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$40,976 - AU$100,000
AU$41K
AU$57K
AU$100K
MEDIAN: AU$57,456
10%
50%
90%
AU$0AU$104K
Salary AU$40,976 - AU$100,000
Bonus AU$1,965
Profit Sharing AU$1,250
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$41,912 - AU$104,367
  • Country: Australia
  • Currency: AUD
  • Updated: 11 Jan 2018
  • Individuals Reporting: 44

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
46 %
Male
54 %

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 2 votes.
Less than 1 year
9%
1-4 years
57%
5-9 years
17%
10-19 years
15%
20 years or more
2%

Experience Affects Mortgage Broker Salaries

▲25%

▲12%

National Average
AU$59,000

▼2%

Job Satisfaction

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

Gender

Female
46 %
Male
54 %

Years of Experience

Less than 1 year
9%
1-4 years
57%
5-9 years
17%
10-19 years
15%
20 years or more
2%

Common Health Benefits

medical benefits
Medical: 14%
dental benefits
Dental:
vision benefits
Vision:
no benefits
None: 86%