Loan Specialist Salaries & Top Paying Companies in Farmington Hills, MI

Position

City

Salary

How much does a Loan Specialist make in Farmington Hills, MI?

The average salary for a Loan Specialist is $142,705 per year in Farmington Hills, MI.

Graph depicting the yearly salary distribution for Loan Specialist jobs in Farmington Hills, MI, showing an average salary of $142,705 with varying distribution percentages across salary ranges.

Graph depicting the monthly salary distribution for Loan Specialist jobs in Farmington Hills, MI, showing an average salary of $11,892 with varying distribution percentages across salary ranges.

Graph depicting the weekly salary distribution for Loan Specialist jobs in Farmington Hills, MI, showing an average salary of $2,744 with varying distribution percentages across salary ranges.

Graph depicting the hourly salary distribution for Loan Specialist jobs in Farmington Hills, MI, showing an average salary of $69 with varying distribution percentages across salary ranges.

In Farmington Hills, MI, a Loan Specialist earns an average yearly salary of $142,705. This figure provides a good baseline for understanding the earning potential in this role. Most Loan Specialists in the area find themselves within the range of $94,545 and $162,727 annually. This salary range reflects the diverse experience levels and responsibilities that come with the job.

To break it down further, the salary distribution shows that many professionals earn between $108,182 and $149,091 per year. This range indicates the salary spread for those who have gained some experience in the field but are not yet at the top of their career ladder. For those with more experience or in higher roles, salaries can reach up to $176,364 annually. This broad range suggests that there are many opportunities for growth and advancement in this career path.

What are the highest paying cities for a Loan Specialist near Farmington Hills, MI?

Job seekers looking for Loan Specialist roles around Farmington Hills, MI, will find high-paying opportunities in nearby cities. Birmingham, MI, stands out with an average salary of $218,333, making it the top choice for higher earnings. Troy, MI, also offers attractive salaries, averaging around $191,938. For those willing to explore further, Dearborn, MI, provides a solid average salary of $168,346. This region near Farmington Hills presents a range of competitive options for Loan Specialists.

Graph displaying highest paying cities salaries for Loan Specialist jobs near Farmington Hills, MI, highlighting Birmingham, MI with the highest at $218,333 and Livonia, MI with the lowest at $95,748.

Birmingham, MI
Average Salary: $218,333
In Birmingham, MI, professionals find rewarding opportunities working with top financial institutions like Chase and Fifth Third Bank. These companies offer a dynamic environment with competitive benefits and growth potential.
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Troy, MI
Average Salary: $191,938
Troy, MI, attracts financial experts with its thriving banking sector. Well-known employers such as Huntington Bank and Capital One provide a stimulating work atmosphere and chances for career advancement.
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Dearborn, MI
Average Salary: $168,346
Dearborn, MI, is home to major financial firms that need skilled specialists. Companies like Ford Motor Credit and Ally Financial offer attractive benefits and a collaborative workplace.
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Royal Oak, MI
Average Salary: $159,500
Royal Oak, MI, provides a vibrant setting for those in the financial industry. Prominent employers such as Blue Cross Blue Shield and Quicken Loans offer excellent opportunities for career growth.
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Southfield, MI
Average Salary: $131,962
Southfield, MI, is known for its robust financial sector. Workers can find rewarding positions with companies like Comerica Bank and Rock Financial, enjoying a supportive work environment.
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Novi, MI
Average Salary: $126,727
Novi, MI, offers a thriving job market for financial experts. Major employers such as Synovus and Flagstar Bank provide a dynamic workplace with good career opportunities.
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West Bloomfield Township, MI
Average Salary: $116,224
West Bloomfield Township, MI, has a strong financial industry presence. Companies like JPMorgan Chase and TD Bank offer competitive salaries and excellent growth opportunities.
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Detroit, MI
Average Salary: $113,528
Detroit, MI, is a hub for financial services with many opportunities. Workers can find jobs with major companies like Quicken Loans and Huntington Bank, enjoying a diverse and dynamic work environment.
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Sterling Heights, MI
Average Salary: $111,286
Sterling Heights, MI, offers a growing job market for financial specialists. Employers like KeyBank and Fifth Third Bank provide a supportive atmosphere and opportunities for career advancement.
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Livonia, MI
Average Salary: $95,748
Livonia, MI, is home to reputable financial institutions that need skilled professionals. Companies like TD Bank and Huntington National Bank offer a positive work environment with growth potential.
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What are the best paying companies for a Loan Specialist in Farmington Hills, MI?

