How much does it cost to become a mortgage broker?

Fixed costs start with the $120 NMLS processing fee for a company license, plus state application fees that range widely, for example $425 in Florida, $1,001 in Washington, and $1,500 for New York broker registration. Most states also require a surety bond; the amount is set by state law and the premium varies with the applicant's credit. Surety-industry estimates put total broker startup costs at several thousand dollars.

The Alabama mortgage broker application fee is $600 and is nonrefundable, and applicants must document $25,000 of tangible net worth or post a surety bond in an amount the department determines. Annual renewal costs $500, and a renewal filed after February 1 draws a 10% penalty for each month or part of a month delinquent. Brokers also owe a $100-per-day late penalty for the annual report if it is filed after May 1.

Arizona's fixed loan originator licensing fees include a $350 nonrefundable state application fee, a $150 initial license fee, a $110 exam fee, a $35 NMLS filing fee, a $36.25 background check, and a $15 credit report. A $100 mortgage recovery fund payment applies if your employer lacks a $200,000 surety bond. Education costs vary by provider, so expect to pay several hundred dollars more for the required 20 hours of coursework.

A mortgage broker's main costs are regulatory capital and the bond. Arkansas requires a minimum $100,000 surety bond, rising to $150,000 above $10 million in prior-year Arkansas loan volume and $200,000 above $25 million, and the bond is filed through the NMLS electronic surety bond process. A mortgage banker must also show $25,000 in net worth, and companies pay NMLS filing fees on top of the state charges.

It depends on the track. A DRE real estate broker license costs $150 for the exam and $450 for the license, or $600 combined on form RE 436, plus a $49 fingerprint fee. The MLO endorsement adds $335 (a $300 DRE fee plus a $35 NMLS fee), a $110 test fee, a $36.25 background check, and a $15 credit report. The 20 hours of pre-licensing education cost extra, and prices vary by provider.

The Colorado application fee is $5.00 per the Division of Real Estate fee schedule updated September 30, 2026. NMLS charges separate fees: a $35 individual initial set-up fee, a $36.25 criminal background check, a $15 credit report, and $110 for the SAFE test. Course prices vary by provider, so your total cost depends on the education you choose; most applicants spend several hundred dollars overall.

A Florida mortgage broker license application costs a $425 nonrefundable state application fee plus a $100 Mortgage Guaranty Trust Fund fee. Filing through the Nationwide Mortgage Licensing System (NMLS) adds a $120 company processing fee, and each control person adds a $15 credit report fee and about $39 in state and FBI criminal history check fees, plus any live scan vendor charges. Unlike Florida mortgage lenders, mortgage brokers face no net worth or audited financial statement requirement.

A new Georgia Mortgage Broker/Processor License costs $650 plus NMLS fees, which the state fee rule breaks down as a $400 license fee plus a $250 initial investigation fee. Each Georgia branch approval costs $330 plus NMLS fees, and the annual renewal fee is $400. The licensee must also maintain a minimum tangible net worth as a continuing condition of the license.

Running your own brokerage in Hawaii requires both an individual mortgage loan originator (MLO) license and a company (MLOC) license. The individual side costs a $600 application fee, a $200 recovery fund fee, the $110 test fee, $35 for the state background check, $36.25 for fingerprint processing, $15 for the credit report, and the $35 filing fee to the Nationwide Multistate Licensing System & Registry (NMLS). The company side adds a $900 application fee, a $300 recovery fund fee, a $120 company filing fee, and $35 for each control person. Course fees vary by provider.

For an individual mortgage loan originator license, the fixed costs are a $200 state application fee, a $35 NMLS processing fee, $110 for the SAFE MLO Test, $36.25 for the criminal background check, and $15 for the credit report. The required 20-hour pre-license education course is a separate cost, and prices vary by education provider.

The state fee for an Iowa mortgage broker company license is $500 for the initial license, with a $200 annual renewal. The applicant also files a $100,000 surety bond, or $150,000 for annual residential loan volume above $100,000,000, and pays $40 for each additional branch location. Nationwide Multistate Licensing System (NMLS) and third-party fees apply in addition.

