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Rhode Island vs South Dakota for MLO Licensing

Total Fees
$791.25
RI
vs
$341.25
SD
Pre-Licensing
20 hrs
RI
vs
20 hrs
SD
Timeline
4-8 wks
RI
vs
6-12 wks
SD

Side-by-Side Comparison

Category Rhode Island South Dakota
Total Fees $791.25 $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 $600 $150
CE Hours 8 hrs 8 hrs
Reciprocity None None

Key Differences

Cost

South Dakota is $450 cheaper for total licensing fees.

Winner: South Dakota

Processing Speed

Rhode Island processes applications in 4-8 weeks.

Winner: Rhode Island

Category Winners

Lower Cost
South Dakota $341.25
vs Rhode Island ($791.25)
Fewer Hours
Rhode Island 20 hrs
vs South Dakota (20 hrs)
Faster Processing
Rhode Island 4-8 wks
vs South Dakota (6-12 wks)

Rhode Island

Rhode Island Department of Business Regulation

Official Website →

South Dakota

South Dakota Division of Banking

Official Website →

Compare More States

Compare Rhode Island MLO License

Compare South Dakota MLO License