West Virginia Mortgage Licensing
West Virginia is one of the few states that requires a separate license for brokering and lending activity, therefore you will be required to hold both licenses if conducting both activities. A net worth requirement is in place for each license. The broker license minimum net worth is $10k , while the lender is much higher at $250k. West Virginia also requires state specific fingerprint cards which can be requested from the state itself. West Virginia requires an onsite QI at the corporate office as well as a licensed WV MLO at each licensed location. While the QI can be a branch manager, their business address must match the main address on the MU1.
| State | License Name | State Fee | Bond Premium Est. | SOS Fee | MLG Processing Fee | Total |
| West Virginia | Mortgage Broker | $450 | $375 | $150 | Call for More Information | $975 |
| West Virginia | Mortgage Lender | $1,350 | $750 | $150 | Call for More Information | $2,250 |
License: Mortgage Broker License
- Operating Status: Broker
- Bond Amount: $50,000
- Net Worth: $10,000
- Brick & Mortar: No
- Financial Type: Unaudited
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License: Mortgage Lender License
- Operating Status: Lender
- Bond Amount: $100,000
- Net Worth: $250,000
- Brick & Mortar: No
- Financial Type: Unaudited
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.**