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.

$22,301 - $132,000
$22K
$46K
$130K
MEDIAN: $46,006
10%
50%
90%

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$9.14 - $18.78
$9
$11
$19
MEDIAN: $11.00
10%
50%
90%

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$0$163K
Salary $22,301 - $132,000
Bonus $1,000 - $72,414
Profit Sharing $3,036
Commission $20,608 - $130,893
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).
)
$28,596 - $163,590
  • Country: United States
  • Currency: USD
  • Updated: 11 Jul 2017
  • Individuals Reporting: 89
Hourly Data $0$18
Hourly Rate $9.14 - $18.78
Overtime $14.50
Annual Data $0$163K
Bonus $1,000 - $72,414
Commission $20,608 - $130,893
Profit Sharing $3,036
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).
)
$28,596 - $163,590
  • Country: United States
  • Currency: USD
  • Updated: 11 Jul 2017
  • Individuals Reporting: 11

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

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
36 %
Male
64 %

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 13 votes.
Less than 1 year
12%
1-4 years
40%
5-9 years
9%
10-19 years
30%
20 years or more
9%
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Location:
Years in Fields/Career:
United States (change)

Experience Affects Mortgage Banker Salaries

Late-Career
▲20%

Experienced
▲14%

National Average
$69,000

Mid-Career
▼2%

▼24%

Skills That Affect Mortgage Banker Salaries

National Average
$69,000

Sales
▼9%

Mortgage Loans
▼42%

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 13 votes.

Gender

Female
36 %
Male
64 %

Years of Experience

Less than 1 year
12%
1-4 years
40%
5-9 years
9%
10-19 years
30%
20 years or more
9%

Common Health Benefits

medical benefits
Medical: 84%
dental benefits
Dental: 82%
vision benefits
Vision: 75%
no benefits
None: 15%
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