Reverse Mortgage Loan Officer Salaries in Minnesota
How Much Does a Reverse Mortgage Loan Officer Make in Minnesota?
Updated January 01, 2025
As of January 01, 2025,
the average annual pay of Reverse Mortgage Loan Officer in Minnesota is $50,486.
While Salary.com is seeing that Reverse Mortgage Loan Officer salary in MN can go up to $65,456
or down to $35,714, but most earn between $42,754 and $58,322.
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 Reverse Mortgage Loan Officer
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Similar Job Salaries to Reverse Mortgage Loan Officer by Company
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| Company | average base salary in (usd) | range |
|---|---|---|
|
Caliver Beach Mortgage
Reverse Mortgage Loan Officer
|
$97,073/yr
|
RANGE: $76,389 - $117,756
|
|
Fishback Financial Corporation
Mortgage Loan Officer II
|
$184,727/yr
|
RANGE: $156,056 - $213,399
|
|
Edge Home Finance Corporation
Mortgage Loan Officer
|
$103,904/yr
|
RANGE: $82,823 - $124,986
|
|
gpac
Mortgage Loan Officer
|
$103,904/yr
|
RANGE: $82,823 - $124,986
|
|
Kind Lending | NMLS #3925
Mortgage Loan Officer
|
$93,915/yr
|
RANGE: $74,861 - $112,970
|
|
Wings Credit Union
Mortgage Loan Officer - Outside Sales
|
$100,183/yr
|
RANGE: $79,856 - $120,510
|
|
Bank Forward
Mortgage Loan Officer / Branch Manager
|
$106,436/yr
|
RANGE: $87,221 - $125,650
|
|
Mutual of Omaha Mortgage
Reverse Mortgage Inside Sales Loan Officer
|
$160,149/yr
|
RANGE: $117,361 - $202,938
|
Top 10 Highest Paying Cities For Reverse Mortgage Loan 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 Reverse Mortgage Loan 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 Reverse Mortgage Loan Officer job salaries in Minnesota.
Some cities can pay higher salaries for Reverse Mortgage Loan Officer jobs, which can indicate that there is a large demand for Reverse Mortgage Loan Officer positions in this city.
The following table shows top 10 cities where the Reverse Mortgage Loan Officer salary is higher than other cities in Minnesota.
Minneapolis takes first place in this list, followed by Saint Paul, Minnetonka.
The Reverse Mortgage Loan Officer salary is $52,362 in Minneapolis,
which is higher than the national average. There are 7 cities' Reverse Mortgage Loan Officer salary higher than national average in Minnesota.
The average salary for a Reverse Mortgage Loan Officer in Minnesota is $50,486,
but we found that the city with the highest salary for Reverse Mortgage Loan Officer jobs is Minneapolis, MN, and it is higher than Saint Paul.
Reverse Mortgage Loan 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 | $52,362 | $4,363 | $1,007 | $25 |
| Saint Paul | $52,362 | $4,363 | $1,007 | $25 |
| Minnetonka | $52,362 | $4,363 | $1,007 | $25 |
| Eden Prairie | $52,263 | $4,355 | $1,005 | $25 |
| Burnsville | $52,214 | $4,351 | $1,004 | $25 |
| Lakeville | $52,016 | $4,335 | $1,000 | $25 |
| Rochester | $49,499 | $4,125 | $952 | $24 |
| Saint Cloud | $48,660 | $4,055 | $936 | $23 |
| Duluth | $47,673 | $3,973 | $917 | $23 |
What Does a Reverse Mortgage Loan Officer Do?
A reverse mortgage is the only way to access home equity without selling the home for seniors who either don’t want the responsibility of making a monthly loan payment or can’t qualify for a home equity loan or refinance because of limited cash flow or poor credit.
Updated October 20, 2021
Even when a reverse mortgage is issued by the most reputable of lenders, it’s still a complicated product.
Updated December 22, 2021
While reverse mortgages don’t have income or credit score requirements, they still have rules about who qualifies.
Updated December 21, 2021
If the reverse mortgage comes due as a result of residing outside of the home, even involuntarily because of medical needs, you may not have the funds to pay off the reverse mortgage and may lose your home.
Updated December 12, 2021
In any case, you will typically need at least 50% equity—based on your home’s current value, not what you paid for it—to qualify for a reverse mortgage.
Updated December 06, 2021
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Explore JobArchitectFrequently Asked Questions About a Reverse Mortgage Loan Officer Salaries
What is the average of a Reverse Mortgage Loan Officer in Minnesota?
The Reverse Mortgage Loan Officer salary range is from $42,754 to $58,322, and the average Reverse Mortgage Loan Officer salary is $50,486/year in Minnesota.
The Reverse Mortgage Loan Officer's salary will change in different locations.
Which location pays the highest Reverse Mortgage Loan Officer salary in the United States?
The Reverse Mortgage Loan Officer salary in San Jose, CA is $61,936
which is the highest in the US.
What kinds of reasons will influence the Reverse Mortgage Loan 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 Reverse Mortgage Loan Officer.
What is the growth rate of the Reverse Mortgage Loan Officer's salary?
If you are thinking of becoming a Reverse Mortgage Loan Officer or planning the next step in your career, find the detailed salary report of a Reverse Mortgage Loan Officer.
