Loan Officer Salary in Minnesota
The median loan officer salary in Minnesota is $65,083 per year, which is 1% below the national median of $65,740.
Loan Officer Salary Overview in Minnesota (2026)
Minnesota ranks #19 out of 50 states for loan officer compensation. Minnesota falls in the middle of the pack for loan officer pay, offering salaries near the national average. At $65,083 per year, loan officers in Minnesota earn $657 less than the national median of $65,740.
Minnesota's cost of living is near the national average at 97%, meaning loan officer salaries here translate closely to their face value in purchasing power.
The salary spread in Minnesota is significant: loan officers at the 10th percentile earn $34,848, while those at the 90th percentile bring home $152,262 — a $117,414 gap that reflects differences in experience, specialization, employer type, and metro area. The highest-paying city in Minnesota for this role is Minneapolis, where the median reaches $70,342.
Nationally, loan officer employment is projected to grow 3% over the next decade (as fast as average). This steady growth indicates stable demand for loan officers across the country.
Loan Officer Salary in Minnesota by Experience
In Minnesota, an entry-level loan officer earns around $37,620, while experienced professionals earn up to $128,700 per year. The cost of living index in Minnesota is 97% of the national average.
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See Investment Options →Salary Percentiles in Minnesota
| Percentile | MN Salary |
|---|---|
| 10th Percentile | $34,848 |
| 25th Percentile | $44,946 |
| Median (50th) | $65,083 |
| 75th Percentile | $99,000 |
| 90th Percentile | $152,262 |
Loan Officer Salary by City in Minnesota
The largest employment areas for loan officers in Minnesota include Minneapolis, Saint Paul, Rochester, and Duluth. Salaries vary by city based on local cost of living and demand.
How to Become a Loan Officer in Minnesota
Education
Most loan officer positions require a bachelor's degree. Minnesota has several accredited institutions offering relevant programs.
Key Skills
Job Outlook in Minnesota
Nationally, loan officer employment is projected to grow 3% over the next decade (as fast as average). Minnesota's demand may vary based on local industry trends.
Negotiate Your Way to Senior Pay
Data shows Loan Officers who negotiate earn 7–15% more. A single negotiation could add $63,617 over your career trajectory.
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