Loan Underwriter III Salary in Elgin, Illinois
Loan Underwriter III Salary in Elgin, IL
How much does a Loan Underwriter III make in Elgin, IL? The average Loan Underwriter III salary in Elgin, IL is $90,936 as of March 26, 2024, but the range typically falls between $78,006 and $102,758. Salary ranges 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.
| Percentile | Salary | Location | Last Updated |
| 10th Percentile Loan Underwriter III Salary | $66,234 | Elgin,IL | March 26, 2024 |
| 25th Percentile Loan Underwriter III Salary | $78,006 | Elgin,IL | March 26, 2024 |
| 50th Percentile Loan Underwriter III Salary | $90,936 | Elgin,IL | March 26, 2024 |
| 75th Percentile Loan Underwriter III Salary | $102,758 | Elgin,IL | March 26, 2024 |
| 90th Percentile Loan Underwriter III Salary | $113,521 | Elgin,IL | March 26, 2024 |
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What skills does a Loan Underwriter III 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.
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).
Job Description for Loan Underwriter III
Loan Underwriter III 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 III 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 III typically requires a bachelor's degree. Typically reports to a supervisor or manager. The Loan Underwriter III work is generally independent and collaborative in nature. Contributes to moderately complex aspects of a project. To be a Loan Underwriter III typically requires 4 -7 years of related experience. (Copyright 2024 Salary.com)... View full job description
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Career Path for Loan Underwriter III
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 III, the upper level is Loan Underwriter IV and then progresses to Loan Underwriting Supervisor.
What does a Loan Underwriter III do?
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Loan Underwriter III Pay Difference by Location
Loan Underwriter III salary varies from city to city. Compared with national average salary of Loan Underwriter III, the highest Loan Underwriter III salary is in San Francisco, CA, where the Loan Underwriter III salary is 25.0% above. The lowest Loan Underwriter III salary is in Miami, FL, where the Loan Underwriter III salary is 3.5% lower than national average salary.
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About Elgin, Illinois
Similar Jobs to Loan Underwriter III
| Job Title | Experience | EDUCATION | Salary Compared to This Job |
|---|---|---|---|
| Job Title Loan Underwriter I | Experience 0 - 2 | EducationBachelors | Salary Compared to This Job |
| Job Title Loan Underwriter II | Experience 2 - 4 | EducationBachelors | Salary Compared to This Job |
| Job Title Loan Underwriter IV | Experience 7 + | EducationBachelors | Salary Compared to This Job |
| Job Title Mortgage Underwriter I | Experience 0 - 2 | EducationBachelors | Salary Compared to This Job |
| Job Title Mortgage Underwriter II | Experience 2 - 4 | EducationBachelors | Salary Compared to This Job |
Level of Education for Loan Underwriter III
Jobs with different levels of education may pay very differently. Check the Loan Underwriter III salary of your education level.
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About Elgin, Illinois Elgin (/ˈɛldʒɪn/ EL-jin) is a city in Cook and Kane counties in the northern part of the U.S. state of Illinois. Located roughly 35 mi (56 km) northw....More
Elgin, Illinois area prices were up 0.8% from a year ago View the Cost of Living in Elgin, Illinois
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