Texas Mortgage Broker Requirements

American Mortgage Licensing is your one stop shop to receive a Texas Mortgage Broker License. We fully complete your application, file it with the state agency and follow up with the agency until you are approved. We assist in setting up your classes and exam. We also provide office solutions to meet the in-state physical office requirement for companies seeking a license from outside the state of Texas.

Total combined cost for the Texas state filing fees and licensing services are roughly $1,609* through American Mortgage Licensing. If you do not need assistance on the classes or exam, then a discount is available. To receive an official proposal or to get started on your application, contact us today at 866.588.6600, or you can use the contact us form below.

What are the requirements to obtain a Texas Mortgage Broker License?

The Texas Mortgage Broker License has two portions; an individual (broker) license and a company license. The new state requirements call for 30 hours of education if the broker has been licensed in the past as a Texas Loan Originator. If an applicant has not been licensed in Texas as a Loan Originator, then they must take 90 hours of approved classroom hours. We help set up these courses on your behalf with the state's best education providers.

The Texas Mortgage Broker License covers all 1st mortgages in Texas and any 2nd mortgage with an interest rate of less than 10%. If a broker will be offering 2nd mortgages that are greater than 10%, they must also obtain the Texas Regulatory Lender License through the Office of Consumer Credit Commission (OCCC). AM Licensing can assist in obtaining this license as well.

Texas Mortgage Brokers must show a personal adjusted net worth of $25,000 or more. If an applicant does not meet the net worth requirement, they must obtain a Surety Bond with coverage of $50,000.

What does this mean?

If you will only be brokering loans with an interest rate of less than 10% then you will only need to apply for the Texas Broker License and Texas Company License. If you don't meet the net worth requirement, you'll need to be bonded. AM Licensing has a bonding company that will provide you with quotes for this bond.

Who can apply for the Texas Mortgage Broker License?

Individuals can apply for the Broker License, but they must be affiliated with a company that is also licensed. Partnerships, associations, limited liability companies and corporations can all be licensed as a company. Each company must have a sponsoring broker. Loan Originators are licensed individually. They must take 30 hours of education and pass the state exam. The total fees for Loan Originators are $335.

What are the Fees?

American Mortgage Licensing's services		$1,000
Texas Filing Fees (Broker and Company)		$609
Surety Bond Premiums		$0*
Education Courses (Depends on the number of hours required)		TBD

* A Surety Bond is only required for applicants that do not meet the $25,000 personal net worth requirement. Bond premiums are based on the applicant's personal credit score.

How do I Start the Process?

To begin your project immediately, contact American Mortgage Licensing at 866.588.6600, or use the form below. We will be happy to answer any questions you have on the Texas Mortgage Broker License. If you are interested in additional states, please browse our website for information and pricing discounts on multi-states. We license brokers and lenders in all fifty states.

We look forward to the opportunity to serve you. Please let us know what we can do for you.