Bank Loan Officer Salaries in Michigan
How Much Does a Bank Loan Officer Make in Michigan?
Updated April 01, 2025
As of April 01, 2025,
the average annual pay of Bank Loan Officer in Michigan is $48,594.
While Salary.com is seeing that Bank Loan Officer salary in MI can go up to $62,170
or down to $30,523, but most earn between $39,135 and $55,700.
Salary ranges can vary widely depending on many important factors,
including education, certifications, additional skills, and your experience levels.
With more online, real-time compensation data than any other website, Salary.com helps you determine your exact pay target.
Related Job Titles to Bank Loan Officer
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Similar Job Salaries to Bank Loan Officer by Company
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| Company | average base salary in (usd) | range |
|---|---|---|
|
EXPERT MORTGAGE LENDING LLC
Loan Officer
|
$76,410/yr
|
RANGE: $68,664 - $84,156
|
|
Inspire Home Loans Inc.
Loan Officer
|
$76,694/yr
|
RANGE: $68,919 - $84,469
|
|
Inspire Home Loans
Loan Officer
|
$76,725/yr
|
RANGE: $68,947 - $84,503
|
|
HOME ADVANTAGE LENDING LLC
Loan Officer
|
$76,694/yr
|
RANGE: $68,919 - $84,469
|
|
Newrez LLC
Loan Officer
|
$95,750/yr
|
RANGE: $84,852 - $106,648
|
|
USA Mortgage Plan
Loan Officer
|
$63,044/yr
|
RANGE: $57,102 - $68,987
|
|
Availa Bank
Bank Loan Officer
|
$59,925/yr
|
RANGE: $53,277 - $66,574
|
|
Allied Universal
Security Officer Bank Patrol
|
$47,550/yr
|
RANGE: $41,903 - $53,197
|
|
Allied Universal
Security Officer - Bank
|
$45,764/yr
|
RANGE: $40,543 - $50,984
|
|
Dow Credit Union
Consumer Loan Officer
|
$59,484/yr
|
RANGE: $52,970 - $65,998
|
Top 10 Highest Paying Cities For Bank Loan Officer Jobs in Michigan
It is important to understand how location impacts your career prospects in the United States.
There are some cities where a Bank Loan Officer can find a job easily with a greater salary paid then achieve a higher standard of living.
Below is the top cities list for Bank Loan Officer job salaries in Michigan.
Some cities can pay higher salaries for Bank Loan Officer jobs, which can indicate that there is a large demand for Bank Loan Officer positions in this city.
The following table shows top 10 cities where the Bank Loan Officer salary is higher than other cities in Michigan.
Ann Arbor takes first place in this list, followed by Canton, Novi.
The Bank Loan Officer salary is $49,606 in Ann Arbor,
which is higher than the national average. There are 6 cities' Bank Loan Officer salary higher than national average in Michigan.
The average salary for a Bank Loan Officer in Michigan is $48,594,
but we found that the city with the highest salary for Bank Loan Officer jobs is Ann Arbor, MI, and it is higher than Canton.
Bank Loan Officer jobs in Ann Arbor can have the opportunity to earn higher salaries than in other cities in Michigan.
| CITY | ANNUAL SALARY | MONTHLY PAY | WEEKLY PAY | HOURLY WAGE |
| Ann Arbor | $49,606 | $4,134 | $954 | $24 |
| Canton | $49,527 | $4,127 | $952 | $24 |
| Novi | $49,369 | $4,114 | $949 | $24 |
| Detroit | $49,349 | $4,112 | $949 | $24 |
| Warren | $49,349 | $4,112 | $949 | $24 |
| Dearborn | $49,349 | $4,112 | $949 | $24 |
| Dearborn Heights | $49,325 | $4,110 | $949 | $24 |
| Royal Oak | $49,295 | $4,108 | $948 | $24 |
| Westland | $49,280 | $4,107 | $948 | $24 |
| Taylor | $49,270 | $4,106 | $948 | $24 |
What Does a Bank Loan Officer Do?
The loan officer is responsible for the initial screening process and is unlikely to proceed with an application from someone who does not meet the lender's qualifications.
Updated October 21, 2021
Except for consumer loan officers, who spend most of their time in offices, these workers may travel to visit clients.
Updated December 22, 2021
If you can meet with or speak to a loan officer, you can make your case for loan approval to a human being rather than a machine.
Updated December 22, 2021
If the underwriter approves your loan, your loan officer will then collect and prepare the appropriate loan closing documents.
Updated December 20, 2021
This is why banks may have several branches — they want to serve the potential borrowers in various areas who want to meet face-to-face with a loan officer.
Updated December 20, 2021
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Explore JobArchitectFrequently Asked Questions About a Bank Loan Officer Salaries
What is the average of a Bank Loan Officer in Michigan?
The Bank Loan Officer salary range is from $39,135 to $55,700, and the average Bank Loan Officer salary is $48,594/year in Michigan.
The Bank Loan Officer's salary will change in different locations.
Which location pays the highest Bank Loan Officer salary in the United States?
The Bank Loan Officer salary in San Jose, CA is $62,238
which is the highest in the US.
What kinds of reasons will influence the Bank Loan Officer's salary?
Besides the location, employees' education degree, related skills, and work experience also will influence the salary.
Try to improve your skills and experience to get a higher salary for the position of Bank Loan Officer.
What is the growth rate of the Bank Loan Officer's salary?
If you are thinking of becoming a Bank Loan Officer or planning the next step in your career, find the detailed salary report of a Bank Loan Officer.
