Mortgage Bond Amount Calculator

The bond amount you need for your Surety Bond depends on the state your license is for and the type of license you need.

Alabama Mortgage Brokers require a bond based on their loan volume amount from the previous year:

$0 - $25,000,000: $25,000 bond

$25,000,000 - $100,000,000: $50,000 bond

More than $100,000,000: Minimum $75,000 bond

Alabama Mortgage Loan Originators do not need to get a bond.

Alaska Mortgage Broker/Lenders need to get a $75,000 bond.

Alaska Mortgage Loan Originators do not need to get a bond.

Arizona Mortgage Banker Bond amounts are as follows:

If your investors are limited solely to institutional investors: $25,000 bond

If your investors are other than institutional investors, your bond amount is computed on a base consisting of your total assets plus the unpaid balance of loans you contracted at the end of your fiscal year.

Less than $100,000,000: $25,000 bond for the first $500,000 (plus $5,000 for each $100 or fraction thereof over $500,000)

$1,000,001 to $10,000,000: $50,000 bond (plus $5,000 for each $1,800,000 or fraction thereof over $1,000,000)

$10,000,001 to $100,000,000: $75,000 bond (plus $5,000 for each $18,000,000 or fraction thereof over $10,000,000)

More than $100,000,001: $100,000 bond

Arizona Mortgage Brokers will need to get a $10,000 bond if your investors are limited solely to institutional investors. Otherwise, the bond amount is $15,000.

Institutional investor means a state or national bank, a state or federal savings and loan association, a state or federal savings bank, a state or federal credit union, a federal government agency or instrumentality, a quasi-federal government agency, a financial enterprise, a licensed real estate broker or salesman, a profit-sharing or pension trust, or an insurance company.

Arizona Mortgage Loan Originators will need to contribute $100 to a state recovery fund.

As long as your employer is covered by a $200,000 loan originator bond, there is no other surety bond requirement to meet.

Arizona Commercial Bankers require a $25,000 if your investors are limited solely to institutional investors. Otherwise, the surety bond amount is $100,000.

Institutional investor means a person who in the regular course of business makes commercial mortgage loans of more than two hundred fifty thousand dollars that are funded exclusively from the institutional investor's own resources.

Arizona Commercial Mortgage Brokers require a $10,000 bond if your investors are limited solely to institutional investors. Otherwise, the bond amount is $15,000.

Institutional investor means a state or national bank, a state or federal savings and loan association, a state or federal savings bank, a state or federal credit union, a federal government agency or instrumentality, a quasi-federal government agency, a financial enterprise, a licensed real estate broker or salesman, a profit-sharing or pension trust, or an insurance company.

Arkansas Mortgage Bankers require a $100,000 bond

Arkansas Mortgage Brokers require a $100,000 bond

Arkansas Mortgage Servicers require a $100,000 bond

Arkansas Broker/Banker/Servicer Combo requires a $100,000

Arkansas Loan Officers do not need to get a bond.

California Mortgage Loan Originators do not need to get a bond.

California Mortgage Broker, Mortgage Lender, or Mortgage Lender and Broker will need to get a bond based on their aggregate dollar amount of residential mortgage loans from the following year:

$0 - $1,000,000,000: $25,000 bond

$1,000,000 - $50,000,000: $50,000 bond

$50,000 - $500,000,000: $100,000 bond

More than $500,000,000: $200,000 bond

Colorado Mortgage Company Registration requires no bond.

Individual Colorado Mortgage Loan Originators require a $25,000 bond.

Company Colorado Mortgage Loan Originator Bonds are as follows:

Less than 20 employees: $100,000 bond

More than 20 employees: $200,000 bond

Connecticut Mortgage Brokers require a $50,000 bond

Connecticut Mortgage Lenders require a $100,000 bond

Connecticut Mortgage Servicers require a $100,000 bond

Connecticut Correspondent Lenders require a $100,000 bond

Connecticut Mortgage Loan Originators do not require a bond.

Delaware Mortgage Loan Originators will require a bond in an amount that reflects the dollar amount of loans originated as determined by the Commissioner.

Delaware Mortgage Brokers require a $25,000 bond.

Delaware Mortgage Lenders require a bond that is between $50,000 and $200,000.

The bond amount will be determined by the Commissioner and be based on the dollar value of your business, the dollar value of advanced fees, periods for which fees were held before a loan is funded, and any other criteria the Commissioner may deem necessary.

The state of Florida doesn't require a bond for this license type.

Georgia Mortgage Broker/Processors require a $150,000 bond.

Georgia Mortgage Lenders require a $250,000 bond.

