Mortgage Banker Salary

A Mortgage Banker earns an average salary of $46,999 per year. Most people with this job move on to other positions after 20 years in this career.

$21,572 - $121,462
$22K
$47K
$120K
MEDIAN: $46,999
10%
50%
90%

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$9.07 - $18.87
$9
$10
$19
MEDIAN: $10.33
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
$21,572 - $121,462  
   
Bonus
$2,500 - $65,000  
Profit Sharing
$3,075  
Commission
$25,000 - $137,455  
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).
)
$33,441 - $156,254  
Country: United States | Currency: USD | Updated: 25 Mar 2017 | Individuals Reporting: 98
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
$9.07 - $18.87  
   
Overtime
$15.10  
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
$2,500 - $65,000  
   
Commission
$25,000 - $137,455  
Profit Sharing
$3,075  
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).
)
$33,441 - $156,254  
Country: United States | Currency: USD | Updated: 25 Mar 2017 | Individuals Reporting: 10

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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

  • Conduct sales calls and presentations on a regular basis.
  • Develop marketing tools to introduce products to realtors and potential borrowers.
  • Contact referrals and respond to referral sources.
  • Establish and maintain relationships with realtors, builders and other business sources.
  • Explore and develop new methods for attracting business.

Mortgage Banker Job Listings

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Popular Employer Salaries for Mortgage Banker

Pay by Experience Level for Mortgage Banker

Pay by Experience for a Mortgage Banker has a positive trend. An entry-level Mortgage Banker with less than 5 years of experience can expect to earn an average total compensation of $52,000 based on 60 salaries provided by anonymous users. Average total compensation includes tips, bonus, and overtime pay. A Mortgage Banker with mid-career experience which includes employees with 5 to 10 years of experience can expect to earn an average total compensation of $67,000 based on 22 salaries. An experienced Mortgage Banker which includes employees with 10 to 20 years of experience can expect to earn an average total compensation of $78,000 based on 35 salaries. A Mortgage Banker with late-career experience which includes employees with greater than 20 years of experience can expect to earn an average total compensation of $83,000 based on 9 salaries.

Related Job Salaries

Key Stats for Mortgage Banker

Gender

Female
38 %
Male
62 %

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 10 votes.
Less than 1 year
9%
1-4 years
40%
5-9 years
12%
10-19 years
31%
20 years or more
8%
Location:
Years in Fields/Career:
United States (change)

Experience Affects Mortgage Banker Salaries

Late-Career
▲31%

Experienced
▲24%

Mid-Career
▲7%

National Average
$63,000

▼18%

Skills That Affect Mortgage Banker Salaries

Sales
▼0%

National Average
$63,000

Mortgage Loans
▼36%

Job Satisfaction

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

Gender

Female
38 %
Male
62 %

Years of Experience

Less than 1 year
9%
1-4 years
40%
5-9 years
12%
10-19 years
31%
20 years or more
8%

Common Health Benefits

medical benefits
Medical: 83%
dental benefits
Dental: 78%
vision benefits
Vision: 71%
no benefits
None: 16%