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Lender salary
Average lender salary
$37,723
How much does a lender make?
The average lender salary in the United States is $37,723. Lender salaries typically range between $25,000 and $55,000 yearly. The average hourly rate for lenders is $18.14 per hour.
Lender salary is impacted by location, education, and experience. Lenders earn the highest average salary in South Dakota.
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Where can a Lender earn more?
Lender Salaries By Experience Level
Experience Level  | Avg. Salary | Hourly Rate |
|---|---|---|
| Entry-level lender | $24,500 | $11.80 |
| Mid-level lender | $40,400 | $19.41 |
| Senior-level lender | $72,100 | $34.64 |
Average lender salary by state
Highest paying states for lenders
| Rank | State | Avg. Salary | Hourly Rate |
|---|---|---|---|
| 1 | South Dakota | $52,962 | $25.46 |
| 2 | Minnesota | $50,191 | $24.13 |
| 3 | Maine | $47,679 | $22.92 |
| 4 | Wyoming | $46,590 | $22.40 |
| 5 | Rhode Island | $44,996 | $21.63 |
| 6 | Michigan | $45,365 | $21.81 |
| 7 | Washington | $50,925 | $24.48 |
| 8 | North Dakota | $44,880 | $21.58 |
| 9 | New Mexico | $50,218 | $24.14 |
| 10 | Iowa | $46,758 | $22.48 |
| 11 | Hawaii | $52,208 | $25.10 |
| 12 | Wisconsin | $47,373 | $22.78 |
| 13 | Arkansas | $47,473 | $22.82 |
| 14 | Vermont | $44,958 | $21.61 |
| 15 | Nebraska | $46,968 | $22.58 |
| 16 | Illinois | $44,173 | $21.24 |
| 17 | Texas | $41,955 | $20.17 |
| 18 | Montana | $46,881 | $22.54 |
| 19 | Delaware | $43,489 | $20.91 |
| 20 | Maryland | $45,007 | $21.64 |
| 21 | Ohio | $39,208 | $18.85 |
| 22 | New York | $43,444 | $20.89 |
| 23 | Missouri | $43,117 | $20.73 |
| 24 | Massachusetts | $45,495 | $21.87 |
| 25 | Kansas | $39,693 | $19.08 |
| 26 | Florida | $39,531 | $19.01 |
| 27 | California | $43,334 | $20.83 |
| 28 | Oregon | $43,564 | $20.94 |
| 29 | Connecticut | $41,510 | $19.96 |
| 30 | Idaho | $37,730 | $18.14 |
| 31 | New Hampshire | $41,178 | $19.80 |
| 32 | Kentucky | $38,056 | $18.30 |
| 33 | West Virginia | $38,292 | $18.41 |
| 34 | South Carolina | $36,956 | $17.77 |
| 35 | Oklahoma | $39,269 | $18.88 |
| 36 | Utah | $34,081 | $16.39 |
| 37 | Pennsylvania | $35,414 | $17.03 |
| 38 | District of Columbia | $41,420 | $19.91 |
| 39 | Arizona | $32,198 | $15.48 |
| 40 | New Jersey | $35,933 | $17.28 |
| 41 | Colorado | $34,938 | $16.80 |
| 42 | Alaska | $37,578 | $18.07 |
| 43 | North Carolina | $33,435 | $16.07 |
| 44 | Georgia | $36,414 | $17.51 |
| 45 | Nevada | $32,966 | $15.85 |
| 46 | Tennessee | $33,541 | $16.13 |
| 47 | Indiana | $33,746 | $16.22 |
| 48 | Alabama | $35,038 | $16.85 |
| 49 | Mississippi | $33,237 | $15.98 |
| 50 | Louisiana | $33,596 | $16.15 |
| 51 | Virginia | $34,483 | $16.58 |
Highest paying cities for lenders
The highest-paying cities for lenders are Seattle, WA, Shoreview, MN, and Appleton, WI.
| Rank | City | Avg. Salary | Hourly Rate |
|---|---|---|---|
| 1 | Seattle, WA | $51,147 | $24.59 |
| 2 | Shoreview, MN | $50,252 | $24.16 |
| 3 | Appleton, WI | $47,788 | $22.98 |
| 4 | Omaha, NE | $47,062 | $22.63 |
| 5 | Little Rock, AR | $47,053 | $22.62 |
| 6 | Sioux City, IA | $46,900 | $22.55 |
| 7 | Boston, MA | $45,402 | $21.83 |
| 8 | Troy, MI | $45,391 | $21.82 |
| 9 | San Francisco, CA | $44,758 | $21.52 |
| 10 | Bismarck, ND | $44,652 | $21.47 |
| 11 | Orland Park, IL | $44,187 | $21.24 |
| 12 | New York, NY | $43,383 | $20.86 |
| 13 | Columbia, MO | $43,372 | $20.85 |
| 14 | Plano, TX | $42,012 | $20.20 |
| 15 | Oklahoma City, OK | $39,238 | $18.86 |
| 16 | Newark, OH | $38,903 | $18.70 |
| 17 | Columbia, SC | $37,131 | $17.85 |
| 18 | Denver, CO | $35,013 | $16.83 |
| 19 | Richmond, VA | $34,348 | $16.51 |
| 20 | Salt Lake City, UT | $34,197 | $16.44 |
Lender salary details
A lender's salary ranges from $25,000 a year at the 10th percentile to $55,000 at the 90th percentile.