Georgia Mortgage Loan Originators do not require a bond.

Hawaii Mortgage Loan Servicers require a $100,000 bond.

The state of Hawaii doesn't require a bond for this license type.

Idaho Mortgage Brokers/Lenders do not require a bond.

Idaho Mortgage Loan Originators do not require a bond, but they do require you to contribute $100 to a recovery fund.

Illinois Residential Mortgage licensees are required to submit a bond in an amount based upon Illinois residential mortgage loans brokered, funded, originated, serviced or purchased during the preceding calendar year.

$0 - $5,000,000: $25,000 bond

$5,000,001 - $20,000,000: $50,000 bond

$20,000,001 - $50,000,000: $75,000 bond

$50,000,001 - $100,000,000: $100,000 bond

Over $100,000,000: $150,000 bond

Illinois Mortgage Loan Originators do not require a bond.

Indiana Mortgage Lenders require a $100,000 bond.

Indiana Mortgage Loan Originators do not require a bond.

Indiana Loan Brokers require a bond in an amount which is based on the previous year's loan volume:

Less than $5,000,000: $50,000 bond

$5,000,0000 - $20,000,000: $60,000 bond

Over $20,000,001: $75,000 bond

Iowa Mortgage Bankers require a bond amount which is based on the volume of residential mortgage loans made, originated, arranged, brokered, processed, underwritten and serviced during the preceding calendar year:

$0 - $100,000,000: $100,000 bond

$100,000,000+: $150,000 bond

Iowa Mortgage Brokers require a bond amount which is based on the volume of residential mortgage loans made, originated, arranged, brokered, processed, underwritten and serviced during the preceding calendar year:

$0 - $100,000,000: $100,000 bond

$100,000,000+: $150,000 bond

Iowa Mortgage Loan Originators are not required to get a bond.

Kansas Mortgage Company bond amounts are based on if you have a "bona fide office" (an actual physical location) in Kansas. The bond amounts are as follows:

Kansas bona fide office: $50,000 bond unless you originated or made more than $50,000,000 in Kansas mortgage loans in the previous calendar year, then $75,000 bond.

No Kansas bona fide office: $100,000 bond unless you originated or made more than $50,000,000 in Kansas mortgage loans in the previous calendar year, then $125,000 bond.

Kansas Mortgage Loan Originators do not require a bond.

Kentucky Mortgage Companies require a $250,000 bond.

Kentucky Mortgage Brokers require a $50,000 bond.

Kentucky Mortgage Loan Originators require a bond based on their previous year's annual loan volume:

Less than $10,000,000: $15,000 bond

More than $10,000,000: $20,000 bond

Louisiana Residential Mortgage Lenders are required to get a bond in an amount based on their previous year's loan volume:

$0 - $99,999,999: $25,000 bond

More than $100,000,000: $50,000 bond

Louisiana Mortgage Loan Originators are only required to get a bond if your employer does not submit an employer affidavit.

If a bond is required, the bond amount required is based on their previous year's loan volume:

$0 - $99,999,999: $25,000 bond More than $100,000,000: $50,000 bond

Maine Mortgage Loan Brokers require a $25,000 bond.

Maine Mortgage Loan Originators do not need to submit a bond if they are covered by a company bond, also known as sponsorship.

In lieu of sponsorship, a $25,000 bond can be submitted.

Maryland Mortgage Lenders require a bond in an amount based on the volume of mortgage business in the last 12 months:

Less than $3,000,000: $50,000

$3,000,000 - $10,000,000: $100,000

More than $10,000,000: $150,000

Maryland Mortgage Loan Originators do not require a bond.

Massachusetts Mortgage Brokers require a $75,000 bond.

Massachusetts Mortgage Lenders require a $100,000 bond.

Massachusetts Mortgage Loan Originators do not require a bond.

If you will receive funds from prospective borrowers prior to closing mortgage loans you will need to get a $25,000 bond.

If you will not receive funds, you can mail a FIS 1140 Exemption Declaration in lieu of a bond.

1st Mortgage Broker, Lender, and Servicers will need a $125,000 bond.

2nd Mortgage Broker and Lenders will need a $25,000 bond.

2nd Mortgage Broker, Lender, Servicers need a $125,000 bond.

Michigan Mortgage Loan Originators applying for the first time will require a $100,000 bond.

If applying not for the first time, bond amounts are based off loan volume from the previous year:

$0 - $12,000,000: $10,000 bond

$12,000,000 - $24,000,000: $25,000 bond

More than $24,000,001: $50,000 bond

If the company has no prior loan origination volume in Minnesota, the bond amount is $100,000.

