The average pay for a Mortgage Broker is $59,665 per year. Most people move on to other jobs if they have more than 20 years' experience in this career.

$29,711 - $179,033
$30K
$60K
$180K
MEDIAN: $59,665
10%
50%
90%

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$11.19 - $22.78
$19
MEDIAN: $19.00
50%

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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
$29,711 - $179,033  
   
Bonus
$481.77 - $29,882  
Profit Sharing
$930  
Commission
$75,000  
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).
)
$29,502 - $178,126  
Country: United States | Currency: USD | Updated: 18 Jan 2017 | Individuals Reporting: 79
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
$19.37  
   
Overtime
$24.43  
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
$481.77 - $29,882  
   
Commission
$75,000  
Profit Sharing
$930  
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).
)
$29,502 - $178,126  
Country: United States | Currency: USD | Updated: 18 Jan 2017 | Individuals Reporting: 8

Find Out Exactly What You Should Be Paid

United States (change)

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Job Description for Mortgage Broker

A mortgage broker works as a go-between for people seeking a home loan and potential lenders. The broker typically has a list of lenders and their respective offerings and requirements; they then work with loan seekers to match them with the lender that best suits their needs. Mortgage brokers are typically paid a commission by the person signing the mortgage and a fee by the lending bank. Throughout the mortgage process, the broker helps facilitate communication between the bank and the borrower and works to ensure an expedient decision and signing process.

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Mortgage Broker Tasks

  • Interview and document credit, income, and financial history of clients.
  • Deploy marketing and sales strategies to attract new clients.
  • Mediate between the prospective homebuyer and the lending institution to underwrite and structure financial solutions.
  • Assess local mortgage market to find deals for client.
  • Apply for loans on behalf of borrower and collect documentation to pre-approve client.

Mortgage Broker Job Listings

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Pay by Experience Level for Mortgage Broker

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

Key Stats for Mortgage Broker

Gender

Female
37 %
Male
63 %

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 3 votes.
Less than 1 year
14%
1-4 years
34%
5-9 years
14%
10-19 years
28%
20 years or more
10%
Location:
Years in Fields/Career:
United States (change)

Experience Affects Mortgage Broker Salaries

Late-Career
up arrow 43%

Experienced
up arrow 34%

Mid-Career
up arrow 3%

National Average
$60,000

Entry-Level
up arrow 15%

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 3 votes.

Gender

Female
37 %
Male
63 %

Years of Experience

Less than 1 year
14%
1-4 years
34%
5-9 years
14%
10-19 years
28%
20 years or more
10%

Common Health Benefits

medical benefits
Medical: 59%
dental benefits
Dental: 43%
vision benefits
Vision: 35%
dental benefits
None: 35%
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