A Kansas mortgage broker license costs $400 for the new application plus a $250 initial license fee, paid to the Kansas Office of the State Bank Commissioner through NMLS. The company must also carry a surety bond, which Kansas regulation sets between $50,000 and $125,000 depending on whether it keeps a bona fide Kansas office and how much it originated the prior year. Education, testing, and individual fees are separate if you will also originate loans yourself.

A Kentucky mortgage loan broker license costs $1,000, which covers the application fee and licensing fee for all licensed locations (KRS 286.8-034). The broker must also post a surety bond of at least $50,000 and pay NMLS processing fees for the company filing. The annual assessment for a mortgage loan broker is a flat $1,000, and entities renew by November 30 each year.

A Louisiana mortgage broker pays a $500 application fee plus a surety bond: $25,000 if prior-calendar-year loan volume was under $100,000,000, or $50,000 at $100,000,000 or more. An equal deposit at a federally insured Louisiana depository institution can replace the bond. The annual renewal fee is $400, the Office of Financial Institutions charges $400 for an examination per office location, and NMLS processing fees are extra.

The Maine loan broker application fee is $300 per license, a branch application is $150, renewal is $200 per license, branch renewal is $100, and amendments are $25, all nonrefundable through NMLS. A broker must also post a $25,000 surety bond for each licensed location, though Maine imposes no net worth requirement. Since September 1, 2025, licensees must convert to an electronic surety bond through NMLS by January 31, 2026.

A Minnesota mortgage broker (a Residential Mortgage Originator company license) pays a $1,000 initial license fee to the commissioner, plus a $120 NMLS company filing fee, and must file a $125,000 surety bond. The company license renews each year for $500. All fees are nonrefundable except overpayments.

The initial mortgage broker license fee is $2,000, and NMLS charges a $120 processing fee per company license. The company must also obtain a $50,000 electronic surety bond, and each branch office carries a $500 initial fee. A qualifying individual with a minimum of 2 years of mortgage-related experience is also required.

Company-level state fees include a $300 one-time application and investigation fee, due at submission, and a $600 annual license fee upon approval. The surety bond is the larger requirement, starting at $50,000 and scaling with loan volume, up to $250,000 for brokered loans or $500,000 for funded or serviced loans at the highest volume tier. If you will originate loans yourself, add a $50 Missouri application fee, a $35 NMLS processing fee, and the $110 SAFE test fee, plus background check and credit report charges.

The Montana mortgage broker application fee is $500, or $100 if the broker entity is owned by a Montana-licensed mortgage loan originator. Brokers have no minimum net worth requirement. They must carry a surety bond of $25,000 (up to $50 million in annual loan volume), $50,000 ($50 million to $100 million), or $100,000 (over $100 million). The annual renewal fee is $125, plus the NMLS processing fee.

In Nebraska, individuals operate as licensed mortgage loan originators rather than under a separate broker title. Expect the $150 state application fee plus the $35 NMLS processing fee, a $36.25 fingerprint-based criminal background check, a $15 credit report, and the $110 national test component. You must also complete 22 hours of NMLS-approved pre-licensing education, including 2 hours of Nebraska-specific law, purchased from an approved provider at prices that vary by provider.

As of September 2026, the Nevada Division of Mortgage Lending charges mortgage companies a $1,200 application fee, an $800 first annual licensing fee, and a $400 annual renewal. NMLS adds a $120 initial setup fee and a $120 annual processing fee for company filings, separate from state fees. The company must also post an electronic surety bond through NMLS, with the amount based on annual loan production; bonds uploaded as documents do not satisfy the requirement.

To become a Residential Mortgage Broker in New Jersey, the business pays a $1,200 state application fee plus a $120 NMLS processing fee. The required Qualified Individual adds a $500 state fee plus $35 in NMLS processing, and each branch office costs $1,000 plus NMLS fees. The company must also carry a $150,000 surety bond, and education and exam costs vary by provider.

New Mexico charges a $200 application fee and a $200 license fee for an individual mortgage loan originator license. NMLS adds a $36.25 criminal background check fee, a $15 credit report fee, and a $35 processing fee. Course costs for the required 20 hours of pre-licensing education vary by provider. If you open your own mortgage loan company, the application, license, and supervisory fees are $500 each.

