Loan Closing Officer Salaries in Minnesota
How Much Does a Loan Closing Officer Make in Minnesota?
Updated February 01, 2025
As of February 01, 2025,
the average annual pay of Loan Closing Officer in Minnesota is $68,223.
While Salary.com is seeing that Loan Closing Officer salary in MN can go up to $89,039
or down to $48,728, but most earn between $58,018 and $79,119.
Salary ranges can vary widely depending on many important factors,
including education, certifications, additional skills, and your experience levels.
With more online, real-time compensation data than any other website, Salary.com helps you determine your exact pay target.
Related Job Titles to Loan Closing Officer
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Similar Job Salaries to Loan Closing Officer by Company
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| Company | average base salary in (usd) | range |
|---|---|---|
|
Wells Fargo
Senior Commercial Loan Closing Specialist
|
$130,688/yr
|
RANGE: $105,997 - $155,378
|
|
CMDC
Loan Officer
|
$131,743/yr
|
RANGE: $100,398 - $163,089
|
|
Caliver Beach Mortgage
Loan Officer
|
$100,443/yr
|
RANGE: $80,064 - $120,822
|
|
Northview Bank
VP/Commercial Loan Officer
|
$153,773/yr
|
RANGE: $122,290 - $185,256
|
|
Associated Banc-Corp
Loan Review Officer II
|
$95,902/yr
|
RANGE: $80,185 - $111,620
|
|
gpac
Mortgage Loan Officer
|
$104,174/yr
|
RANGE: $83,038 - $125,310
|
|
MID MINNESOTA FEDERAL CREDIT UNION
Mortgage Loan Officer
|
$123,671/yr
|
RANGE: $93,751 - $153,592
|
|
Home State Bank
Mortgage Loan Officer
|
$95,927/yr
|
RANGE: $76,464 - $115,389
|
|
Associated Bank - Corp
Loan Review Officer II
|
$95,902/yr
|
RANGE: $80,185 - $111,620
|
Top 10 Highest Paying Cities For Loan Closing Officer Jobs in Minnesota
It is important to understand how location impacts your career prospects in the United States.
There are some cities where a Loan Closing Officer can find a job easily with a greater salary paid then achieve a higher standard of living.
Below is the top cities list for Loan Closing Officer job salaries in Minnesota.
Some cities can pay higher salaries for Loan Closing Officer jobs, which can indicate that there is a large demand for Loan Closing Officer positions in this city.
The following table shows top 10 cities where the Loan Closing Officer salary is higher than other cities in Minnesota.
Minneapolis takes first place in this list, followed by Saint Paul, Minnetonka.
The Loan Closing Officer salary is $70,757 in Minneapolis,
which is higher than the national average. There are 7 cities' Loan Closing Officer salary higher than national average in Minnesota.
The average salary for a Loan Closing Officer in Minnesota is $68,223,
but we found that the city with the highest salary for Loan Closing Officer jobs is Minneapolis, MN, and it is higher than Saint Paul.
Loan Closing Officer jobs in Minneapolis can have the opportunity to earn higher salaries than in other cities in Minnesota.
| CITY | ANNUAL SALARY | MONTHLY PAY | WEEKLY PAY | HOURLY WAGE |
| Minneapolis | $70,757 | $5,896 | $1,361 | $34 |
| Saint Paul | $70,757 | $5,896 | $1,361 | $34 |
| Minnetonka | $70,757 | $5,896 | $1,361 | $34 |
| Eden Prairie | $70,624 | $5,885 | $1,358 | $34 |
| Burnsville | $70,557 | $5,880 | $1,357 | $34 |
| Lakeville | $70,290 | $5,858 | $1,352 | $34 |
| Rochester | $66,889 | $5,574 | $1,286 | $32 |
| Saint Cloud | $65,755 | $5,480 | $1,265 | $32 |
| Duluth | $64,422 | $5,368 | $1,239 | $31 |
What Does a Loan Closing Officer Do?
In other words, a mortgage broker is a type of mortgage business, while a loan officer is a salesperson paid to give you the information needed to choose a mortgage that fits your needs.
Updated December 22, 2021
A mortgage broker works with many lenders to find you loan programs with the best rates, terms and lowest closing costs for your situation, but the broker doesn’t actually lend you money.
Updated December 21, 2021
Both mortgage brokers and mortgage banks pay loan officers a fixed percentage of the loan amount, although there may be variations, Andrews said.
Updated December 20, 2021
LO Connect’s intutive design and powerful automation helps your loan officers accomplish common tasks with ease, including:.
Updated December 17, 2021
Loan officers are knowledgable about all of the various types of loans offered by the financial institutions they represent and can advise borrowers on the best options for their needs.
Updated December 16, 2021
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Explore JobArchitectFrequently Asked Questions About a Loan Closing Officer Salaries
What is the average of a Loan Closing Officer in Minnesota?
The Loan Closing Officer salary range is from $58,018 to $79,119, and the average Loan Closing Officer salary is $68,223/year in Minnesota.
The Loan Closing Officer's salary will change in different locations.
Which location pays the highest Loan Closing Officer salary in the United States?
The Loan Closing Officer salary in San Jose, CA is $83,695
which is the highest in the US.
What kinds of reasons will influence the Loan Closing Officer's salary?
Besides the location, employees' education degree, related skills, and work experience also will influence the salary.
Try to improve your skills and experience to get a higher salary for the position of Loan Closing Officer.
What is the growth rate of the Loan Closing Officer's salary?
If you are thinking of becoming a Loan Closing Officer or planning the next step in your career, find the detailed salary report of a Loan Closing Officer.
