Average Mortgage Banker Salary

$44,483
Avg. SalaryShow Hourly Rate
$17,500
Bonus
$55,000
Commission
$2,948
Profit Sharing
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The average salary for a Mortgage Banker is $44,483.
10%
$21k
10%
$44k
50%
$99k
90%
90%
MEDIAN $44,483
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United States (change)
Salary
$21k - $99k
Bonus
$2k - $74k
Profit Sharing
$256 - $116k
Commission
$15k - $135k
Total Pay
$26k - $147k

Your Market Worth Over Time

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Job Description for Mortgage Banker

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

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.
Entry Level
22.9%
Early Career
32.4%
Mid Career
14.4%
Experienced
23.4%
Late Career
6.9%

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