Avg. Base Salary (USD)
The average salary for a Mortgage Broker is $64,630 in 2023
What is the Pay by Experience Level for Mortgage Brokers?
An entry-level Mortgage Broker with less than 1 year experience can expect to earn an average total compensation (includes tips, bonus, and overtime pay) of $46,750 based on 8 salaries. An early career Mortgage Broker with 1-4 years of experience earns an average total compensation of $59,520 based on 23 salaries. A mid-career …Read more
What Do Mortgage Brokers Do?
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 …Read more
How do Mortgage Brokers Rate Their Jobs?
FAQs About Mortgage Brokers
What is the highest pay for Mortgage Brokers?
Our data indicates that the highest pay for a Mortgage Broker is $152k / year
What is the lowest pay for Mortgage Brokers?
Our data indicates that the lowest pay for a Mortgage Broker is $39k / year
How can Mortgage Brokers increase their salary?
Increasing your pay as a Mortgage Broker is possible in different ways. Change of employer: Consider a career move to a new employer that is willing to pay higher for your skills. Level of Education: Gaining advanced degrees may allow this role to increase their income potential and qualify for promotions. Managing Experience: If you are a Mortgage Broker that oversees more junior Mortgage Brokers, this experience can increase the likelihood to earn more.