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Georgia Mortgage Lender Bond

  • Your Georgia mortgage lender bond quote is a click away
  • Competitive bonding options
  • Bad credit? Not a problem

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What Is a Georgia Mortgage Lender Bond?

Mortgage lenders in Georgia need to undergo a licensing process, similarly to their colleagues across the U.S. Obtaining a mortgage lender bond is one of the typical requirements you need to satisfy, so that you’re allowed to operate in the state.

The bond is a safety instrument that protects the state and its citizens. It aims to guarantee your legal compliance by ensuring a reimbursement option for harmed parties via a bond claim.

Similarly to other Georgia surety bonds, your mortgage lender bond is a contractual agreement between three entities. Your mortgage lending business is the principal. The Department Banking and Finance that requires the bond is the obligee. The surety is the third party, which is the bond provider.

Frequently Asked Questions

When are you required to get this bond?

In case you want to start a mortgage lending company in Georgia, you need to get a state mortgage lender license from the Department of Banking and Finances. As a part of this process, you need to present a $250,000 bond.

The licensing applications are submitted via the Nationwide Multistate Licensing System & Registry (NMLS). You also have to file your bond via its electronic surety bonds (ESB) option. The license and bond have to be renewed on an annual basis.

Your mortgage lender bond ensures that you will follow all applicable Georgia laws. Most notably, it guarantees you will comply with Title 7, Chapter 1, Article 13 of the Official Code of Georgia Annotated (O.C.G.A.).

How much does the bonding cost?

Georgia House Bill 143 increased the bond amount for mortgage lenders from $150,000 to $250,000 in the middle of 2017.

Your bond price is based on the bond amount that you have to obtain. This is referred the bond premium. It is only a fraction of the bond amount, often between 1% and 3% for applicants with solid finances.

How is your surety bond cost determined exactly? Your surety needs to take a close look at your personal and business finances. It considers factors such as your credit score, any assets and liquidity you can show, as well as your business finances and management. The stronger your profile is, the lower your bond premium can get.

Surety Bond Cost Based on Credit Score
Surety bond name Surety bond amount Above 700 Between 650-699 Between 600-649 Below 599
Georgia mortgage lender bond $250,000 $1,250-$3,125 $1,875-$3,750 $5,000-$12,500 $12,500-$25,000

What if I have bad credit?

Even if your finances are problematic, you can still get the bond you need with us. At Lance Surety Bonds, we run our Bad Credit Surety Bonds program for applicants with credit score, tax liens, bankruptcies, and civil judgements.

The bonding rates that you can expect are in the range of 5%-10%. They are higher because they compensate for the increased risk. As we work with a number of A-rated, T-listed surety companies, you can still get an outstanding bond price with us.

How do I apply to get bonded?

Do you want to learn the intricacies of the bonding process? You can consult our detailed How to Get Bonded page for a full overview.

Have questions or need assistance with your bond application? Don’t hesitate to call us at (877) 514-5146, and our bonding experts will help you out.

What if I get a bond claim?

Bond claims are a serious financial threat to your business. As bonds protect your customers and the state, a harmed party can file a claim against you. They can seek a reimbursement up to the penal sum of your bond, which is $250,000.

At first, your surety may step in to cover the compensation. However, you are fully liable for all incurred costs. That’s why it is a wise idea to avoid situations that can lead to claims, such as non-compliance with state laws and engaging in fraudulent activities as a lender.

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What Our Clients Have To Say?




Kimberlee Ables
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!
Andrew Poincot
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!
Margie Martinez
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!

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