Virginia mortgage broker bonds.
From $150.
A company that negotiates or arranges residential mortgage loans for others in Virginia licenses as a mortgage broker with the State Corporation Commission. Va. Code § 6.2-1604 requires a surety bond with the application, and the broker floor is $25,000. Our premium is 0.6% of the bond amount, $150 at the $25,000 minimum.
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How much does a Virginia mortgage broker bond cost?
0.6% of the bond amount, from $150 at the $25,000 minimum. Enter your amount in the calculator for the exact price.
Three steps. One sitting.
The broker bond is an amount-based filing, not an underwriting queue. Here is the whole thing:
Apply online
Company details, the penal sum from your NMLS record, an effective date, and a term. No credit check up to $150,000. Above that, the carrier may run a soft pull, which never affects your score.
Pay & e-sign
Pricing is 0.6% of the bond amount ($150 at the $25,000 minimum), so the bond issues the moment you pay — your executed bond and power of attorney generate on the spot.
File through NMLS
Upload the executed bond to your NMLS company record for the Bureau of Financial Institutions. Wet-ink originals mailed on request.
What it is and who needs it.
What the bond actually guarantees
A mortgage broker under Chapter 16 of Title 6.2 is a person who, for compensation, negotiates or places mortgage loans for others on Virginia residential property but does not make the loans. The license runs through the Bureau of Financial Institutions, and § 6.2-1604 requires the application to be accompanied by a bond with corporate surety authorized to execute it in the Commonwealth, continuously maintained thereafter in full force.
The Commission's rule, 10VAC5-160-15, sets the mortgage broker minimum at $25,000 — the lowest floor in the chapter. Above it, the amount is adjusted annually on a scale keyed to residential mortgage loans originated in the preceding calendar year: $50,000 above $5 million, $75,000 above $20 million, $100,000 above $50 million, and $150,000 above $100 million. Add lender authority and the floor moves to $50,000.
The bond is conditioned on performing your written agreements with borrowers and prospective borrowers, accounting correctly for all funds received in the licensed business, and conducting that business in conformity with the chapter and all applicable law. It is not insurance for you — if the surety pays a claim, you repay the surety. We track your term and send renewal notices 60 and 30 days out.
You need this bond if you're
Claims, renewal, filing, and what sets the price.
If a claim is made
A claim comes from the party the bond protects, the obligee named on the form, when the duty the bond guarantees is not met.
The surety investigates and pays a valid claim, up to the bond amount. You then repay the surety: a surety bond is a guarantee of your performance, not insurance for you.
Renewal and term
The premium covers a one-year term from the effective date you choose.
Renew before the expiry date to keep the bond in force: the license, permit or contract it backs expects continuous coverage.
How to file it
File through NMLS. Upload the executed bond to your NMLS company record for the Bureau of Financial Institutions. Wet-ink originals mailed on request.
What sets the price
The premium is 0.6% of the bond amount, $100 minimum: the amount the obligee sets moves the price, not your business profile.
No credit check up to $150,000. Above that, the carrier may run a soft pull, which never affects your score.
Where a check runs, it decides approval; the rate is the same for everyone approved.
One application, issued instantly.
These are the actual issuing fields — company details, the penal sum, an effective date, and a term. That is the application.
Start the application →Common questions.
Virginia mortgage license bonds.
We write 7 mortgage license bonds in Virginia. Each license has its own bond, amount and price; pick the one your license calls for.
| License bond | Required by | Bond amount | Price |
|---|---|---|---|
| Mortgage Broker and Lender Bond (NMLS) | Va. Code § 6.2-1604 · 10VAC5-160-15 | $50,000 or more | From $300 |
| Mortgage Broker Bond (NMLS) (this page) | Va. Code § 6.2-1604 · 10VAC5-160-15 | $25,000 or more | From $150 |
| Mortgage Lender Bond (NMLS) | Va. Code § 6.2-1604 · 10VAC5-160-15 | $50,000 or more | From $300 |
| Mortgage Loan Originator Bond | Va. Code § 6.2-1703 · 10VAC5-161 | $25,000 or more | From $150 |
| Qualified Education Loan Servicer — Federal Contractor Bond ($50,000) | Va. Code § 6.2-2602 · § 6.2-2604 | $50,000 | $300 |
| Qualified Education Loan Servicer Bond ($50,000) | Va. Code § 6.2-2604 | $50,000 | $300 |
| Virginia Exempt Company Registration Bond | Va. Code § 6.2-1703 • 10VAC5-161-50 • SCC form CCB-8813 | $25,000 to $150,000 | From $150 |
Other Virginia bonds.
The same bond in nearby states.
Price and requirements checked on the carrier’s application, . Page updated .
Get your mortgage broker bond on file today.
0.6% of the bond amount — $150 at the $25,000 minimum, issued the moment you pay. No credit check up to $150,000. Above that, the carrier may run a soft pull, which never affects your score.