As of April 01, 2025, the average annual salary for a Mortgage Banker in Michigan is $114,620. Salary.com reports that pay typically ranges from $104,776 to $123,981, with most professionals earning between $95,814 and $132,503.
| Percentile | Salary | Location | Last Updated |
| 10th Percentile Mortgage Banker Salary | $95,814 | MI | April 01, 2025 |
| 25th Percentile Mortgage Banker Salary | $104,776 | MI | April 01, 2025 |
| 50th Percentile Mortgage Banker Salary | $114,620 | MI | April 01, 2025 |
| 75th Percentile Mortgage Banker Salary | $123,981 | MI | April 01, 2025 |
| 90th Percentile Mortgage Banker Salary | $132,503 | MI | April 01, 2025 |
Mortgage bank is a bank that specializes in originating and/or servicing mortgage loans. In the US a mortgage bank is a state-licensed banking entity that makes mortgage loans directly to consumers. The difference between a mortgage banker and a mortgage broker is that the mortgage banker funds loans with its own capital. Generally, a mortgage bank originates a loan and places it on a pre-established warehouse line of credit until the loan can be sold to an investor, which are typically large institutions. The credit risk is typically absorbed by the Agencies, which include Fannie Mae, or ...
Source: Wikipedia (as of 04/25/2019). Read more from Wikipedia
See user submitted job responsibilities for Mortgage Banker.
| Location | Avg. Salary | Date Updated |
|---|---|---|
| Location Taylor, MI | Avg. Salary $125,764 | Date Updated April 01, 2025 |
| Location Acme, MI | Avg. Salary $117,740 | Date Updated April 01, 2025 |
| Location Ada, MI | Avg. Salary $120,423 | Date Updated April 01, 2025 |
| Location Addison, MI | Avg. Salary $124,554 | Date Updated April 01, 2025 |
| Location Adrian, MI | Avg. Salary $123,219 | Date Updated April 01, 2025 |
| Location Afton, MI | Avg. Salary $117,035 | Date Updated April 01, 2025 |
| Location Ahmeek, MI | Avg. Salary $119,176 | Date Updated April 01, 2025 |
| Location Akron, MI | Avg. Salary $117,174 | Date Updated April 01, 2025 |
| Location Alanson, MI | Avg. Salary $117,035 | Date Updated April 01, 2025 |
| Location Alba, MI | Avg. Salary $117,035 | Date Updated April 01, 2025 |
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About Michigan Michigan consists of two peninsulas that lie between 82°30' to about 90°30' west longitude, and are separated by the Straits of Mackinac. The 45th par....More
Learn more about: Compensation Packages, Employee Flight Risk, Gender Pay Gap, Job Openings for This Role
Jobs with a similar salary range to Mortgage Banker : Closing Team Lead, Mortgage Production Manager, Mortgage Account Manager
