Mortgage Broker Bond Calculator
Calculate Your Mortgage Broker Bond Cost by State
Mortgage brokers and lenders must carry a surety bond as part of NMLS licensing. Bond amounts range from $25,000 to $500,000 depending on your state.
Mortgage Broker Bond Calculator
Mortgage Broker Bond Amounts by State
Mortgage Broker Bond Calculator FAQs
How much does a mortgage broker bond cost?
Mortgage broker bond costs vary by state, with bond amounts ranging from $25,000 to $500,000. Annual premiums are typically 1-5% of the required bond amount. For example, a $100,000 mortgage broker bond costs $1,000-$5,000 per year depending on your credit score and financial history. Use our calculator above to get an instant estimate for your state.
What states require a mortgage broker bond?
Most states require a surety bond for mortgage brokers and lenders as part of NMLS licensing. Bond amounts vary significantly by state, from $25,000 in California and Florida to $150,000 or more in states like Georgia, Massachusetts, New Jersey, and North Carolina. Check the state comparison table above for specific amounts.
Is the mortgage broker bond the same as an NMLS bond?
Yes, the mortgage broker bond is commonly called an NMLS bond because it is required as part of the Nationwide Multistate Licensing System (NMLS) application. Each state sets its own bond amount and requirements through the NMLS platform. The bond protects consumers by guaranteeing the mortgage broker will follow state laws and regulations.
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