Broker Requirements:

(1) $300 non-refundable application fee

(2) $1,400 licensing fee

(3) $100,000 Surety Bond

(4) Audited financials, showing net worth of $50,000

(5) Fingerprint cards

(6) Written exam required after the acceptance of fully completed application

(7) Physical location required within state. A residence is NOT acceptable; however, a waiver rquest may be submitted with proof that the business area is separate from personal area with a separate business entrance. Floor plans and pictures are required.

NOTE: Separate licenses are required for 1st and 2nd mortgages. Out of state Mortgage Brokers must be licensed in New Jersey to conduct business within the state.

Loan Officer Requirements:

Contact Information:

New Jersey Department of Banking and Insurance

PO Box 473

Trenton, NJ 08625

Phone: 609.292.5340

Fax: 609.633.0822

E-mail: This e-mail address is being protected from spambots. You need JavaScript enabled to view it

Website: http://www.state.nj.us/dobi/banklicensing/licensedlender.html

Map of New Jersey Department of Banking and Insurance: