Loan Officers pay in Michigan
$83,990avg. a year
$40.38 an hour · 11,340 employed
Loan Officers in Michigan earn an average of $83,990 a year. That is $3,800 (4%) less than the U.S. average of $87,790. The best-paying metro area is Kalamazoo-Portage, MI at $89,060.
$74,470Median pay
$40.38Average hourly
+6%Avg. pay since 2020
#31Of 50 states + D.C.
Top-paying Michigan metro areas
Average pay for loan officers by metro area. Swipe to see all 15.
1140 jobs
Kalamazoo-Portage, MI
$89,060
$42.82 an hour
2420 jobs
Lansing-East Lansing, MI
$88,080
$42.35 an hour
37,200 jobs
Detroit-Warren-Dearborn, MI
$85,940
$41.32 an hour
4790 jobs
Grand Rapids-Wyoming-Kentwood, MI
$82,320
$39.58 an hour
5320 jobs
Ann Arbor, MI
$81,990
$39.42 an hour
660 jobs
Muskegon-Norton Shores, MI
$75,980
$36.53 an hour
7130 jobs
Niles, MI
$75,470
$36.29 an hour
8130 jobs
Traverse City, MI
$74,970
$36.04 an hour
9110 jobs
Jackson, MI
$74,700
$35.91 an hour
10230 jobs
Flint, MI
$73,450
$35.31 an hour
1130 jobs
Monroe, MI
$71,060
$34.16 an hour
12140 jobs
Saginaw, MI
$70,860
$34.07 an hour
1360 jobs
Midland, MI
$70,850
$34.06 an hour
14160 jobs
South Bend-Mishawaka, IN-MI
$70,260
$33.78 an hour
1570 jobs
Battle Creek, MI
$62,190
$29.90 an hour
Why people trust JobPayFacts
Official government dataEvery number comes from the U.S. Bureau of Labor Statistics wage survey of employers, not self-reported salaries.
Every state and city830 jobs across all 50 states, D.C. and 199 large metro areas.
Updated every yearNew figures each spring when BLS releases them. This site uses May 2025 data.
Loan Officers pay in Michigan, charted
Pay over time
Michigan, annual wage, May of each year
AverageMedian
Where Michigan loan officers work
Employment by metro area, May 2025
Average pay by state
May 2025 · Michigan highlighted · tap a state
AKMEWIVTNHWAIDMTNDMNILMINYMAORNVWYSDIAINOHPANJCTRICAUTCONEMOKYWVVAMDDEAZNMKSARTNNCSCDCOKLAMSALGAHITXFL
Under $79k$79k–$86k$86k–$94k$94k+Michigan
Michigan vs. neighbors
Average pay, May 2025
| Area | Avg. pay | Hourly |
|---|---|---|
| United States | $87,790 | $42.21 |
| Michigan | $83,990 | $40.38 |
| Wisconsin | $89,090 | $42.83 |
| Ohio | $83,960 | $40.37 |
| Indiana | $78,980 | $37.97 |
Related jobs in Michigan
- Accountants and Auditors$86,990
- Financial and Investment Analysts$104,060
- Personal Financial Advisors$121,890
- Financial Specialists, All Other$83,890
- Insurance Underwriters$81,620
- Property Appraisers and Assessors$68,760
Average pay, Michigan, May 2025
Bureau of Labor Statistics OEWS
Questions and answers
How much do loan officers make in Michigan?
The average is $83,990 a year, and the median is $74,470. That is $3,800 (4%) less than the U.S. average of $87,790.
What is the hourly wage in Michigan?
$40.38 an hour on average; the median is $35.80.
Where in Michigan do they earn the most?
Kalamazoo-Portage, MI ($89,060), followed by Lansing-East Lansing, MI ($88,080). The lowest average among 15 metro areas with data is Battle Creek, MI ($62,190).
How does Michigan rank?
Michigan ranks #31 of 51 states (including D.C.) with published data for this job, by average pay.
Sources and notes. U.S. Bureau of Labor Statistics, Occupational Employment and Wage Statistics (OEWS), May 2025 (trend: May 2020–May 2025), occupation code 13-2072. State rank compares average pay across states with published data. Metro figures cover metropolitan statistical areas; a metro area can cross state lines. See also the national loan officers page. Wages are gross pay before taxes and don't include overtime premiums, tips, bonuses or benefits; self-employed workers aren't included. Year-to-year changes can partly reflect survey method changes, so treat the trend as a guide. How we use the data. JobPayFacts isn't affiliated with BLS.