What a South Carolina mortgage loan officer license costs
The number a course provider advertises is one line of this bill. Before you originate a single loan in South Carolina you also owe the Nationwide Multistate Licensing System, usually written NMLS, for processing your application, a background check, a credit report and the Secure and Fair Enforcement (SAFE) Act test for mortgage loan originators, and you owe South Carolina State Board of Financial Institutions, Consumer Finance Division or South Carolina Department of Consumer Affairs for the license itself. Those fees are owed whichever course you pick, so comparing tuition alone understates what getting licensed costs. Everything below is a one-time cost per person unless it says otherwise.
Fees you pay whichever course you choose
| NMLS initial set-up fee Charged when you first file the individual MU4 form. | $35 |
| SAFE MLO test fee One national test. Every state has adopted it, so there is no second state exam to pay for. | $110 |
| Criminal background check Add a $10 card packet fee if you submit fingerprints on a print card rather than by Livescan. | $36 |
| Credit report Charged at new application unless NMLS already holds a report less than 30 days old. | $15 |
| South Carolina Mortgage Loan Originator License application fee Paid to South Carolina State Board of Financial Institutions, Consumer Finance Division. | $50 |
| South Carolina DCA Mortgage Loan Originator License application fee Paid to South Carolina Department of Consumer Affairs. | $50 |
| Fees total (South Carolina Mortgage Loan Originator License) | $246 |
| Fees total (South Carolina DCA Mortgage Loan Originator License) | $246 |
Course tuition
South Carolina courses in our comparison run from $99 to $649. That has to cover all 20 required hours , and where a package includes the state-specific hours the comparison table says so.
Cheapest realistic total
South Carolina Mortgage Loan Originator License: $345 using the cheapest listed course
South Carolina DCA Mortgage Loan Originator License: $345 using the cheapest listed course
What it costs every year after that
The license is renewed annually. Budget $35 for the NMLS annual processing fee, whatever South Carolina State Board of Financial Institutions, Consumer Finance Division or South Carolina Department of Consumer Affairs charges to renew, and the cost of your continuing education hours.