The average salary for a Mortgage Broker in Canada is C$50,449.
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C$31k - C$117k
C$1k - C$50k
C$0 - C$4k
C$0 - C$55k
C$32k - C$123k
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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 borrowe…Read more
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.
Job Satisfaction for Mortgage Broker
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Popular Skills for Mortgage Broker
Pay by Experience Level for Mortgage Broker
An early career Mortgage Broker with 1-4 years of experience earns an average total compensation (includes tips, bonus, and overtime pay) of C$49,493 based on 38 salaries. A mid-career Mortgage Broker with 5-9 years of experience earns an average total compensation of C$52,414 based on 10 salaries. An experienced Mortgage Broker with 10-19 years of experience earns an average total compensation of C$65,000 based on 18 salaries. In their late career (20 years and higher), employees earn an average total compensation of C$90,000.
Pay Difference by Location
Learn more about cost of living by city.
Employees with Mortgage Broker in their job title in Ottawa, Ontario earn an average of 68.5% more than the national average. These job titles also find higher than average salaries in Toronto, Ontario (18.9% more) and Surrey, British Columbia (9.0% more). The lowest salaries can be found in Calgary, Alberta (18.4% less).
Years of Experience
This data is based on 73 survey responses.