Business & Finance Bloomington, MN Pop. 89,987

Loan Officer Salary in Bloomington, Minnesota

The median loan officer salary in Bloomington, MN is $68,370 per year, which is 4.0% above the national median and 5.1% above the Minnesota state average.

City Median
$68,370
vs State Avg
+$3,287
vs National
+$2,630
Cost of Living
102%

Loan Officer Salary in Bloomington by Experience

In Bloomington, an entry-level loan officer earns around $39,520, while experienced professionals earn up to $135,200 per year. The local cost of living index is 102% of the national average.

Entry Level (0-2 yrs)
$39,520
+$1,520 vs national
Mid Level (3-7 yrs)
$68,640
+$2,640 vs national
Senior Level (8+ yrs)
$135,200
+$5,200 vs national

Salary Percentiles in Bloomington, MN

Percentile Bloomington
10th Percentile $36,608
25th Percentile $47,216
Median (50th) $68,370
75th Percentile $104,000
90th Percentile $159,952

Loan Officer Salary in Other Minnesota Cities

Minneapolis, MN
$70,342
Pop. 429,954
Saint Paul, MN
$67,055
Pop. 311,527
Rochester, MN
$65,740
Pop. 121,395
Duluth, MN
$60,481
Pop. 90,884

How to Become a Loan Officer in Bloomington

Education

Most loan officer positions require a bachelor's degree. Bloomington and the surrounding Minnesota area have institutions offering relevant programs.

Key Skills

Credit AnalysisMortgage LendingCustomer ServiceRegulatory ComplianceSalesFinancial Software

Job Outlook

Nationally, loan officer employment is projected to grow 3% over the next decade (as fast as average). Demand in Bloomington may vary based on local industry and population growth.

Find Loan Officer Jobs in Bloomington

Browse open loan officer positions in Bloomington, MN:

Indeed → LinkedIn → ZipRecruiter → Glassdoor →

Frequently Asked Questions: Loan Officer Salary in Bloomington

How much does a Loan Officer make in Bloomington, MN? ▼
The median loan officer salary in Bloomington, Minnesota is $68,370 per year, which is 4.0% above the national median of $65,740. Salaries range from $36,608 (10th percentile) to $159,952 (90th percentile).
How much does a Loan Officer make per hour in Bloomington? ▼
Based on the median annual salary of $68,370, a loan officer in Bloomington earns approximately $33 per hour assuming a standard 2,080-hour work year.
How does Bloomington compare to the Minnesota state average for loan officer pay? ▼
Bloomington's median loan officer salary of $68,370 is 5.1% above the Minnesota state average of $65,083. The local cost of living index is 102% of the national average.
What is the cost of living in Bloomington, MN? ▼
Bloomington has a cost of living index of 102% compared to the national average. This means a loan officer salary of $68,370 in Bloomington has less purchasing power than the same salary in an average-cost city.
What qualifications do I need to become a loan officer in Bloomington? ▼
Most loan officer positions in Bloomington require a bachelor's degree. Key skills include Credit Analysis, Mortgage Lending, Customer Service, Regulatory Compliance. The job market is projected to grow 3% nationally over the next decade.