How much does a Mortgage Loan Originator make in Detroit, MI?
A Mortgage Loan Originator in Detroit, MI, earns an average yearly salary of $87,224. This role involves helping people apply for home loans. The salary range can vary based on experience and other factors. Many professionals in this field earn between $45,664 and $138,265 each year.
The salary distribution shows that most Mortgage Loan Originators make between $45,664 and $138,265. This range includes many people who have different levels of experience. Some may just be starting out, while others have been in the industry for many years. The highest earners in this field make over $153,699 a year. This often means they have a lot of experience and a strong track record of successful loan originations.
What are the highest paying cities for a Mortgage Loan Originator near Detroit, MI?
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Livonia, MI
Average Salary: $158,500
In Livonia, MI, professionals find a thriving market for mortgage services. With a strong presence of local banks and financial institutions, opportunities abound. Companies like Quicken Loans and Chase offer robust support for those in the field.
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Michigan City, IN
Average Salary: $150,448
Michigan City, IN, provides a stable environment for those in the mortgage industry. The local market is growing, with companies like Wells Fargo and Chase offering solid career paths. The community is supportive and values financial expertise.
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Southfield, MI
Average Salary: $116,818
Southfield, MI, is a hub for financial services, offering many opportunities for those in the mortgage sector. Major firms like Rocket Mortgage and Fifth Third Bank are present. The competitive salary makes it an attractive place to work.
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Farmington Hills, MI
Average Salary: $97,186
Farmington Hills, MI, is known for its strong financial sector. Professionals here benefit from a supportive community and numerous job opportunities. Companies like Chase and PNC Bank are prominent in the area.
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Troy, MI
Average Salary: $95,566
Troy, MI, offers a dynamic environment for mortgage professionals. The city is home to several major financial institutions, including Quicken Loans and Fifth Third Bank. The competitive salary and growth opportunities make it an excellent choice.
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Grand Rapids, MI
Average Salary: $83,386
Grand Rapids, MI, provides a vibrant market for mortgage professionals. The city's financial sector is robust, with companies like Chase and TD Bank offering many opportunities. The cost of living is reasonable, making it a great place to work.
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Toledo, OH
Average Salary: $78,138
Toledo, OH, offers a stable market for those in the mortgage industry. The city has several financial institutions, including Fifth Third Bank and Huntington Bank. The community is supportive, and the cost of living is affordable.
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Cleveland, OH
Average Salary: $69,777
Cleveland, OH, is a key city for mortgage professionals. The local market is strong, with major companies like Chase and Huntington Bank. The city offers a good balance of professional opportunities and a reasonable cost of living.
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Royal Oak, MI
Average Salary: $67,625
Royal Oak, MI, provides a supportive environment for mortgage professionals. The city has a strong presence of financial institutions, including Chase and Fifth Third Bank. The community is welcoming, and the cost of living is moderate.
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Ann Arbor, MI
Average Salary: $64,172
Ann Arbor, MI, offers a vibrant market for mortgage professionals. The city is home to several financial institutions, including Chase and Fifth Third Bank. The community is supportive, and the cost of living is reasonable, making it an attractive place to work.
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What are the best paying companies for a Mortgage Loan Originator in Detroit, MI?
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Mutual of Omaha Mortgage
Average Salary: $78,138
Mutual of Omaha Mortgage offers competitive salaries for Mortgage Loan Originators. They provide a supportive environment and training programs. This company operates in various locations across Detroit, MI, offering flexibility in work locations.
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U.S. Bank
Average Salary: $50,129
U.S. Bank is a well-known financial institution that offers rewarding opportunities for Mortgage Loan Originators. They focus on customer service and professional development. U.S. Bank has multiple branches throughout Detroit, MI, providing diverse work settings.
What are the best paying Mortgage Loan Originator related jobs in Detroit, MI?
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Loan Servicing Specialist
Average Salary: $148,500
This role involves managing mortgage payments and customer accounts. It requires strong communication skills and attention to detail. Companies like Quicken Loans and Chase offer these positions.
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Finance Manager
Average Salary: $133,150
Finance managers oversee financial operations. They analyze financial data and make recommendations. Firms such as Ford and General Motors have these roles. They focus on budgeting and financial planning.
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Commercial Loan Officer
Average Salary: $131,500
These professionals assess and approve loans for businesses. They need to understand commercial real estate and business finances. Banks like Fifth Third and Huntington offer these jobs. They work closely with business owners.
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Credit Analyst
Average Salary: $126,634
Credit analysts evaluate the creditworthiness of individuals and businesses. They review financial documents and credit reports. Companies like Ally Financial and Comerica Bank hire for these roles. They ensure loans are safe investments.
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Funding Specialist
Average Salary: $120,175
Funding specialists handle the paperwork for loan approvals. They ensure all documents are in order. Firms such as Rocket Mortgage and Chase offer these positions. They work with loan officers to finalize loans.
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Appraiser
Average Salary: $103,319
Appraisers determine the value of properties. They inspect homes and gather data. Companies like CoreLogic and Black Knight hire for these roles. They provide essential information for loan approvals.
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Sales Manager
Average Salary: $90,373
Sales managers lead teams to meet sales goals. They develop strategies and motivate staff. Companies like Ameriprise Financial and Edward Jones offer these positions. They focus on growing business and client relationships.
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Financial Advisor
Average Salary: $87,963
Financial advisors help clients manage their money. They provide advice on investments and savings. Firms like Vanguard and Fidelity Investments hire for these roles. They work closely with clients to meet their financial goals.
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Loan Specialist
Average Salary: $76,580
Loan specialists assist in the loan process. They handle paperwork and customer inquiries. Banks like PNC and Huntington offer these positions. They ensure the loan process runs smoothly.
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Risk Analyst
Average Salary: $74,783
Risk analysts assess potential risks for financial institutions. They analyze data and develop risk management strategies. Companies like Moody's and S&P Global offer these roles. They help protect the company from financial losses.
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