Illinois vs Minnesota for MLO Licensing

Total Fees

$391.25

IL

vs

$281.25

MN

Pre-Licensing

20 hrs

IL

vs

20 hrs

MN

Timeline

4-8 wks

IL

vs

4-8 wks

MN

Side-by-Side Comparison

Category	Illinois	Minnesota
Total Fees	$391.25	$281.25 ✓
Pre-Licensing Hours	20 hrs	20 hrs
Processing Time	4-8 weeks	4-8 weeks
Renewal Cycle	N/A	N/A
Renewal Fee	$200	$50 ✓
CE Hours	8 hrs	8 hrs
Reciprocity	None	None

Key Differences

→

Cost

Minnesota is $110 cheaper for total licensing fees.

Winner: Minnesota

Category Winners

Lower Cost

Minnesota $281.25

vs Illinois ($391.25)

Fewer Hours

Illinois 20 hrs

vs Minnesota (20 hrs)

Faster Processing

Illinois 4-8 wks

vs Minnesota (4-8 wks)

Illinois

Illinois Department of Financial and Professional Regulation

Official Website →

Full Illinois MLO requirements →

Minnesota

Minnesota Department of Commerce

Official Website →

Full Minnesota MLO requirements →

Compare More States

All MLO Comparisons Interactive Tool

Compare Illinois MLO License

Compare Minnesota MLO License