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How Much Does an Alaska Mortgage Broker/Lender Bond Cost?
An Alaska mortgage broker/lender license bond costs between $750 and $7,500. This cost is based on Alaska’s bond requirement of $75,000. Rather than pay the full bond amount required by the state, however, you can purchase your mortgage broker or lender license bond at a premium.
As an authorized Alaska surety company, we provide bonds at rates from 1% to 10% of the bond amount. When calculating the rate that you qualify for, we take into consideration your credit scores, professional credentials, and fixed and liquid assets.
Bonds are available for applicants with most credit scores. With a 700 or higher credit score, the premium rate will fall between 1% and 3%. With a 600 to 699 credit score, the rate will range from 3% to 5%. A lower credit score qualifies for a 5% to 10% premium rate.
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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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Alaska Mortgage Broker/Lender Bond |
$75,000 |
$750 - $2,250 |
$2,250 - $3,750 |
$3,750 - $7,500 |
How to Get an Alaska Mortgage License Bond
1. Apply for Your Bond Online
Our customers take advantage of our fast, streamlined application process. It only takes a few minutes to fill out the online application and learn about your bond premium rate. Bonds are available to suit most needs. In fact, over 99% of our applicants get bonded with us.
Sue was eager to open a mortgage broker office in Anchorage, but she needed to get licensed and bonded first. She submitted her bond application online and had a quote in front of her within a few minutes. With our fast process, Sue finalized her Alaska broker license application quickly.
2. Review Your Bond Quote
We provide instant bond quotes to our valued customers in Alaska, so you will not wait long to learn about the cost of your mortgage broker or lender bond. If an application is complicated, we may require up to 48 hours to review the application and deliver a quote.
3. Make Your Premium Payment
Our bond experts are available to answer any questions you have about your quote. When you are ready to buy your mortgage broker or lender bond, simply pay the premium online. Without delay, we will then process the bond and email it to you.
For assistance as you set up your new surety bond, please contact us or call us at (877) 514-5146.
Mortgage Broker/Lender Bond Requirements in Alaska
The Department of Commerce, Community, and Economic Development is the governing authority for mortgage broker or lender license bonds. The requirements are established under Chapter 06.60 Alaska Secure and Fair Enforcement for Mortgage Licensing Act of 2010 and Alaska Administrative Code: Title 3, Chapter 14.
These licenses apply to those who offer residential loans and who stand as an intermediary between the lender and applicant. The broker and lender license requires a $75,000 surety bond. Applications for new licenses and renewals are accepted by the National Multistate Licensing System, or NMLS.
We can help you learn how to get a mortgage broker license and set up your new bond. For questions about licensing, you can also reach the Alaska Division of Banking and Securities at (907) 269-8140.
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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!
