Business & Finance Lansing, MI Pop. 112,644

Loan Officer Salary in Lansing, Michigan

The median loan officer salary in Lansing, MI is $56,536 per year, which is 14% below the national median and 4.4% below the Michigan state average.

City Median
$56,536
vs State Avg
$-2,630
vs National
$-9,204
Cost of Living
86%

Loan Officer Salary in Lansing by Experience

In Lansing, an entry-level loan officer earns around $32,680, while experienced professionals earn up to $111,800 per year. The local cost of living index is 86% of the national average.

Entry Level (0-2 yrs)
$32,680
$-5,320 vs national
Mid Level (3-7 yrs)
$56,760
$-9,240 vs national
Senior Level (8+ yrs)
$111,800
$-18,200 vs national

Salary Percentiles in Lansing, MI

Percentile Lansing
10th Percentile $30,272
25th Percentile $39,044
Median (50th) $56,536
75th Percentile $86,000
90th Percentile $132,268

Loan Officer Salary in Other Michigan Cities

Ann Arbor, MI
$69,027
Pop. 123,851
Grand Rapids, MI
$59,166
Pop. 198,917
Detroit, MI
$57,851
Pop. 639,111
Warren, MI
$57,851
Pop. 139,387

How to Become a Loan Officer in Lansing

Education

Most loan officer positions require a bachelor's degree. Lansing 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 Lansing may vary based on local industry and population growth.

Find Loan Officer Jobs in Lansing

Browse open loan officer positions in Lansing, MI:

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Frequently Asked Questions: Loan Officer Salary in Lansing

How much does a Loan Officer make in Lansing, MI? ▼
The median loan officer salary in Lansing, Michigan is $56,536 per year, which is 14% below the national median of $65,740. Salaries range from $30,272 (10th percentile) to $132,268 (90th percentile).
How much does a Loan Officer make per hour in Lansing? ▼
Based on the median annual salary of $56,536, a loan officer in Lansing earns approximately $27 per hour assuming a standard 2,080-hour work year.
How does Lansing compare to the Michigan state average for loan officer pay? ▼
Lansing's median loan officer salary of $56,536 is 4.4% below the Michigan state average of $59,166. The local cost of living index is 86% of the national average.
What is the cost of living in Lansing, MI? ▼
Lansing has a cost of living index of 86% compared to the national average. This means a loan officer salary of $56,536 in Lansing has more purchasing power than the same salary in an average-cost city.
What qualifications do I need to become a loan officer in Lansing? ▼
Most loan officer positions in Lansing 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.