Mortgage Loan Originator Salary in Providence, RI ()
Updated 49 days ago · 22 observed active listings
The salary landscape for Mortgage Loan Originators in Providence, RI, showcases a moderate range of earnings, with a trimmed average of $49,525, which is reflective of both local demand and the competitive nature of the financial services industry. The presence of major employers like Bank of America and Citizens Financial Group contributes to a steady demand for skilled professionals, while the salary distribution indicates that while some positions pay significantly more, many remain concentrated around the lower tiers, suggesting a saturation at the entry-level. The wide range from $20,000 to $140,000 suggests a mix of experience levels, with a scarcity of highly skilled originators driving up the upper-end salaries.
Salary Distribution
Key Insights
- The wide P10–P90 spread ($20,000–$140,000) reflects a diverse job market that includes both entry-level positions and highly experienced originators, indicating a significant variation in skills and experience among candidates.
- The relatively high number of open positions (22) suggests a competitive market for employers, indicating a demand for mortgage loan origination services, likely fueled by ongoing housing market activities.
- The tight salary clustering around the 25th and 75th percentiles ($40,000 and $60,000) reveals that many employers are focusing on hiring candidates with comparable experience levels, which can compress wages in the mid-range despite available positions.
- The concentration of major financial institutions in Providence enhances the local economy's need for mortgage professionals, but also places pressure on salary offers as employers compete for talent in a limited candidate pool.
- Cost of living factors in Providence may also impact salary offers, as employers must balance competitiveness in pay with the financial viability of their operations in a region where housing costs are rising.
Current Mortgage Loan Originator Jobs in Providence
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Citizens · Johnston, Providence County$118,255 – $118,255
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Citizens · Johnston, Providence County$108,156 – $108,156
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Bank of America · Central Falls, Providence County$95,098 – $95,098
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Charles Schwab · Providence, Providence County$94,819 – $94,819
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Bank of America · Providence, Providence County$75,000 – $85,000
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Citizens Financial Group · Johnston, Providence County$82,738 – $82,738
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Pinnacle Mortgage Corp · Providence, Providence County$73,003 – $73,003
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Bank of America · Johnston, Providence County$71,751 – $71,751
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Lendsure Mortgage Corp · Warwick, Kent County$55,000 – $68,000
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Bank of America · Providence, Providence County$66,741 – $66,741
Frequently Asked Questions
What is the average Mortgage Loan Originator salary in Providence, RI?
The average Mortgage Loan Originator salary in Providence, RI is $49,525 per year, with a range from $20,000 to $140,000.
How many Mortgage Loan Originator jobs are available in Providence?
There are currently 22 open Mortgage Loan Originator positions in Providence, RI.
What factors affect Mortgage Loan Originator salaries in Providence?
Mortgage Loan Originator salaries in Providence vary based on experience level, company size, industry sector, certifications, and demand. Cost of living in Providence also plays a significant role in compensation levels.
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Career Intelligence — Mortgage Loan Originator in Providence
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