How Much Does a Loan Officer Trainee Make in Michigan?

Updated March 26, 2024
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Individually reported data submitted by users of our website

Low Confidence
$47,819/yr
Average Base Pay
Low $40,111
Average $47,819
High $55,521
The average salary for Loan Officer Trainee is $47,819 per year in Michigan.

Related Job Titles to Loan Officer Trainee

Agricultural Loan Officer
$103,199
Michigan
Per Year
Loan Processor Trainee
$46,788
Michigan
Per Year
Officer Trainee
$58,469
Michigan
Per Year
Loan Officer
$65,354
Michigan
Per Year

Similar Job Salaries to Loan Officer Trainee by Company

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Company average base salary in (usd) range
Capital Home Mortgage
Loan Officer
$106,017/yr
$88,447
$123,588
RANGE: $88,447 - $123,588
$69,012/yr
$56,174
$81,849
RANGE: $56,174 - $81,849
Hall Financial
Loan Officer
$73,946/yr
$60,191
$87,702
RANGE: $60,191 - $87,702
Hall Financial Group
Loan Officer
$73,946/yr
$60,191
$87,702
RANGE: $60,191 - $87,702
Lakeview Lending LLC
Loan Officer/Loan Officer Assistant
$112,182/yr
$90,410
$133,953
RANGE: $90,410 - $133,953
Michigan First
Mortgage Loan Officer
$72,179/yr
$58,003
$86,356
RANGE: $58,003 - $86,356
DFCU Financial
Mortgage Loan Officer - MI
$65,570/yr
$51,952
$79,189
RANGE: $51,952 - $79,189
Lotus Home Loans
Mortgage Loan Officer
$87,560/yr
$71,093
$104,027
RANGE: $71,093 - $104,027
Mortgage Depot, LLC
Mortgage Loan Officer
$86,273/yr
$70,048
$102,498
RANGE: $70,048 - $102,498

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Top 10 Highest Paying Cities For Loan Officer Trainee Jobs in Michigan

It is important to understand how location impacts your career prospects in the United States. There are some cities where a Loan Officer Trainee can find a job easily with a greater salary paid then achieve a higher standard of living. Below is the top cities list for Loan Officer Trainee job salaries in Michigan. Some cities can pay higher salaries for Loan Officer Trainee jobs, which can indicate that there is a large demand for Loan Officer Trainee positions in this city.
The following table shows top 10 cities where the Loan Officer Trainee salary is higher than other cities in Michigan. Ann Arbor takes first place in this list, followed by Canton, Novi. The Loan Officer Trainee salary is $49,708 in Ann Arbor, which is higher than the national average. There are 18 cities' Loan Officer Trainee salary higher than national average in Michigan.
The average salary for a Loan Officer Trainee in Michigan is $47,819, but we found that the city with the highest salary for Loan Officer Trainee jobs is Ann Arbor, MI, and it is higher than Canton. Loan Officer Trainee 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 $49,708 $4,142 $956 $24
Canton $49,611 $4,134 $954 $24
Novi $49,466 $4,122 $951 $24
Westland $49,078 $4,090 $944 $24
West Bloomfield $48,884 $4,074 $940 $24
Detroit $48,836 $4,070 $939 $23
Warren $48,836 $4,070 $939 $23
Dearborn $48,836 $4,070 $939 $23
Waterford $48,836 $4,070 $939 $23
Dearborn Heights $48,787 $4,066 $938 $23

What Does a Loan Officer Trainee Do?

Accountant, Compliance Investigator, County Operations Trainee, Economist, Engineer, Farm Loan Officer Trainee (Farm Loan Assistant), Farm Loan Program Technician, Statistician.
Updated December 19, 2021
However, some processors are actually more knowledgeable than the more sales-oriented loan officers because they handle more volume and may have more years of mortgage experience under their belt.
Updated December 19, 2021
While the loan officer or broker may be the person who “got you the loan” to begin with, it’s the processor that will likely take over once you’ve been “sold.”.
Updated December 15, 2021
If you are thinking of becoming a Loan Officer Trainee or planning the next step in your career, find details about.
Updated December 06, 2021
A loan processor deals with lots of paperwork and basically assists the loan officer in closing the loan.
Updated December 04, 2021

Frequently Asked Questions About a Loan Officer Trainee Salaries

What is the average of a Loan Officer Trainee in Michigan?

The Loan Officer Trainee salary range is from $40,111 to $55,521, and the average Loan Officer Trainee salary is $47,819/year in Michigan. The Loan Officer Trainee's salary will change in different locations.

Which location pays the highest Loan Officer Trainee salary in the United States?

The Loan Officer Trainee salary in San Jose, CA is $60,803 which is the highest in the US.

What kinds of reasons will influence the Loan Officer Trainee'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 Loan Officer Trainee.

What is the growth rate of the Loan Officer Trainee's salary?

If you are thinking of becoming a Loan Officer Trainee or planning the next step in your career, find the detailed salary report of a Loan Officer Trainee.