If the company does have prior loan origination volume, the bond amount is based off the following year's loan volume as follows:

$0 to $5,000,000: $100,000 bond

$5,000,000.01 to $10,000,000: $125,000 bond

$10,000,000.01 to $25,000,000: $150,000 bond

Over $25,000,000: $200,000 bond

Minnesota Mortgage Loan Originators must be covered in an amount determined by the Commissioner.

In the event that the MLO is an employee or exclusive agent of a person subject to the requirements, the surety bond of that individual can be used in lieu of the MLO’s surety bond.

Mississippi Mortgage Brokers need a $25,000 bond.

Mississippi Mortgage Lenders need a $150,000 bond.

Mississippi Mortgage Loan Originators are not required to get a bond.

Missouri Residential Mortgage Loan Brokers need a $50,000 bond.

Missouri Mortgage Loan Originators are not required to have a bond.

Montana Mortgage Brokers who have no prior business history in Montana or who have been in business for less than a year require a $25,000 bond.

Otherwise the bond amount is based off the previous year's loan volume:

Less than $50,000,000: $25,000 bond

$50,000,000 - $100,000,000: $50,000 bond

$100,000,000+: $100,000 bond

Montana Mortgage Lenders who have no prior business history in Montana or who have been in business for less than a year require a $25,000 bond.

Otherwise the bond amount is based off the previous year's loan volume:

Less than $50,000,000: $25,000 bond

$50,000,000 - $100,000,000: $50,000 bond

$100,000,000+: $100,000 bond

Montana Mortgage Servicers need a $100,000 bond.

Montana Mortgage Loan Originators do not require a bond.

Nebraska Mortgage Loan Originators do not require a bond.

Nebraska Mortgage Bankers need a $100,000 bond.

Nevada Mortgage Bankers need a bond based off the previous year's loan production:

Less than $2,000,000: $50,000 bond

More than $2,000,000: $75,000 bond

Nevada Mortgage Brokers need a bond based off the previous year's loan production:

Less than $2,000,000: $50,000 bond

More than $2,000,000: $75,000 bond

Nevada Mortgage Servicers need a bond based off the previous year's loan production:

Less than $50,000,000: $100,000 bond

$50,000,000 - $500,000,000: $200,000 bond

More than $500,000,000: $300,000 bond

Nevada Mortgage Agents do not require a bond.

New Hampshire Mortgage Bankers need a $100,000 bond.

New Hampshire Mortgage Servicers need a $100,000 bond.

New Hampshire Mortgage Brokers need a $50,000 bond.

New Hampshire Mortgage Loan Originators do not require a bond.

New Jersey Correspondent Residential Mortgage Lenders require a $150,000 bond.

New Jersey Residential Mortgage Brokers require a $150,000 bond.

New Jersey Residential Mortgage Lenders require a $150,000 bond.

New Jersey Mortgage Loan Originators do not require a bond.

New Jersey Qualified Individual Correspondent Residential Mortgage Lenders do not require a bond.

New Jersey Qualified Individual Correspondent Residential Mortgage Brokers do not require a bond.

New Jersey Qualified Individual Correspondents do not require a bond.

New Mexico Mortgage Loan Companies require a $50,000 bond for the first year.

After the first year, the bond amount is based on the total dollar amount of mortgage loans originated annually:

$0 - $3,000,000: $50,000 bond

$30,000,000 - $10,000,000: $100,000 bond

More than $10,000,000: $150,000 bond

New Mexico Mortgage Loan Originators require a $50,000 bond for the first year.

After the first year, the bond amount is based on the total dollar amount of mortgage loans originated annually:

$0 - $3,000,000: $50,000 bond

$30,000,000 - $10,000,000: $100,000 bond

More than $10,000,000: $150,000 bond

New York Mortgage Bankers require a $50,000 bond.

New York Mortgage Loan Servicers require a $250,000 bond.

New York Mortgage Brokers require a $10,000 bond.

New York Mortgage Loan Originators must speak to their sponsoring entity to determine whether the company will be submitting an Originating Entity Surety Bond on behalf of the MLO.

MLOs who will not be covered by an Originating Entity surety bond must submit an Individual Mortgage Loan Originator surety bond based on dollar volume of loans originated by the mortgage loan originator:

Less than $1,000,000: $10,000 bond

$1,000,000 - $7,499,999: $15,000 bond

$7,500,000 - $14,999,999: $25,000 bond

$15,000,000 - $29,999,999: $50,000 bond

$30,000,000 - $49,999,999: $75,000 bond

More than $50,000,000: $100,000 bond

North Carolina Mortgage Servicers require a $150,000 bond.

