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As of August 01, 2026, the average salary for a Mortgage Loan Originator in Illinois is $51,893 per year, which breaks down to an hourly rate of $25.
However, a Mortgage Loan Originator's salary can vary significantly. Here’s a look at the typical salary range:
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Mortgage Loan Originator Salaries by Percentile
| Annual Salary |
Monthly Pay |
Weekly Pay |
Hourly Wage |
|
| 75th Percentile | $57,180 | $4,765 | $1,100 | $27 |
| Average | $51,893 | $4,324 | $998 | $25 |
| 25th Percentile | $45,684 | $3,807 | $879 | $22 |
U.S. Bank - Chicago, IL
Lakeside Bank - Chicago, IL
Dieterich Bank - Teutopolis, IL
Alliant Credit Union - Chicago, IL
A Mortgage Loan Originator'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 and company size can directly affect your earning potential.
Experience is a primary driver of a Mortgage Loan Originator'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:
| Levels | Salary |
|---|---|
| Mortgage ... Level Mortgage Loan Originator | $51,504 |
| Mortgage ... Level Mortgage Loan Originator | $64,677 |
| Mortgage ... Level Mortgage Loan Originator | $94,312 |
| Mortgage ... Level Mortgage Loan Originator | $96,892 |
| Mortgage ... Level Mortgage Loan Originator | $118,681 |
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 Loan Originators. For example, consider the average annual salaries in these key locations:
Salaries can also vary between different cities. Major metropolitan areas or cities with a high demand for technicians often offer more competitive pay. Here are a few examples of average annual salaries in different U.S. cities:
For Mortgage Loan Originator roles, the industry you choose can affect earning potential by as much as 35% (the gap between the highest and lowest paying industries). Data shows that the Financial Services and Edu., Gov't. & Nonprofit sectors offer the strongest compensation, at 20% above the average. In contrast, Mortgage Loan Originator positions in Insurance or Business Services typically offer lower base pay, as these industries often view Mortgage Loan Originator as a support function rather than a direct revenue driver.
| Industry Sector | Average Annual Salary | Average Hourly Rate | Pay vs.Avg |
|---|---|---|---|
| Financial Services | $62,271 | $30.0 | 20% |
| Edu., Gov't. & Nonprofit | $54,487 | $26.0 | 5% |
Understanding how a Mortgage Loan Originator'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.
| Annual Salary | Monthly Pay | Weekly Pay | Hourly Wage | |
|---|---|---|---|---|
| 75th Percentile | $57,180 | $4,765 | $1,100 | $27 |
| Average | $51,893 | $4,324 | $998 | $25 |
| 25th Percentile | $45,684 | $3,807 | $879 | $22 |
Ready to take the next step in your career? Browse thousands of current Mortgage Loan Originator job openings on our job board. Use the search bar below to find your perfect match.
Lakeside Bank
Oak Brook, IL
Lakeside Bank | Oak Brook, IL
Job Description. Job Description. Position: Full-Time Mortgage Loan Processer/Closer -- Grade 7. Location: Oak Brook Operations Ce... more
4 Days Ago
Mutual of Omaha Mortgage
Addison, IL
Mutual of Omaha Mortgage | Addison, IL
Job Description. Job Description. Are you currently a productive loan officer wanting to take your business to the next level. If so, join the team at Mutu... more
5 Days Ago
IH Mississippi Valley Credit Union
Moline, IL
IH Mississippi Valley Credit Union | Moline, IL
Job Description. Job Description. Join our team as a detail-oriented Mortgage Loan Processor at IHMVCU. We are committed to providing exceptional financial... more
5 Days Ago
Mutual of Omaha Mortgage
Saint Charles, IL
Mutual of Omaha Mortgage | Saint Charles, IL
Loan Officer Opportunity. Are you currently a productive loan officer wanting to take your business to the next level. If so, join the team at Mutual of Om... more
5 Days Ago
Hickory Point Bank
Decatur, IL
Hickory Point Bank | Decatur, IL
Mortgage Loan ProcessorYour next move starts here. If you are looking to launch or advance your career in the financial industry, don't miss this opportuni... more
6 Days Ago
GreenState Credit Union
Naperville, IL
GreenState Credit Union | Naperville, IL
GreenState Credit Union is seeking a Mortgage Loan Associate to support our growing mortgage team. In this member-focused role, you’ll guide borrowers thro... more
8 Days Ago
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