The average salary for a Mortgage Banker is $44,483.
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$21k - $99k
$2k - $74k
$256 - $116k
$15k - $135k
$26k - $147k
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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…Read more
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.
Popular Employer Salaries for Mortgage Banker
The top respondents for the job title Mortgage Banker are from the companies Quicken Loans, Chase Bank and J.P. Morgan Chase & Co. (JPMCC). Reported salaries are highest at J.P. Morgan Chase & Co. (JPMCC) where the average pay is $46,361. Quicken Loans pays the lowest at around $24,490.
Mortgage Banker Job Listings
Popular Skills for Mortgage Banker
Customer Service Metrics
Skills in Customer Relations, Customer Service Metrics and Financial Modeling are correlated to pay that is above average. Skills that pay less than market rate include Customer Service and Sales.
Pay by Experience Level for Mortgage Banker
An entry-level Mortgage Banker with less than 1 year experience can expect to earn an average total compensation (includes tips, bonus, and overtime pay) of $27,514 based on 43 salaries. An early career Mortgage Banker with 1-4 years of experience earns an average total compensation of $33,100 based on 61 salaries. A mid-career Mortgage Banker with 5-9 years of experience earns an average total compensation of $48,758 based on 27 salaries. An experienced Mortgage Banker with 10-19 years of experience earns an average total compensation of $62,288 based on 44 salaries. In their late career (20 years and higher), employees earn an average total compensation of $86,087.
Pay Difference by Location
Learn more about cost of living by city.
Employees with Mortgage Banker in their job title in Cleveland, Ohio earn an average of 36.2% more than the national average. These job titles also find higher than average salaries in Seattle, Washington (20.3% more). The lowest salaries can be found in Detroit, Michigan (44.9% less), Houston, Texas (10.1% less) and Phoenix, Arizona (7.2% less).
Years of Experience
This data is based on 188 survey responses.
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