As of April 01, 2025, the average annual salary for a Loan Underwriter I in the United States is $57,981. Salary.com reports that pay typically ranges from $52,063 to $62,303, with most professionals earning between $46,675 and $66,238.
| Annual Salary |
Monthly Pay |
Weekly Pay |
Hourly Wage |
|
| 75th Percentile | $62,303 | $5,192 | $1,198 | $30 |
| Average | $57,981 | $4,832 | $1,115 | $28 |
| 25th Percentile | $52,063 | $4,339 | $1,001 | $25 |
An entry-level Loan Underwriter I with less than 1 year of experience earns about $57,539. With 1-2 years of experience, the average salary increases to $58,110. For 2-4 years of experience, the pay typically rises to $59,078. Senior-level professionals with 5-8 years of experience earn around $59,271, and those with over 8 years of experience can expect an average of $59,400.
| Levels | Salary |
|---|---|
| Entry Level Loan Underwriter I | $57,539 |
| Intermediate Level Loan Underwriter I | $58,110 |
| Senior Level Loan Underwriter I | $59,078 |
| Specialist Level Loan Underwriter I | $59,271 |
| Expert Level Loan Underwriter I | $59,400 |
| Entry Level | 1% |
| Mid Level | 0% |
| Senior Level | 2% |
| Top Level | 2% |
| Experienced | 2% |
Salaries in the United States differ widely between states due to factors like cost of living, local economies, and industry presence.
What Am I Worth?
Salaries in the United States can vary greatly between cities due to factors like cost of living, local economies, and industry presence.
As of April 01, 2025, our research reveals a significant shift in Loan Underwriter I compensation over the past six years. For example, the median salary increased from $58,203 in 2023 to approximately $58,091 in 2024. (For a detailed analysis of Loan Underwriter I salary trends, click here.)
Key factors like location, experience, industry demand, and economic growth significantly influence salary variations, making them important to consider.
Salary.com job board provides millions of Loan Underwriter I information for you to search for. Click on search button below to see Loan Underwriter I job openings or enter a new job title here.
Here are companies hiring for Loan Underwriter I and their salaries, click below for more details.
| Core Compensation | ||||
| Core Compensation | Median | % of Total | ||
| Base Salary | $57,981 | 70.7% | ||
| Bonus | $0 | 0.0% | ||
| Value of Benefits | ||||
| Core Compensation | Median | % of Total | ||
| Social Security | $4,436 | 5.4% | ||
| 401K/403B | $2,725 | 3.3% | ||
| Disability | $464 | 0.6% | ||
| Healthcare | $6,056 | 7.4% | ||
| Pension | $3,189 | 3.9% | ||
| Time Off | $7,136 | 8.7% | ||
| Total Compensation | $81,986 | 100% | ||
| Degree Level | % of user with this level of education |
|---|---|
| No Diploma | 2.8% |
| High School | 5.6% |
| Associates | 2.8% |
| Bachelors | 77.8% |
| Masters | 11.1% |
What Am I Worth?
The average annual salary of Loan Underwriter I is $57,981. In case you are finding an easy salary calculator, the average hourly pay of Loan Underwriter I is $28; the average weekly pay of Loan Underwriter I is $1,115; the average monthly pay of Loan Underwriter I is $4,832.
A Loan Underwriter I'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 Loan Underwriter I earns the most in San Jose, CA, where the annual salary of a Loan Underwriter I is $73,131.
The highest pay for Loan Underwriter I is $66,238.
The lowest pay for Loan Underwriter I is $46,675.
Reviews loan applications and related documentation to determine loan eligibility and terms. Analyzes financial information provided and collects additional documentation as necessary. Provides loan options, terms, or other product recommendations based on qualifications. Assists customers through the loan process by researching and answering customer inquiries, clarifying details, and coordinating with internal parties. 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.
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.
Microsoft Office: Microsoft Office is a suite of desktop productivity applications that is designed by Microsoft for business use. You can create documents containing text and images, work with data in spreadsheets and databases, create presentations and posters.
Commercial Banking: Is a profit oriented banking by providing loans to customers and charging interest. The bank’s funds come from money deposited by the bank customers in saving accounts, checking accounts, money market accounts, and certificates of deposit (CDs).
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.)
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