Residential Loan Processor Salaries in Michigan
How Much Does a Residential Loan Processor Make in Michigan?
Updated April 01, 2025
As of April 01, 2025,
the average annual pay of Residential Loan Processor in Michigan is $46,852.
While Salary.com is seeing that Residential Loan Processor salary in MI can go up to $55,680
or down to $36,854, but most earn between $41,619 and $51,473.
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 Residential Loan Processor
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Similar Job Salaries to Residential Loan Processor by Company
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| Company | average base salary in (usd) | range |
|---|---|---|
|
CrossCountry Mortgage, LLC
Loan Processor
|
$57,861/yr
|
RANGE: $52,036 - $63,686
|
|
BD Capital
Loan Processor
|
$58,111/yr
|
RANGE: $52,261 - $63,961
|
|
CHARLEVOIX STATE BANK
LOAN PROCESSOR
|
$58,113/yr
|
RANGE: $52,237 - $63,988
|
|
GreenStone Farm Credit Services
Loan Processor
|
$53,445/yr
|
RANGE: $48,065 - $58,825
|
|
VirtualVocations
Mortgage Loan Processor
|
$58,521/yr
|
RANGE: $52,629 - $64,413
|
|
TEKsystems
Home Equity Loan Processor
|
$72,461/yr
|
RANGE: $65,087 - $79,836
|
|
Habitat for Humanity Michigan
Loan Intake and FSS Processor
|
$55,546/yr
|
RANGE: $50,074 - $61,019
|
|
ChoiceOne Bank
Mortgage Loan Processor | Lapeer
|
$49,102/yr
|
RANGE: $45,152 - $53,052
|
|
ChoiceOne Bank
Mortgage Loan Processor | Fenton
|
$51,565/yr
|
RANGE: $47,416 - $55,713
|
|
Mutual of Omaha Mortgage
Mortgage Loan Processor - Reverse
|
$58,709/yr
|
RANGE: $52,798 - $64,620
|
Top 10 Highest Paying Cities For Residential Loan Processor Jobs in Michigan
It is important to understand how location impacts your career prospects in the United States.
There are some cities where a Residential Loan Processor can find a job easily with a greater salary paid then achieve a higher standard of living.
Below is the top cities list for Residential Loan Processor job salaries in Michigan.
Some cities can pay higher salaries for Residential Loan Processor jobs, which can indicate that there is a large demand for Residential Loan Processor positions in this city.
The following table shows top 10 cities where the Residential Loan Processor salary is higher than other cities in Michigan.
Ann Arbor takes first place in this list, followed by Canton, Novi.
The Residential Loan Processor salary is $47,827 in Ann Arbor,
which is higher than the national average. There are 6 cities' Residential Loan Processor salary higher than national average in Michigan.
The average salary for a Residential Loan Processor in Michigan is $46,852,
but we found that the city with the highest salary for Residential Loan Processor jobs is Ann Arbor, MI, and it is higher than Canton.
Residential Loan Processor 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 | $47,827 | $3,986 | $920 | $23 |
| Canton | $47,751 | $3,979 | $918 | $23 |
| Novi | $47,599 | $3,967 | $915 | $23 |
| Detroit | $47,580 | $3,965 | $915 | $23 |
| Warren | $47,580 | $3,965 | $915 | $23 |
| Dearborn | $47,580 | $3,965 | $915 | $23 |
| Dearborn Heights | $47,556 | $3,963 | $915 | $23 |
| Royal Oak | $47,527 | $3,961 | $914 | $23 |
| Westland | $47,513 | $3,959 | $914 | $23 |
| Taylor | $47,504 | $3,959 | $914 | $23 |
What Does a Residential Loan Processor Do?
Just like underwriters and loan officers, mortgage processors are a crucial part of the mortgage process.
Updated September 25, 2021
(Loan Processor Trainee) - (Pulte Mortgage) Loan Processor (Experienced) + Mortgage Banking 1 (MB1) Trainee Program (No Experience) -- Denver, CO salaries in Englewood, CO.
Updated December 17, 2021
When all of the loan documentation has been completed, the processor finally submits the loan into mortgage underwriting.
Updated December 17, 2021
A mortgage processor, or loan processor, is responsible for assembling, administering and processing your loan application paperwork before it gets approved by the loan underwriter.
Updated December 16, 2021
Found a job posting for “Mortgage Loan Processor Trainee” and mentions no real estate experience needed.
Updated December 16, 2021
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Explore JobArchitectFrequently Asked Questions About a Residential Loan Processor Salaries
What is the average of a Residential Loan Processor in Michigan?
The Residential Loan Processor salary range is from $41,619 to $51,473, and the average Residential Loan Processor salary is $46,852/year in Michigan.
The Residential Loan Processor's salary will change in different locations.
Which location pays the highest Residential Loan Processor salary in the United States?
The Residential Loan Processor salary in San Jose, CA is $60,006
which is the highest in the US.
What kinds of reasons will influence the Residential Loan Processor'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 Residential Loan Processor.
What is the growth rate of the Residential Loan Processor's salary?
If you are thinking of becoming a Residential Loan Processor or planning the next step in your career, find the detailed salary report of a Residential Loan Processor.
