Loan Officer salary in Ann Arbor, MI
Loan Officers in the Ann Arbor, MI metro area earn a median of $77,820 a year ($37.41 an hour), based on BLS data for 320 workers.
Pay ranges from $35,790 for the lowest-paid 10% to $131,250 for the top 10%. That is 1% higher than the national median of $76,690. Pay here is 4% higher than the Michigan statewide median of $74,470. There are 1.5 loan officers per 1,000 jobs here — close to the national average. The average (mean) salary is $81,990, above the median because a few high earners pull it up.
Pay range for loan officers in Ann Arbor, MI
| Pay level | Yearly | Hourly |
|---|---|---|
| 10th percentile (entry level) | $35,790 | $17.21 |
| 25th percentile | $50,400 | $24.23 |
| Median | $77,820 | $37.41 |
| 75th percentile | $100,040 | $48.10 |
| 90th percentile (top earners) | $131,250 | $63.10 |
| Average (mean) | $81,990 | $39.42 |
Half of loan officers earn more than the median and half earn less. Percentiles show the spread: 10% earn less than the 10th percentile, and 10% earn more than the 90th.
Median paycheck, before taxes
| Pay period | Amount |
|---|---|
| Monthly | $6,485 |
| Semi-monthly (24 a year) | $3,242.50 |
| Biweekly (26 a year) | $2,993.08 |
| Weekly | $1,496.54 |
| Hourly | $37.41 |
Based on a full-time year of 2,080 hours. Convert any amount with the hourly to salary converter.
Loan Officer salary in other metro areas nearby
| Metro area | Median salary | Workers |
|---|---|---|
| Detroit-Warren-Dearborn, MI | $76,260 | 7,200 |
| Lansing-East Lansing, MI | $72,890 | 420 |
| Kalamazoo-Portage, MI | $72,330 | 140 |
| Grand Rapids-Wyoming-Kentwood, MI | $71,760 | 790 |
| Midland, MI | $66,880 | 60 |
| Flint, MI | $65,050 | 230 |
| Niles, MI | $64,250 | 130 |
| Traverse City, MI | $63,820 | 130 |
| South Bend-Mishawaka, IN-MI | $63,130 | 160 |
| Saginaw, MI | $62,740 | 140 |
| Muskegon-Norton Shores, MI | $62,190 | 60 |
| Jackson, MI | $60,540 | 110 |
| Battle Creek, MI | $59,640 | 70 |
| Monroe, MI | $56,450 | 30 |
Highest-paying states for loan officers
| State | Median salary |
|---|---|
| Massachusetts | $101,600 |
| Connecticut | $95,730 |
| New York | $95,710 |
| Minnesota | $95,170 |
| Colorado | $94,520 |
| Oregon | $94,440 |
| New Jersey | $92,920 |
| District of Columbia | $92,890 |
| Vermont | $88,710 |
| Kansas | $86,970 |
See Loan Officer pay in every state or the Michigan statewide figures.
Related jobs in Ann Arbor, MI
| Job | Median salary | Hourly |
|---|---|---|
| Accountants and Auditors | $80,040 | $38.48 |
| Financial and Investment Analysts | $98,620 | $47.42 |
| Personal Financial Advisor | $95,840 | $46.08 |
| Credit Counselor | $59,570 | $28.64 |
| Financial Specialists, All Other | $66,080 | $31.77 |
| Budget Analyst | $127,860 | $61.47 |
| Property Appraisers and Assessors | $74,740 | $35.94 |
| Financial Risk Specialist | $125,020 | $60.11 |
| Tax Examiners and Collectors, and Revenue Agents | $67,390 | $32.40 |
| Credit Analyst | $77,070 | $37.06 |
| Insurance Underwriter | $77,750 | $37.38 |
| Project Management Specialist | $103,690 | $49.85 |
| Business Operations Specialists, All Other | $81,810 | $39.33 |
| Market Research Analysts and Marketing Specialists | $66,210 | $31.83 |
More: Business and Financial Operations Occupations · all salaries in Ann Arbor, MI
Source: U.S. Bureau of Labor Statistics, Occupational Employment and Wage Statistics, May 2025 estimates, occupation code 13-2072. Wages include base pay, tips, commissions and shift pay, but not overtime, bonuses or benefits, and exclude the self-employed.
Frequently asked questions
How much does a loan officer make in Ann Arbor, MI?
The median salary for loan officers in the Ann Arbor, MI metro area is $77,820 a year, or $37.41 an hour. Pay ranges from $35,790 for the lowest-paid 10% to $131,250 for the top 10%.
How much do the highest-paid loan officers make in Ann Arbor, MI?
The top 10% of loan officers in the Ann Arbor, MI metro area earn at least $131,250 a year. The top 25% earn $100,040 or more.
What is the starting pay for loan officers in Ann Arbor, MI?
Entry-level pay (the 10th percentile) is about $35,790 a year, and a quarter of loan officers earn $50,400 or less.
How many loan officers work in Ann Arbor, MI?
About 320 loan officers are employed in the Ann Arbor, MI metro area, not counting the self-employed.