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Massachusetts vs New York for MLO Licensing

Total Fees
$691.25
MA
vs
$455.5
NY
Pre-Licensing
23 hrs
MA
vs
20 hrs
NY
Timeline
8-16 wks
MA
vs
8-16 wks
NY

Side-by-Side Comparison

Category Massachusetts New York
Total Fees $691.25 $455.5
Pre-Licensing Hours 23 hrs 20 hrs
Processing Time 8-16 weeks 8-16 weeks
Renewal Cycle N/A N/A
Renewal Fee $500 $254
CE Hours 8 hrs 8 hrs
Reciprocity None None

Key Differences

Cost

New York is $235.75 cheaper for total licensing fees.

Winner: New York

Education Hours

New York requires only 20 pre-licensing hours.

Winner: New York

Category Winners

Lower Cost
New York $455.5
vs Massachusetts ($691.25)
Fewer Hours
New York 20 hrs
vs Massachusetts (23 hrs)
Faster Processing
Massachusetts 8-16 wks
vs New York (8-16 wks)

Massachusetts

Massachusetts Division of Banks

Official Website →

New York

New York Department of Financial Services

Official Website →

Compare More States

Compare Massachusetts MLO License

Compare New York MLO License