Michigan Mortgage Licensing Requirements
License Type: Michigan First Mortgage Broker License
Physical Branch requirement
Not Required
Qualifying Individual Required
Yes
Minimum Company Net Worth
$25,000 Required
Company Financial Statements
P & L and Balance Sheet
Surety Bond Requirement
$25K if pre-closing funds
Average Timeframe
45 Days
License Type: Michigan 1st Broker or Lender License
Physical Branch requirement
No
Qualifying Individual Required
Yes
Minimum Company Net Worth
$25,000 Required
Company Financial Statements
P & L and Balance Sheet
Surety Bond Requirement
$25,000
Average Timeframe
45 Days