New Jersey

NJ has strict Qualified Individual requirements that requires a certain NJ license depending on which company license is applied for. This is not the normal NJ MLO license – this is a separate QI license application.

StateLicense NameState FeeBond Premium Est.
SoS FeeMLG ProcessingTotal
New JerseyResidential Mortgage Broker License$1300.00$1125.00$300.50Call for More Information$2725.50
New JerseyResidential Mortgage Lender License$1300.00$1125.00$300.50Call for More Information$2725.50
New JerseyCOA + Bond$100.00$75.00$407.00Call for More Information$582.00

License: Residential Mortgage Lender License

  • Operating Status: Lender/Broker
  • Bond Amount: $150,000
  • Net Worth: $250,000
  • Brick & Mortar: No
  • Audited Financials: Yes

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Residential Mortgage Broker License

NJ Qualified Individual requirements: At least one individual who is an officer, director, partner, member, owner or principal must obtain a Qualified Individual license of the same type as that being applied for by the company. Company must have audited financial statements showing that the company meets the minimum tangible net worth requirement of $50,000. This application requires a high surety bond amount of $150,000. Each officer will need to completed federal and NJ state fingerprinting processes.

License: Residential Mortgage Broker License

  • Operating Status: Broker
  • Bond Amount: $150,000
  • Net Worth: $50,000
  • Brick & Mortar: No
  • Audited Financials: Yes

Run our License Calculator to estimate licensing costs with all 50 states!

Residential Mortgage Lender License

NJ Qualified Individual requirements: At least one individual who is an officer, director, partner, member, owner or principal must obtain a Qualified Individual license of the same type as that being applied for by the company. This application requires a very high net worth of $250,000 to be shown on audited financial statements submitted by the company. This application requires a high surety bond amount of $150,000.Each officer will need to completed federal and NJ state fingerprinting processes.

For more information or to speak to a representative for your state call us today at 866-576-7726