How much does a Loan Specialist make in Troy, MI?
Job seekers considering a role as a Loan Specialist in Troy, MI, may be interested in the local salary data. The average yearly salary for a Loan Specialist in Troy is $184,176. This figure reflects a range of salaries, showcasing the potential earnings in this field. Understanding these numbers can help in setting expectations and in negotiating future salary offers.
When looking at specific salary points, the distribution shows a spread across different income levels. For instance, about 15.99% of Loan Specialists earn around $30,000 annually. A larger segment, 36.78%, makes between $133,636 and $185,455 each year. The highest earners, representing 0.64%, make over $392,727 annually. These numbers highlight the earning potential that can vary based on experience, qualifications, and specific role responsibilities.
What are the highest paying cities for a Loan Specialist near Troy, MI?

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Birmingham, MI
Average Salary: $246,000
In Birmingham, MI, this role offers a chance to work with top-tier financial institutions. Professionals can expect to collaborate with leading banks and credit unions, providing mortgage and personal loans. The professional environment is competitive, with a focus on customer satisfaction.
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Dearborn, MI
Average Salary: $166,919
Dearborn, MI, is home to many established financial firms. As a specialist here, you'll interact with diverse clients and contribute to the community's economic growth. Working with local banks, you can help people secure loans for various needs.
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Southfield, MI
Average Salary: $157,643
Southfield, MI, features a dynamic financial sector with numerous opportunities. Professionals in this role work with both national and local banks, ensuring clients get the best loan options. The job requires strong customer service skills and attention to detail.
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Rochester Hills, MI
Average Salary: $145,000
In Rochester Hills, MI, you can find a mix of corporate and independent financial services. This role involves assisting clients with loans to meet their financial goals. The area is known for its supportive business environment.
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Farmington Hills, MI
Average Salary: $137,417
Farmington Hills, MI, offers a range of financial opportunities. This job involves helping clients with loans and credit. The role is ideal for those who enjoy working with people and providing personalized financial advice.
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Bloomfield Hills, MI
Average Salary: $127,540
Bloomfield Hills, MI, is known for its affluent clientele. Professionals here assist with a variety of loan products, including home and auto loans. The role demands strong analytical skills and a commitment to client satisfaction.
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Royal Oak, MI
Average Salary: $123,500
Royal Oak, MI, has a thriving financial industry. This position involves working closely with clients to understand their financial needs. Professionals here benefit from a collaborative work culture and ample opportunities for career growth.
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Novi, MI
Average Salary: $121,769
In Novi, MI, this role provides a chance to work in a growing financial sector. Specialists help clients secure loans for personal and business purposes. The job requires excellent communication skills and a customer-focused approach.
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Livonia, MI
Average Salary: $111,874
Livonia, MI, offers a range of job opportunities in the financial sector. Professionals in this role assist clients with various loan types, including mortgages and personal loans. The area is known for its strong community ties.
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Sterling Heights, MI
Average Salary: $59,846
Sterling Heights, MI, is a place with diverse financial opportunities. This job involves helping clients navigate the loan process, from application to approval. The area supports a growing population, offering many career opportunities.
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What are the best paying companies for a Loan Specialist in Troy, MI?

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United Mortgage Lending
Average Salary: $377,596
United Mortgage Lending offers diverse Loan Specialist roles. Based in Troy, MI, the company has a strong reputation for providing competitive benefits and professional growth opportunities. Loan Specialists work on various mortgage products and serve clients across multiple states.
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eMortgage Funding
Average Salary: $162,500
eMortgage Funding is a growing company that hires Loan Specialists in Troy, MI. They focus on digital mortgage solutions and offer a supportive environment for career development. Loan Specialists interact with clients and ensure smooth loan processes. They work closely with other departments to achieve company goals.
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Rapid Mortgage Funding
Average Salary: $155,333
Rapid Mortgage Funding, located in Troy, MI, provides Loan Specialist positions with a focus on efficiency. This company values teamwork and offers a structured approach to mortgage lending. Loan Specialists handle applications and maintain client relationships. They work in a fast-paced environment to meet tight deadlines.
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Peoples Bank and Trust
Average Salary: $155,000
Peoples Bank and Trust offers Loan Specialist roles in Troy, MI. The company has a long history and values customer service. Loan Specialists assist clients with mortgage needs and ensure regulatory compliance. They enjoy a collaborative work culture with opportunities for advancement.
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MortgagePros
Average Salary: $148,917
MortgagePros hires Loan Specialists in Troy, MI. They focus on personalized service and client satisfaction. Loan Specialists work on mortgage applications and guide clients through the process. The company values communication and professional development, providing a supportive environment for career growth.
What are the best paying Loan Specialist related jobs in Troy, MI?

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Portfolio Manager
Average Salary: $161,917
Portfolio Managers work with clients to handle their investment accounts. They assess risks and returns, ensuring a balanced approach. Many financial firms, including those in Troy, seek skilled managers.
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Underwriter
Average Salary: $114,940
Underwriters evaluate the risk of extending credit or insurance. They review applications and decide on approval. This job requires attention to detail. Companies in Troy look for experienced underwriters.
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Sales Specialist
Average Salary: $112,864
Sales Specialists promote and sell financial products. They build client relationships and meet sales targets. This role often involves working with local businesses and clients in Troy.
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Financial Advisor
Average Salary: $111,131
Financial Advisors help clients manage their money and plan for the future. They offer advice on investments, retirement, and more. Many advisors in Troy work with local banks and financial firms.
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Consumer Banker
Average Salary: $91,200
Consumer Bankers assist customers with personal banking needs. They handle transactions, answer questions, and offer financial advice. Top banks in Troy employ skilled consumer bankers.
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Mortgage Loan Originator
Average Salary: $86,741
Mortgage Loan Originators guide clients through the home loan process. They explain options and gather necessary documents. Many local lenders in Troy seek knowledgeable originators.
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Commercial Loan Officer
Average Salary: $79,252
Commercial Loan Officers work with businesses to secure financing. They assess creditworthiness and present loan options. Top banks in Troy hire officers with strong business acumen.
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Loan Servicing Specialist
Average Salary: $69,743
Loan Servicing Specialists manage client payments and account details. They ensure loans are serviced properly and respond to inquiries. This role is crucial in the financial sector in Troy.
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Branch Manager
Average Salary: $65,505
Branch Managers oversee daily operations at financial institutions. They lead teams and ensure customer satisfaction. Many branches in Troy look for experienced managers.
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Operations Analyst
Average Salary: $65,075
Operations Analysts review processes and suggest improvements. They support decision-making with data. Local banks and financial firms in Troy need skilled analysts.
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