Retail Loan Processor Salaries in Minnesota
How Much Does a Retail Loan Processor Make in Minnesota?
Updated April 01, 2025
As of April 01, 2025,
the average annual pay of Retail Loan Processor in Minnesota is $47,634.
While Salary.com is seeing that Retail Loan Processor salary in MN can go up to $65,404
or down to $31,118, but most earn between $38,989 and $56,935.
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 Retail Loan Processor
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Similar Job Salaries to Retail Loan Processor by Company
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| Company | average base salary in (usd) | range |
|---|---|---|
|
Gpac
Loan Processor
|
$58,453/yr
|
RANGE: $52,569 - $64,338
|
|
Foresight Bank
Loan Processor
|
$58,630/yr
|
RANGE: $52,729 - $64,532
|
|
Compeer Financial
Loan Processor
|
$60,999/yr
|
RANGE: $54,322 - $67,676
|
|
Midwest Bank
LOAN PROCESSOR
|
$55,066/yr
|
RANGE: $49,522 - $60,609
|
|
MidWestOne Bank
Commercial Loan Processor I
|
$64,883/yr
|
RANGE: $58,323 - $71,444
|
|
PROFINIUM INC
Ag/Commercial Loan Processor
|
$80,701/yr
|
RANGE: $72,232 - $89,170
|
|
First International Bank & Trust
Loan Processor - Origination
|
$56,766/yr
|
RANGE: $52,845 - $60,688
|
|
Expert Service IT
Ag/Commercial Loan Processor
|
$80,701/yr
|
RANGE: $72,232 - $89,170
|
|
Mayo Employees Federal Credit Union
Consumer Loan Processor
|
$57,371/yr
|
RANGE: $51,726 - $63,017
|
|
The First National Bank of Bemidji
Commercial Loan Processor and Support
|
$58,855/yr
|
RANGE: $52,905 - $64,805
|
Top 10 Highest Paying Cities For Retail Loan Processor Jobs in Minnesota
It is important to understand how location impacts your career prospects in the United States.
There are some cities where a Retail Loan Processor can find a job easily with a greater salary paid then achieve a higher standard of living.
Below is the top cities list for Retail Loan Processor job salaries in Minnesota.
Some cities can pay higher salaries for Retail Loan Processor jobs, which can indicate that there is a large demand for Retail Loan Processor positions in this city.
The following table shows top 10 cities where the Retail Loan Processor salary is higher than other cities in Minnesota.
Minneapolis takes first place in this list, followed by Saint Paul, Minnetonka.
The Retail Loan Processor salary is $48,718 in Minneapolis,
which is higher than the national average. There are 7 cities' Retail Loan Processor salary higher than national average in Minnesota.
The average salary for a Retail Loan Processor in Minnesota is $47,634,
but we found that the city with the highest salary for Retail Loan Processor jobs is Minneapolis, MN, and it is higher than Saint Paul.
Retail Loan Processor 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 | $48,718 | $4,060 | $937 | $23 |
| Saint Paul | $48,718 | $4,060 | $937 | $23 |
| Minnetonka | $48,718 | $4,060 | $937 | $23 |
| Eden Prairie | $48,635 | $4,053 | $935 | $23 |
| Burnsville | $48,579 | $4,048 | $934 | $23 |
| Lakeville | $48,411 | $4,034 | $931 | $23 |
| Rochester | $46,666 | $3,889 | $897 | $22 |
| Saint Cloud | $45,921 | $3,827 | $883 | $22 |
| Duluth | $44,650 | $3,721 | $859 | $21 |
What Does a Retail Loan Processor Do?
Employ at least one individual who is licensed as a mortgage loan originator who does not engage in the origination of mortgage loans and who has been assigned supervision and instruction duties with respect to individuals employed as loan processors or loan underwriters.
Updated December 22, 2021
Some loan processors can work from a home office, as long as they are available to clients during the process.
Updated December 22, 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 December 21, 2021
To earn a CPP, the loan processor must complete at least six hours of basic loan processing training along with six hours of advanced loan processing training.
Updated December 20, 2021
A loan processor will have excellent verbal and written communication skills as they deal with customers and their paperwork all day.
Updated December 13, 2021
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Explore JobArchitectFrequently Asked Questions About a Retail Loan Processor Salaries
What is the average of a Retail Loan Processor in Minnesota?
The Retail Loan Processor salary range is from $38,989 to $56,935, and the average Retail Loan Processor salary is $47,634/year in Minnesota.
The Retail Loan Processor's salary will change in different locations.
Which location pays the highest Retail Loan Processor salary in the United States?
The Retail Loan Processor salary in San Jose, CA is $58,712
which is the highest in the US.
What kinds of reasons will influence the Retail Loan Processor'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 Retail Loan Processor.
What is the growth rate of the Retail Loan Processor's salary?
If you are thinking of becoming a Retail Loan Processor or planning the next step in your career, find the detailed salary report of a Retail Loan Processor.
