upper level job

How much does a Mortgage Underwriter III make?

As of May 01, 2025, the average annual salary for a Mortgage Underwriter III in the United States is $94,401. According to Salary.com, salaries can range from a low of $77,602 to a high of $107,845, with most professionals earning between $85,608 and $101,438.

Mortgage Underwriter III Salaries by Percentile
Annual
Salary
Monthly
Pay
Weekly
Pay
Hourly
Wage
75th Percentile $101,438 $8,453 $1,951 $49
Average $94,401 $7,867 $1,815 $45
25th Percentile $85,608 $7,134 $1,646 $41

Average Salary

25% $85,608 10% $77,602 90% $107,845 75% $101,438 $94,401 50%(Median) Didn’t find job title? Click
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How much does a Mortgage Underwriter III make by hour, week, month, and year?

Salary.com provides you with accurate and diversified Mortgage Underwriter III salary data based on specialized databases to help you get a fairer salary. Click the switch button below to see more details about Mortgage Underwriter III hourly pay, weekly pay, monthly pay and so on.

Last Updated on May 01, 2025

How Does Experience Level Affect a Mortgage Underwriter III's Salary?

An entry-level Mortgage Underwriter III with less than 1 year of experience earns about $90,464. With 1-2 years of experience, the average salary increases to $91,120. For 2-4 years of experience, the pay typically rises to $92,826. Senior-level professionals with 5-8 years of experience earn around $95,136, and those with over 8 years of experience can expect an average of $97,552.

Levels Salary
Entry Level Mortgage Underwriter III $90,464
Intermediate Level Mortgage Underwriter III $91,120
Senior Level Mortgage Underwriter III $92,826
Specialist Level Mortgage Underwriter III $95,136
Expert Level Mortgage Underwriter III $97,552
$90,464 0 yr
$91,120 < 2 yrs
$92,826 2-4 yrs
$95,136 5-8 yrs
$97,552 > 8 yrs
Last Updated on May 01, 2025
Entry Level 4%
Mid Level 3%
Senior Level 2%
Top Level 1%
Experienced 3%
View as graph
Last Updated on May 01, 2025

How much does salary of Mortgage Underwriter III vary from city to city?

Salaries in the United States can vary greatly between cities due to factors like cost of living, local economies, and industry presence.

For example, as of May 01, 2025:
  • In San Francisco, CA, the average yearly salary for a Mortgage Underwriter III is $117,897.
  • In New York, NY, the average annual salary is $109,401.
  • In Boston, MA, a Mortgage Underwriter III earns $105,285 per year.

What is the salary trend of Mortgage Underwriter III?

As of May 01, 2025, our research reveals a significant shift in Mortgage Underwriter III compensation over the past six years. For example, the median salary increased from $91,295 in 2023 to approximately $91,108 in 2024. (For a detailed analysis of Mortgage Underwriter III salary trends, click here.)

Key factors like location, experience, industry demand, and economic growth significantly influence salary variations, making them important to consider.

Average Annual Salary of Mortgage Underwriter III Over Time

2020
$???
2021
$???
2022
$???
$91,295
2023
$91,108
2024
$90,024
2025
2026
$???
Last Updated on May 01, 2025
2020
$???
2021
$???
2022
$???
2023
$91,295
2024
$91,108
2025
$90,024
2026
$???
Last Updated on May 01, 2025

Mortgage Underwriter III Salary by Year

Year Average Annual Salary
2020 View More
2021 View More
2022 View More
2023 $91,295
2024 $91,108
2025 $90,024
2026 View More
Last Updated on May 01, 2025

Job Openings of Mortgage Underwriter III

Salary.com job board provides millions of Mortgage Underwriter III information for you to search for. Click on search button below to see Mortgage Underwriter III job openings or enter a new job title here.

Most Common Benefits for Mortgage Underwriter III

Based on HR-reported data: a national average with a geographic differential
Base Salary 73.3%
Bonuses 0.1%
Social Security 5.6%
401k/403b 2.3%
Disability 0.7%
Healthcare 4.2%
Pension 4.0%
Time Off 9.9%
Core Compensation
Core Compensation Median % of Total
Base Salary $94,401 73.3%
Bonus $123 0.1%
Value of Benefits
Core Compensation Median % of Total
Social Security $7,231 5.6%
401K/403B $2,930 2.3%
Disability $851 0.7%
Healthcare $5,345 4.2%
Pension $5,104 4.0%
Time Off $12,724 9.9%
Total Compensation $128,710 100%
Core Compensation is based on averages for this job and does not reflect personal factors used to determine your projected salary range.
Value of Benefits indicates the employer's expected contribution and paid time off.
Last Updated on May 01, 2025

What are the salaries of a Mortgage Underwriter III with different levels of education?

Salaries for Mortgage Underwriter III with a High School Diploma or Technical Certificate

According to our 100% employer reported salary sources the median salary for a Mortgage Underwriter III with a High School Diploma or Technical Certificate is $83,860 - $89,803. Please try our salary wizard to explore how other factors like location, Years of experience and number of direct reports can impact your base pay and bonus.

Mortgage Underwriter III Salaries by Degree Level

Last Updated on May 01, 2025
Typical Education for Mortgage Underwriter III
Degree Level % of user with this level of education
No Diploma 3.1%
High School 32.3%
Associates 16.2%
Bachelors 41.5%
Masters 6.9%
Typical Education for Mortgage Underwriter III
No Diploma 3.1%
High School 32.3%
Associates 16.2%
Bachelors 41.5%
Masters 6.9%
view as table

Mortgage Underwriter III Salaries by Degree Level

Last Updated on May 01, 2025

What Am I Worth?

FAQ about Mortgage Underwriter III

1. What is the average salary of a Mortgage Underwriter III?

The average annual salary of Mortgage Underwriter III is $94,401. In case you are finding an easy salary calculator, the average hourly pay of Mortgage Underwriter III is $45; the average weekly pay of Mortgage Underwriter III is $1,815; the average monthly pay of Mortgage Underwriter III is $7,867.

2. Where can a Mortgage Underwriter III earn the most?

A Mortgage 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 Mortgage Underwriter III earns the most in San Jose, CA, where the annual salary of a Mortgage Underwriter III is $119,068.

3. What is the highest pay for Mortgage Underwriter III?

The highest pay for Mortgage Underwriter III is $107,845.

4. What is the lowest pay for Mortgage Underwriter III?

The lowest pay for Mortgage Underwriter III is $77,602.

5. What are the responsibilities of Mortgage Underwriter III?

Underwrites mortgage loan applications and evaluates loans in order to maximize organizational profit and minimize risk or loss. Monitors property appraisal process and assists with property inspections. Assesses risks to determine approval status. May require a bachelor's degree. Typically reports to a supervisor or manager. Contributes to moderately complex aspects of a project. Work is generally independent and collaborative in nature. Typically requires 4 to 7 years of related experience.

6. What are the skills of Mortgage Underwriter III

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.

1.)

Analysis: Analysis is the process of considering something carefully or using statistical methods in order to understand it or explain it.

2.)

Tax Return: Calculating an entity’s income earned with the amount of tax payable to the government, organizations, or potential taxpayers.

3.)

Mortgage Products: Mortgage Products means residential real estate secured loan products as from time to time offered by Bank.

About Our Data

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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The average salary for a Mortgage Underwriter III is $94,401 per year in the United States, updated at May 01, 2025.
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