Average Mortgage Broker Salary

$58,274
Avg. SalaryShow Hourly Rate
$10,000
Bonus
$37,000
Commission
$3,000
Profit Sharing
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The average salary for a Mortgage Broker is $58,274.
10%
$30k
MEDIAN
$58k
90%
$126k
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United States (change)
Salary
$30k - $126k
Bonus
$1 - $35k
Profit Sharing
$0 - $3k
Commission
$12k - $105k
Total Pay
$30k - $142k

Your Market Worth Over Time

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Job Description for Mortgage Broker

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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Mortgage Broker Job Listings

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Popular Skills for Mortgage Broker

Skills in Sales are correlated to pay that is above average. Skills that pay less than market rate include Customer Service, Financial Analysis, Residential Loans and Mortgage Loans.

Pay by Experience Level for Mortgage Broker

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 $43,500 based on 16 salaries. An early career Mortgage Broker with 1-4 years of experience earns an average total compensation of $44,237 based on 31 salaries. A mid-career Mortgage Broker with 5-9 years of experience earns an average total compensation of $55,955 based on 15 salaries. An experienced Mortgage Broker with 10-19 years of experience earns an average total compensation of $72,456 based on 44 salaries. In their late career (20 years and higher), employees earn an average total compensation of $75,000.

Pay Difference by Location

Learn more about cost of living by city.

Years of Experience

This data is based on 123 survey responses.
Entry Level
13.0%
Early Career
25.2%
Mid Career
12.2%
Experienced
35.8%
Late Career
13.8%