Ohio Mortgage Licensing


Mortgage Banker or Broker

Mortgage Broker License

Physical In-State Office Required: Yes, see Section C and G. The office must maintain office hours from nine a.m. to five p.m. on the second Thursday of the following months: February, April, June, August, October, and December meaning you would need an OH Licensed LO at the OH In-State Office for those 6 days each year. If the Ohio location to be registered is a residence, provide evidence that business may be conducted at that location. Evidence may include a copy of the deed, zoning permit or written opinion from the county, township, or municipal corporation where the residence is located certifying that the use of the residence to transact business as a mortgage broker is not prohibited.
Qualifying Individual: Yes, requires completion of requirements to obtain OH LO License, 3 years of mortgage experience (verified by w-2s/1099s), and passing OH Operations Manager Test.
Minimum Net Worth: $ None
Surety Bond: 0.5% of Nationwide Loan Volume for previous calendar year plus an additional $10,000 for each branch location up to $150,000 maximum and down to $50,000 minimum.
Experience/Education: 24 hours of education for principal officer and loan officers.
Comments: If the Operations Manager (OM) leaves the company once you are licensed, Ohio gives 10 days to notify them that the current OM has left. They then give you 30 days to designate the new OM. At that time, they will require some documentation on the new OM to authorize that person to take the OM Test. Then once they authorize that new person to take the OM Test, that new person has 90 days to pass the OM Test in order for the company’s license to remain active.

License Cost Breakdown – Estimated fees not including Integrity Mortgage Licensing Service Fee:
$125 – Foreign Entity Fee
$125 – Registered Agent Fee
$500 to $1,500 – $60k to $150k Ohio Surety Bond
$600 – Company License Fee
$520 – Ohio Branch License Fee (If main office is located outside of Ohio)


Regulated by:

Ohio Department of Commerce
Division of Financial Institutions

77 South High Street, 21st Floor
Columbus, OH 43215-6120
Phone: 614-728-8400
Sheila Zoldak | sheila.zoldak@com.state.oh.us | 614-644-9577
Ken Seaman | Ken.Seaman@com.state.oh.us | 614-644-9573