As of April 01, 2025, the average annual salary for a Mortgage Loan Officer I in Michigan is $50,130. According to Salary.com, salaries can range from a low of $37,657 to a high of $58,802, with most professionals earning between $43,601 and $54,669.
| Annual Salary |
Monthly Pay |
Weekly Pay |
Hourly Wage |
|
| 75th Percentile | $54,669 | $4,556 | $1,051 | $26 |
| Average | $50,130 | $4,178 | $964 | $24 |
| 25th Percentile | $43,601 | $3,633 | $838 | $21 |
An entry-level Mortgage Loan Officer I with under 1 year experience makes about $49,156. With less than 2 years of experience, a mid-level Mortgage Loan Officer I makes around $49,935. After 2-4 years, the Mortgage Loan Officer I pay rises to about $50,943. Those senior Mortgage Loan Officer I with 5-8 years of experience earn roughly $51,485, and those Mortgage Loan Officer I having 8 years or more experience are expected to earn about $51,621 on average.
| Levels | Salary |
|---|---|
| Entry Level Mortgage Loan Officer I | $49,156 |
| Intermediate Level Mortgage Loan Officer I | $49,935 |
| Senior Level Mortgage Loan Officer I | $50,943 |
| Specialist Level Mortgage Loan Officer I | $51,485 |
| Expert Level Mortgage Loan Officer I | $51,621 |
| Entry Level | 3% |
| Mid Level | 2% |
| Senior Level | 0% |
| Top Level | 1% |
| Experienced | 1% |
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Mortgage Loan Officer I salary varies from city to city. Compared with national average salary of Mortgage Loan Officer I, the highest Mortgage Loan Officer I salary is in San Francisco, CA, where the Mortgage Loan Officer I salary is 24.9% above. The lowest Mortgage Loan Officer I salary is in Miami, FL, where the Mortgage Loan Officer I salary is 3.9% lower than national average salary.
| City, State | Price | Compared to national average |
|---|---|---|
| San Francisco, CA | $63,574 |
24.9%
|
| Washington, DC | $56,361 |
10.7%
|
| Miami, FL | $48,909 |
|
| Chicago, IL | $52,604 |
3.3%
|
| Boston, MA | $56,773 |
11.5%
|
| New York, NY | $58,993 |
15.9%
|
