Get Your New York MLO License
New York mortgage loan originators are required to be licensed. In order to apply for a license, new applicants will complete 23-hours of NMLS approved education. Our NY online MLO courses are fully approved to meet this requirement.
3 Easy Steps to obtain a Mortgage Loan Originator License in New York
1
Complete our NMLS Approved 20-hr Course and our New York State Specific 3-hour MLO Course. We provide both for just $275 $189!
ENROLL HERE and start the course anytime!
2
Pass your national mortgage exam:
Exam prep included free of charge (unlike other schools)
3
Apply for the MLO License:
We report your hours to the NMLS free of charge
23 Hours SAFE Comprehensive: New York MLO Courses
This is the course needed to obtain your NY MLO license. Unlike most competitors, we don’t have confusing packages. We include your 3-hour New York Laws Course AND our Exam Prep Course FREE, so you have everything in one package designed to get your license!
- 20 Hour Approved Course #16623
- 3 Hour New York Laws Course #18432 ($49 value)
- Bonus Exam Prep Course Included FREE ($149 value)
- NMLS Hours Reporting Included Free ($30 value)
- Online Prerecorded Instructor Led Videos
- E-textbook Included
- Unlimited Phone & Email Support
- Bonus Marketing Videos Included FREE ($236 value)
If you already have an MLO license in another state and want to get a New York License too, you can enroll in our 3-hr NY MLO course for $49 by calling student support at (866) 857-3510.
Why so inexpensive compared to other mortgage schools?
Since we only offer online courses, we can keep our costs low and our price affordable unlike most of our competitors. Therefore, we get to train more students than the other schools, which is a win for us. By keeping our costs lower, we help you get started in a great career as an MLO without having to take out a loan for your training, so everybody wins.
Best Training - Best Service - Best Value
Our 20-hour NMLS Approved National Course will fully prepare you to pass the license exam. Once you complete this course, you will have immediate FREE ACCESS to our 3-hour NMLS Approved New York Mortgage Laws Course and a full Exam Prep Course. All three courses for just $275 $189. The New York State Department of Financial Services (NYDFS) serves as the primary regulatory authority for Mortgage Loan Originators (MLOs) operating in New York State. NYDFS regulates and licenses mortgage professionals, including mortgage bankers, mortgage brokers, and individual MLOs, ensuring strict compliance with New York mortgage lending laws and regulations. All applications will be submitted through your individual NMLS account.
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New York 3-hour Mortgage Laws Course and Exam Prep Included Free
Our 3-hour New York laws course is included with the purchase of our 20-hour course. We also include our exam prep material in one easy to access package. We provide all of the training online needed to get your New York MLO License.
A message from our Mortgage Loan Originator Education Instructor Rich Leffler about the training program
The Benefits of a getting a NY MLO License
Working as a mortgage loan originator with a New York MLO license provides exceptional opportunities due to the state’s dynamic economy and position as a global financial powerhouse. New York’s blend of thriving metropolitan areas, affluent suburban markets, and diverse regional communities creates strong earning potential for licensed mortgage professionals. New York MLOs benefit from the state’s robust economy driven by financial services, real estate, technology, healthcare, and media sectors, plus consistent demand from both local residents and highly skilled professionals attracted to the region’s world-renowned businesses and cultural institutions. The state’s combination of urban sophistication, suburban growth markets, and access to some of the nation’s largest employers and investment opportunities makes it a magnet for homebuyers and a vibrant market for mortgage professionals. Whether you want to become a mortgage loan originator in New York City, Buffalo, Rochester, Albany, Syracuse, Yonkers, or Long Island, our New York mortgage loan originator course will provide the education you need to get your NY MLO license.
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Frequently asked Questions: How to Get your New York MLO License
What is an MLO license and do I need one in New York?
A Mortgage Loan Originator (MLO) license is required for anyone who takes mortgage applications, offers or negotiates terms of a mortgage loan, or represents to the public that they can perform these activities. The New York State Department of Financial Services (NYDFS) holds the primary regulatory authority for Mortgage Loan Originators (MLOs) operating in New York State. Processing and maintaining ones license is completed through the NMLS.
What are the basic requirements to get an MLO license in New York?
To obtain an MLO license in New York, you must be at least 18 years old, have a high school diploma or equivalent, complete 23 hours of pre-licensing education, pass the national and state components of the SAFE MLO Test, submit fingerprints for a background check, and demonstrate financial responsibility. You cannot have certain criminal convictions or regulatory violations.
What education is required for New York MLO licensing?
By training with 24hourEDU, you will complete 23 hours of NMLS-approved pre-licensing education, which includes 3 hours of federal law, 3 hours of ethics, 2 hours of non-traditional mortgage lending, 12 hours of electives, and our 3-hour NY mortgage laws online self-paced course. Our education is fully approved through the NMLS. You will be able to get an license with the New York State Department of Financial Services (NYDFS).
How difficult is the New York MLO exam?
The SAFE MLO Test consists of 125 questions. It is a National Test without NY state specific questions. You need to score at least 75% on both sections to pass. The exam covers federal mortgage laws, ethics, lending standards, and mortgage products. Many candidates find it challenging and recommend thorough preparation through study guides and practice tests. When you complete your training with 24hourEDU, we will provide you with a full exam prep course for free.
What is the average Annual Salary of a New York MLO?
