Business & Finance Ann Arbor, MI Pop. 123,851

Loan Officer Salary in Ann Arbor, Michigan

The median loan officer salary in Ann Arbor, MI is $69,027 per year, which is 5.0% above the national median and 16.7% above the Michigan state average.

City Median
$69,027
vs State Avg
+$9,861
vs National
+$3,287
Cost of Living
105%

Loan Officer Salary in Ann Arbor by Experience

In Ann Arbor, an entry-level loan officer earns around $39,900, while experienced professionals earn up to $136,500 per year. The local cost of living index is 105% of the national average.

Entry Level (0-2 yrs)
$39,900
+$1,900 vs national
Mid Level (3-7 yrs)
$69,300
+$3,300 vs national
Senior Level (8+ yrs)
$136,500
+$6,500 vs national

Salary Percentiles in Ann Arbor, MI

Percentile Ann Arbor
10th Percentile $36,960
25th Percentile $47,670
Median (50th) $69,027
75th Percentile $105,000
90th Percentile $161,490

Loan Officer Salary in Other Michigan Cities

Grand Rapids, MI
$59,166
Pop. 198,917
Detroit, MI
$57,851
Pop. 639,111
Warren, MI
$57,851
Pop. 139,387
Lansing, MI
$56,536
Pop. 112,644

How to Become a Loan Officer in Ann Arbor

Education

Most loan officer positions require a bachelor's degree. Ann Arbor and the surrounding Michigan area have institutions offering relevant programs.

Key Skills

Credit AnalysisMortgage LendingCustomer ServiceRegulatory ComplianceSalesFinancial Software

Job Outlook

Nationally, loan officer employment is projected to grow 3% over the next decade (as fast as average). Demand in Ann Arbor may vary based on local industry and population growth.

Find Loan Officer Jobs in Ann Arbor

Browse open loan officer positions in Ann Arbor, MI:

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Frequently Asked Questions: Loan Officer Salary in Ann Arbor

How much does a Loan Officer make in Ann Arbor, MI? ▼
The median loan officer salary in Ann Arbor, Michigan is $69,027 per year, which is 5.0% above the national median of $65,740. Salaries range from $36,960 (10th percentile) to $161,490 (90th percentile).
How much does a Loan Officer make per hour in Ann Arbor? ▼
Based on the median annual salary of $69,027, a loan officer in Ann Arbor earns approximately $33 per hour assuming a standard 2,080-hour work year.
How does Ann Arbor compare to the Michigan state average for loan officer pay? ▼
Ann Arbor's median loan officer salary of $69,027 is 16.7% above the Michigan state average of $59,166. The local cost of living index is 105% of the national average.
What is the cost of living in Ann Arbor, MI? ▼
Ann Arbor has a cost of living index of 105% compared to the national average. This means a loan officer salary of $69,027 in Ann Arbor has less purchasing power than the same salary in an average-cost city.
What qualifications do I need to become a loan officer in Ann Arbor? ▼
Most loan officer positions in Ann Arbor require a bachelor's degree. Key skills include Credit Analysis, Mortgage Lending, Customer Service, Regulatory Compliance. The job market is projected to grow 3% nationally over the next decade.