Vermont Finance and Mortgage Broker Bonds

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Learn more about Vermont Finance and Mortgage Broker Bonds

What are Vermont finance & mortgage broker bonds?

Finance and mortgage broker bonds are legally binding agreements between three parties: 

  • Finance professionals such as mortgage brokers, finance lenders, and mortgage loan originators
  • A government agency like the Vermont Department of Financial Regulation
  • A surety company

The bonds provide a guarantee that licensed finance professionals conduct business in compliance with the regulations set forth in the Vermont Laws.

If the finance professional fails to comply with the regulations, the surety company will pay out financial losses to damaged parties up to the full bond amount. The finance professional is liable to reimburse the surety for any damages paid under the bond.

How much do Vermont finance & mortgage broker bonds cost?

The Vermont Department of Financial Regulation requires mortgage loan brokers to post a surety bond as part of the licensing process. The required bond amount is based on the licensee’s annual loan volume:

  • Less than $2 million in loans: $25,000
  • Between $2 million and $5 million in loans: $50,000
  • Between $5 million and $15 million in loans: $75,000
  • More than $15 million in loans: $100,000

The required bond costs for other finance bonds in Vermont are as follows:

  • Vermont Lender License Bond: $50,000
  • Vermont Loan Servicer Bond: $100,000
  • Vermont Debt Adjuster Company Bond: $50,000
  • Vermont Money Transmitter Bond: $100,000 and upwards

The surety company issuing the bond determines your premium rate, which is the percentage of the total bond amount you pay as the premium. Premium rates for Vermont finance and mortgage broker bonds typically cost between 1% and 5% of the total bond amount.

During the application process, the surety company evaluates your personal credit, financial statements, industry experience, and licensing history. Applicants with good credit generally receive the lowest rates, however, bad credit will not prevent you from securing a Vermont finance bond. EZSurety still offers competitive rates to individuals with low credit scores or other financial issues.

How to get your mortgage broker license in Vermont?

To become a licensed mortgage loan broker in Vermont, you must meet the following licensing requirements:

  1. Complete the criminal background check
  2. Upload audited financial statements
  3. Provide copies of credit reports for all controlling persons
  4. Submit your application through the Nationwide Multistate Licensing System & Registry (NMLS)
  5. Post the appropriate surety bond
  6. Pay $1,100 in licensing fees and $36.25 per background check



For information on obtaining other finance licenses in the State of Vermont, you can visit the NMLS Resource Center.