What is a lender's salary?
| Percentile | Annual Salary | Monthly Salary | Hourly Rate |
|---|---|---|---|
| 90th Percentile | $55,000 | $4,583 | $26 |
| 75th Percentile | $46,000 | $3,833 | $22 |
| Average | $37,723 | $3,144 | $18 |
| 25th Percentile | $30,000 | $2,500 | $14 |
| 10th Percentile | $25,000 | $2,083 | $12 |
Highest paying lender jobs
The highest paying types of lenders are mortgage broker, bank officer, and senior underwriter.
| Job Title | Annual Salary | Monthly Salary | Hourly Rate | Job Openings |
|---|---|---|---|---|
| Home Mortgage Consultant | $36,437 | $3,036 | $17.52 | 53,987 |
| Mortgage Consultant | $38,934 | $3,245 | $18.72 | 24,057 |
| Loan Consultant | $38,876 | $3,240 | $18.69 | 23,448 |
| Escrow Officer | $50,270 | $4,189 | $24.17 | 62,077 |
| Loan Analyst | $37,857 | $3,155 | $18.20 | 24,756 |
| Loan Officer/Loan Processor | $46,753 | $3,896 | $22.48 | 71,801 |
Which companies pay lenders the most?
Lender salaries at Citi and GPAC are the highest-paying according to our most recent salary estimates. In addition, the average lender salary at companies like Morgan Stanley and MRI The Boston Group are highly competitive.
| Rank | Company | Average Salary | Hourly Rate |
|---|---|---|---|
| 1 | Citi | $47,389 | $22.78 |
| 2 | GPAC | $47,107 | $22.65 |
| 3 | Morgan Stanley | $46,947 | $22.57 |
| 4 | MRI The Boston Group | $46,169 | $22.20 |
| 5 | Management Recruiters International(MRI) | $42,828 | $20.59 |
| 6 | Cambridge Trust | $42,009 | $20.20 |
| 7 | BancorpSouth | $41,192 | $19.80 |
| 8 | The Bank of San Antonio | $41,072 | $19.75 |
| 9 | Axis | $41,052 | $19.74 |
| 10 | First Western Bank & Trust | $40,893 | $19.66 |
| 11 | The Bank, Inc. | $40,893 | $19.66 |
| 12 | Defiance State Bank | $40,870 | $19.65 |
| 13 | Americorps | $40,791 | $19.61 |
| 14 | Grandbridge Real Estate Capital | $40,710 | $19.57 |
| 15 | The Citizens National Bank of Athens | $40,331 | $19.39 |
| 16 | Great Southern Bank | $40,075 | $19.27 |
| 17 | Randstad North America, Inc. | $39,994 | $19.23 |
| 18 | Dahl Consulting | $39,893 | $19.18 |
| 19 | Robert Half | $39,763 | $19.12 |
| 20 | AUTOPAY Direct, Inc. | $39,396 | $18.94 |
Wage gap by gender, race and education
Lender salary trends
The average lender salary has risen by $3,498 over the last ten years. In 2014, the average lender earned $34,225 annually, but today, they earn $37,723 a year. That works out to a 0% change in pay for lenders over the last decade.
Compare lender salaries for cities or states with the national average over time.
Average lender salary over time
Compare lender salaries for individual cities or states with the national average.
- National Average
Lender salary by year
| Year | Avg. Salary | Hourly Rate | % Change |
|---|---|---|---|
| 2025 | $37,700 | $18.14 | +1.1% |
| 2024 | $37,300 | $17.94 | +0.4% |
| 2023 | $37,200 | $17.88 | -2.6% |
| 2022 | $38,100 | $18.33 | +1.6% |
| 2021 | $37,500 | $18.05 | +0.3% |
Recently added lender salaries
| Company | Job | Location | Date Added | Salary |
|---|---|---|---|---|
| Biggerpockets Inc. | Best Dscr Lender for Short Term Rental Investors-Host Financial | San Diego, CA | 12/16/2024 | $62,610 |
| Regions Bank | Home Improvement Financing Lender | Provo, UT | 12/11/2024 | $36,500 |
| Homebuyersrealty | Mortgage Lender Modesto, CA Contract | Modesto, CA | 12/11/2024 | $50,001 |
| Stearns Bank | SBA Lender | Nore, MN | 12/09/2024 | $125,000 |
| Collegiate Peaks Bank | Consumer Lender II | Denver, CO | 12/08/2024 | $68,871 |
| Levo Federal Credit Union | Consumer Lender-at | Vermillion, SD | 12/05/2024 | $40,697 |
| Levo Federal Credit Union | Consumer Lender-at | Sioux City, IA | 12/05/2024 | $40,697 |
| Levo Federal Credit Union | Consumer Lender-at | South Sioux City, NE | 12/05/2024 | $40,697 |
| United Wholesale Mortgage Corp.(DBA UWM | Tap In To WIN With Up To In Potential Incentives-Come Join The #1 Lender | Pontiac, MI | 11/20/2024 | $45,000 |
| IFF | Senior Lender | Grand Rapids, MI | 10/26/2024 | $73,000 |
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