How much does it cost to get a mortgage broker license?
Company-level mortgage broker license costs vary by state. Typical items include the state application fee, for example $600 in Massachusetts and $1,001 in Washington, the $120 NMLS company processing fee (as of March 2025), and a surety bond or net worth requirement, such as Washington's $20,000 bond or New York's $10,000 bond. Bond amounts vary widely by state and may scale with loan volume.
A new Florida mortgage broker license costs a $425 nonrefundable state application fee plus a $120 NMLS company filing fee, and the $100 fee under s. 494.00172 if required. Each control person adds a $15 credit report fee and about $39 in FDLE state and FBI criminal history fees, paid to an approved live scan vendor that may charge its own service fee. All fees are nonrefundable, and NMLS fees are subject to change.
Sources: Fla. Stat. 494.00321: Mortgage broker license; NMLS: Processing Fees; Fla. Stat. 494.00172: Mortgage Guaranty Trust Fund fee; Florida Department of Law Enforcement (FDLE) — Criminal History Record Check Fee Schedule.
A New Jersey Residential Mortgage Broker license for a business entity costs a $1,200 state application fee plus a $120 NMLS processing fee, and all fees are nonrefundable. The entity must also carry a surety bond of at least $150,000 and designate a Qualified Individual, whose application fee is $500. Each branch office adds a $1,000 state fee plus a $25 NMLS processing fee.
Sources: NJ DOBI: Licensure under the RMLA through NMLS (new applications and fees); NMLS: Processing Fees; N.J.A.C. 3:15-3.1: Bond requirements.
The Mortgage Broker Original Registration fee is $1,500 under Banking Law section 591-a, plus $500 for each branch office and $1,500 for a change of control. A new applicant must also post a $10,000 surety bond, or a $10,000 deposit agreement as an alternative, and pay fingerprint fees directly to IdentoGO at the time of fingerprinting. The registration is then maintained through quarterly general assessments rather than an annual renewal fee.
Sources: NY DFS: Application Fee Schedule; 3 NYCRR § 410.14: Corporate surety bonds for mortgage brokers.
A new Washington Mortgage Broker (company) main office license costs $1,001 total, which the Washington Department of Financial Institutions (DFI) breaks into a $901 state application fee plus a $120 NMLS system fee. New applicants must also post a $20,000 electronic surety bond and appoint a Designated Broker who has passed the Designated Broker Test.
Sources: WA DFI — Mortgage Broker Licensing; WA DFI — Mortgage Cost Sheet (Summary of Costs for Mortgage Broker Applicants).