Mortgage Banker Salary in Richmond, Virginia

Mortgage Banker Salary in Richmond, VA

How much does a Mortgage Banker make in Richmond, VA?

As of March 01, 2025, the average annual salary for a Mortgage Banker in Richmond, VA is $122,240. Salary.com reports that pay typically ranges from $114,461 to $130,700, with most professionals earning between $107,379 and $138,402.

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Mortgage Banker Salaries by Percentile
Percentile Salary Location Last Updated
10th Percentile Mortgage Banker Salary $107,379 Richmond,VA March 01, 2025
25th Percentile Mortgage Banker Salary $114,461 Richmond,VA March 01, 2025
50th Percentile Mortgage Banker Salary $122,240 Richmond,VA March 01, 2025
75th Percentile Mortgage Banker Salary $130,700 Richmond,VA March 01, 2025
90th Percentile Mortgage Banker Salary $138,402 Richmond,VA March 01, 2025
25% $114,461 10% $107,379 90% $138,402 75% $130,700 $122,240 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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Average Base Salary

Core compensation

 
 
 
114461
130700
122240

Average Total Cash Compensation

Includes base and annual incentives

 
 
 
117372
142888
128539
These charts show the average base salary (core compensation), as well as the average total cash compensation for the job of Mortgage Banker in Richmond, VA. The base salary for Mortgage Banker ranges from $114,461 to $130,700 with the average base salary of $122,240. The total cash compensation, which includes base, and annual incentives, can vary anywhere from $117,372 to $142,888 with the average total cash compensation of $128,539.

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114461
130700

 

About Richmond, Virginia    Richmond (/ˈrɪtʃmənd/) is the capital of the Commonwealth of Virginia in the United States. It is the center of the Richmond Metropolitan Statistical ....More

Richmond, Virginia  area prices were up 1.2% from a year ago

Mortgage Banker Salary in popular cities: Virginia Beach, Norfolk, Chesapeake

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