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Mortgage Underwriter II Salaries in Toronto, ON

• What is the average Mortgage Underwriter II salary for Toronto, ON?
  How much does a Mortgage Underwriter II in Toronto, ON make? The median annual Mortgage Underwriter II salary in Toronto, ON is C$71,518, as of September 23, 2026, with a range usually between C$65,491-C$77,910 not including bonus and benefit information and other factors that impact base pay. However, the salary for someone with the title Mortgage Underwriter II 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 II in Toronto, ON.

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

• Job Description for Mortgage Underwriter II
  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. 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. View full job description

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

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

• Most Popular Cities for Mortgage Underwriter II in Canada
  • Fredericton, NB Mortgage Underwriter II
  • Moncton, NB Mortgage Underwriter II
  • Halifax, NS Mortgage Underwriter II
  • Oshawa, ON Mortgage Underwriter II
  • Ottawa, ON Mortgage Underwriter II
  • Charlottetown, PE Mortgage Underwriter II
  • Montreal, QC Mortgage Underwriter II
  • Quebec, QC Mortgage Underwriter II
  • Sherbrooke, QC Mortgage Underwriter II

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• Categories that include Mortgage Underwriter II
  • Banking

• Mortgage Underwriter II 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