As of May 18, 2021, the average salary for a Loan Processing Specialist in Michigan is $58,512 per year, which breaks down to an hourly rate of $28.
However, a Loan Processing Specialist's salary can vary significantly. Here’s a look at the typical salary range:
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Loan Processing Specialist Salaries by Percentile
| Annual Salary |
Monthly Pay |
Weekly Pay |
Hourly Wage |
|
| 75th Percentile | $64,920 | $5,410 | $1,248 | $31 |
| Average | $58,512 | $4,876 | $1,125 | $28 |
| 25th Percentile | $53,025 | $4,419 | $1,020 | $25 |
United Wholesale Mortgage - Pontiac, MI
OneMain Financial - Benton Harbor, MI
OneMain Financial - Brighton, MI
OneMain Financial - Wayne, MI
A Loan Processing Specialist's salary isn't a fixed number. It's shaped by several important factors. Below, we'll explore how your years of experience, geographic location and company size can directly affect your earning potential.
Your salary can change significantly depending on where you work. States with a higher cost of living and strong industrial sectors often pay more to attract Loan Processing Specialists. For example, consider the average annual salaries in these key locations:
Salaries can also vary between different cities. Major metropolitan areas or cities with a high demand for technicians often offer more competitive pay. Here are a few examples of average annual salaries in different U.S. cities:
Understanding how a Loan Processing Specialist's annual salary breaks down can help with budgeting. Below, you can see the average hourly rate, weekly pay, and monthly pay for this role. Use the buttons to switch between different pay periods.
| Annual Salary | Monthly Pay | Weekly Pay | Hourly Wage | |
|---|---|---|---|---|
| 75th Percentile | $64,920 | $5,410 | $1,248 | $31 |
| Average | $58,512 | $4,876 | $1,125 | $28 |
| 25th Percentile | $53,025 | $4,419 | $1,020 | $25 |
Ready to take the next step in your career? Browse thousands of current Loan Processing Specialist job openings on our job board. Use the search bar below to find your perfect match.
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