Idaho Mortgage Broker & Lender Bond
Complete Guide to Bonding for Mortgage Brokers in Idaho
1. Start Your Application
2. Receive Your Free Quote
3. Buy Your Surety Bond
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Fast Approvals - Image
100% Secure Online Application - Image
Lowest Rates for Mortgage Brokers - Image
Exclusive Bad Credit MBB Programs
How Much Does an Idaho Mortgage Broker & Lender Bond Cost?
An Idaho mortgage broker and lender bond costs between $250 and $2,500. The Idaho surety bond requirement of $25,000 is for one business location. Each additional licensed branch location increases the required bond amount by $10,000.
You can purchase a mortgage broker and lender bond from an authorized Idaho surety company. By doing so, you can pay the bond premium rather than the full bond amount.
The premium cost ranges from 1% to 10% of the required bond amount. The rate depends on the applicant’s financial assets, credit score and professional experience.
A bond premium rate of 1% to 3% is available for those with a credit score of 700 or higher. The rate for a 600 to 699 credit score is 3% to 5%. With a credit score of 599 or below, the premium rate is between 5% and 10%.
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Surety Bond Cost Based on Credit Score |
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Surety Bond Name |
Surety Bond Amount |
Over 700 |
Between 600 - 699 |
Below 599 |
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Idaho Mortgage Broker and Lender Bond |
$25,000 |
$250 - $750 |
$750 - $1,250 |
$1,250 - $2,500 |
How to Get an Idaho Mortgage Broker & Lender Bond
1. Submit Your Application
You can purchase an Idaho mortgage broker and lender bond by walking through a few simple steps. First, fill out the online application. We provided competitive bond rates for applicants with a wide range of credit scores. More than 99% of our applicants qualify.
Sophia was unsure about her ability to get a mortgage broker and lender bond because she had a low credit score. Recently, she applied for a bond online with us, and we quickly gave her a quote. She paid her surety bond premium online and had the bond she needed to open an office in Idaho.
2. Get a Bond Quote
Most of our applicants benefit from a no-obligation, free quote instantly. If your application is more complex, we can deliver a bond quote within 48 hours.
Our surety bond company has been helping customers for more than 10 years. We proudly provide a straightforward bond application process and are available to answer your questions.
3. Purchase Your Bond
After reviewing your Idaho mortgage broker and lender bond quote, the final step is to pay the premium. We accept online premium payments for your convenience. After making the payment, we will email the bond to you. We can also mail the bond upon request.
Buying your mortgage broker and lender bond in Idaho from our surety company is a quick, hassle-free process. If you run into challenges or have questions, we are available to help. Contact us or call us at (877) 514-5146.
Apply for a free no-obligations quote on your surety bond!
Mortgage Broker & Lender Bond Requirements in Idaho
The Department of Finance maintains mortgage broker and lender licensing requirements in Idaho. New license applications and renewals are processed by the National Multistate Licensing System, or NMLS.
The surety bond requirement of $25,000 is for the operation of one business location in Idaho. An additional $10,000 is required for each additional business location. Mortgage brokers and lenders must hold a bond at all times to maintain their license.
The NMLS accepts electronic surety bonds. For questions about how to get a mortgage broker and lender license, contact the Idaho Department of Finance at (208) 332-8000.
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What Our Clients Have To Say?
Quick response times and turn around for issuing bonds. Great customer service and very knowledgeable. We have used Lance Surety multiple times and have never been disappointed. Highly recommend them and Collette!
Long story short, these guys cut through the B.S. and get the job done. Responsiveness, excellent! Communication, excellent! Respect for their industry partners, excellent! John, Collette, Ryan, you're all-stars! Thank you!
We decided for Lance Surety Bond's quote for 2 reasons; Price and Customer Service. Our Representative Ryan was just SUPERB!! [...] I highly recommend Lance Surety Bond for all your Bonding needs! I'll definitely come back for all of mine. :-) Thanks Ryan!
Quick response times and turn around for issuing bonds. Great customer service and very knowledgeable. We have used Lance Surety multiple times and have never been disappointed. Highly recommend them and Collette!
Long story short, these guys cut through the B.S. and get the job done. Responsiveness, excellent! Communication, excellent! Respect for their industry partners, excellent! John, Collette, Ryan, you're all-stars! Thank you!
We decided for Lance Surety Bond's quote for 2 reasons; Price and Customer Service. Our Representative Ryan was just SUPERB!! [...] I highly recommend Lance Surety Bond for all your Bonding needs! I'll definitely come back for all of mine. :-) Thanks Ryan!