A New York Mortgage Broker Registration carries a $1,500 application fee under Banking Law section 591-a, and fingerprint fees are paid directly to IdentoGO at the time of fingerprinting. New applicants must also file a $10,000 surety bond, which rises with annual loan volume up to $100,000. If you serve as the qualifying individual, you also need an individual mortgage loan originator license, which carries separate state fees paid through the Nationwide Multistate Licensing System (NMLS) plus the cost of 20 hours of pre-licensing education, which varies by provider.

Becoming a mortgage broker in North Carolina starts with the $1,250 company application fee from the state fee schedule revised October 1, 2025, plus processing fees that the Nationwide Multistate Licensing System (NMLS) collects for credit reports and background checks. The company must also post a surety bond beginning at $75,000 and certify $10,000 in liquidity. All fees are non-refundable.

Plan on $200 for the Ohio application fee, $35 for NMLS processing, $15 for the credit report, $36.25 for the FBI background check, and $110 for the SAFE MLO test. Because Ohio no longer issues a separate individual broker license, these fixed fees apply to the single Mortgage Loan Originator License. Pre-license education costs vary by provider, so the total depends on the course you choose.

For an individual loan originator, Oregon charges a non-refundable $80 state application fee, and NMLS charges a $35 processing fee for the Form MU4 filing. NMLS also charges $36.25 for the FBI background check and $15 for the credit report, and the national test costs $110. Pre-licensing education costs are separate and vary by provider.

The NMLS company (Form MU1) initial set-up fee is $120, and Rhode Island loan brokers must also post a $20,000 surety bond through NMLS. Rhode Island charges its own state application and license fees on top of NMLS charges, and fees paid through NMLS are not refundable. Other costs include financial statement preparation and credit reports for directors, executive officers, the Qualifying Individual, and any owner with 10% or more direct ownership.

The main costs are the license fee and the surety bond. A South Carolina mortgage broker company pays a $550 initial license fee plus a one-time $200 processing fee, and must post a surety bond of at least $25,000, which rises with loan volume. Add the actual cost of credit reports and FBI background checks, plus $150 for each branch office license. Renewal is $550 each year.

For a Tennessee mortgage loan broker company license, the NMLS processing fee (Form MU1) is $120. The company must post a $90,000 surety bond, tiered after the first renewal cycle by prior-year Tennessee residential loan volume ($45,000 under $10 million, $90,000 at $10 million to under $50 million, $135,000 at $50 million or more). Individuals originating loans under the company also pay their own costs, such as the $35 NMLS individual processing fee and the $110 SAFE test fee.

The company-side license costs $325 for a new application and $275 to renew. Individual originators pay a $125 application fee plus a $20 recovery fee, a $35 individual set-up fee paid to the Nationwide Multistate Licensing System (NMLS), $110 for the SAFE MLO test, $36.25 for the FBI fingerprint check, and $15 for the credit report. These fees took effect November 1, 2024 and remain unchanged for FY2027. Pre-licensing education is an additional cost that varies by provider.

You pay several fees through NMLS: a $35 MU4 initial set-up fee, $110 for the national test, $36.25 for the criminal background check, and $15 for the credit report, plus state licensing fees that vary by agency. Prelicensing education costs vary by provider. All fees are nonrefundable whether the application is granted or denied.

The initial mortgage broker application costs $1,100: a $500 license fee, a $500 investigation fee, and the $100 NMLS processing fee. A corporate renewal costs $600, and a branch renewal costs $530. The company must also carry a surety bond of at least $25,000, an amount that increases with the dollar volume of loans originated in Vermont.

For the individual mortgage loan originator license, the usual starting point, expect roughly $550 to $850 total: a $150 Virginia application fee, a $110 SAFE test fee, a $36.25 FBI background check, a $15 credit report, and NMLS processing fees, plus the 20-hour pre-licensing course, which varies in price by provider. A company mortgage broker license adds a non-refundable application fee and a surety bond of at least $25,000.

Plan on a $1,001 application fee for a new Washington Mortgage Broker Main Office License, which DFI breaks down as a $901 state fee plus a $120 NMLS system fee, plus a $20,000 electronic surety bond issued through NMLS (the premium varies by surety provider). Additional costs include $185 plus $23 for each branch, a $33 NMLS fee for the Designated Broker Registration, and $50 plus $35 for each MLO the company sponsors.