Minnesota vs Virginia for MLO Licensing

Total Fees

$281.25

$341.25

Pre-Licensing

20 hrs

Timeline

4-8 wks

6-14 wks

Side-by-Side Comparison

Category	Minnesota	Virginia
Total Fees	$281.25 ✓	$341.25
Pre-Licensing Hours	20 hrs	20 hrs
Processing Time	4-8 weeks ✓	6-14 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 Virginia ($341.25)

Fewer Hours

Minnesota 20 hrs

vs Virginia (20 hrs)

Faster Processing

Minnesota 4-8 wks

vs Virginia (6-14 wks)

Minnesota

Minnesota Department of Commerce

Official Website →

Full Minnesota MLO requirements →

Virginia

Virginia Bureau of Financial Institutions

Official Website →

Full Virginia MLO requirements →

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