New York vs Virginia for MLO Licensing

Total Fees

$455.5

$341.25

Pre-Licensing

20 hrs

Timeline

8-16 wks

6-14 wks

Side-by-Side Comparison

Category	New York	Virginia
Total Fees	$455.5	$341.25 ✓
Pre-Licensing Hours	20 hrs	20 hrs
Processing Time	8-16 weeks	6-14 weeks ✓
Renewal Cycle	N/A	N/A
Renewal Fee	$254	$150 ✓
CE Hours	8 hrs	8 hrs
Reciprocity	None	None

Key Differences

→

Cost

Virginia is $114.25 cheaper for total licensing fees.

Winner: Virginia

→

Processing Speed

Virginia processes applications in 6-14 weeks.

Winner: Virginia

Category Winners

Lower Cost

Virginia $341.25

vs New York ($455.5)

Fewer Hours

New York 20 hrs

vs Virginia (20 hrs)

Faster Processing

Virginia 6-14 wks

vs New York (8-16 wks)

New York

New York Department of Financial Services

Official Website →

Full New York MLO requirements →

Virginia

Virginia Bureau of Financial Institutions

Official Website →

Full Virginia MLO requirements →

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