As of January 01, 2025, the average annual salary for a Mortgage Loan Officer I in the United States is $49,876. According to Salary.com, salaries can range from a low of $36,439 to a high of $65,622, with most professionals earning between $42,842 and $58,118.
| Annual Salary |
Monthly Pay |
Weekly Pay |
Hourly Wage |
|
| 75th Percentile | $58,118 | $4,843 | $1,118 | $28 |
| Average | $49,876 | $4,156 | $959 | $24 |
| 25th Percentile | $42,842 | $3,570 | $824 | $21 |
An entry-level Mortgage Loan Officer I with less than 1 year of experience earns about $48,450. With 1-2 years of experience, the average salary increases to $49,284. For 2-4 years of experience, the pay typically rises to $50,957. Senior-level professionals with 5-8 years of experience earn around $51,934, and those with over 8 years of experience can expect an average of $52,178.
| Levels | Salary |
|---|---|
| Entry Level Mortgage Loan Officer I | $48,450 |
| Intermediate Level Mortgage Loan Officer I | $49,284 |
| Senior Level Mortgage Loan Officer I | $50,957 |
| Specialist Level Mortgage Loan Officer I | $51,934 |
| Expert Level Mortgage Loan Officer I | $52,178 |
| Entry Level | 3% |
| Mid Level | 1% |
| Senior Level | 2% |
| Top Level | 4% |
| Experienced | 5% |
Salaries in the United States differ widely between states due to factors like cost of living, local economies, and industry presence.
What Am I Worth?
Salaries in the United States can vary greatly between cities due to factors like cost of living, local economies, and industry presence.
As of January 01, 2025, our research reveals a significant shift in Mortgage Loan Officer I compensation over the past six years. For example, the median salary increased from $59,450 in 2023 to approximately $59,376 in 2024. (For a detailed analysis of Mortgage Loan Officer I salary trends, click here.)
Key factors like location, experience, industry demand, and economic growth significantly influence salary variations, making them important to consider.
Salary.com job board provides millions of Mortgage Loan Officer I information for you to search for. Click on search button below to see Mortgage Loan Officer I job openings or enter a new job title here.
Here are companies hiring for Mortgage Loan Officer I and their salaries, click below for more details.
| Core Compensation | ||||
| Core Compensation | Median | % of Total | ||
| Base Salary | $49,876 | 57.9% | ||
| Bonus | $11,258 | 13.1% | ||
| Value of Benefits | ||||
| Core Compensation | Median | % of Total | ||
| Social Security | $4,677 | 5.4% | ||
| 401K/403B | $2,873 | 3.3% | ||
| Disability | $489 | 0.6% | ||
| Healthcare | $6,056 | 7.0% | ||
| Pension | $3,362 | 3.9% | ||
| Time Off | $7,524 | 8.7% | ||
| Total Compensation | $86,115 | 100% | ||
The average annual salary of Mortgage Loan Officer I is $49,876. In case you are finding an easy salary calculator, the average hourly pay of Mortgage Loan Officer I is $24; the average weekly pay of Mortgage Loan Officer I is $959; the average monthly pay of Mortgage Loan Officer I is $4,156.
A Mortgage Loan Officer 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 Mortgage Loan Officer I earns the most in San Jose, CA, where the annual salary of a Mortgage Loan Officer I is $62,595.
The highest pay for Mortgage Loan Officer I is $65,622.
The lowest pay for Mortgage Loan Officer I is $36,439.
Mortgage Loan Officer I solicits and services a variety of residential mortgage loans. Interviews applicants, collects financial data and documents, and makes recommendations regarding the loan products that best meet the borrower's needs. Being a Mortgage Loan Officer I assists buyers in the purchase process through closing. Requires a bachelor's degree. Additionally, Mortgage Loan Officer I typically reports to a manager or head of a unit/department. The Mortgage Loan Officer I works on projects/matters of limited complexity in a support role. Work is closely managed. To be a Mortgage Loan Officer I typically requires 0-2 years of related experience.
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.
Customer Service: Customer service is the provision of service to customers before, during and after a purchase. The perception of success of such interactions is dependent on employees "who can adjust themselves to the personality of the guest". Customer service concerns the priority an organization assigns to customer service relative to components such as product innovation and pricing. In this sense, an organization that values good customer service may spend more money in training employees than the average organization or may proactively interview customers for feedback. From the point of view of an overall sales process engineering effort, customer service plays an important role in an organization's ability to generate income and revenue. From that perspective, customer service should be included as part of an overall approach to systematic improvement. One good customer service experience can change the entire perception a customer holds towards the organization.
Wholesale: Buying and selling products in large quantities at a lower price to increase profitability through a high sales volume.
Background Check: A background check or background investigation is a review of a potential employee's criminal, commercial and financial records. The goal of background checks is to ensure the safety and security of the employees in the organisation
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.
