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Mortgage Underwriter I Salaries in Thunder Bay, ON

• What is the average Mortgage Underwriter I salary for Thunder Bay, ON?
  How much does a Mortgage Underwriter I in Thunder Bay, ON make? The median annual Mortgage Underwriter I salary in Thunder Bay, ON is C$53,599, as of September 23, 2026, with a range usually between C$48,894-C$60,841 not including bonus and benefit information and other factors that impact base pay. However, the salary for someone with the title Mortgage Underwriter I may vary depending on a number of factors including industry, company size, location, years of experience and level of education. Our team of Certified Compensation Professionals has analyzed survey data collected from thousands of HR departments at companies of all sizes and industries to present this range of annual salaries for people with the job title Mortgage Underwriter I in Thunder Bay, ON.

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• About this chart
  This chart describes the expected percentage of people who perform the job of Mortgage Underwriter I in Thunder Bay, ON that make less than that salary. For example 50% of the people who perform the job of Mortgage Underwriter I in Thunder Bay, ON are expected to make less than the median.
  Source: HR Reported data as of September 23, 2026

• Job Description for Mortgage Underwriter I
  Evaluates the risk of mortgage loan 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 property appraisal. Calculates LTV ratio (loan to value) to define the loan program eligibility, down payment, interest rate, repayment terms, and allowed loan amounts. Makes approval, rejection, or modification decisions based on underwriting guidelines and established approval limits. Complies with all federal regulations, state laws, and internal policies related to mortgage lending. Escalates non-conforming loans that require approval review using an exception process. 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. View full job description

• Similar Job titles to Mortgage Underwriter I
  • Mortgage Operations Associate Director
  • Mortgage Underwriter II
  • Mortgage Underwriter III
  • Underwriter I
  • Underwriter I - Life
  • Underwriter II
  • Underwriter III
  • Underwriter III - Life

• Level of Education
  • Mortgage Underwriter I Salaries with a High School Diploma or Technical Certificate
  • Mortgage Underwriter I Salaries with an Associate's Degree
  • Mortgage Underwriter I Salaries with a Bachelor's Degree
  • Mortgage Underwriter I Salaries with a Master's Degree or MBA
  • Mortgage Underwriter I Salaries with a JD, MD, PhD or Equivalent

• Most Popular Cities for Mortgage Underwriter I in Canada
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• Categories that include Mortgage Underwriter I
  • Banking
  • Entry Level

• Mortgage Underwriter I Salaries by Province in Canada
  • Alberta
  • British Columbia
  • Manitoba
  • New Brunswick
  • Newfoundland and Labrador
  • Nova Scotia
  • Northwest Territories
  • Nunavut
  • Ontario
  • Prince Edward Island
  • Quebec
  • Saskatchewan
  • Yukon

• Banking Jobs by Salary Range
  • <$30K
  • $30K–$50K
  • $50K–$80K
  • $80K–$100K
  • >$100K