AU$57,546
Avg. Salary

Average additional compensation for this job:

Bonus

AU$2,000

Commission

AU$45,000

A Mortgage Broker in Melbourne, Victoria earns an average salary of AU$59,072 per year. Most people move on to other jobs if they have more than 20 years' experience in this field. Experience has a moderate effect on income for this job.

AU$40,425 - AU$100,671
AU$40K
AU$58K
AU$100K
MEDIAN: AU$57,546
10%
50%
90%
AU$0AU$115K
Salary AU$40,425 - AU$100,671
Bonus AU$2,000
Commission AU$45,000
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).
)
AU$41,413 - AU$115,064
  • Country: Australia
  • Currency: AUD
  • Updated: 18 Aug 2018
  • Individuals Reporting: 38

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

Key Stats for Mortgage Broker

Gender

Female
57 %
Male
43 %

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 2 votes.
Less than 1 year
8%
1-4 years
55%
5-9 years
23%
10-19 years
15%

Experience Affects Mortgage Broker Salaries

▲22%

▲10%

National Average
AU$60,000

▼4%

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 2 votes.

Gender

Female
57 %
Male
43 %

Years of Experience

Less than 1 year
8%
1-4 years
55%
5-9 years
23%
10-19 years
15%

Common Health Benefits

medical benefits
Medical: 11%
dental benefits
Dental:
vision benefits
Vision:
no benefits
None: 89%