New Jersey vs South Dakota for MLO Licensing

Total Fees

$346.25

$341.25

Pre-Licensing

20 hrs

Timeline

8-16 wks

6-12 wks

Side-by-Side Comparison

Category	New Jersey	South Dakota
Total Fees	$346.25	$341.25 ✓
Pre-Licensing Hours	20 hrs	20 hrs
Processing Time	8-16 weeks	6-12 weeks ✓
Renewal Cycle	N/A	N/A
Renewal Fee	$150	$150
CE Hours	8 hrs	8 hrs
Reciprocity	None	None

Key Differences

→

Cost

South Dakota is $5 cheaper for total licensing fees.

Winner: South Dakota

→

Processing Speed

South Dakota processes applications in 6-12 weeks.

Winner: South Dakota

Category Winners

Lower Cost

South Dakota $341.25

vs New Jersey ($346.25)

Fewer Hours

New Jersey 20 hrs

vs South Dakota (20 hrs)

Faster Processing

South Dakota 6-12 wks

vs New Jersey (8-16 wks)

New Jersey

New Jersey Department of Banking and Insurance

Official Website →

Full New Jersey MLO requirements →

South Dakota

South Dakota Division of Banking

Official Website →

Full South Dakota MLO requirements →

Compare More States

All MLO Comparisons Interactive Tool