New York Mortgage Licensing

New York’s banker license requires a minimum net worth of $250k. There is no net worth requirement for the broker license. New York has high investigation fees for both licenses; $1,600 for the broker and $3,100 for the banker. New York requires their QI be a licensed MLO as well as either an owner, partner, trustee or officer of the applicant. Personal financial statements and personal questionnaires are required by the control persons, including directors and three most senior executive officers. The three most senior executive officers will also have to submit a resume. Fingerprint cards will need to be completed, preferably within the most recent 12 months.

StateLicense NameState FeeBond Premium Est.
SOS FeeMLG Processing FeeTotal
New YorkMortgage Broker Registration$1,600$75$250Call for More Information$1,925
New YorkMortgage Banker License$3,100$375$250Call for More Information$3,725

License: Mortgage Broker Registration

  • Operating Status: Broker
  • Bond Amount: $10,000
  • Net Worth: N/A
  • Brick & Mortar: No
  • Financial Type:  N/A

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License: Mortgage Banker License

  • Operating Status: Lender/Broker
  • Bond Amount: $50,000
  • Net Worth: $250,000
  • Brick & Mortar: No
  • Financial Type: Audited (past 2 years)

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

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

**Fees & terms are subject to change without notice.**