Mortgage Banker Salary in Detroit, Michigan

Mortgage Banker Salary in Detroit, MI

How much does a Mortgage Banker make in Detroit, MI?

As of April 01, 2025, the average annual salary for a Mortgage Banker in Detroit, MI is $116,401. Salary.com reports that pay typically ranges from $106,404 to $125,907, with most professionals earning between $97,302 and $134,561.

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Mortgage Banker Salaries by Percentile
Percentile Salary Location Last Updated
10th Percentile Mortgage Banker Salary $97,302 Detroit,MI April 01, 2025
25th Percentile Mortgage Banker Salary $106,404 Detroit,MI April 01, 2025
50th Percentile Mortgage Banker Salary $116,401 Detroit,MI April 01, 2025
75th Percentile Mortgage Banker Salary $125,907 Detroit,MI April 01, 2025
90th Percentile Mortgage Banker Salary $134,561 Detroit,MI April 01, 2025
25% $106,404 10% $97,302 90% $134,561 75% $125,907 $116,401 50%(Median) Didn’t find job title? Click
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What is a Mortgage Banker ?

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

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Understand the total compensation opportunity for a Mortgage Banker, base salary plus other pay elements

Average Base Salary

Core compensation

 
 
 
106404
125907
116401

Average Total Cash Compensation

Includes base and annual incentives

 
 
 
106404
125907
116401
These charts show the average base salary (core compensation), as well as the average total cash compensation for the job of Mortgage Banker in Detroit, MI. The base salary for Mortgage Banker ranges from $106,404 to $125,907 with the average base salary of $116,401. The total cash compensation, which includes base, and annual incentives, can vary anywhere from $106,404 to $125,907 with the average total cash compensation of $116,401.

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106404
125907

 

About Detroit, Michigan    Detroit (/dɪˈtrɔɪt/, locally also /ˈdiːtrɔɪt/; French: Détroit, lit. 'strait') is the largest and most populous city in the U.S. state of Michigan, th....More

Detroit, Michigan  area prices were up 1.2% from a year ago

Mortgage Banker Salary in popular cities: Grand Rapids, Warren, Sterling Heights

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