Refinance Loan Officer Salaries in Michigan
How Much Does a Refinance Loan Officer Make in Michigan?
Updated March 01, 2025
As of March 01, 2025,
the average annual pay of Refinance Loan Officer in Michigan is $48,737.
While Salary.com is seeing that Refinance Loan Officer salary in MI can go up to $62,345
or down to $30,597, but most earn between $39,242 and $55,860.
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 Refinance Loan Officer
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Similar Job Salaries to Refinance Loan Officer by Company
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| Company | average base salary in (usd) | range |
|---|---|---|
|
American Financing
Mortgage Loan Processor - Refinance
|
$72,987/yr
|
RANGE: $61,594 - $84,380
|
|
Woodward Home Lending
Loan Officer
|
$99,025/yr
|
RANGE: $78,934 - $119,115
|
|
West Michigan Credit Union
Loan Officer
|
$95,481/yr
|
RANGE: $76,110 - $114,852
|
|
North Central Area Credit Union
Loan Officer
|
$95,481/yr
|
RANGE: $76,110 - $114,852
|
|
ProsperUS Detroit
Loan Officer
|
$76,777/yr
|
RANGE: $64,579 - $88,976
|
|
USA Mortgage Plan
Loan Officer
|
$77,496/yr
|
RANGE: $65,066 - $89,927
|
|
Inspire Home Loans Inc.
Loan Officer
|
$99,222/yr
|
RANGE: $79,091 - $119,352
|
|
Denali Home Loans LLC
Loan Officer
|
$99,025/yr
|
RANGE: $78,934 - $119,115
|
|
EXPERT MORTGAGE LENDING LLC
Loan Officer
|
$98,828/yr
|
RANGE: $78,778 - $118,878
|
|
DynaGen Lending
Loan Officer
|
$98,926/yr
|
RANGE: $78,856 - $118,997
|
Top 10 Highest Paying Cities For Refinance 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 Refinance 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 Refinance Loan Officer job salaries in Michigan.
Some cities can pay higher salaries for Refinance Loan Officer jobs, which can indicate that there is a large demand for Refinance Loan Officer positions in this city.
The following table shows top 10 cities where the Refinance Loan Officer salary is higher than other cities in Michigan.
Ann Arbor takes first place in this list, followed by Canton, Novi.
The Refinance Loan Officer salary is $50,663 in Ann Arbor,
which is higher than the national average. There are 18 cities' Refinance Loan Officer salary higher than national average in Michigan.
The average salary for a Refinance Loan Officer in Michigan is $48,737,
but we found that the city with the highest salary for Refinance Loan Officer jobs is Ann Arbor, MI, and it is higher than Canton.
Refinance 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 | $50,663 | $4,222 | $974 | $24 |
| Canton | $50,564 | $4,214 | $972 | $24 |
| Novi | $50,416 | $4,201 | $970 | $24 |
| Westland | $50,021 | $4,168 | $962 | $24 |
| West Bloomfield | $49,823 | $4,152 | $958 | $24 |
| Detroit | $49,774 | $4,148 | $957 | $24 |
| Warren | $49,774 | $4,148 | $957 | $24 |
| Dearborn | $49,774 | $4,148 | $957 | $24 |
| Waterford | $49,774 | $4,148 | $957 | $24 |
| Dearborn Heights | $49,724 | $4,144 | $956 | $24 |
What Does a Refinance Loan Officer Do?
Although the bank is paying the loan officer a commission, the money is really coming from you, the borrower, in the form of a higher.
Updated December 07, 2021
It’s at this point that you reap the benefits of your loan, either in the form of a new house or the financial benefits afforded by a refinance.
Updated November 18, 2021
These include certifications or licenses that an individual loan officer must have and licenses that must be maintained by the institution funding the loan.
Updated December 22, 2021
FHA refinance loans and the FHA streamline refinance allow borrowers to reduce the interest rate on their current mortgages.
Updated December 21, 2021
So if your loan is less than 2 years old, you can request that your PMI be removed with a new refinance but you’re not guaranteed to get approval.
Updated December 21, 2021
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Explore JobArchitectFrequently Asked Questions About a Refinance Loan Officer Salaries
What is the average of a Refinance Loan Officer in Michigan?
The Refinance Loan Officer salary range is from $39,242 to $55,860, and the average Refinance Loan Officer salary is $48,737/year in Michigan.
The Refinance Loan Officer's salary will change in different locations.
Which location pays the highest Refinance Loan Officer salary in the United States?
The Refinance Loan Officer salary in San Jose, CA is $61,970
which is the highest in the US.
What kinds of reasons will influence the Refinance 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 Refinance Loan Officer.
What is the growth rate of the Refinance Loan Officer's salary?
If you are thinking of becoming a Refinance Loan Officer or planning the next step in your career, find the detailed salary report of a Refinance Loan Officer.
