A Mortgage Banker earns an average salary of $40,525 per year. Most people with this job move on to other positions after 20 years in this career.

$20,855 - $116,484
$21K
$41K
$120K
MEDIAN: $40,524
10%
50%
90%

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$8.64 - $19.58
$8
$10
$20
MEDIAN: $10
10%
50%
90%

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National Salary Data (?
XAll compensation data shown are gross 10th to 90th percentile ranges. Take the PayScale Survey to find out how location influences pay for this job.
)
$0$60K$120K$180K
Salary
$20,855 - $116,484  
   
Bonus
$2,000 - $61,013  
Profit Sharing
$1,500  
Commission
$14,681 - $171,140  
Total Pay (?
XTotal Pay combines base annual salary or hourly wage, bonuses, profit sharing, tips, commissions, overtime pay and other forms of cash earnings, as applicable for this job. It does not include equity (stock) compensation, cash value of retirement benefits, or the value of other non-cash benefits (e.g. healthcare).
)
$30,026 - $128,092  
Country: United States | Currency: USD | Updated: 28 Oct 2016 | Individuals Reporting: 96
National Hourly Rate Data (?
XAll compensation data shown are gross 10th to 90th percentile ranges. Take the PayScale Survey to find out how location influences pay for this job.
)
$0$30$60$90
Hourly Rate
$8.64 - $19.58  
   
Overtime
$4.53 - $30.79  
National Annualized Data (?
XAll compensation data shown are gross 10th to 90th percentile ranges. Take the PayScale Survey to find out how location influences pay for this job.
)
$0$60K$120K$180K
Bonus
$2,000 - $61,013  
   
Commission
$14,681 - $171,140  
Profit Sharing
$1,500  
Total Pay (?
XTotal Pay combines base annual salary or hourly wage, bonuses, profit sharing, tips, commissions, overtime pay and other forms of cash earnings, as applicable for this job. It does not include equity (stock) compensation, cash value of retirement benefits, or the value of other non-cash benefits (e.g. healthcare).
)
$30,026 - $128,092  
Country: United States | Currency: USD | Updated: 28 Oct 2016 | Individuals Reporting: 15

Find Out Exactly What You Should Be Paid

United States (change)

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Job Description for Mortgage Banker

Mortgage bankers work for financial companies which provide mortgage loans to businesses and individuals. These bankers serve as liasons between customers or real estate agents and the banking institution, and generally assist customers and agents throughout loan processes, from application to closing. Another area of focus is obtaining pre-qualification for clients and encouraging them to apply for loans, so it is important to be customer-oriented and have strong social and communication skills.

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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.

Mortgage Banker Job Listings

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Popular Employer Salaries for Mortgage Banker

Pay by Experience Level for Mortgage Banker

Median of all compensation (including tips, bonus, and overtime) by years of experience.

Related Job Salaries

Key Stats for Mortgage Banker

Gender

Female
45 %
Male
55 %

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 10 votes.
Less than 1 year
11%
1-4 years
40%
5-9 years
17%
10-19 years
25%
20 years or more
7%
Location:
Years in Fields/Career:
United States (change)

Experience Affects Mortgage Banker Salaries

Late-Career
up arrow 61%

Experienced
up arrow 20%

Mid-Career
up arrow 12%

National Average
$61,000

Entry-Level
up arrow 16%

Skills That Affect Mortgage Banker Salaries

Sales
up arrow 2%

National Average
$61,000

Mortgage Loans
up arrow 34%

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 10 votes.

Gender

Female
45 %
Male
55 %

Years of Experience

Less than 1 year
11%
1-4 years
40%
5-9 years
17%
10-19 years
25%
20 years or more
7%

Common Health Benefits

medical benefits
Medical: 84%
dental benefits
Dental: 79%
vision benefits
Vision: 72%
dental benefits
None: 14%
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