Loan Processor Trainee Salaries in Minnesota
How Much Does a Loan Processor Trainee Make in Minnesota?
Updated March 01, 2025
As of March 01, 2025,
the average annual pay of Loan Processor Trainee in Minnesota is $51,552.
While Salary.com is seeing that Loan Processor Trainee salary in MN can go up to $62,531
or down to $42,505, but most earn between $46,816 and $57,298.
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 Processor Trainee
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Similar Job Salaries to Loan Processor Trainee by Company
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| Company | average base salary in (usd) | range |
|---|---|---|
|
gpac
Loan Processor
|
$65,804/yr
|
RANGE: $56,666 - $74,942
|
|
Citizens National Bank of Park Rapids
Loan Processor
|
$60,787/yr
|
RANGE: $52,345 - $69,228
|
|
Security Bank & Trust Co.
Loan Administrator/Loan Processor
|
$61,071/yr
|
RANGE: $52,930 - $69,213
|
|
Magnifi Financial
SBA Loan Processor II
|
$80,213/yr
|
RANGE: $65,430 - $94,996
|
|
Members Cooperative Credit Union
Mortgage Loan Processor
|
$63,874/yr
|
RANGE: $54,578 - $73,169
|
|
Bremer Bank National Association
RRE Loan Processor -2
|
$70,155/yr
|
RANGE: $59,946 - $80,365
|
|
CM
SBA Loan Processor II
|
$80,213/yr
|
RANGE: $65,430 - $94,996
|
Top 10 Highest Paying Cities For Loan Processor Trainee 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 Processor Trainee 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 Processor Trainee job salaries in Minnesota.
Some cities can pay higher salaries for Loan Processor Trainee jobs, which can indicate that there is a large demand for Loan Processor Trainee positions in this city.
The following table shows top 10 cities where the Loan Processor Trainee salary is higher than other cities in Minnesota.
Minneapolis takes first place in this list, followed by Saint Paul, Minnetonka.
The Loan Processor Trainee salary is $53,466 in Minneapolis,
which is higher than the national average. There are 7 cities' Loan Processor Trainee salary higher than national average in Minnesota.
The average salary for a Loan Processor Trainee in Minnesota is $51,552,
but we found that the city with the highest salary for Loan Processor Trainee jobs is Minneapolis, MN, and it is higher than Saint Paul.
Loan Processor Trainee 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 | $53,466 | $4,456 | $1,028 | $26 |
| Saint Paul | $53,466 | $4,456 | $1,028 | $26 |
| Minnetonka | $53,466 | $4,456 | $1,028 | $26 |
| Eden Prairie | $53,366 | $4,447 | $1,026 | $26 |
| Burnsville | $53,315 | $4,443 | $1,025 | $26 |
| Lakeville | $53,114 | $4,426 | $1,021 | $26 |
| Rochester | $50,544 | $4,212 | $972 | $24 |
| Saint Cloud | $49,687 | $4,141 | $956 | $24 |
| Duluth | $48,679 | $4,057 | $936 | $23 |
What Does a Loan Processor Trainee Do?
Our mortgage loan processors collaborate with customers, underwriting, and our sales team to make the dream of homeownership possible by gathering and analyzing documents to make a complete loan file.
Updated December 08, 2021
The loan processor who works with the broker will essentially send conditions to the AM that works at the bank so they can be signed off.
Updated December 04, 2021
In a nutshell, the loan originator hustles to bring in new borrowers and the loan processor hustles to get the loans funded, while both may irritate the underwriter in the process.
Updated November 25, 2021
However, some processors are actually more knowledgeable than the more sales-oriented loan officers because they handle more volume and may have more years of mortgage experience under their belt.
Updated November 21, 2021
Assuming the loan is approved, the processor will receive a list of prior-to-document conditions (PTDs) that must be met before loan documents are released by the bank.
Updated November 19, 2021
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Explore JobArchitectFrequently Asked Questions About a Loan Processor Trainee Salaries
What is the average of a Loan Processor Trainee in Minnesota?
The Loan Processor Trainee salary range is from $46,816 to $57,298, and the average Loan Processor Trainee salary is $51,552/year in Minnesota.
The Loan Processor Trainee's salary will change in different locations.
Which location pays the highest Loan Processor Trainee salary in the United States?
The Loan Processor Trainee salary in San Jose, CA is $63,243
which is the highest in the US.
What kinds of reasons will influence the Loan Processor Trainee'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 Processor Trainee.
What is the growth rate of the Loan Processor Trainee's salary?
If you are thinking of becoming a Loan Processor Trainee or planning the next step in your career, find the detailed salary report of a Loan Processor Trainee.