The average annual salary for a mortgage loan originator in New York typically ranges from $95,000 to $120,000 in base pay and commissions combined, though total compensation can vary significantly based on experience, location, and performance. When factoring in commissions from closed loans, successful New York MLOs can earn considerably more, with top performers potentially reaching $175,000 to $250,000 or higher annually. The commission-based nature of the role means earnings are closely tied to individual sales volume, with experienced New York mortgage loan originators who have strong referral networks and client bases—especially those working in high-cost markets like New York City, Long Island, and Westchester County—typically earning well above the average. NY MLO salary potential is enhanced by the state’s robust real estate market and higher property values compared to many other states.
Frequently asked Questions about 24hourEDU and How to Get your Mortgage License
How much does a mortgage loan originator make on average in the United States?
According to a study performed by GLASSDOOR on June 6th, 2024, the average salary for a mortgage loan originator is around $177,000 per year with the top MLO’s making over $240,000 per year.
What does mortgage license training involve?
Mortgage license training involves completing the 20-hour pre-licensure education course, passing a national exam, and meeting state-specific requirements. The training covers topics such as federal and state mortgage laws, ethics, loan origination, and consumer protection.
How long does mortgage license training typically take?
The duration of mortgage license training can vary, but most aspiring MLOs can complete the required pre-licensure education in 20-30 hours. This includes additional time for exam preparation. 24hourEDU includes a complete exam prep course for the SAFE MLO National Exam free of charge with our 20 Hour SAFE Comprehensive: Online (OIL) – Mortgage Loan Originator Course.
- 3 hours of ethics
- 2 hours of non-traditional mortgage lending
- 12 hours of electives – Our online MLO course dedicates all of these hours to preparing you for the SAFE MLO test for mortgage loan originator licensing.
What are the educational requirements for mortgage license training?
The SAFE Act requires a minimum of 20 hours of pre-licensure education, which includes 3 hours of federal law, 3 hours of ethics, 2 hours of non-traditional mortgage lending, plus 12 hours of general mortgage origination electives. Other states may require additional hours.
How much does 24hourEDU’s mortgage license training cost?
The 24hourEDU 20-hour course costs just $275 $189! The cost of mortgage pre-licensure education with other courses can range from $300 to $800 plus they have additional costs for exam prep courses and NMLS hour reporting fees. 24hourEDU does not nickel and dime you on this. We include exam prep and the NMLS hour reporting fees in our tuition. Some students also ask: Why is 24hourEDU so cheap? By keeping our tuition affordable, we get to train more MLO students than any other school, so that is a win for us. By having the best price, we also help students get their mortgage license without spending an arm and a leg on the training. Everybody wins.
Can I complete mortgage license training online?
Yes, the 24hourEDU NMLS-approved course offers online mortgage license training. This allows for flexible scheduling and online learning, making it convenient for those who are working or have other commitments. Per NMLS regulations, the 20-hour course must be completed in 14 days or less from the start date. All of the training and testing to pass your 20 Hour SAFE Comprehensive: Online (OIL) – Mortgage Loan Originator Course will be done online in our learning management system.
Is there an exam I need to pass after completing mortgage license training?
Yes, after completing the pre-licensure education, you must pass the SAFE Mortgage Loan Originator Test. Our training includes guidance to study for the national component and, for many states, a state-specific component. The exam tests your knowledge of mortgage lending practices and relevant laws.
What topics are covered in mortgage license training courses?
Mortgage license training courses typically cover federal and state mortgage laws, ethics, loan origination processes, financial calculations, credit analysis, types of mortgage products, and fair lending practices. 24hourEDU has specifically designed our course to prepare you for the SAFE MLO National Exam.
How often do I need to renew my mortgage loan originator license?
MLO licenses must be renewed annually. The renewal process involves completing state continuing education requirements and paying a renewal fee. The NMLS Annual Renewal Period begins Nov. 1 each year. The renewal deadline each year is December 31st.
What is the NMLS, and how does it relate to mortgage license training?
The Nationwide Multistate Licensing System & Registry (NMLS) is the system of record for MLO licensing and registration. It manages the pre-licensure education, testing, and continuing education requirements for MLOs across the United States. You will learn all about the NMLS while completing our 20 Hour SAFE Comprehensive: Online (OIL) – Mortgage Loan Originator Course.
Can I work as an MLO while completing my mortgage license training?
You cannot work as an MLO while completing your training. You must first complete the pre-licensure education, pass the SAFE MLO test, and obtain your license before you can legally originate mortgage loans.
Are there different mortgage license training requirements for each state?
While the SAFE Act establishes minimum national standards that cover this state, other states have additional requirements for MLO licensing. These may include a few more hours of state-specific pre-licensure education, or a different process for background check requirements.
What career opportunities are available after completing mortgage license training?
After completing mortgage license training and obtaining your license, you can work as an MLO in various settings, including banks, credit unions, mortgage companies, or as an independent broker. With experience, you might advance to roles such as team leader, branch manager, or even open your own mortgage brokerage.
Is 24hourEDU legit? Can I get my mortgage license hours by taking an online course?
Yes, the 20 Hour SAFE Comprehensive: Online (OIL) – Mortgage Loan Originator Course by 24hourEDU is 100% approved by the NMLS so you can get the core hours required to apply for a mortgage loan origination license. 24hourEDU is an approved NMLS Course Provider listed in the NMLS list of approved online mortgage education providers under ID: 1405107.
