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Massachusetts vs Rhode Island for MLO Licensing

Total Fees
$691.25
MA
vs
$791.25
RI
Pre-Licensing
23 hrs
MA
vs
20 hrs
RI
Timeline
8-16 wks
MA
vs
4-8 wks
RI

Side-by-Side Comparison

Category Massachusetts Rhode Island
Total Fees $691.25 $791.25
Pre-Licensing Hours 23 hrs 20 hrs
Processing Time 8-16 weeks 4-8 weeks
Renewal Cycle N/A N/A
Renewal Fee $500 $600
CE Hours 8 hrs 8 hrs
Reciprocity None None

Key Differences

Cost

Massachusetts is $100 cheaper for total licensing fees.

Winner: Massachusetts

Education Hours

Rhode Island requires only 20 pre-licensing hours.

Winner: Rhode Island

Processing Speed

Rhode Island processes applications in 4-8 weeks.

Winner: Rhode Island

Category Winners

Lower Cost
Massachusetts $691.25
vs Rhode Island ($791.25)
Fewer Hours
Rhode Island 20 hrs
vs Massachusetts (23 hrs)
Faster Processing
Rhode Island 4-8 wks
vs Massachusetts (8-16 wks)

Massachusetts

Massachusetts Division of Banks

Official Website →

Rhode Island

Rhode Island Department of Business Regulation

Official Website →

Compare More States

Compare Massachusetts MLO License

Compare Rhode Island MLO License