As of March 01, 2025, the average annual salary for a Loan Closer in Michigan is $50,900. Salary.com reports that pay typically ranges from $45,500 to $57,900, with most professionals earning between $40,584 and $64,273.
| Annual Salary |
Monthly Pay |
Weekly Pay |
Hourly Wage |
|
| 75th Percentile | $58,624 | $4,885 | $1,127 | $28 |
| Average | $51,557 | $4,296 | $991 | $25 |
| 25th Percentile | $46,099 | $3,842 | $887 | $22 |
An entry-level Loan Closer with under 1 year experience makes about $48,488. With less than 2 years of experience, a mid-level Loan Closer makes around $49,443. After 2-4 years, the Loan Closer pay rises to about $51,991. Those senior Loan Closer with 5-8 years of experience earn roughly $53,641, and those Loan Closer having 8 years or more experience are expected to earn about $53,847 on average.
| Levels | Salary |
|---|---|
| Entry Level Loan Closer | $48,488 |
| Intermediate Level Loan Closer | $49,443 |
| Senior Level Loan Closer | $51,991 |
| Specialist Level Loan Closer | $53,641 |
| Expert Level Loan Closer | $53,847 |
| Entry Level | 6% |
| Mid Level | 4% |
| Senior Level | 1% |
| Top Level | 4% |
| Experienced | 4% |
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Loan Closer salary varies from city to city. Compared with national average salary of Loan Closer, the highest Loan Closer salary is in San Francisco, CA, where the Loan Closer salary is 25.0% above. The lowest Loan Closer salary is in Miami, FL, where the Loan Closer salary is 3.5% lower than national average salary.
| City, State | Price | Compared to national average |
|---|---|---|
| San Francisco, CA | $64,500 |
25.0%
|
| Washington, DC | $57,400 |
11.3%
|
| Miami, FL | $49,800 |
|
| Chicago, IL | $54,100 |
4.9%
|
| Boston, MA | $57,800 |
12.1%
|
| New York, NY | $60,300 |
16.8%
|
