$64,894
Avg. Base Salary (USD)
/ year
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.
Find your market worth – how it works:
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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.