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Minnesota vs South Dakota for MLO Licensing

Total Fees
$281.25
MN
vs
$341.25
SD
Pre-Licensing
20 hrs
MN
vs
20 hrs
SD
Timeline
4-8 wks
MN
vs
6-12 wks
SD

Side-by-Side Comparison

Category Minnesota South Dakota
Total Fees $281.25 $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 $50 $150
CE Hours 8 hrs 8 hrs
Reciprocity None None

Key Differences

Cost

Minnesota is $60 cheaper for total licensing fees.

Winner: Minnesota

Processing Speed

Minnesota processes applications in 4-8 weeks.

Winner: Minnesota

Category Winners

Lower Cost
Minnesota $281.25
vs South Dakota ($341.25)
Fewer Hours
Minnesota 20 hrs
vs South Dakota (20 hrs)
Faster Processing
Minnesota 4-8 wks
vs South Dakota (6-12 wks)

Minnesota

Minnesota Department of Commerce

Official Website →

South Dakota

South Dakota Division of Banking

Official Website →

Compare More States

Compare Minnesota MLO License

Compare South Dakota MLO License