, FL $77,171

Temple, TX $77,165

Hopkinsville, KY $76,915

Erie, PA $76,898

Florence, SC $76,864

Charleston, WV $76,727

Great Falls, MT $76,684

Macon, GA $76,565

Tallahassee, FL $76,556

Fayetteville, NC $76,539

Waco, TX $76,522

Helena, MT $76,462

Pine Bluff, AR $76,429

Vincennes, IN $76,325

Lubbock, TX $76,291

Alamogordo, NM $76,240

Twin Falls, ID $76,163

Rapid City, SD $76,137

Jackson, MS $75,983

Huntington, WV $75,977

Greenville, MS $75,975

Parkersburg, WV $75,888

Montgomery, AL $75,872

Wichita Falls, TX $75,787

Springfield, MO $75,787

Biloxi, MS $75,744

Monroe, LA $75,659

Johnstown, PA $75,599

Sumter, SC $75,565

Columbus, GA $75,556

Pascagoula, MS $75,394

Abilene, TX $75,394

Kingsport, TN $75,171

Albany, GA $75,171

Gulfport, MS $75,146

Alexandria, LA $74,864

Fort Smith, AR $74,650

El Paso, TX $74,419

Las Cruces, NM $74,035

Harlingen, TX $73,818

Pocatello, ID $73,804

Florence, AL $73,693

Brownsville, TX $73,676

Mcallen, TX $73,496

Dothan, AL $73,377

Columbus, MS $72,869

Altus, OK $72,471

Lawton, OK $72,309

Pierre, SD $72,001

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

Demanded Skills for the Role:

Analysis (Mentioned in 19.03% 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 2.22% 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.
Loan Review (Mentioned in 1.15% Job Postings): Loan review is a process routinely used by banks to assess the current value of loan portfolios. Provisioning is a technique to translate loan review results into the balance sheet.

Skills	Demand Percentage
Analysis	19.03%
Commercial Loans	2.22%
Loan Review	1.15%

See More Skills

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 III's salary.

Analytical Skills: Can increase your salary by up to 17%.
Financial Services: Can increase your salary by up to 17%.
Accounting: Can increase your salary by up to 11%.

Skill	Salary	Salary % Increase
Analytical Skills	$99,989	17%
Financial Services	$99,989	17%
Accounting	$94,862	11%

Get Latest Data

Loan Underwriter III Salary by Company Size: Startups vs. Enterprise

Loan Underwriter III salary potential scales significantly with company size. Data shows that Enterprise companies (5,000+ employees) pay the highest average salary at around $91,052. While startup companies pay approximate $77,316.

Loan Underwriter III Salary by Company Size

Company Size	Employees	Average Salary
Startup	1~50	$77,316
Growth Stage	51~500	$81,704
Established	501~5000	$88,008
Enterprise	5000+	$91,052

Loan Underwriter III Salary by Industry: Top Paying Sectors

For Loan Underwriter III roles, the industry you choose can impact your earning potential by as much as 25% (the gap between the highest and lowest paying industries). Data shows that the highest-paying industry, Financial Services, offers compensation 10% above the average. Conversely, Loan Underwriter positions in Business Services typically offer lower base pay, as this sector often view Loan Underwriter III as a support function rather than a direct revenue driver.

The top paying industries for a Loan Underwriter III

Industry Sector	Average Annual Salary	Average Hourly Rate	Pay vs.Avg
Financial Services	$94,007	$45.0	10%
Edu., Gov't. & Nonprofit	$89,734	$43.0	5%

How Education impacts an Loan Underwriter III's Salary?

Your level of education can impact your salary potential. While many Loan Underwriter III enter the field with a Bachelor's Degree, higher education can lead to more specialized and higher-paying roles.

According to our 100% employer-reported salary data, the median salary for an Loan Underwriter III with a Bachelor's Degree is between $86,023 and $92,935.

Loan Underwriter III Salaries by Degree Level

$94,200
$93,100
$91,900
$90,700
$89,600
$88,400
$87,200
$86,100

Typical Education for Loan Underwriter III
Degree Level	% of user with this level of education
No Diploma	16.7%
High School	16.7%
Associates	10.0%
Bachelors	46.7%
Masters	23.3%
Doctorate	3.3%

View as Graph

Loan Underwriter III Salary: Hourly Rate, Weekly Pay, and Monthly Pay

Understanding how a Loan Underwriter III'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.

