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Loan officer salary in Michigan

Updated November 2, 2026. Based on U.S. Bureau of Labor Statistics data. Published by Humblebee.

$74,470median pay per year in Michigan, or $35.80 an hour, May 2025[1]
  1. $36,830lowest 10% earn less
  2. $50,28025th percentile
  3. $74,470median
  4. $101,15075th percentile
  5. $135,700top 10% earn more
Middle half of workers in the inner band[2]US median for this job, $76,690[3]

The median pay for a loan officer in Michigan was $74,470 a year in May 2025[1]. That was $2,220 lower than the US median[6].

Jobs in MI
11,340[4]
Rank by median pay
27 of 51[5]
Compared with US median
−2.9%[6]

How much do loan officers make in Michigan?

The median is the middle point. Half of loan officers in Michigan earned more than $74,470 a year, or $35.80 an hour, and half earned less[1]. The average was higher at $83,990[7]. Across the US, the median was $76,690[3]. Michigan's figure was 2.9% lower[6]. Compared with all jobs in Michigan, where the median was $49,270[8], loan officers earned $25,200 more[9].

The lowest-paid 10% earned less than $36,830, and the top 10% earned more than $135,700[2]. The middle half of workers fell between $50,280 and $101,150[2]. By the hour, the 10th percentile wage was $17.71 and the 90th percentile wage was $65.24[10].

By metro area, Ann Arbor had the highest median at $77,820[11]. Detroit-Warren-Dearborn had 7,200 jobs and a median of $76,260[12]. These figures cover wage and salary workers only. Self-employed people are left out, and so are bonuses and the cost of benefits like health insurance[13].

Michigan vs US pay

Pay for loan officers in Michigan next to the national figures[1][3].

MIUS
Median per year$74,470[1]$76,690[3]
Median per hour$35.80[1]$36.87[3]
Lowest 10% earn less than$36,830[2]$39,430[14]
Top 10% earn more than$135,700[2]$153,180[14]
Jobs11,340[4]274,330[3]

Pay by metro area in Michigan

Metro areas in Michigan with the most jobs for loan officers, and the median pay in each[12]. A metro area that crosses state lines is counted as a whole.

Metro areaMedian per yearJobs
Detroit-Warren-Dearborn, MI[12]$76,2607,200
Grand Rapids-Wyoming-Kentwood, MI$71,760790
Lansing-East Lansing, MI$72,890420
Ann Arbor, MI$77,820320
Flint, MI$65,050230
South Bend-Mishawaka, IN-MI$63,130160
Kalamazoo-Portage, MI$72,330140
Saginaw, MI$62,740140

Pay in nearby states

Median pay for loan officers in the states that border Michigan, highest first[15].

StateMedian per yearJobs
Wisconsin[15]$78,2904,940
Ohio$76,3709,880
Indiana$72,9604,790

Median pay for loan officers in every state

Job outlook and training

Across the US, jobs for loan officers are projected to grow 1.1% from 2025 to 2035[16]. BLS does not publish this projection by state. The typical education for entry is: bachelor's degree[17].

How to become one: steps, training and duties

Frequently asked questions

How much does a loan officer make in Michigan?
The median was $74,470 a year in May 2025[1]. The lowest-paid 10% earned less than $36,830 and the top 10% earned more than $135,700[2].
How much does a loan officer make an hour in Michigan?
The median was $35.80 an hour[1]. The 10th percentile wage was $17.71 an hour and the 90th percentile wage was $65.24[10].
Which city in Michigan pays loan officers the most?
Ann Arbor had the highest median among metro areas with a published figure, at $77,820 a year[11]. Detroit-Warren-Dearborn had a median of $76,260[12].
Is Michigan a good state for loan officers?
Michigan had the 27th highest median pay for this job out of the 50 states and DC with a published median[5]. Its median was $2,220 below the US median[6].
What do you need to become a loan officer in Michigan?
This is a US figure, not a Michigan one. Across the US, the typical path is a bachelor's degree, less than 5 years of related work experience, and moderate-term on-the-job training[17].

