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As of August 01, 2026, the average salary for a Loan Consultant in Michigan is $52,985 per year, which breaks down to an hourly rate of $25.
However, a Loan Consultant's salary can vary significantly. Here’s a look at the typical salary range:
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Loan Consultant Salaries by Percentile
| Annual Salary |
Monthly Pay |
Weekly Pay |
Hourly Wage |
|
| 75th Percentile | $61,057 | $5,088 | $1,174 | $29 |
| Average | $52,985 | $4,415 | $1,019 | $25 |
| 25th Percentile | $46,375 | $3,865 | $892 | $22 |
Reliance Savings Bank - ALTOONA, PA
Lutheran Social Services of WI & Upper MI - EAU CLAIRE, WI
Lutheran Social Services of WI & Upper MI - MARSHFIELD, WI
Lutheran Social Services of WI & Upper MI - GRANTON, WI
A Loan Consultant'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.
Experience is a primary driver of a Loan Consultant'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:
| Levels | Salary |
|---|---|
| Loan Cons... Level Loan Consultant | $52,392 |
| Lending O... Level Loan Consultant | $73,347 |
| Lending O... Level Loan Consultant | $94,401 |
| Vice Pres... Level Loan Consultant | $181,236 |
| SVP of Le... Level Loan Consultant | $213,060 |
What Am I Worth?
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 Loan Consultants. For example, consider the average annual salaries in these key locations:
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:
For Loan Consultant roles, the industry you choose can impact your earning potential by as much as 40% (the gap between the highest and lowest paying industries). Data shows that the highest-paying industry, Business Services, offers compensation 20% above the average. Conversely, Loan Consultant positions in Edu., Gov't. & Nonprofit typically offer lower base pay, as this sector often view Loan Consultant as a support function rather than a direct revenue driver.
| Industry Sector | Average Annual Salary | Average Hourly Rate | Pay vs.Avg |
|---|---|---|---|
| Business Services | $63,583 | $31.0 | 20% |
Understanding how a Loan Consultant'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.
| Annual Salary | Monthly Pay | Weekly Pay | Hourly Wage | |
|---|---|---|---|---|
| 75th Percentile | $61,057 | $5,088 | $1,174 | $29 |
| Average | $52,985 | $4,415 | $1,019 | $25 |
| 25th Percentile | $46,375 | $3,865 | $892 | $22 |
Ready to take the next step in your career? Browse thousands of current Loan Consultant job openings on our job board. Use the search bar below to find your perfect match.
Community Financial Services Bank
BENTON, KY
Community Financial Services Bank | BENTON, KY
Loan Workout Specialist (Part-Time) Job Category: General Requisition Number: LOANW001287 Posted: August 6, 2026 Part-Time Benton, KY 42025, USA The purpos... more
4 Days Ago
Reliance Savings Bank
ALTOONA, PA
Reliance Savings Bank | ALTOONA, PA
Build Your Banking Career with Reliance Bank Reliance Bank is seeking a detail-oriented and customer-focused Retail Loan Operations Specialist I to join ou... more
8 Days Ago
Altra Federal Credit Union
CLARKSVILLE, TN
Altra Federal Credit Union | CLARKSVILLE, TN
Real Estate / Mortgage Loan Originator, Madison Street Office, Clarksville TN Since 1931, Altra Federal Credit Union has been committed to helping members ... more
3 Days Ago
Lendmark Financial Services, Inc.
JOHNSON CITY, NY
Lendmark Financial Services, Inc. | JOHNSON CITY, NY
At Lendmark Financial Services, we believe the success of our company is specifically attributable to the quality of our employees and their commitment to ... more
3 Days Ago
Lendmark Financial Services, Inc.
RANCHO CUCAMONGA, CA
Lendmark Financial Services, Inc. | RANCHO CUCAMONGA, CA
At Lendmark Financial Services, we believe the success of our company is specifically attributable to the quality of our employees and their commitment to ... more
4 Days Ago
Lendmark Financial Services, Inc.
SAN ANTONIO, TX
Lendmark Financial Services, Inc. | SAN ANTONIO, TX
At Lendmark Financial Services, we believe the success of our company is specifically attributable to the quality of our employees and their commitment to ... more
4 Days Ago
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