North Carolina Mortgage Loan Originators do not require a bond.

North Carolina Transitional Mortgage Loan Originators do not require a bond.

North Carolina Exclusive Mortgage Brokers require a $75,000 bond.

North Dakota Mortgage Loan Originators do not require a bond.

Ohio Residential Mortgage Lending Act Certification of Registration licensees require a bond that is in an amount equal to 0.50% of the aggregate loan amount of residential mortgage loans originated in the preceding calendar year, totaling no less than $50,000 and no more than $150,000.

Each additional location requires an additional $10,000 bond.

Ohio Mortgage Loan Originators require a bond that is in an amount equal to 0.50% of the aggregate loan amount of residential mortgage loans originated in the preceding calendar year, totaling no less than $50,000 and no more than $150,000.

Oklahoma Mortgage Lenders require a $100,000 bond.

Oklahoma Mortgage Brokers do not require a bond.

Oklahoma Mortgage Loan Originators do not require a bond.

Oregon Mortgage Lenders require a $50,000 bond.

Oregon Mortgage Servicers require a $50,000 bond.

Oregon Mortgage Loan Originators must be covered by a sponsoring company's bond.

Your sponsoring company must include a bond between $50,000 and $200,000.

Pennsylvania Mortgage Brokers require a $100,000 bond.

Pennsylvania Mortgage Lenders require a $300,000 bond.

Pennsylvania Mortgage Servicers require a $500,000 bond.

Pennsylvania Mortgage Loan Originators do not require a bond.

Rhode Island Mortgage Lenders require a $50,000 bond.

The bond amount will increase by $10,000 for each branch location, or $25,000 more if you maintain eight or more branch locations.

Rhode Island Loan Brokers require a $20,000 bond.

The bond amount will increase by $10,000 for each branch location, or $25,000 more if you maintain eight or more branch locations.

Rhode Island Mortgage Loan Originators do not require a bond.

South Carolina Mortgage Lender/Servicers require a bond in an amount based on the dollar amount of mortgage loans:

$0 - $49,999,999: $50,000 bond

$50,000,000 - $249,999,999: $100,000 bond

More than $250,000: $150,000 bond

South Carolina Mortgage Loan Originators do not require a bond.

South Carolina Mortgage Brokers require a $25,000 bond.

South Carolina Mortgage Broker Loan Originators do not require a bond.

South Dakota Mortgage Brokerages require a bond based on the following:

If the company has no prior loan origination volume in South Dakota, the surety bond must be for $25,000.

Otherwise, the bond is based on the previous year's loan origination volume:

$0 - $25,000,000: $25,000 bond

$25,000,000 - $100,000,000: $35,000 bond

More than $100,000,000: $50,000 bond

South Dakota Mortgage Lenders require a bond based on the following:

If the company has no prior loan origination volume in South Dakota, the surety bond must be for $25,000.

Otherwise, the bond is based on the previous year's loan origination volume:

$0 - $25,000,000: $25,000 bond

$25,000,000 - $100,000,000: $35,000 bond

More than $100,000,000: $50,000 bond

South Dakota Mortgage Loan Originators do not require a bond.

Tennessee Mortgage Brokers require a $90,000 bond.

Lender or Servicers require a $200,000 bond.

If you wish to broker AND lend and/or service, you are required to carry a $200,000 bond.

Tennessee Mortgage Loan Originators do not require a bond.

Texas Mortgage Bankers do not require a bond.

Texas Mortgage companies do not require a bond.

Texas Residential Mortgage Loan Servicer Registration licensees require a bond in an amount based on your servicing volume:

Less than $25,000,000: $25,000 bond

More than $25,000,000: $50,000 bond

Texas Mortgage Loan Originators do not require a bond.

Utah Mortgage Entities do not require a bond.

Utah Mortgage Originators do not require a bond.

Vermont Mortgage Broker - Sole Proprietor requires a $25,000 bond.

Vermont Mortgage Brokers require a $25,000 bond.

Vermont Mortgage Loan Originators do not require a bond.

Virginia Mortgage Brokers require a $25,000 bond.

Virginia Mortgage Lenders require a $50,000 bond.

No bond is required if you are already licensed as a Virginia Mortgage Broker.

Virginia Mortgage Loan Originators are only required to get a bond if they are not an employee who is already licensed or exempt from licensing.

