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Everything you need to choose a mortgage loan originator training program in Minnesota: state requirements, licensing costs, expected timelines, and salary data.
Median Salary
$84,480
in Minnesota
Licensing Fees
N/A
gov't fees only
Timeline
6 weeks – 4 months
to licensed
Job Outlook
+4%
Average DemandSAFE MLO Test (NMLS National Component) — National pass rate: 55%
Look for programs with exam preparation included to maximize your chances of passing on the first attempt.
Start your Mortgage Loan Originator career in Minnesota
Compare approved training programs and find one that fits your schedule and budget. Minnesota mortgage loan originators earn a median salary of $84,480.
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Minnesota Median
$84,480
National Median
$74,180
Minnesota pays 14% above the national median.
Source: BLS OEWS, May 2024
Government licensing fees in Minnesota typically range from N/A. This includes application fees, exam fees, and initial licensing fees. Education and training program costs are additional.
The total time from starting education to receiving your license is typically 6 weeks – 4 months in Minnesota, including education, exam preparation, and application processing.
The median annual salary for a mortgage loan originator in Minnesota is $84,480, compared to the national median of $74,180 (BLS OEWS, May 2024).
Minnesota requires the SAFE MLO Test (NMLS National Component) with a national pass rate of 55%. Approved education programs will prepare you for this exam.
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Salary data from BLS Occupational Employment and Wage Statistics (OEWS), May 2024. Licensing costs derived from official Minnesota licensing board data. Timelines include education, examination, and application processing. Individual program costs and durations may vary. Always verify requirements with the state licensing authority.