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Loan Officers Salary in Michigan
Ranked #31 of 51 · MI
Salary Distribution (10th–90th percentile)
About 80% of loan officerss in Michigan earn between $36,830 and $135,700. The blue band is the middle 50% (P25–P75); the dot marks the median.
Compared to the U.S.
The mean loan officers salary in Michigan is $83,990, about 4.3% below the U.S. average ($87,790). That works out to roughly $40/hr at 2,080 hours per year.
Metro Areas in Michigan
| Metro area | Median | Mean | Employment |
|---|---|---|---|
| Ann Arbor, MI | $77,820 | $81,990 | 320 |
| Detroit-Warren-Dearborn, MI | $76,260 | $85,940 | 7,200 |
| Mid Michigan nonmetropolitan area | $74,130 | $81,830 | 240 |
| Lansing-East Lansing, MI | $72,890 | $88,080 | 420 |
| Southern Michigan nonmetropolitan area | $72,850 | $85,370 | 180 |
| Kalamazoo-Portage, MI | $72,330 | $89,060 | 140 |
| Grand Rapids-Wyoming-Kentwood, MI | $71,760 | $82,320 | 790 |
| Northern Michigan nonmetropolitan area | $69,180 | $85,900 | 220 |
Frequently Asked Questions
How much do loan officers make in Michigan?
The median loan officers salary in Michigan is $74,470 per year (mean $83,990), and about 80% earn between $36,830 and $135,700.
How much do loan officers make per hour in Michigan?
Roughly $40 per hour, based on a mean annual wage of $83,990 and 2,080 work hours per year.
Is Michigan a high-paying state for loan officers?
Michigan ranks #31 of 51 states for loan officers pay. Its mean salary of $83,990 is about 4.3% below the U.S. average of $87,790.
Which metro areas in Michigan pay loan officers the most?
The highest-paying metro areas in Michigan for loan officers are Ann Arbor, MI ($77,820), Detroit-Warren-Dearborn, MI ($76,260), Mid Michigan nonmetropolitan area ($74,130), by median annual wage.