How long does it take?

Typically 90 to 180 days from entity formation to first funded loan, depending on state processing times and how quickly wholesale approvals come through.

How much money should I have in reserves?

Beyond the bond and licensing fees, most industry advisors recommend 6 months of operating expenses in reserve. Your first loans may take 30 to 60 days to close and pay out.

Do I have to keep originating as the owner?

No, but many small brokerage owners are also the top-producing LO. Structure comp carefully to avoid dual compensation violations under Regulation Z §1026.36.

How to Start a Mortgage Brokerage (Requirements & Cost)

Learn what it takes to open a mortgage brokerage — NMLS company license, state-by-state requirements, surety bonds, minimum net worth, wholesale approvals, and startup timeline.