Illinois vs South Dakota for MLO Licensing

Total Fees

$391.25

$341.25

Pre-Licensing

20 hrs

Timeline

4-8 wks

6-12 wks

Side-by-Side Comparison

Category	Illinois	South Dakota
Total Fees	$391.25	$341.25 ✓
Pre-Licensing Hours	20 hrs	20 hrs
Processing Time	4-8 weeks ✓	6-12 weeks
Renewal Cycle	N/A	N/A
Renewal Fee	$200	$150 ✓
CE Hours	8 hrs	8 hrs
Reciprocity	None	None

Key Differences

→

Cost

South Dakota is $50 cheaper for total licensing fees.

Winner: South Dakota

→

Processing Speed

Illinois processes applications in 4-8 weeks.

Winner: Illinois

Category Winners

Lower Cost

South Dakota $341.25

vs Illinois ($391.25)

Fewer Hours

Illinois 20 hrs

vs South Dakota (20 hrs)

Faster Processing

Illinois 4-8 wks

vs South Dakota (6-12 wks)

Illinois

Illinois Department of Financial and Professional Regulation

Official Website →

Full Illinois MLO requirements →

South Dakota

South Dakota Division of Banking

Official Website →

Full South Dakota MLO requirements →

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