Facts and sources

  1. BLS OEWS, May 2025: the median wage for Loan Officers in Michigan was $74,470 per year and $35.80 per hour. Half of these workers earned more and half earned less. BLS OEWS, May 2025
  2. BLS OEWS, May 2025, annual wage percentiles for Loan Officers in Michigan: 10th percentile $36,830, 25th percentile $50,280, 75th percentile $101,150, 90th percentile $135,700. The 10th percentile means 10% of workers earned less, the 90th means 10% earned more. BLS OEWS, May 2025
  3. BLS OEWS, May 2025: the median wage for Loan Officers in the US as a whole was $76,690 per year and $36.87 per hour, with about 274,330 jobs nationwide. BLS OEWS, May 2025
  4. BLS OEWS, May 2025: about 11,340 people worked as Loan Officers in Michigan (wage and salary jobs, not counting self-employed workers). BLS OEWS, May 2025
  5. BLS OEWS, May 2025: Michigan had the 27th highest median annual wage for Loan Officers out of the 50 states and DC with a published median. BLS OEWS, May 2025
  6. CareerFacts calculation from BLS OEWS, May 2025: the median annual wage for Loan Officers in Michigan ($74,470) was $2,220 (2.9%) lower than the US median ($76,690). BLS OEWS, May 2025
  7. BLS OEWS, May 2025: the mean (average) wage for Loan Officers in Michigan was $83,990 per year and $40.38 per hour. BLS OEWS, May 2025
  8. BLS OEWS, May 2025: the median annual wage for all occupations in Michigan was $49,270. BLS OEWS, May 2025
  9. CareerFacts calculation from BLS OEWS, May 2025: the median annual wage for Loan Officers in Michigan was $25,200 higher than the median for all occupations in the state ($49,270). BLS OEWS, May 2025
  10. BLS OEWS, May 2025, hourly wage percentiles for Loan Officers in Michigan: 10th percentile $17.71, 25th percentile $24.17, 75th percentile $48.63, 90th percentile $65.24. BLS OEWS, May 2025
  11. BLS OEWS, May 2025: of the 15 metro areas in or partly in Michigan with a published median for Loan Officers, Ann Arbor, MI had the highest median annual wage, $77,820. BLS OEWS, May 2025
  12. Metro areas with the most jobs in this occupation, with median annual wage, May 2025 (table on this page). BLS OEWS, May 2025
  13. BLS OEWS FAQ: OEWS covers part-time and full-time workers paid a wage or salary. It does not cover the self-employed, owners and partners in unincorporated firms, household workers or unpaid family workers. OEWS wages do not include nonproduction bonuses or employer costs of benefits such as health insurance or retirement contributions. BLS OEWS, May 2025
  14. BLS OEWS, May 2025, annual wage percentiles for Loan Officers in the US: 10th percentile $39,430, 25th percentile $52,730, 75th percentile $104,080, 90th percentile $153,180. BLS OEWS, May 2025
  15. BLS OEWS, May 2025, median annual wage for Loan Officers in states that border Michigan (highest first): Wisconsin $78,290; Ohio $76,370; Indiana $72,960. BLS OEWS, May 2025
  16. BLS Employment Projections (US, not by state): employment of Loan Officers is projected to grow 1.1% nationwide from 2025 to 2035, with about 17,100 openings a year on average. All occupations are projected to grow 3.5%. BLS Employment Projections
  17. BLS Employment Projections (US, not by state), typical path into Loan Officers: education needed for entry: Bachelor's degree; work experience in a related occupation: Less than 5 years; typical on-the-job training: Moderate-term on-the-job training. BLS Employment Projections

State figures cover only Michigan. Job outlook and entry requirements are national (US) figures: BLS does not publish them by state in our sources. Figures labelled “CareerFacts calculation” are simple differences between the BLS numbers shown.