$80,692

Average $85,461/year

$88,173

$6,724

Average $7,122/month

$7,348

$1,552

Average $1,643/week

$1,696

$39

Average $41/hour

$42

	Annual Salary	Monthly Pay	Weekly Pay	Hourly Wage
75th Percentile	$88,173	$7,348	$1,696	$42
Average	$85,461	$7,122	$1,643	$41
25th Percentile	$80,692	$6,724	$1,552	$39

Loan Underwriter III Salary Growth & Career Path

Loan Underwriter III

Next Role

Advancement

Promotions are the fastest way to increase your earnings. As a Loan Underwriter III, you have the following paths for advancement. The table below compares the salary raises for common next-step roles. By comparing these figures, you can choose the career path that best meets your financial goals.

Loan Underwriter III Salary Growth and Career Path
Next Step Role	Estimate Salary	Projected Raise
Mortgage Underwriter IV	$112,309	31%
Loan Underwriter IV	$103,774	21%

Salary Trends for Loan Underwriter III

Salaries for a Loan Underwriter III can change over time, reflecting shifts in market demand and the overall economy. The median salary decreased from $91,310 in 2023 to around $89,133 in 2025, reflecting changes in demand, location, experience, and the wider economy. For a detailed analysis of Loan Underwriter III salary trends, .

Average Annual Salary of Loan Underwriter III Over Time

$???
$91,310
$90,621
$89,133
$???
$???

2022
2023
2024
2025
2026
2027

Year	Average Annual Salary
2022	View More
2023	$91,310
2024	$90,621
2025	$89,133
2026	View More
2027	View More

Most common benefits for Loan Underwriter III

Social Security
401 (k)
Disability
Healthcare
Pension
Time Off (days)

Common company salaries for Loan Underwriter III

Here are companies hiring for Loan Underwriter III and their salaries, click below for more details.

K $114,295/per year

Kpmg Us LLP Business Services the United States

W $114,096/per year

Warner Bros Discovery Business Services the United States

D $111,927/per year

Dentsu International Ltd Business Services the United States

G $111,873/per year

GroupM Worldwide Inc Business Services the United States

C $111,651/per year

CoWorx Staffing Business Services the United States

C $110,194/per year

Contemporary Services Corp Business Services the United States

S $107,128/per year

Showcase Cinemas Business Services the United States

A $106,429/per year

Amentum Services Inc Business Services the United States

A $106,199/per year

Allied Universal Security Services LLC Business Services the United States

S $106,104/per year

Sodexo USA Business Services the United States

J $105,192/per year

JLL Technologies Business Services the United States

I $104,478/per year

Intact Insurance Group USA LLC Business Services the United States

N $101,619/per year

NielsenIQ Business Services the United States

T $101,470/per year

The Leading Edge Alliance Business Services the United States

H $101,308/per year

Honeywell UOP Business Services the United States

R $97,720/per year

Reeve & Associates Business Services the United States

M $97,584/per year

ManpowerGroup Global Inc Business Services the United States

F $95,980/per year

Financial Sys Nco Business Services the United States

A $95,314/per year

Arrow Global Ltd Business Services the United States

C $94,777/per year

CarMax Enterprise Services LLC Business Services the United States

D $94,479/per year

DZConneX Business Services the United States

A $93,802/per year

Adecco Staffing, USA Business Services the United States

R $92,937/per year

Resource MFG Business Services the United States

Z $92,774/per year

Zachry Brands Inc Business Services the United States

G $88,138/per year

Greystar Worldwide LLC Business Services the United States

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FAQ about Loan Underwriter III

1. Where can a Loan Underwriter III earn the most?

A Loan Underwriter III'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 III earns the most in San Jose, CA, where the annual salary of a Loan Underwriter III is $107,792.

2. What is the highest pay for Loan Underwriter III?

The highest pay for Loan Underwriter III is $90,642.

3. What is the lowest pay for Loan Underwriter III?

The lowest pay for Loan Underwriter III is $76,350.

4. What are the responsibilities of Loan Underwriter III?

Evaluates the risk of loan and credit applications against the firm's objectives and borrowing guidelines using analysis and assessment of creditworthiness criteria. Reviews the applicant's financial status, documents, data, and applicable collateral. Makes approval, rejection, or modification decisions based on underwriting guidelines and established approval limits. May present to a loan committee. Defines the loan structure consisting of interest rates, repayment terms, and allowed loan amounts. Complies with all federal regulations, state laws, and internal policies related to lending. Responds to inquiries from internal and external stakeholders. Typically requires a bachelor's degree. Typically reports to a supervisor or manager. Work is generally independent and collaborative in nature. Contributes to moderately complex aspects of a project. Typically requires 4-7 years of related experience.

5. What industry pays the highest salary for Loan Underwriter III?

The Financial Services industry offers the highest average compensation for Loan Underwriter III roles, with salaries approximately 10% above the market median.

Where Does Our Salary Data Come From?

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.)

With the most extensive online, real-time compensation data available, Salary.com helps you pinpoint your exact pay target.

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