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Director of Mortgage Banking Salary in Minnesota

How much does a Director of Mortgage Banking make in Minnesota? As of September 01, 2026, the average salary for a Director of Mortgage Banking in Minnesota is $66,523 per year, which breaks down to an hourly rate of $32.

However, a Director of Mortgage Banking's salary can vary significantly. Here's a look at the typical salary range:

  • Top Earners (90th percentile): $75,484
  • Majority Range (25th-75th percentile): $61,686 to $71,213
  • Entry-Level (10th percentile): $57,282
Salary Factors Salary by Experience Related Job Salaries Top Paying Cities Explore Related Jobs

Check out Director of Mortgage Banking Job Openings in Minnesota

Key Factors That Influence Director of Mortgage Banking Salaries

A Director of Mortgage Banking's salary isn't a fixed number. It's shaped by several important factors. Below, we'll explore how your years of experience, geographic location and company size can directly affect your earning potential.

How Experience Level Affects Director of Mortgage Banking Salaries?

Experience is a primary driver of a Director of Mortgage Banking's salary. As you build your skills and take on more complex tasks, your compensation generally increases. Here's how the average salary grows at different career stages:

  • Entry-Level (less than 1 year): $52,195
  • Early Career (1-2 years): $65,546
  • Mid-Level (2-4 years): $95,589
  • Senior-Level (5-8 years): $98,212
  • Expert (over 8 years): $120,292
Job RoleYears of ExperienceAverage Salary
Mortgage Loan Officer I less than 1 year $52,195
Director of Mortgage Banking 1-2 years $65,546
Mortgage Loan Officer III 2-4 years $95,589
Mortgage Lending Assistant Manager 5-8 years $98,212
Mortgage Lending Manager over 8 years $120,292

How Do Director of Mortgage Banking Salaries Vary from State to State?

Your salary can change significantly depending on where you work. States with a higher cost of living and strong industrial sectors often pay more to attract Director of Mortgage Bankings. For example, consider the average annual salaries in these key locations:

  • District of Columbia: $71,977.
  • California: $71,704.
  • Massachusetts: $70,749.

Top Paying Cities for Director of Mortgage Banking

Salaries can also vary between different cities. Major metropolitan areas or cities with a high demand for technicians often offer more competitive pay. Here are a few examples of average annual salaries in different U.S. cities:

  • Conger: $63,691
  • Courtland: $63,618
  • Darfur: $63,291

Director of Mortgage Banking Salary by Industry: Top Paying Sectors

For Director of Mortgage Banking roles, the industry you choose can affect earning potential by as much as 25% (the gap between the highest and lowest paying industries). Data shows that the Financial Services and Edu., Gov't. & Nonprofit sectors offer the strongest compensation, at 10% above the average. In contrast, Director of Mortgage Banking positions in Business Services or Insurance typically offer lower base pay, as these industries often view Director of Mortgage Banking as a support function rather than a direct revenue driver.

The top paying industries for a Director of Mortgage Banking

Industry Sector Average Annual Salary Average Hourly Rate Pay vs.Avg
Financial Services $73,175 $35.0 10%
Edu., Gov't. & Nonprofit $69,849 $34.0 5%

Director of Mortgage Banking Salary: Hourly Rate, Weekly Pay, and Monthly Pay

Understanding how a Director of Mortgage Banking's annual salary breaks down can help with budgeting. Below, you can see the average hourly rate, weekly pay, and monthly pay for this role. Use the buttons to switch between different pay periods.

  • Yearly
  • Monthly
  • Weekly
  • Hourly
  • Table View
Last Updated on September 01, 2026
$61,686
Average $66,523/year
$71,213
$5,141
Average $5,544/month
$5,934
$1,186
Average $1,279/week
$1,369
$30
Average $32/hour
$34
Annual Salary Monthly Pay Weekly Pay Hourly Wage
75th Percentile $71,213 $5,934 $1,369 $34
Average $66,523 $5,544 $1,279 $32
25th Percentile $61,686 $5,141 $1,186 $30

Find Your Next Director of Mortgage Banking Job

Ready to take the next step in your career? Browse thousands of current Director of Mortgage Banking job openings on our job board. Use the search bar below to find your perfect match.

  • Metric Geo | CUPERTINO, CA

    Director of Mortgage Operations&amp Product Strategy

    Metric Geo | CUPERTINO, CA

    Director of Mortgage Operations & Product Strategy. 💰. $150K–$300K annually. depending on experience and scope. 📍. Cupertino, CA | Full-Time | 100% On-Si... more

    6 Days Ago

  • Zillow | SCOTTSDALE, AZ

    Mortgage Loan Officer

    Zillow | SCOTTSDALE, AZ

    Zillow is seeking a Remote Mortgage Loan Officer to guide customers through home financing across our nationwide marketplace. In this fully remote role, yo... more

    3 Days Ago

  • Generations Home Loans | PARKROSE, OR

    Mortgage Loan Officer

    Generations Home Loans | PARKROSE, OR

    Generations Home Loans is seeking a motivated Mortgage Loan Officer to join our Financial Services team in the Banking, Insurance & Investment industry. Yo... more

    3 Days Ago

  • Generations Home Loans | PONDERAY, ID

    Mortgage Loan Officer

    Generations Home Loans | PONDERAY, ID

    Generations Home Loans is seeking a motivated Mortgage Loan Officer to join our Financial Services team in the Banking, Insurance & Investment industry. Yo... more

    4 Days Ago

  • Zillow | QUIVIRA, KS

    Mortgage Loan Officer

    Zillow | QUIVIRA, KS

    As a Mortgage Loan Officer at Zillow, you’ll guide homebuyers through the financing process, from pre-qualification to closing. You will consult with custo... more

    4 Days Ago

  • Generations Home Loans | LAKE OSWEGO, OR

    Mortgage Loan Officer

    Generations Home Loans | LAKE OSWEGO, OR

    Generations Home Loans is seeking a motivated Mortgage Loan Officer to join our Financial Services team in the Banking, Insurance & Investment industry. Yo... more

    4 Days Ago

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Where Does Our Salary Data Come From?

Salary.com salary estimates, histograms, trends, and comparisons are derived from both employer job postings and third-party data sources. We also provide multiple percentiles of salary information for your reference, click here to know Why the Salary Midpoint Formula Is Crucial to Getting Pay Equity Right. With more online, real-time compensation data than any other website, Salary.com helps you determine your exact pay target.

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