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As of August 01, 2026, the average salary for a Mortgage Loan Originator in Michigan is $50,136 per year, which breaks down to an hourly rate of $24.
However, a Mortgage Loan Originator's salary can vary significantly. Here’s a look at the typical salary range:
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Mortgage Loan Originator Salaries by Percentile
| Annual Salary |
Monthly Pay |
Weekly Pay |
Hourly Wage |
|
| 75th Percentile | $55,245 | $4,604 | $1,062 | $27 |
| Average | $50,136 | $4,178 | $964 | $24 |
| 25th Percentile | $44,137 | $3,678 | $849 | $21 |
Lake Michigan Credit Union - Traverse City, MI
DENALI HOME LOANS LLC - Southfield, MI
American First Funding - Southfield, MI
Mortgage Center - Detroit, MI
A Mortgage Loan Originator'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 Mortgage Loan Originator'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 |
|---|---|
| Mortgage ... Level Mortgage Loan Originator | $49,761 |
| Mortgage ... Level Mortgage Loan Originator | $62,488 |
| Mortgage ... Level Mortgage Loan Originator | $91,119 |
| Mortgage ... Level Mortgage Loan Originator | $93,612 |
| Mortgage ... Level Mortgage Loan Originator | $114,664 |
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 Mortgage Loan Originators. 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 Mortgage Loan Originator roles, the industry you choose can affect earning potential by as much as 35% (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 20% above the average. In contrast, Mortgage Loan Originator positions in Insurance or Business Services typically offer lower base pay, as these industries often view Mortgage Loan Originator as a support function rather than a direct revenue driver.
| Industry Sector | Average Annual Salary | Average Hourly Rate | Pay vs.Avg |
|---|---|---|---|
| Financial Services | $60,164 | $29.0 | 20% |
| Edu., Gov't. & Nonprofit | $52,643 | $25.0 | 5% |
Understanding how a Mortgage Loan Originator'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 | $55,245 | $4,604 | $1,062 | $27 |
| Average | $50,136 | $4,178 | $964 | $24 |
| 25th Percentile | $44,137 | $3,678 | $849 | $21 |
Ready to take the next step in your career? Browse thousands of current Mortgage Loan Originator job openings on our job board. Use the search bar below to find your perfect match.
Arbor Financial Credit Union
Portage, MI
Arbor Financial Credit Union | Portage, MI
Mortgage Loan Originator. As the Mortgage Loan Originator, you will build relationships within the community and guide members through the mortgage process... more
7 Days Ago
LAFCU
Lansing, MI
LAFCU | Lansing, MI
Job Title. Location 106 N Marketplace Blvd, Lansing, MI, 48917-7753, United States. Industry Mortgage/Lending, Sales, Credit Unions/Financial Institutions.... more
8 Days Ago
Financial Plus Credit Union - Michigan
Flint, MI
Financial Plus Credit Union - Michigan | Flint, MI
Mortgage Loan Originator. To assist members with their mortgage lending needs: analyze loan requests and make credit decisions based on mortgage lending po... more
8 Days Ago
Modern Mortgage Financial LLC
Farmington Hills, MI
Modern Mortgage Financial LLC | Farmington Hills, MI
Job Description. Job Description. We are seeking a Mortgage Loan Originator to become a part of our team. Must have MLO license. Responsibilities. Advise b... more
8 Days Ago
Fifth Third Bancorp
West Bloomfield, MI
Fifth Third Bancorp | West Bloomfield, MI
Mortgage Loan Originator. Make banking a Fifth Third better We connect great people to great opportunities. Are you ready to take the next step. Discover a... more
8 Days Ago
Arbor Financial Credit Union
Three Rivers, MI
Arbor Financial Credit Union | Three Rivers, MI
Mortgage Loan Originator. As the Mortgage Loan Originator, you will build relationships within the community and guide members through the mortgage process... more
9 Days Ago
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