How much does a Loan Underwriter I make hourly in the United States? The average hourly wage for a Loan Underwriter I in the United States is $29 as of February 26, 2024, but the range typically falls between $25 and $33. Hourly rate can vary widely depending on many important factors, including education, certifications, additional skills, the number of years you have spent in your profession. With more online, real-time compensation data than any other website, Salary.com helps you determine your exact pay target. 

Loan Underwriter I Salaries by Percentile
Percentile Hourly Pay Rate Location Last Updated
10th Percentile Loan Underwriter I Salary $21 US February 26, 2024
25th Percentile Loan Underwriter I Salary $25 US February 26, 2024
50th Percentile Loan Underwriter I Salary $29 US February 26, 2024
75th Percentile Loan Underwriter I Salary $33 US February 26, 2024
90th Percentile Loan Underwriter I Salary $36 US February 26, 2024
25% $25 10% $21 90% $36 75% $33 $29 50%(Median) Didn’t find job title? Click
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Check out Loan Underwriter I jobs in Ashburn, Virginia

Commercial Underwriter

Shore United Bank - Fredericksburg, VA

Licensed Mortgage Loan Officer

EmpowerHome Mortgage - Vienna, VA

What skills does a Loan Underwriter I need?

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.

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.

3.

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).

Analysis 7.84%
Microsoft Office 0.9%
Commercial Banking 0.43%
Others 90.83%

Job Description for Loan Underwriter I

Loan Underwriter I reviews loan applications and related documentation to determine loan eligibility and terms. Analyzes financial information provided and collects additional documentation as necessary. Being a Loan Underwriter I 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. Additionally, Loan Underwriter I typically requires a bachelor's degree. Typically reports to a supervisor or manager. The Loan Underwriter I work is closely managed. Works on projects/matters of limited complexity in a support role. To be a Loan Underwriter I typically requires 0-2 years of related experience. (Copyright 2024 Salary.com)... View full job description

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Job Openings for Loan Underwriter I

Career Path for Loan Underwriter I

A career path is a sequence of jobs that leads to your short- and long-term career goals. Some follow a linear career path within one field, while others change fields periodically to achieve career or personal goals.

For Loan Underwriter I, the upper level is Loan Underwriter II and then progresses to Loan Underwriter IV.

Those that have already made the climb...
Patrick J. Haveron, Co-Chief Executive Officer and Chief Financial Officer
Maiden Holdings, Ltd., through its subsidiaries, provides property and casualty reinsurance solutions to regional and specialty insurers in Europe, the United States, and internationally. It operates in two segments, Diversified Reinsurance and AmTrust Reinsurance. The company writes treaties on a quota share basis and... More
Fiscal Year Ended in 2022
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Loan Underwriter I salary varies from city to city. Compared with national average salary of Loan Underwriter I, the highest Loan Underwriter I salary is in San Francisco, CA, where the Loan Underwriter I salary is 25.0% above. The lowest Loan Underwriter I salary is in Miami, FL, where the Loan Underwriter I salary is 2.9% lower than national average salary.

City, State Compared to national average
City, State San Francisco, CA Compared to national average
+ 25.0%
City, State Washington, DC Compared to national average
+ 11.3%
City, State Miami, FL Compared to national average
-2.9%
City, State Chicago, IL Compared to national average
+ 5.5%
City, State Boston, MA Compared to national average
+ 12.7%
City, State New York, NY Compared to national average
+ 17.5%
City, State Dallas, TX Compared to national average
-0.7%

Take just three simple steps below to generate your own personalized salary report

Step 1 of 3

Understand the total hourly compensation opportunity for a Loan Underwriter I, hourly wage plus other pay elements

Average Hourly Wage

Core compensation

 
 
 
25
33
29

Average Total Hourly Cash Compensation

Includes base and short-term incentives

 
 
 
26
35
30
These charts show the average hourly wage (core compensation), as well as the average total hourly cash compensation for the job of Loan Underwriter I in the United States. The average hourly rate for Loan Underwriter I ranges from $25 to $33 with the average hourly pay of $29. The total hourly cash compensation, which includes base and short-term incentives, can vary anywhere from $26 to $35 with the average total hourly cash compensation of $30.
Step 2 of 3

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How much should you be paid?

For a real-time salary target, tell us more about your role in the four categories below.

25
33

 

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Skills associated with Loan Underwriter I: Loan Authorization, Risk Assessment, Underwriting & Rating Software, Loan Software ...More

Jobs with a similar salary range to Loan Underwriter I : Financial Loan Analyst

Salary estimation for Loan Underwriter I at companies like : TD Bank , America, Division of Child Support Enforcement, Verity Funding Group LLC

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Loan Underwriter I Salary in United States
Loan Underwriter I Salary Graph, Regional Distribution and Summary