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Loan Associate Jobs in Rochester, MN (NOW HIRING)

Hanger, Inc.

Associate Fabricator

Rochester, MN · On-site

$19 - $20/hr

The Associate Fabricator fabricates the orthoses and prostheses to provide maximum fit, function ... Student Loan Repayment Assistance by Location * Relocation Assistance * Regional & National ...

Hanger, Inc.

Associate Fabricator

Rochester, MN · On-site

$19 - $20/hr

The Associate Fabricator fabricates the orthoses and prostheses to provide maximum fit, function ... Student Loan Repayment Assistance by Location * Relocation Assistance * Regional & National ...

Verizon

Retail Sales Associate

Rochester, MN · On-site

$65K - $75K/yr

As a full-time Verizon Retail Sales Associate, you'll have the opportunity to grow your career with ... loan repayments, or a combination of both * Sales recognition programs that have, in the past ...

Verizon

Retail Sales Associate

Rochester, MN · On-site

$65K - $75K/yr

As a full-time Verizon Retail Sales Associate, you'll have the opportunity to grow your career with ... loan repayments, or a combination of both * Sales recognition programs that have, in the past ...

Banfield Pet Hospital

Veterinarian - Part-Time

Highland, MN · On-site

$40K - $110K/yr

If you are a current associate, you will need to apply through our internal career site. Please log ... School loan assistance through our Student Debt Relief Program * Equity, inclusion, and diversity ...

Banfield Pet Hospital

Veterinarian - Full-Time

Highland, MN · On-site

$102K - $170K/yr

If you are a current associate, you will need to apply through our internal career site. Please log ... School loan assistance through our Student Debt Relief Program * Equity, inclusion, and diversity ...

Olmsted County

Housing Rehab Coordinator

Rochester, MN · On-site

$34.62 - $57.83/hr

... Associate's degree from an accredited college in a building trades field and three (3) years of ... Writes grant and loan agreements for local officials and property owners. Assists with applications ...

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Loan Associate information

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How much do loan associate jobs pay per hour?

As of Sep 2, 2026, the average hourly pay for loan associate in Rochester, MN is $20.67, according to ZipRecruiter salary data. Most workers in this role earn between $14.66 and $24.90 per hour, depending on experience, location, and employer.

What does a loan associate do?

A Loan Associate assists clients with the loan application process, reviews financial documents, and helps determine eligibility for various loan products. They work closely with loan officers and underwriters to ensure all required documentation is complete and accurate. Additionally, Loan Associates may answer customer questions, verify information, and process paperwork to support timely loan approvals and disbursements.

What are the key skills and qualifications needed to thrive as a loan associate?

To thrive as a Loan Associate, you need a solid understanding of financial principles, loan processing procedures, and regulatory compliance, often supported by a degree in finance or a related field. Familiarity with loan origination software, credit analysis tools, and document management systems is commonly required. Strong attention to detail, customer service orientation, and effective communication skills help Loan Associates excel in client interactions and team environments. These skills and qualities are vital for ensuring accurate loan processing, regulatory adherence, and positive client experiences.

What are some common challenges faced by loan associates during the loan processing cycle?

Loan Associates often encounter challenges related to balancing multiple loan applications simultaneously while ensuring compliance with regulatory requirements. They must carefully verify documentation, communicate effectively with applicants, and coordinate with underwriters and loan officers to keep the process on track. Staying organized and adaptable is key, as changes in applicant circumstances or evolving lending guidelines can require prompt adjustments. Successfully managing these tasks helps ensure timely loan approvals and a positive borrower experience.

What is the difference between Loan Associate vs Mortgage Processor?

AspectLoan AssociateMortgage Processor
CredentialsHigh school diploma or equivalent; some roles may prefer relevant certificationsHigh school diploma; some roles may require mortgage-specific certifications
Work EnvironmentBank branches, credit unions, or financial institutionsMortgage companies, banks, or lending institutions
Job ResponsibilitiesAssisting clients, gathering documents, processing loan applicationsReviewing documents, verifying information, preparing files for approval
Industry UsageCommonly employed in retail banking and lendingPrimarily in mortgage lending and real estate finance

While both roles support the loan process, a Loan Associate typically handles client interactions and initial documentation, whereas a Mortgage Processor focuses on verifying and preparing mortgage files for approval. Understanding these differences can help job seekers identify the right position in the lending industry.

How much does a loan associate make?

A loan associate typically earns between $35,000 and $50,000 annually, depending on experience, location, and employer. Some positions may offer additional commissions or bonuses based on performance, and strong customer service skills are often required.

What cities near Rochester, MN are hiring for Loan Associate jobs?

Cities near Rochester, MN with the most Loan Associate job openings:

Loan Associate jobs near you

Mortgage Loan Officer

Minnesota Bankers Association

Byron, MN • On-site

$70 - $90/hr

Other

Medical, Dental, Life, Retirement, PTO

Posted yesterday

New

Job description

Position Overview

In this role, you will originate mortgage and home equity loans by building relationships, identifying customer needs, and guiding borrowers through the lending process from application to closing. You’ll serve as the primary point of contact and play a key role in growing our lending portfolio.

What You’ll Do
  • Serve as the primary contact for customers throughout the loan process
  • Assist borrowers in selecting the right loan program and completing applications
  • Gather and review supporting documentation to initiate loan processing
  • Conduct preliminary underwriting review, including credit analysis
  • Provide clear, consistent guidance from application through closing
  • Build and maintain strong referral relationships (realtor, builders, community partners, etc.)
  • Proactively generate new loan opportunities through networking and outreach
  • Maintain knowledge of loan products, pricing, and underwriting guidelines for mortgages, home equity loans, and home equity lines of credit
  • Ensure compliance with all federal lending regulations (TILA, RESPA, etc.)
What You Bring
  • Strong relationship‑building and communication skills
  • Strong knowledge of all consumer regulations, including Regulation B, G and Z, Uniform Commercial Code, FHLBB, FSLIC, RESPA, HPA, HMDA, TILA, Privacy and Fair Lending laws.
  • A professional, approachable, and customer‑focused demeanor
  • Ability to analyze financial information and make sound recommendations
  • Working knowledge of mortgage processing, underwriting, and closing procedures for both secondary market and in‑house loans
  • Ability to maintain discretion and confidentiality
  • High level of accuracy, focus, and timeliness
  • Proficiency in Microsoft Outlook, Word, and Excel
Benefits Overview
  • Health insurance
  • 401(k) matching
  • Paid time off
  • Health savings account
  • Dental insurance
  • Life insurance
  • Employee assistance program
  • Disability insurance
  • Volunteer time off
  • Paid holidays
Required Qualifications
  • High School Diploma or equivalent
  • Associate’s degree in business, finance or related field, preferred
  • Minimum 5 years of mortgage loan origination/sales experience
  • Active NMLS registration (or ability to obtain) under the S.A.F.E. Act
Equal Employment Opportunity Statement

First Security Bank is an Equal Opportunity Employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, ethnicity, gender, sexual orientation, gender identity, national origin, veteran status, or disability.

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