Loan Underwriters
Overview
Introduction
Loan underwriters determine if loan applicants are creditworthy. They evaluate loan applications and approve or reject them based on applicants’ credit history, employment history, assets, debts, and other factors. They use their own expert judgment and loan underwriting software to produce recommendations.
Quick Facts
Median Salary
Employment Prospects
Minimum Education Level
Experience
Skills
Personality Traits
Earnings
The staffing firm Robert Half reports that mortgage underwriters earned salaries that ranged from $61,000 to $98,500 in 2024.
According to PayScale.com, mortgage loan underwriters earned median annual salaries of $74,106 in 2025. Ten percent earned less than $50,000, and 10 percent earned $97,000 or more.
Some loan underwriters receive commissions, but pay structure varies by empl...
Work Environment
Loan underwriters work in typical office settings. A growing number of companies allow underwriters to telecommute. Underwriters work a standard 40-hour week, although overtime may be required during peak loan application periods. This career can be stressful at times due to the pressure to complete underwriting duties on deadline, as well as the possibility of approving loans that default—cost...
Outlook
Employment for loan officers (a career category that includes loan underwriters) will grow more slowly than the average for all careers from 2023 to 2033, according to the U.S. Department of Labor. As the economy grows, banks and other lending institutions are granting an increasing number of loans to businesses and individuals, but employment is slowing as a result of the automation of some ta...
