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How Much Does a New Hampshire Mortgage License Bond Cost?
The cost of a New Hampshire mortgage broker bond is between $500 and $5,000. This is based on the state’s requirement of a $50,000 bond. The cost of a mortgage banker or servicer bond is between $1,000 and $10,000. The required bond amount is $100,000.
Your mortgage broker, banker or servicer bond is available through an authorized New Hampshire surety company. The premium cost is 1% to 10% of the applicable bond amount. To determine the specific rate, factors like your professional resume, financial strength and credit scores are reviewed.
We bond over 99% of our applicants. A credit score of at least 700 qualifies for a premium rate of 1% to 3%. A 600 to 699 credit score qualifies for a 3% to 5% rate. The premium rate for a credit score below 600 falls 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 |
|
New Hampshire Mortgage Broker Bond |
$50,000 |
$500 - $1,500 |
$1,500 - $2,500 |
$2,500 - $5,000 |
|
New Hampshire Mortgage Servicer Bond |
$100,000 |
$1,000 - $3,000 |
$3,000 - $5,000 |
$5,000 - $10,000 |
|
New Hampshire Mortgage Banker Bond |
$100,000 |
$1,000 - $3,000 |
$3,000 - $5,000 |
$5,000 - $10,000 |
How to Get a New Hampshire Mortgage License Bond
1. Apply for Your Bond Online
Applying for your mortgage broker, banker or servicer bond is a fast, simple process. It only takes a couple of minutes to fill out and submit the online application. Our friendly experts have been serving New Hampshire’s bond needs for a decade, and we are available to answer your questions.
When Luke needed a mortgage broker bond recently, he contacted us for a quote. After applying online, he got an instant quote. Soon after paying his premium online, Luke got his bond in his inbox. With his bond, he quickly completed his broker application and is now licensed in New Hampshire.
2. Review Your Bond Quote
We offer instant quotes to our bond applicants, so you will not wait long for a response from us. If an application is more complex, we will review it in detail and respond within 48 hours.
3. Make Your Premium Payment
Making your bond premium payment online is the last step. Once we receive your payment, we will quickly prepare the bond and send it to your email. A mailed bond can also be sent upon request.
We take pride in providing a simplified bonding experience and excellent customer service. If you need help with your bond application or have questions, contact us or call us at (877) 514-5146.
Mortgage Broker, Banker and Servicer Bond Requirements in New Hampshire
Under Title XXXV, Chapter 397, New Hampshire Banking Department requires mortgage brokers to secure a $50,000 surety bond to meet bonding requirements. Mortgage bankers and servicers must also be bonded, with a $100,000 surety bond required for each. The National Multistate Licensing System, or NMLS, processes license applications and renewals.
Your bond premium payment is due annually to maintain your mortgage broker, banker or servicer license. We will contact you prior to the renewal date each year with instructions to maintain your bond.
If you have questions about how to get a mortgage broker license, contact the New Hampshire Banking Department at (603) 271-3561.
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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!
