As of March 01, 2026, the average hourly rate for a Mortgage Underwriter II in the United States is $35, which translates to an annual salary of about $73,326.
However, the hourly wage can vary significantly based on several factors. Here’s a detailed look at the typical pay range per hour:
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A Mortgage 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 Mortgage 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 |
|---|---|---|
| Mortgage Underwriter I | 0-2 years | $65,227 |
| Mortgage Underwriter II | 2-4 years | $73,326 |
| Mortgage Underwriter III | 4-7 years | $94,937 |
| Mortgage Underwriter IV | 7+ years | $112,254 |
| Mortgage Underwriting Manager | 7+ years | $111,121 |
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 Mortgage Underwriter IIs. For example, consider the average annual salaries in these key locations:
Demanded Skills for the Role:
| Skills | Demand Percentage |
|---|---|
| Analysis | 4.98% |
| Tax Return | 1.71% |
| Financial Services | 1.12% |
| Skill | Salary | Salary % Increase |
|---|---|---|
|
Consulting
|
$82,125 |
12%
|
|
Insight
|
$80,659 |
10%
|
|
Wholesale
|
$77,726 |
6%
|
|
Regulatory Compliance
|
$77,726 |
6%
|
|
Planning
|
$77,726 |
6%
|
|
Presentation
|
$77,726 |
6%
|
Your level of education can impact your salary potential. While many Mortgage Underwriter IIs enter the field with a High School Diploma or Technical Certificate 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 Mortgage Underwriter II with a High School Diploma or Technical Certificate is between $68,462 and $73,866).
Mortgage Underwriter II Salaries by Degree Level
| Degree Level | % of user with this level of education |
|---|---|
| No Diploma | 1.4% |
| High School | 32.9% |
| Associates | 15.7% |
| Bachelors | 42.9% |
| Masters | 7.1% |
| Doctorate | 0.0% |
Understanding how a Mortgage 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, 2026
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Underwrites mortgage loan applications and evaluates loans in order to maximize organizational profit and minimize risk or loss. Monitors property appraisal process. Assesses risks to determine approval status. May require a bachelor's degree. Typically reports to a supervisor or manager. Gains exposure to some of the complex tasks within the job function. Occasionally directed in several aspects of the work. Typically requires 2 to 4 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.
Analysis: Analysis is the process of considering something carefully or using statistical methods in order to understand it or explain it.
Tax Return: Calculating an entity’s income earned with the amount of tax payable to the government, organizations, or potential taxpayers.
Financial Services: A services provided by the finance industry, which encompasses a broad range of businesses that manage money. These services involve banking, brokerage, mortgages, credit cards, payment services, real estate, investment funds, taxes and accounting.
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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