Modern Mortgage Financial offers some of the highest salaries for Loan Specialists in Farmington Hills, MI, averaging over $144,000. This company provides excellent benefits and career growth opportunities. Innovation Mortgage also pays well, with Loan Specialists earning about $85,000 on average. Both companies value experienced professionals in this field.

Graph displaying best paying company salaries for Loan Specialist jobs in Farmington Hills, MI, highlighting Modern Mortgage Financial with the highest at $144,107 and Innovation Mortgage with the lowest at $85,000.

Modern Mortgage Financial
Average Salary: $144,107
Modern Mortgage Financial offers Loan Specialist roles with competitive pay and excellent benefits. They have a strong reputation for customer service and are based in Farmington Hills, MI. They work with clients throughout Michigan, providing mortgage solutions tailored to individual needs.
Innovation Mortgage
Average Salary: $85,000
Innovation Mortgage provides exciting opportunities for Loan Specialists in Farmington Hills, MI. They focus on innovative mortgage solutions and have a supportive work environment. The company operates in multiple locations across Michigan, ensuring a variety of experiences for their employees.

What are the best paying Loan Specialist related jobs in Farmington Hills, MI?

For job seekers interested in Loan Specialist roles, several related positions offer competitive salaries in Farmington Hills, MI. Financial Advisors lead the pack with an average salary of $110,340. Branch Managers can expect to earn around $107,500 annually, while Mortgage Loan Originators make about $101,898. Other related jobs also provide strong earning potential. Underwriters, Risk Analysts, and Fraud Analysts typically earn between $100,110 and $90,480. For those with different skill sets, roles like Financial Aid Advisor, Operations Analyst, Personal Banker, and Sales Specialist offer salaries ranging from $73,750 to $50,950. These positions provide diverse career paths for individuals entering the financial services sector.

Graph displaying best paying related job salaries for Loan Specialist jobs near Farmington Hills, MI, highlighting Financial Advisor with the highest at $110,340 and Sales Specialist with the lowest at $49,924.

Financial Advisor
Average Salary: $110,340
Financial advisors help clients manage their finances. They offer advice on investments, retirement, and savings. Roles often exist in banks and financial firms in Farmington Hills, MI.
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Branch Manager
Average Salary: $107,500
Branch managers oversee daily operations at bank branches. They ensure smooth service for customers and manage staff. This position is common at local banking institutions in Farmington Hills, MI.
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Mortgage Loan Originator
Average Salary: $101,898
Loan originators assist clients in getting mortgages. They explain loan options and handle paperwork. Many opportunities exist with banks and mortgage companies in Farmington Hills, MI.
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Underwriter
Average Salary: $100,110
Underwriters assess the risk of lending money. They review applications and decide if the client qualifies. This role is crucial for banks and financial firms in Farmington Hills, MI.
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Risk Analyst
Average Salary: $90,480
Risk analysts evaluate potential risks for financial institutions. They analyze data to predict financial trends. Companies in Farmington Hills, MI, often seek skilled risk analysts.
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Fraud Analyst
Average Salary: $78,250
Fraud analysts identify suspicious activities in financial transactions. They investigate claims of fraud. Financial institutions in Farmington Hills, MI, employ fraud analysts to safeguard assets.
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Financial Aid Advisor
Average Salary: $73,750
Financial aid advisors help students and families understand their college funding options. They review financial statements and offer guidance. Local educational institutions in Farmington Hills, MI, often need these advisors.
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Operations Analyst
Average Salary: $65,955
Operations analysts improve efficiency in business processes. They study workflows and suggest improvements. Many firms in Farmington Hills, MI, look for talented operations analysts.
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Personal Banker
Average Salary: $50,950
Personal bankers assist clients with their banking needs. They handle transactions and offer financial advice. Local banks in Farmington Hills, MI, hire personal bankers to serve customers.
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Sales Specialist
Average Salary: $49,924
Sales specialists sell financial products and services. They meet with clients and explain options. Many firms in Farmington Hills, MI, hire sales specialists to boost their revenue.
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Loan Specialist Salary in Farmington Hills, MI

How much does a Loan Specialist make in Farmington Hills, MI?

What are the highest paying cities for a Loan Specialist near Farmington Hills, MI?

What are the best paying companies for a Loan Specialist in Farmington Hills, MI?

Currently 1,179 Loan Specialist job openings, nationwide.

How's the job market for a Loan Specialist in the US?

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