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Massachusetts vs Minnesota for MLO Licensing

Total Fees
$691.25
MA
vs
$281.25
MN
Pre-Licensing
23 hrs
MA
vs
20 hrs
MN
Timeline
8-16 wks
MA
vs
4-8 wks
MN

Side-by-Side Comparison

Category Massachusetts Minnesota
Total Fees $691.25 $281.25
Pre-Licensing Hours 23 hrs 20 hrs
Processing Time 8-16 weeks 4-8 weeks
Renewal Cycle N/A N/A
Renewal Fee $500 $50
CE Hours 8 hrs 8 hrs
Reciprocity None None

Key Differences

Cost

Minnesota is $410 cheaper for total licensing fees.

Winner: Minnesota

Education Hours

Minnesota requires only 20 pre-licensing hours.

Winner: Minnesota

Processing Speed

Minnesota processes applications in 4-8 weeks.

Winner: Minnesota

Category Winners

Lower Cost
Minnesota $281.25
vs Massachusetts ($691.25)
Fewer Hours
Minnesota 20 hrs
vs Massachusetts (23 hrs)
Faster Processing
Minnesota 4-8 wks
vs Massachusetts (8-16 wks)

Massachusetts

Massachusetts Division of Banks

Official Website →

Minnesota

Minnesota Department of Commerce

Official Website →

Compare More States

Compare Massachusetts MLO License

Compare Minnesota MLO License