How much does a Construction Loan Officer make in Lakeville, MN? The average Construction Loan Officer salary in Lakeville, MN is $115,436 as of September 01, 2024, but the range typically falls between $88,206 and $137,465. Salary ranges can vary widely depending on many important factors, including education, certifications, additional skills, the number of years you have spent in your profession. With more online, real-time compensation data than any other website, Salary.com helps you determine your exact pay target.
Percentile | Salary | Location | Last Updated |
10th Percentile Construction Loan Officer Salary | $63,414 | Lakeville,MN | September 01, 2024 |
25th Percentile Construction Loan Officer Salary | $88,206 | Lakeville,MN | September 01, 2024 |
50th Percentile Construction Loan Officer Salary | $115,436 | Lakeville,MN | September 01, 2024 |
75th Percentile Construction Loan Officer Salary | $137,465 | Lakeville,MN | September 01, 2024 |
90th Percentile Construction Loan Officer Salary | $157,522 | Lakeville,MN | September 01, 2024 |
Each competency has five to ten behavioral assertions that can be observed, each with a corresponding performance level (from one to five) that is required for a particular job.
Customer Service: Customer service is the provision of service to customers before, during and after a purchase. The perception of success of such interactions is dependent on employees "who can adjust themselves to the personality of the guest". Customer service concerns the priority an organization assigns to customer service relative to components such as product innovation and pricing. In this sense, an organization that values good customer service may spend more money in training employees than the average organization or may proactively interview customers for feedback. From the point of view of an overall sales process engineering effort, customer service plays an important role in an organization's ability to generate income and revenue. From that perspective, customer service should be included as part of an overall approach to systematic improvement. One good customer service experience can change the entire perception a customer holds towards the organization.
Underwriting: Underwriting services are provided by some large financial institutions, such as banks, or insurance or investment houses, whereby they guarantee payment in case of damage or financial loss and accept the financial risk for liability arising from such guarantee. An underwriting arrangement may be created in a number of situations including insurance, issue of securities in a public offering, and bank lending, among others. The person or institution that agrees to sell a minimum number of securities of the company for commission is called the underwriter. The name derives from the Lloyd's of London insurance market. Financial bankers, who would accept some of the risk on a given venture (historically a sea voyage with associated risks of shipwreck) in exchange for a premium, would literally write their names under the risk information that was written on a Lloyd's slip created for this purpose.
Mortgage Lending: A mortgage loan is a secured loan that allows you to avail funds by providing an immovable asset, such as a house or commercial property, as collateral to the lender.
Skill | Salary | Demand |
---|---|---|
Underwriting
|
$117,745 |
2%
|
Commercial Loans
|
$117,745 |
2%
|
Accounting
|
$115,436 |
0%
|
Accounting
|
$115,436 |
0%
|
Accounting
|
$115,436 |
0%
|
Accounting
|
$115,436 |
0%
|
What Should I Pay?
Construction Loan Officer sources and structures construction loans. Performs a due diligence review of potential borrowers, including risk and financial analysis. Being a Construction Loan Officer analyzes applicants' credit and financial status and obtains property appraisals to determine the feasibility of granting loans. Develops relationships with builders and developers to obtain referrals and future lending opportunities. Additionally, Construction Loan Officer structures construction loan terms and conditions according to policies. Approves loans within authorized limits or refers them to a loan committee for approval. May disburse loan proceeds at designated project mile. Requires a bachelor's degree. Typically reports to a manager. The Construction Loan Officer occasionally directed in several aspects of the work. Gaining exposure to some of the complex tasks within the job function. To be a Construction Loan Officer typically requires 2 -4 years of related experience. (Copyright 2024 Salary.com)... View full job description
See user submitted job responsibilities for Construction Loan Officer.
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A career path is a sequence of jobs that leads to your short- and long-term career goals. Some follow a linear career path within one field, while others change fields periodically to achieve career or personal goals.
For Construction Loan Officer, the first career path typically progresses to Construction Loan Manager.
The second career path typically progresses to Community Reinvestment Officer.
The third career path typically progresses to Middle Market Lending Manager.
Additionally, the fourth career path typically starts with a Lending Officer III position, and then progresses to Vice President of Lending.
Salary.com's CompAnalyst platform offers:
Construction Loan Officer salary varies from city to city. Compared with national average salary of Construction Loan Officer, the highest Construction Loan Officer salary is in San Francisco, CA, where the Construction Loan Officer salary is 25.0% above. The lowest Construction Loan Officer salary is in Miami, FL, where the Construction Loan Officer salary is 3.5% lower than national average salary.
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Job Title | Experience | EDUCATION | Salary Compared to This Job |
---|---|---|---|
Job Title Agricultural Loan Officer | Experience 2 - 4 | EducationBachelors | Salary Compared to This Job |
Job Title Construction Loan Manager | Experience | EducationBachelors | Salary Compared to This Job |
Job Title Project Engineer I - Construction | Experience 0 - 2 | EducationBachelors | Salary Compared to This Job |
Job Title Project Engineer II - Construction | Experience 2 - 4 | EducationBachelors | Salary Compared to This Job |
Job Title Project Engineer III - Construction | Experience 4 - 7 | EducationBachelors | Salary Compared to This Job |
Jobs with different levels of education may pay very differently. Check the Construction Loan Officer salary of your education level.
A job category is a classification or grouping of job positions that share similar characteristics, functions, or industries. Construction Loan Officer salary varies from category to category. Click below to see Construction Loan Officer salary in different categories.
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About Lakeville, Minnesota According to the United States Census Bureau, the city has a total area of 37.83 square miles (97.98 km2), of which 36.06 square miles (93.39 km2) is ....More
Lakeville, Minnesota area prices were up 1.4% from a year ago View the Cost of Living in Lakeville, Minnesota
Construction Loan Officer Salary in popular cities: Minneapolis, Saint Paul, Rochester
Skills associated with Construction Loan Officer: Due Diligence, Lending Regulatory Compliance, Risk Analysis, Loan Software ...More
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