If required to get a bond, the bond amount is based off loan volume:

$0 - $5,000,000: $25,000 bond

$5,000,001 - $20,000,000: $50,000 bond

$20,000,001 - $50,000,000: $75,000 bond

$50,000,001 - $100,000,000: $100,000 bond

More than $100,000,000: $150,000 bond

Washington Mortgage Brokers do not require a bond.

Washington Mortgage Loan Originators do not require a bond.

West Virginia Mortgage Brokers require a bond based on previous year's loan volume:

$0 - $3,000,000: $50,000 bond

$3,000,000 - $10,000,000: $75,000 bond

More than $10,000,000: $100,000 bond

If you also act as a table-funded lender: $150,000 bond

West Virginia Mortgage Lenders require a bond based on the previous year's loan volume:

$0 - $3,000,000: $100,000 bond $3,000,000 - $10,000,000: $150,000 bond More than $10,000,000: $250,000 bond

If you act as a servicer with less than $10,000,000 in loans: $200,000 bond

If you act as a servicer with more than $10,000,000 in loans: $250,000 bond

West Virginia Mortgage Loan Originators do not require a bond.

Wisconsin Mortgage Bankers require a $300,000 bond.

Wisconsin Mortgage Brokers require a $120,000 bond.

Wisconsin Mortgage Loan Originators do not require a bond.

Wyoming Mortgage Brokers / Lenders require a $25,000 bond.

Wyoming Mortgage Loan Originators do not require a bond.

District of Columbia Mortgage Broker licensees require a bond based on the dollar volume of loans:

Less than $1,000,000: Minimum $12,500 bond

$1,000,000 - $2,000,000: Minimum $17,500 bond

$2,000,000 - $3,000,000: Minimum $25,000 bond

More than $3,000,000: $50,000 bond

Subject to approval by the Commissioner, if an applicant files four or more original or renewal applications at the same time, the applicant may provide a blanket surety bond for all licensed offices in the amount of $200,000.

District of Columbia Mortgage Dual Authority licensees require a bond based on the dollar volume of loans:

Less than $1,000,000: Minimum $12,500 bond

$1,000,000 - $2,000,000: Minimum $17,500 bond

$2,000,000 - $3,000,000: Minimum $25,000 bond

More than $3,000,000: $50,000 bond

Subject to approval by the Commissioner, if an applicant files four or more original or renewal applications at the same time, the applicant may provide a blanket surety bond for all licensed offices in the amount of $200,000.

District of Columbia Mortgage Lender licensees require a bond based on the dollar volume of loans:

Less than $1,000,000: Minimum $12,500 bond

$1,000,000 - $2,000,000: Minimum $17,500 bond

$2,000,000 - $3,000,000: Minimum $25,000 bond

More than $3,000,000: $50,000 bond

Subject to approval by the Commissioner, if an applicant files four or more original or renewal applications at the same time, the applicant may provide a blanket surety bond for all licensed offices in the amount of $200,000.

District of Columbia Mortgage Loan Originators do not require a bond.

Virgin Islands Mortgage Brokers require a bond based on dollar amount of stated loans:

Less than $1,000,000: $25,000 bond

$1,000,000 - $2,000,000: $30,000 bond

$2,000,000 - $3,000,000: $40,000 bond

More than $3,000,000: $50,000 bond

Subject to approval by the Banking Board, if an applicant files four or more original or renewal applications at the same time, the applicant may provide a blanket surety bond for all licensed offices in the amount of $200,000.

Virgin Islands Mortgage Lenders require a bond based on dollar amount of stated loans:

Less than $1,000,000: $25,000 bond

$1,000,000 - $2,000,000: $30,000 bond

$2,000,000 - $3,000,000: $40,000 bond

More than $3,000,000: $50,000 bond

Subject to approval by the Banking Board, if an applicant files four or more original or renewal applications at the same time, the applicant may provide a blanket surety bond for all licensed offices in the amount of $200,000.

Virgin Islands Mortgage Loan Originators do not require a bond.

Guam Mortgage Servicers require a $50,000 bond plus $50,000 for each licensed branch location, up to $100,000.

Guam Residential Mortgage Lenders and Servicers require a $50,000 bond plus $50,000 for each licensed branch location, up to $100,000.

Guam Residential Mortgage Lenders require a $50,000 bond plus $50,000 for each licensed branch location, up to $100,000.

Guam Mortgage Loan Originators require a minimum $50,000 bond, up to $100,000 for aggregate loans over $50,000,000.

Puerto Rico Mortgage Brokers require a $100,000 bond plus $5,000 for each additional office.

Puerto Rico Mortgage Lender/Servicers require a $500,000 bond plus $10,000 for each additional office.

Puerto Rico Mortgage Loan Originators require a $5,000 bond.