Georgia Mortgage Broker Bond

1. Start Your Application

Fill out the online application form

2. Receive Your Free Quote

You will be sent your quote in minutes

3. Buy Your Surety Bond

We offer secure payment options

START YOUR APPLICATION

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You can get your Georgia mortgage broker bond online
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Outstanding bonding prices
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Bad credit program

How Much Does a Georgia Mortgage Broker Bond Cost?

A Georgia mortgage broker bond can cost as low as $1,500, depending on factors like your credit score. Georgia requires all mortgage brokers to carry a $150,000 surety bond. Fortunately, you only have to pay a fraction of that amount, which can be as little as 1% to 3% of the total.

Mortgage brokers who deal with warehouse lines are considered lenders, meaning they must secure a $250,000 bond. Here’s a table outlining the bond premiums and how they’re affected by your credit score.

Surety Bond Cost Based on Credit Score
Surety Bond Name	Surety Bond Amount	Over 700	Between 600 - 699	Below 599
Georgia Mortgage Broker Bond	$150,000	$1,500 - $4,500	$4,500 - $7,500	$7,500 - $15,000
Georgia Mortgage Lender Bond (Brokers using Warehouse Lines)	$250,000	$2,500 - $7,500	$7,500 - $12,500	$12,500 - $25,000

How to Get a Georgia Mortgage Broker Bond

1. Apply for Your Bond

Lance Surety Bonds makes it easy to apply for a mortgage broker bond with our online application form. We just need some basic details about yourself and your business to get started.

We recently helped a mortgage broker in Cumming get bonded. He was frustrated by the complexity of the licensing process, and we were able to help him get the correct bond so he could start his own brokerage firm.

2. Get a Quote on Your Bond

In most cases, you can expect to receive your quote quickly. However, due to the complexities of the bonding process, you might have to wait up to 24 or 48 hours for your quote to come in. Regardless of the circumstances, we always provide the best quote possible.

3. Pay Your Bond Premium

Once you’ve paid the premium, we’ll email you your bond. Then, you can show proof of bonding when submitting your paperwork for a mortgage broker license.

Mortgage Broker Bond Requirements in Georgia

In Georgia, to obtain a mortgage broker license, you must submit a $150,000 surety bond to the Georgia Department of Banking and Finance. The bond for a mortgage lender must be in the principal sum of $250,000. You can complete all Georgia Mortgage Broker License applications online via the NMLS. Once you obtain a Mortgage Broker Bond or a Mortgage Lender Bond, it must be filed with the NMLS.

Renewal applications for mortgage brokers and mortgage lenders in Georgia, must be submitted until December 31st each year. The Department requires applicants to maintain an active surety bond with the NMLS to qualify for license renewal.

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Robin Kix

Robin Kix is our Renewal Department Manager. During her 10 years in the surety industry, she helped thousands of businesses throughout the nation remain compliant at the federal, state and local level. She has significant experience supporting commercial bond lines, particularly in the automobile, transportation and construction industries. Robin and her team work together to create a positive customer service experience at the time of every policy renewal, whether that be finding the best pricing or offering additional assistance.

About Us

Lance Surety Bond Associates, Inc. is a Pennsylvania-based surety bond agency that offers bonding at competitive rates in all 50 states. Established in 2010, our company has grown to become one of the top online bond producers in the country. Working exclusively with A-rated and T-listed bonding companies gives us the confidence to offer a 100% money-back guarantee. read more