Average Mortgage Banker Salary

$64,894
Avg. Base Salary (USD)
10%
$26k
MEDIAN
$65k
90%
$217k

The average salary for a Mortgage Banker is $64,894 in 2024

Base Salary
$26k - $217k
Bonus
$32 - $83k
Profit Sharing
$2k - $7k
Commission
$19k - $251k
Total Pay
$37k - $239k
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What is the Pay by Experience Level for Mortgage Bankers?

What Do Mortgage Bankers Do?

Mortgage Banker Tasks
  • Establish and maintain relationships with realtors, builders and other business sources.
  • Explore and develop new methods for attracting business.
  • Contact referrals and respond to referral sources.
  • Conduct sales calls and presentations on a regular basis.
  • Develop marketing tools to introduce products to realtors and potential borrowers.
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How do Mortgage Bankers Rate Their Jobs?

3.3 out of 5
(7)
Satisfied
4Reviews
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FAQs About Mortgage Bankers

What is the highest pay for Mortgage Bankers?

Our data indicates that the highest pay for a Mortgage Banker is $217k / year

What is the lowest pay for Mortgage Bankers?

Our data indicates that the lowest pay for a Mortgage Banker is $26k / year

How can Mortgage Bankers increase their salary?

Increasing your pay as a Mortgage Banker is possible in different ways. Change of employer: Consider a career move to a new employer that is willing to pay higher for your skills. Level of Education: Gaining advanced degrees may allow this role to increase their income potential and qualify for promotions. Managing Experience: If you are a Mortgage Banker that oversees more junior Mortgage Bankers, this experience can increase the likelihood to earn more.