Loan Officers pay range in Grand Rapids
New workers and the lowest-paid 10% earn about $40,390 a year or less, while the top 10% make $138,130 or more. The middle half of loan officers in Grand Rapids earn between $50,290 and $99,920.
- $40K10th
- $50K25th
- $72KMedian
- $100K75th
- $138K90th
median average · bar = middle 50% of workers · how to read it
| Pay level | Per year | Per month | Per hour* |
|---|---|---|---|
| Average | $82,320 | $6,860 | $39.58 |
| Median | $71,760 | $5,980 | $34.50 |
| Entry level (25th percentile) | $50,290 | $4,191 | $24.18 |
| Experienced (75th percentile) | $99,920 | $8,327 | $48.04 |
*Hourly figures assume 2,080 paid hours a year. Hourly to annual salary.
Loan Officers pay in Grand Rapids vs. Michigan and the U.S.
Loan officers in Grand Rapids earn about the same as the Michigan average ($83,990) and 6% less than the U.S. average ($87,790). At the median the gap is -6% against the U.S. median of $76,690.
| Area | Average | Median | 10th pct. | 90th pct. | Jobs |
|---|---|---|---|---|---|
| Grand Rapids | $82,320 | $71,760 | $40,390 | $138,130 | 790 |
| Michigan | $83,990 | $74,470 | $36,830 | $135,700 | 11,340 |
| United States | $87,790 | $76,690 | $39,430 | $153,180 | 274,330 |
State and U.S. rows: BLS statewide and national estimates, May 2025, which include rural areas.
Loan Officers salary after taxes in Grand Rapids
On the average salary of $82,320, a single filer in Grand Rapids takes home about $62,342 a year, or $5,195 a month and $2,398 every two weeks. Taxes take 24% of gross pay.
Single filer, standard deduction: federal income tax (2026 brackets), Social Security, Medicare and state income tax (2025 rules). Includes Grand Rapids's local income tax (1.5%).
Is Grand Rapids a good place for loan officers? Pay vs. cost of living
Prices in the Grand Rapids area are 4% below the U.S. average (BEA price parity 95.5), so the average $82,320 buys what about $86,157 would buy in a typical U.S. metro. This job pays 1.5 times the median wage of all jobs in Grand Rapids ($47,570). A typical home costs $359,923, or 4.4 years of this average salary before tax.
Loan Officers salary in other Michigan cities
Grand Rapids ranks 4th of 14 Michigan metro areas for this job; Kalamazoo pays the most ($89,060).
Highest-paying cities for loan officers
Elmira, NY pays this job the most of the metro areas we cover ($129,370).
- Elmira, NY$129,370
- New York, NY$121,180
- Boston, MA$120,300
- San Francisco, CA$116,480
- Norwich, CT$116,460
Does this match what you are paid?
Anonymous, no account. Results update as visitors answer.
Share your pay anonymously
Loan Officers salary in Grand Rapids: questions
How much do loan officers make an hour in Grand Rapids?
$39.58 an hour on average, and $34.50 at the median (BLS, May 2025).
What is the entry-level loan officers salary in Grand Rapids?
The lowest-paid 10% earn about $40,390 a year and the 25th percentile is $50,290, a fair guide to starting pay.
What is the loan officers take-home pay in Grand Rapids?
About $62,342 a year ($5,195 a month) for a single filer on the average salary of $82,320. Includes Grand Rapids's local income tax (1.5%).
Do loan officers earn more in Grand Rapids than elsewhere?
The average here is 6% less than the U.S. average for this job ($87,790).
Sources and how to read this page
- Wages: U.S. Bureau of Labor Statistics, Occupational Employment and Wage Statistics (OEWS), May 2025 estimates for metropolitan areas. SOC code 13-2072; area Grand Rapids-Wyoming-Kentwood, MI (24340). Relative standard error of the mean wage: 3.4%.
- U.S. and statewide figures: BLS OEWS national and state estimates, May 2025, every employer including rural areas.
- Cost of living: Bureau of Economic Analysis regional price parities (RPP), 2024; 100 = U.S. average.
- Home value: Zillow Home Value Index. Typical-wage figure: OEWS all occupations, same metro.
- Take-home pay: Single filer, standard deduction: federal income tax (2026 brackets), Social Security, Medicare and state income tax (2025 rules). Includes Grand Rapids's local income tax (1.5%).
- Job concentration: location quotient 0.75, this job is less common than in the U.S. overall (location quotient 0.75).
Read the full methodology. Spotted an error? Tell us.