Mortgage Banker Salary in 2026
Originate and process mortgage loans from application through closing.
Median Salary
$76,690
$6,391/mo
Entry Level
$44,200
starting pay
Senior Level
$122,900
experienced
Job Growth
0%
10-yr outlook
BLS OEWS May 2025 · official national figures
BLS reports Loan Officers (SOC 13-2072, the closest published occupation to Mortgage Banker) at a national median of $76,690 per year (mean $87,790), or $36.87 per hour, with 274,330 people employed nationwide. The median above is this BLS figure; the entry, senior and top tiers are Salario estimates calibrated to it. Source: BLS Occupational Employment and Wage Statistics, May 2025 release.
Mortgage Banker Overview
Originate and process mortgage loans from application through closing.
Education
Bachelor's Degree
Experience
2-4 years
Industry
Finance
Total Jobs (US)
274K
5-Year Growth
+15%
Category
Finance
Hourly Rate
$36.87/hr
Monthly Pay
$6,391
Mortgage Banker Salary Calculator
Adjust your state and experience level to see the estimated Mortgage Banker salary in your area.
Mid Career (5-9 yrs)
Estimated Mortgage Banker Salary
$96,000
$8,000/month · $3,692/biweekly · $46.15/hr
Mortgage Banker Salary Range
Salary distribution from entry-level to top earners in the Mortgage Banker field.
Entry-level Mortgage Bankers earn around $44,200, while the top 10% earn $147,500 or more.
Top Paying States for Mortgage Bankers
| State | Est. Median Salary | vs National |
|---|---|---|
| California | $90,000 | +$13,310 |
| New York | $88,000 | +$11,310 |
| Texas | $75,000 | $-1,690 |
| Florida | $75,000 | $-1,690 |
| Arizona | $74,000 | $-2,690 |
Top Paying Cities for Mortgage Bankers
| City | Est. Median Salary | vs National |
|---|---|---|
| New York | $90,000 | +$13,310 |
| Los Angeles | $86,000 | +$9,310 |
| Miami | $78,000 | +$1,310 |
| Houston | $76,000 | $-690 |
| Phoenix | $74,000 | $-2,690 |
City figures are Salario estimates that scale the national median by a city cost-of-labor multiplier; BLS does not publish a metro-level series for this title.
Mortgage Banker Salary by City
Published city-level wage and take-home pay guides for Mortgage Banker.
Required Skills & Certifications
Key Skills
Certifications
Mortgage Banker Career Progression
Typical salary growth path for a Mortgage Banker from entry level to expert.
$44,200
0-2 years
$84,000
3-7 years
$122,900
8-14 years
$172,100
15+ years
Related Finance Jobs
Mortgage Banker Salary FAQ
How much does a Mortgage Banker make in 2026?
The median salary for a Mortgage Banker in the United States is $76,690 per year, the BLS OEWS May 2025 national median for Loan Officers (SOC 13-2072); the mean is $87,790. Salario's calibrated tiers put entry-level positions around $44,200, senior professionals around $122,900, and top earners at $172,100 or more annually.
What education is needed to become a Mortgage Banker?
A Mortgage Banker typically requires a Bachelor's Degree with 2-4 years of experience. Key skills include Loan Origination, Underwriting, Compliance. Relevant certifications such as NMLS License or State License can boost earning potential and career advancement.
What is the job outlook for Mortgage Bankers?
The job market for Mortgage Bankers is projected to grow by 0% over the next decade. There are currently approximately 274K Mortgage Banker positions in the US. Salary growth over the past 5 years has been approximately 15%, reflecting moderate demand for this role.
Which states pay Mortgage Bankers the most?
The highest-paying states for Mortgage Bankers include California, New York, Texas. In California, the median salary is approximately $90,000. However, cost of living varies significantly, so adjusted purchasing power should be considered when comparing salaries across states.
How can I increase my Mortgage Banker salary?
To increase your Mortgage Banker salary, focus on gaining expertise in high-demand skills like Loan Origination and Underwriting. Pursue certifications such as NMLS License. Consider relocating to higher-paying markets like Los Angeles. With 2-4 years of experience, you can progress from $44,200 to $122,900 or more.
Methodology & Data Sources: Mortgage Banker Salary
How we calculate Mortgage Banker salary data: The national median is the official BLS OEWS May 2025 annual median wage for Loan Officers (SOC 13-2072), retrieved from the BLS Public Data API. The entry, senior and top tiers are a Salario model: the shape of the distribution is Salario's, rescaled so that its median equals the BLS median. State and most city figures are Salario estimates that apply cost-of-labor multipliers to that median.
- National median salary: $76,690, BLS OEWS May 2025 annual median for Loan Officers; BLS mean $87,790; BLS hourly median $36.87.
- Entry-level ($44,200) and senior-level ($122,900) are Salario tiers calibrated to the BLS median; they are not BLS percentiles. BLS publishes P10/P25/P75/P90 wages for this occupation in its OEWS tables.
- Job outlook: 0% projected growth is Salario's outlook figure; compare with the BLS Employment Projections program. BLS OEWS May 2025 counts 274,330 Loan Officers jobs nationwide.
- 5-year salary growth: 15% is a Salario estimate of past 5-year wage growth for the Finance sector, informed by the BLS Employment Cost Index.
- Education requirement: Bachelor's Degree, per BLS Occupational Outlook Handbook entry for this occupation.
- State and city estimates apply Salario cost-of-labor multipliers to the national median of $76,690; city rows marked "BLS metro" are real OEWS metropolitan-area medians instead.
Authoritative US data sources for Mortgage Banker compensation:
- BLS Occupational Employment and Wage Statistics (OEWS), national and metro-area salary data
- BLS Occupational Outlook Handbook, Mortgage Banker job projections, education, and career outlook
- BLS Employment Projections, 10-year occupation growth and decline data
- BLS Employment Cost Index, quarterly compensation trend data for Finance
- BLS Consumer Price Index (CPI-U), regional inflation for cost-of-living wage adjustments
- IRS Revenue Procedure 2025-32 summary, 2026 federal tax brackets and standard deductions
Disclaimer: Mortgage Banker salary figures are statistical estimates for general guidance. Actual compensation depends on employer, location, negotiation, specific skills (Loan Origination, Underwriting, Compliance), certifications, and industry conditions. Always verify with multiple sources including current job listings, recruiter data, and direct employer offers before making career decisions.
Reviewed by Harlan Voss · Last updated May 17, 2026 · BLS figures: OEWS May 2025 release (published May 2026), retrieved from the BLS API on September 17, 2026
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