illinois mortgage loan broker license

Any person or company who negotiates, places, assists in placing, finds, or offers to do any of the above on residential property in the state of Illinois needs an Illinois Mortgage Broker License.


You are not legally authorized to engage in mortgage brokering or mortgage lending activities in the state of Illinois until you have secured your mortgage license. This is due to the SAFE Mortgage Licensing Act statutes. 

Illinois Mortgage Licenses are issued by the Nationwide Mortgage Licensing System.

What Do I Need to get my Mortgage Broker License?

There are many requirements that you or your company will need to meet to secure your Illinois Mortgage Broker License. The main criteria are secure a mortgage bond and have the proper experience.

  • Bond: in the amount of $25,000
  • 3 years experience in field or equivalent in education
  • Net worth minimum of $50,000
  • Background check

If you do not have the 3 years experience, you might be able to take a pre-licensure course to satisfy the requirements. 

How to Become an Illinois Mortgage Loan Broker

All application and license information can be found on the Illinois New Mortgage License Application page.

Step #1: Obtain proper registration with Illinois Secretary of State

Obtain a Certificate of Authority and Articles of Incorporation, Articles of Organization, or Partnership Agreement for your company.

Step #2: Complete Illinois Mortgage License Application

Your application will require items that need to be submitted in one of the three following ways:

  1. Information typed in NMLS – For help with the NMLS application, see the Quick Guide for submitting a complete Company Form filing through NMLS.
  2. PDF documents uploaded in NMLS – For help with document uploads, see the Quick Guide for document upload in NMLS.
  3. PDF documents emailed to IDFPR.

Step #3: Purchase $25,000 Illinois Mortgage Bond

A mortgage broker bond is a type of mortgage bond required by a state agency for licensure pertaining to mortgage activities.

The price you pay for your bond is based on your personal/company credit score and financials. 

The best way to see what you’d pay for a bond is to get a free quote.

Free Illinois Mortgage Bond Quotes

Mortgage bonds protect your clients in case you provide poor advice, make an incorrect or unethical decision, or make in error in your client’s information.

If your client suffers financial hardship because of your error, they can make a claim against your mortgage bond.

You can learn more about the bond claim process here.

You can learn how to avoid mortgage bond claims here.

Step #4: Pay fees

Fees total $2,800. This includes the NMLS processing fee.

Fees are non-refundable.

Step #5: Submit application electronically through the NMLS

The regulator will review the filing and all required documents and communicate with you through NMLS.

For questions on how to get your mortgage license, contact Mortgage Banking Regulation licensing staff by e-mail to for additional assistance.

For system questions, call the NMLS Call Center at 855-NMLS-123 or 855-665-7123.

Related Links:

NMLS – Illinois Residential Mortgage License Checklist

What is a Mortgage Bond?

How to Avoid Mortgage Bond Claims

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