Michigan vs New Mexico for MLO Licensing
Total Fees
$471.25
MI
vs
$341.25
NM
Pre-Licensing
20 hrs
MI
vs
20 hrs
NM
Timeline
4-8 wks
MI
vs
6-12 wks
NM
Side-by-Side Comparison
| Category | Michigan | New Mexico |
|---|---|---|
| Total Fees | $471.25 | $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 | $100 ✓ | $150 |
| CE Hours | 8 hrs | 8 hrs |
| Reciprocity | None | None |
Key Differences
→
Cost
New Mexico is $130 cheaper for total licensing fees.
Winner: New Mexico
→
Processing Speed
Michigan processes applications in 4-8 weeks.
Winner: Michigan
Category Winners
Lower Cost
New Mexico $341.25
vs Michigan ($471.25)
Fewer Hours
Michigan 20 hrs
vs New Mexico (20 hrs)
Faster Processing
Michigan 4-8 wks
vs New Mexico (6-12 wks)
New Mexico
New Mexico Regulation and Licensing Department - Financial Institutions Division
Official Website →Compare More States
Compare Michigan MLO License
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Compare New Mexico MLO License
NM vs AL NM vs AK NM vs AZ NM vs AR NM vs CA NM vs CO NM vs CT NM vs DE NM vs FL NM vs GA NM vs HI NM vs ID NM vs IL NM vs IN NM vs IA NM vs KS NM vs KY NM vs LA NM vs ME NM vs MD NM vs MA NM vs MN NM vs MS NM vs MO NM vs MT NM vs NE NM vs NV NM vs NH NM vs NJ NM vs NY NM vs NC NM vs ND NM vs OH NM vs OK NM vs OR NM vs PA NM vs RI NM vs SC NM vs SD NM vs TN NM vs TX NM vs UT NM vs VT NM vs VA NM vs WA NM vs WV NM vs WI NM vs WY